Bitcoin Is Not Currency

SummaryA currency can transact directly without being referenced to a market price.Cryptocurrency is not currency.The more crypto gets used for transactions the more selling pressure there is on crypto.Over the years I have written a number of articles on cryptocurrency as I am continually bothered by the way Wall Street uses difficult to understand speculative instruments to capture people’s investment dollars. Particularly disturbing to me is when I hear retail investors parroting the talking points of the brokers that sell them this junk.I am probably too small to make a difference in the grand scheme of things, but as an analyst I feel it is my duty to correct misinformation. In my previous articles I explained how I believed Bitcoin (BTC-USD) would never generate a return on investment because it has no revenues and has no plan to produce revenues. I also detailed how investing in cryptocurrencies in no way provides the investor with ownership of the underlying blockchain technology. Thus, no matter how useful or valuable blockchain ends up being, it doesn’t give the crypto investment value.In the comments of each of these articles one idea stood out as the primary criticism of my reports.“you can’t analyze crypto like a stock. It is a currency, not an investment”Now THAT is a dangerous idea and one I feel compelled to correct, hence the subject of this article.Currency vs money vs cryptocurrencyCurrency and money have su...