Posted on April 19, 2013 9:52 am

Steve Forbes: Bitcoin Not Money

from the ron-paul-says-eat-gold dept.

A brief editorial by Steve Forbes, one of our moneymeisters, on why bitcoins are not money.. Hint: For those who are too lazy to read the opinion,. Bitcoins are too volatile to be money.” From the article: “Money is most optimal when it is fixed in value just as commerce is facilitated when we have fixed weights and measures. When you buy a pound of hamburger you expect to get 16 ounces of meat. An hour has 60 minutes. A mile has 5280 feet. These measurements don’t ‘float.’ So too money best lubricates commerce when it has a fixed value.