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Old 24th April 2019, 10:18 PM   #3801
psionl0
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Originally Posted by trustbutverify View Post
One could do worse than defining commodities as materials listed on the CME/NYMEX.
Excluding materials traded at other exchanges seems a little restrictive to me.
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Old Yesterday, 03:31 AM   #3802
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Originally Posted by psionl0 View Post
Excluding materials traded at other exchanges seems a little restrictive to me.
It's not perfect, but using the choices made by the world's leading commodities market isn't terrible.
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Old Yesterday, 03:56 AM   #3803
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I thought money was invented to do what bitcoin does badly.
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Old Yesterday, 09:08 AM   #3804
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Originally Posted by trustbutverify View Post
It's not perfect, but using the choices made by the world's leading commodities market isn't terrible.
So I'm guessing that until crypto currencies are traded on the "world's leading commodities market" we will need to invent a special category for them.
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Old Yesterday, 09:48 AM   #3805
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Originally Posted by psionl0 View Post
So I'm guessing that until crypto currencies are traded on the "world's leading commodities market" we will need to invent a special category for them.
"Securities" (of which currency notes are a subset) seems perfectly appropriate to me. They have their own dedicated trading exchanges as well.
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Last edited by trustbutverify; Yesterday at 10:19 AM.
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Old Yesterday, 10:45 AM   #3806
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Quote:
A security is a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly-traded corporation (via stock), a creditor relationship with a governmental body or a corporation (represented by owning that entity's bond), or rights to ownership as represented by an option.
https://www.investopedia.com/terms/s/security.asp

I always thought that a security was a debt instrument or a claim on an asset (but I thought I would post a more official definition). I would say that bitcoin is no more a security than gold is.

If words like "currency" or "commodity" are so horrifying then call bitcoin a "digital asset".
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