It's time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.
What this refers to is what Bitcoin can do. Bitcoin is NOT a currency nor even e-currency. It is a commodity, electronic cash.
BUT...
You can build a currency ON Bitcoin IN Script.
Mann on money
Currency is a legal term of art.
the question was argued and debated because of the Euro and Stirling choice bill of 2001.
If this bill was accepted, it would have conferred a unilateral right upon the debtor to discharge a Stirling obligation by payment of euros
currency means current money
to be currency, it needs to be the legally accepted form of money that is in general use within a particular country
foreign currency of course is currency that is accepted in other countries
so, unless bitcoin is widely accepted and even able to be used in the payment of bills to government as well as small casual payments as cash, when that is that the majority of some countries use is in bitcoin, then bitcoin will not be currency
Cash is a form of money in notes or coins. Bitcoin is created in a form of a digital coin and under the electronic transactions act the ability to substitute electronic methodologies for paper is considered viable in the UK hence making this legally something that can be cash
unlike popular opinion in many areas cash does not need to be a form of legal tender but it needs to be imediately final
I final what I mean is that it is not like a cheque that needs to be taken and processed somewhere else
when you are handed a cash transaction you have the final value in the final form
Not always, script enables the creation of predefined systems that ensure that double spending cannot occur if that needs to be implemented
For instance, using multi-signature scripts allows for the signing and distribution of transactions in a chain. Through this, a combination of payment channels and signing can create a system that does not allow for any double spends.
CSW
Jul 21, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1626880032027500?thread_
https://t.me/CSW_Slack/2747
What this refers to is what Bitcoin can do. Bitcoin is NOT a currency nor even e-currency. It is a commodity, electronic cash.
BUT...
You can build a currency ON Bitcoin IN Script.
Mann on money
Currency is a legal term of art.
the question was argued and debated because of the Euro and Stirling choice bill of 2001.
If this bill was accepted, it would have conferred a unilateral right upon the debtor to discharge a Stirling obligation by payment of euros
currency means current money
to be currency, it needs to be the legally accepted form of money that is in general use within a particular country
foreign currency of course is currency that is accepted in other countries
so, unless bitcoin is widely accepted and even able to be used in the payment of bills to government as well as small casual payments as cash, when that is that the majority of some countries use is in bitcoin, then bitcoin will not be currency
Cash is a form of money in notes or coins. Bitcoin is created in a form of a digital coin and under the electronic transactions act the ability to substitute electronic methodologies for paper is considered viable in the UK hence making this legally something that can be cash
unlike popular opinion in many areas cash does not need to be a form of legal tender but it needs to be imediately final
I final what I mean is that it is not like a cheque that needs to be taken and processed somewhere else
when you are handed a cash transaction you have the final value in the final form
Not always, script enables the creation of predefined systems that ensure that double spending cannot occur if that needs to be implemented
For instance, using multi-signature scripts allows for the signing and distribution of transactions in a chain. Through this, a combination of payment channels and signing can create a system that does not allow for any double spends.
CSW
Jul 21, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1626880032027500?thread_
https://t.me/CSW_Slack/2747
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