Sentences with phrase «only as 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.

Not exact matches

«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.

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.»

If they are to succeed — not only as a fringe medium of exchange or speculative investment, but as real competitors with government currencies — some new programmers are going to have to come along and make currencies whose digital coins are created in a much different manner than the current ones.

Not only this, but the regulatory agency has also stated that in the country of Columbia, the only medium of exchange that is deemed as legal consists of the country's fiat currency, issued by the Bank of the Republic.

In this analogy the age of Bitcoin's blockchain is similar to the thousands of years of recorded history where gold functioned not only as a store of wealth but also a real medium of exchange.

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

If you have excellent credit, there's a good chance that you only use your credit cards as a medium of exchange rather than as a revolving loan.

His latest show at Matthew Marks Gallery presented works that all pointed, to some extent, to the subject of time, not only suggesting art's connection to «currency» as a value and medium of exchange, but also to how art objects transition from a marker of «the now» to an antique collectible.

The grea [t] ambition for the Internet as a communicative medium is that it can facilitate not only access to information and data but also the possibility of narrative exchange and collective will formation — the opportunity to become informed, to argue and to reach reasoned and rational positions which might become part of a public sphere consensus.

Since most people seem to use bitcoin for saving or some sort of safe haven asset, it is only a matter of time before it finds itself being used as a de facto medium of exchange in communities around the world.

Eventually, two or more parties who recognize bitcoin as a store of value will naturally find a way to use bitcoin as a medium of exchange and it will only grow from there.

The state of Wyoming only gives way to virtual currencies as a medium of exchange and should not be used otherwise.

The debate also focused on whether Bitcoin holds the potential of being treated only as a store of value like digital gold or both as a store of value and a medium of exchange like digital cash.

His central thesis relies on the basic premise of ANY medium of exchange: it only works as long as people will accept it for goods and services.

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.

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.

Only hobbyists are using cryptocurrencies as a medium of exchange, at least for conventional transactions for goods and services.