Sentences with phrase «recognized as a store of value»

Not exact matches

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.»

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.»

For thousands of years, in countless cultures around the world, gold has been recognized as an exceptional store of value and, as such, accepted in all forms of transactions.

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.

An increasing number of investors and traders have started to recognize Bitcoin as a long - term investment, store of value and settlement network, rather than as a short - term investment or a short - cut to have huge gains.

Despite high demand, Bitfinex sought to distance itself from the idea that Ethereum would perhaps become a tradeable digital asset that would rival bitcoin, in part, due to the fact that the exchange recognizes it's not meant to act as a store of value.

The law defines «virtual currencies» as any type of digital representation of value that is used as a medium of exchange, unit of account or store of value, and is not recognized as legal tender by the United States government.

Bitcoin has already smashed up against some serious barriers on the road to becoming recognized as less of a store of value and more of a «currency.»

``... 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.»

It's critical that we as individuals recognize the value of our intellectual property — the data «store» of our company — and the importance of protecting it.