Sentences with phrase «valued 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.

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.

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.

The demand for BitCoin is primarily driven by its value as a medium of exchange (i.e. by value in future exchange).

Not exact matches

Despite the record - breaking values of Bitcoin and its ilk, most digital currencies have failings that make them problematic as a mainstream medium of exchange.

Its token, which the company says will initially be pegged to the value of one U.S. dollar, strives to become a legitimate medium of exchange, a true crypto - currency as opposed to a crypto - commodity, like Bitcoin.

«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.»

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.

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.»

As suggested by Forbes, the first thing which could send Bitcoin skyrocketing is increased adoption as a conventional currency — meaning as both a store of value and medium of exchangAs suggested by Forbes, the first thing which could send Bitcoin skyrocketing is increased adoption as a conventional currency — meaning as both a store of value and medium of exchangas a conventional currency — meaning as both a store of value and medium of exchangas both a store of value and medium of exchange.

This is a natural response from governments to a new medium of exchange, which could end up competing with their own legal tender, commodities and other assets as a store of value and alternative method... Read more»

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.

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).

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.

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 valuAs 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 valuas, 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 valuas a medium of exchange and / or store of value.

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.

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.»

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

There is really no economic or financial justification for that as gold and fiat currencies have the value that is ascribed to each 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.

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.

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.

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.»

The primary use case of bitcoin today is as a store of value like a savings or an investment but in the not so distant future, we will see bitcoin and other cryptocurrencies like bitcoin emerge as the dominant medium of exchange in a growing number of 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.

Notably, the first bill defines «virtual coin» as «a digital representation of value that can be digitally traded and that functions as a medium of exchange, unit of account and store of value.»

While decentralised digital currencies have served as an excellent speculative asset, the same can not be said for their use as a medium of exchange, store of value or unit of account.

I'm really not convinced of the near - term value proposition of cryptocurrency as a medium - of - exchange for physical goods, Bitcoin as the rival to PayPall and all that Silicon Valley VC jazz (is it the weather over there?).

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.

People purchase bitcoins for its investment values than as a medium of exchange.

Aside from being simply a store of value and a medium of exchange, the digital protocol token known as Ether has the ability to execute smart contracts, or blocks of code designed to execute a wide spectrum of possible transactions.

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 Surpasses Gold in Popularity For millennia, humanity has used gold as a medium of exchange and store of value.

«In the case of pure cryptocurrencies like bitcoin, store - of - value use («hodling») and medium - of - exchange use («buying coffees») are naturally in conflict, as the store - of - value prizes security much more than the medium - of - exchange use case, which more strongly values usability.

The report also says that Bitcoin does not meet any criteria of being used as a medium of exchange and as a store of value.

Notably, the report labeled 2017 as «the year of cryptocurrencies,» continuing to state, «[if] digital currencies become less volatile in the future, valuing items in those denominations could become easier and individuals might begin using them more frequently as a medium of exchange.»

«[if] digital currencies become less volatile in the future, valuing items in those denominations could become easier and individuals might begin using them more frequently as a medium of exchange.»

A virtual currency is one particular type of digital token, which typically functions as a medium of exchange, a unit of account or a store of value.

While bitcoin qualifies as a medium of exchange, it is hard to consider it as a store of value due to its volatility.

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.

Those who supported keeping blocks small prioritized making Bitcoin a decentralized store of value over it being widely useful as medium of exchange.

The bank said in its update: «These regulations do not cover «virtual currency» which is defined as any type of digital unit used as a medium of exchange, unit account, or a form of stored value.»

Collectible: Something with aesthetic value but no cash flows, and no function as a medium of exchange.

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.