Sentences with phrase «as a medium of»

Nobody uses it as a medium of exchange,» Carney said.

Creative live streaming video initiatives and campaigns are a way for companies to cut through the digital clutter and have emerged as the medium of choice not only for person - to - person sharing, but also for business - to - consumer (B2C) and business - to - business (B2B) communication.

But there are a lot of possible applications that can use Bitcoin as the medium of exchange while prices are set in a conventional currency such as the dollar.

«I believe it is important to separate the idea of cryptocurrencies, whose main purpose is only to serve as a medium of exchange or a store of value, from the proliferation of «tokens» generally,» he declared.

In February 2018, Bank of England governor Mark Carney said that cryptocurrencies have «failed» to behave as currencies because they are not an effective «store of value» and because «nobody uses [them] as a medium of exchange.»

The bill defines virtual currency as «a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account, or a store of value but does not have legal tender status as recognized by the United States government.»

FinCEN's regulations define currency (also referred to as «real» currency) as «the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance.»

According to the IRS, «Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and / or a store of value.

The reason for this hard fork is down to the developers wanting to keep improving this digital currency as a medium of exchange.

While Bitcoin and other cryptocurrencies have tremendous potential value as a medium of exchange, it is the underlying distributed ledger technology, blockchain, which has emerged to truly capture the interest of entrepreneurs, venture capital firms, financial institutions and other corporations.

Ether, the digital asset used on the Ethereum blockchain, functions as a medium of exchange, or «coin,» but also qualifies as a token and even a security.

And, in the grand scheme of things, it is mostly true today that cryptocurrencies don't have meaningful «industrial [or] consumer use except as a medium of exchange.»

Regardless, millions of people around the world have adopted bitcoin as a medium of exchange.

At only two pages, the concise bill is not very substantive, save for a brief classification of «virtual currency» as «any type of digital representation of value that; 1) Is used as a medium of exchange, unit of account or store or value; and 2) Is not recognized as legal tender by the United States government.»

It has no industrial nor consumer use except as a medium of exchange.

While Bitcoin and other cryptocurrencies continue to hold tremendous potential value as a medium of exchange, it is the underlying distributed ledger technology, blockchain, which has emerged to truly capture the interest of entrepreneurs, venture capitalists, financial institutions and other corporations.

The same tokens will also be used as the medium of exchange for consumers looking to purchase ticketing for entertainment events.

BitCrystals were designed to purchase new card decks and game items while working as the medium of exchange within the game - play.

currency is any type of digital unit that is used as a medium of exchange that does not have all the

The FINCEN definition of currency: The coin and paper money of the United States or any other country that is (1) designated as legal tender and that (2) circulates and (3) is customarily accepted as a medium of exchange in the country of issuance.»

Following Warren Buffet comments, analysts have again started raising questions over the digital currencies potential to work as the medium of exchange.

While virtual currencies do not have legal tender status in any jurisdiction, they operate like «real» currency in that they are accepted as a medium of exchange.

Not sure what to conclude — different people will come to different answers, but in my mind the use of cryptos as a medium of exchange is for a limited set of economic activity.

«Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers.

Bitcoin Cash with its big blocks, low fees and quick settlement times is a direct competitor to Litecoin as mediums of exchange.

So, that is, accepting the digital currency today is completely legal; this means MonaCoin and other cryptos can be used as a medium of payment in businesses, stores, or restaurants.

That is just like how bitcoin itself has grown as a medium of alternate as extra individuals have considered it as a possible retailer of worth -LRB-

On the other hand, Stellar allows individuals to trade money directly with one another using XLM as the medium of exchange, and «anchors» to handle the aspects of fiat currency.

Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities.

Bitcoin speculators have driven significant price volatility, reducing Bitcoin's utility as a medium of exchange.

The Rock Token (RKT) is the currency of choice for transactions, listings and a multitude of functions, serving as the medium of exchange and the utility coin that powers the GBX - GSX ecosystem.

Just last week, during testimony before the US Congress, SEC Chairman Jay Clayton said cryptocurrencies such as Bitcoin, which function exclusively as mediums of exchange, are not securities, unlike ICO tokens, which are.

Cryptocurrencies are neither official South African tender nor widely used and accepted in South Africa as a medium of payment or exchange.

2 stating «Bitcoin and other virtual currencies are distinct from «real» currencies, which are the coin and paper money of the United States or another country that are designated as legal tender, circulate, and are customarily used and accepted as a medium of exchange in the country of issuance.»

The company is using ETH as a medium of financing and borrowing on the iP2PGlobal platform.

As used herein, «Digital Currency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of value.

In addition, if the price of Bitcoin can rise or fall 10 % or 20 % in a day — a price swing which exceeds the profit margins of the vast majority of businesses in the world — who will be willing to use this as a medium of exchange in commerce?

Gold as a medium of exchange became only possible between global central banks.

The proposal defines «virtual currencies» as a digital representation of value that can be digitally transferred, stored or traded and accepted by natural or legal persons as a medium of exchange, but does not have legal tender status.

-LSB-...] If the digital currency will become less variable in future, the assessment of products in these values can become easier and one can start to use them more frequently as a medium of exchange.

Cryptocurrencies therefore must be amenable to being used as a medium of exchange.

It must be said that existing cryptocurrencies do not all fulfill the characteristics of fiat money as a medium of exchange.

His 1875 work, «Money and the Mechanism of Exchange,» defines the four functions of a currency: as a medium of exchange, a measure of value (or unit of account), a standard of deferred payment, and a store of value.

Instead they saw the Bible as the medium of a new source of life and power which changed persons and the world so that application of the spirit of the Scripture could not be achieved by a mechanical application of the letter of the Scripture.

Hyderabad, under the Muslim dynasty of the Nizams, had become a center of Muslim culture and Urdu literature and poetry after the establishment of Usmania University, the first institution to use Urdu as the medium of instruction in higher education.

Or perhaps we should say that «language» needs to be understood broadly as any medium of communication, not only speaking or writing.

In fact I am certain he would, for it was central to his thought that discursive reason is inseparable from myth as a medium of truth.

Bass asks us to see time in a new way, not as something that controls us, but as God's first gift, as the medium of God's presence and activity and as the place of sabbath.

He appealed to the teaching of Jesus, who, he suggested, decried the idolization of money, but not its function as a medium of exchange.

Language, like money under inflationary conditions, loses its value as a medium of exchange when issued in excessive quantity and without regard for the real assets underlying it.