Sentences with phrase «reliable unit of account»

While some people use bitcoin or other cryptocurrencies simply because they have no other option available to them for a particular type of transaction, Peetz and Mall argue that bitcoin is not a transactional currency — mainly due to its inability to act as a reliable unit of account.

Not exact matches

There have been plenty of cryptocurrencies over the years, and they have all exhibited potential for storing value, operating as a unit of account and proving a reliable medium of exchange.

There are four goals of price stable Smart Coins (bitAssets)-- a relatively reliable solution to predict the future value of a token, a predictable stable price with reduced volatility, hedging against volatile cryptocurrency markets and price action, and a unit of account distinct from assets with capital gains or losses (which has increased tax liability).