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Wednesday, October 11, 2017

Crypto News: Bitcoin isn't money — it's a 'censorship-resistant asset class'

Bitcoin isnt money — its a censorship-resistant asset class

LONDON - Cryptocurrency Bitcoin isn't technically money in the full sense of the word, according to analysts at Bernstein.

While it allows transactions in a similar way to cash, Bitcoin is still just a "censorship-resistant asset class," out of the reach of state control and yet to form a part of the system of settlement and credit that defines money.

"Fiat money is still the final form of settlement - governments still collect taxes in fiat money and salaries are still paid in fiat money," a team of analysts led by Gautam Chhugani and Gaurav Jangale said in a note to clients on Wednesday.

"Thus, for now, Bitcoin has only emerged as a 'censorship resistant' asset class," Bernstein said.


Full story at http://read.bi/2i46mkD


Source: Business Insider Nordic


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