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The utility of Bitcoin is to buy it with a good (dollars) or a service in order to sell it for a good or service in the future, preferably with its value increased with time.

Saying you're not buying Bitcoin is just incorrect. Ever trade has a buyer and seller, where the buyer and seller are also the seller and buyer, respectively. You're buying dollars when you sell a good and selling dollars when buying a good.

Nullifier 1y ago

I guess my contention is that there's a distinction between buyer and seller and they cannot be mutually inclusive. I feel that the seller always receives the monetary good and buyer takes the consumer good.

If no distinction between the two exists, then money doesn't exist.

I should check with the Austrian perspective on this.

Appreciate your civility nonetheless. 😎

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Discussion

[ARCHIVED] Jay 1y ago

It's not always the case. I have to pay rent to my landlord, so it's perfectly valid to say that I have to buy dollars from my employer in exchange for labor so that I can sell them to my landlord in exchange for housing.

The commodity used as money has no special status besides being the most saleable good in this situation, a medium of exchange that everyone involved is willing to trade other goods for.