It seems to me that it is a convoluted way of saying "medium of exchange".


Isnt the objective of a currency to be money?

The objective of a currency is to be a substitute for money.  Think real cream versus coffee creamer in your coffee.

The two concepts are not mutually exclusive, but an object being one does not conclude that said object is the other as well.  In our modern world, most of us have grown up thinking that fiat currencies such as the US$ and the Euro are money, but they are not.  Money is some kind of commodity that has certain characteristics that lead to it's use as a medium of exchange, naturally.  But this says nothing about the standard trade unit.

Currencies are units of measurement of a medium of exchange.  A fiat currency is a unit of measurment defined by fiat, i.e. by an act of a government.  A hard currency is a currency that is defined as a particular amount (usually weight) of a commodity that is regarded as a money, such as the silver certificates of fifty years ago in the US.

A lump of pure gold is money, but not a currency, until some mint strikes it into a standard sized coin that says as much on the face of it.

A piece of paper can be a currency, if backed (or enforced) by some large entity, but is not money (even if it is used with a gold standard) because paper isn't the kind of commodity that makes a good money.

It seems to me it all depends on the definition of money. If you define money as whatever the people uses as medium of exchange, then a currency (or anything) that people uses as money becomes money (and stops being money when people dont use it as money anymore).

If i wanted to cover bitcoin in one sentence, then i would say "Bitcoin is the first virtual, electronic bullion".

Honestly the one I stated is the most common definition of money that I have read. But you might have a different experience.

No problem in having your own definition, but when you are talking with someone agreeing in the meaning of the words is needed.

Agreed



[Common folk MODE]
What da hell are ya talkin' 'bout man ?
If that was an insult, you're getting your ass kicked today.
[/Common folk MODE]

The common definition isn't the economic definition.  Just like many other terms used in common speech, the common use of the word is vague, while the jargon use is not.  Take the term, "coke"; it could refer to a number of things in the common speech, but usually either a form of cocaine or a dark soft drink.  But used in a specific context, coke becomes one of the early products of steel production.

Context is important.  I don't feel that it should be neccessary for me to mention the context in every post that I make on this forum, since the context of the economic use of the term "money" is already established as a de facto.

I contacted my Uncle again regarding the latest headline from EFF https://www.eff.org/deeplinks/2011/01/bitcoin-step-toward-censorship-resistant and he replied suggesting:


It is a bit disappointing that based on his initial statement his concern seems to be focused on 'governments.'  While I recognize that majority of people have established the idea that the world revolves around government control and without that control (from governments) then the idea may be replied to in a kind of oppositional manner, it isn't so exciting that people pursue that ideaology.  However, the initial statement merely suggests that he 'thinks the odds are not in favor.'  Perhaps even though he had communicated merely that he 'thinks' the odds are not in favor, that his actions (or inactions) based on his thoughts (or communicating such thoughts) will be representative of the very statement that 'he thought,' particularly that of not being in favor of any anonymous exchange medium.  Therefore because he 'thinks' the 'odds' are not in favor, he also will therefore not be in favor of any anonymous exchange medium.  I, on the other, have no concern what 'the odds' (what odds? or rather, if this concept has odds, then everything has odds) are and also have no concern for any similarities to that of gambling, but am enthusiastically in favor of the Bitcoin exchange medium, much more favorably than that of the us dollar exchange medium.  By the way, I had also linked to my Uncle the thirty minute cartoon entitled The American Dream which explains the us dollar, federal reserve, current system of 'exchange medium,' however I did not receive any response from him in relation to that video and am uncertain if he watched it or any portion of it and also if he does or does not agree with any or some of the content expressed within the video.

Continuing past the second opening sentence of his, after his first, suggesting that the EFF is great org., "The master keys of the key technologies are always held by government entities, for many sensible reasons, chief among them is fraud and crime."


Now I clearly recognize that he did not watch the video and that he also is not aware that ~100 years ago there was no government entity and therefore of any 'key technologies' that existed during such times, that there was also no 'master key.'  Other than that, due to lack of consideration or realization of such realities of history, I have no further statements.

Anyone else care to respond to the insights brought on by my Uncle?

Actually, I just noticed before even reading his response fully, that my Uncle had declared not to publish his comments.  It is too late, and even so, information wants to be free.  I imagine that in my posting his response (which may be similar to many other individuals and can probably be reproduced or the same ideas can be established from other publicly accessible resources).

Considering my Uncle's stature in society I imagine that if there is any violation of law involved in my posting his message written to me and also based on our not so well established closeness in regards to Family or acceptance of one another as individuals that there may be 'legal' concerns established with assistance from brutal us government, law, policing, control, power, manipulation, money, greed system that is established throughout the world (as has been seen relative to Julian Assange requested to be extradited even though not us citizen) directed towards this particular forum post.