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Goldman Sachs says Bitcoin is not a currency
TechCrunch reported earlier this week on a report issued by Goldman Sachs in which the bank concluded Bitcoin is not, in fact, a currency. From the report: “Bitcoin likely can’t work as a currency, but … the ledger-based technology that underlies it could hold promise.” “We would argue that Bitcoin, and other digital currencies, lie somewhere on the boundary between currency, commodity and financial asset. ... Our best definition would be that it is currently a speculative financial asset that can be used as a medium of exchange.” “On net, more than taking off as a widely-used alternative currency, it …
Bitcoin / March 15, 2014