Sentences with phrase «money 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.

Once people agreed to accept money as the medium of exchange, the accumulation of property was in principle without any moral limit.

Not exact matches

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.»

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.»

Besides the traditional functions of money (store of value, medium of exchange, unit of account), international exchange rates give a new dimension to currencies with several different ways of profiting from them (with the risk of losing money as well).

Digital currency or digital money is an Internet - based medium of exchange distinct from physical (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer - of - ownership.

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.

Throughout history, many items have been used as a store of value and medium of exchange, such as cowrie shells, clay tablets, coins, and now paper money.

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.»

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 oExchange,» 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 oexchange, a measure of value (or unit of account), a standard of deferred payment, and a store of value.

To accomplish that, the bill adds a definition of virtual currency to the state's money services statute (8 V.S.A. § 2500 et seq.): «stored value that (A) can be a medium of exchange, a unit of account, or a store of value; (B) has an equivalent value in money or acts as a substitute for money; (C) may be centralized or decentralized; and (D) can be exchanged for money or other convertible virtual currency.»

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.

Money is a medium which can be exchanged for goods and services and is used as a measure of their value in the market.

So yes, people will probably always use gold as money, but that doesn't make the money worth anything, it's just a medium of exchange.

Today, we use the system of «fiat money» which says that currency is intrinsically worth only the paper it is printed on is is used only as a medium of exchange for the supply and demand of goods and services in an economy, including precious metals like gold and silver, with the value of money allowed to fluctuate based on market forces.

Cacao was used by the Maya as a medium of exchange, a sort of money.

In some environments, it operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction...... Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currency.

To accomplish that, the bill adds a definition of virtual currency to the state's money services statute (8 V.S.A. § 2500 et seq.): «stored value that (A) can be a medium of exchange, a unit of account, or a store of value; (B) has an equivalent value in money or acts as a substitute for money; (C) may be centralized or decentralized; and (D) can be exchanged for money or other convertible virtual currency.»

Havven will offer a digital method of payment that fulfils the same three functions that traditional forms of money and asset - ownership do: act as a unit of account, a medium of exchange, and as a store of value, states the company.

If cryptocurrencies fail to provide easy liquidity, then they fail as mediums of exchange, one of the principal roles of money.

Companies can sell those tokens to investors to raise money or allow customers to use them on their sites and services as a medium of exchange.

Once implemented, it would significantly improve Bitcoin's utility as a digital medium of exchange against fiat money.

Money, as we know it, is both a store of value and a medium of exchange.

In it, Ravikant describes how cryptocurrency could serve not only as an alternative store of value and medium of exchange, but also as a way startups could raise money without jumping through the usual hoops.

Dash has just launched a pilot program in Zimbabwe to promote itself as an alternative store of value and medium of exchange (in other words, money).

«In some environments, virtual currency operates like «real» currency - i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance - but it does not have legal tender status in any jurisdiction.

In some environments, virtual currency operates like «real» currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction.

Knowing that the outliers are primarily used as stores of value or mediums of exchange, it only makes sense to list widely if planning to compete with cryptocurrencies used as money.

But it's not really viable as a money — I mean it is a potential medium of exchange, but it's not a store of value.