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Why Bitcoin is not money, and only Gold and Silver are.
Lately, the price of Bitcoin has once again crossed the fifty thousand dollar mark, and the consensus among crypto investors is that it’s going much higher than that. Some say that it will reach a hundred thousand dollars per Bitcoin. Others claim that it will reach more than a million. I won’t try to debate that. Bitcoin has certainly proven itself to be a good speculation, which has made many people very wealthy. What I will argue is that Bitcoin is not money, and that it will never be money. It has a critical flaw, which prevents it from being used in everyday trade. Only useful commodities such as gold and silver can serve as money, and in this video I will explain why.
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