"Bitcoin is not a claim and therefore not a money. If you and I agree to pay each other in tulip bulbs then we have established a private currency and the same applies to bitcoin."Comparing the digital currency to tulip bulbs, which famously rocketed in price during the 'Tulip Mania' bubble of the early 1600s. Gijs Boudewijn dismissed suggestions that bitcoin could be currency!
Bitcoin has two almost distinct personalities. The first is the political revolutionary, destined to disempower government. The second is more prosaic; bitcoin is simply a better way of transferring money, a technology easily co-opted by a banking system seen by some bitcoiners as the enemy.
Bitcoin is really convenient. The comments come weeks after the Dutch Minister for Justice and Security said bitcoin would not be banned, and echo a recent UBS report that suggests that banks can adopt "a bitcoin-like technology" to create a new foundation for payment services that would prop up, instead of pull down, the existing banking system.
Someone doubts that bitcoin can become a widely-used currency, and argued that the need for government to provide confidence in a currency means bitcoin would be a limited prospect.
Source: coindesk.com
