Comment: Bitcoin is more FRN than it is Silver.

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Bitcoin is more FRN than it is Silver.

What is important here, is that Bitcoin is not redeemable, and it is not money by virtue of its own value; Bitcoin is just nebulous computer data.

Silver is something of value.

This is the most important difference, and something that Bitcoin supporters don't understand. Bitcoins and FRN's are trading vehicles; a means to an end. Gold and Silver are beautiful precious metals, and an end in their own right.

When you receive a Bitcoin, or a dollar, what matters is what you can get for it -- material enrichment. When you receive Gold, or Silver, you've been materially enriched.

Bitcoin is actually WORSE than FRN, because it is not good for tax payment.