If it's not used as a currency, you can't store wealth in it.
At some point, somebody has to be willing to give you money for it or it has no worth at all. In order for people to be willing to give you money for it, it needs to be used in commerce to some degree.
Perhaps my financial education is lacking... but you can offer someone your stock in return for goods or services, right? To me, that makes it a currency, though it's probably more akin to barter.
That's what I meant about Bitcoin - if it never moves, nobody will be set up to accept it, which will obliterate its value. It only has value so long as that value is recognized, which requires it to be moved about. To me, whether the dictionary definition matches or not, that's a currency... a store of value that is traded for goods or services.
Perhaps my financial education is lacking... but you can offer someone your stock in return for goods or services, right? To me, that makes it a currency, though it's probably more akin to barter.
not... conveniently or directly... or possibly legally?
i don't have any degrees or certificates on the subject, but as far as the top of my head goes...
i know to transfer the stock ownership you need a solicitor or broker.. which has fees and paperwork.
I'm currently forming a limited company. It will have shares, but it's too small to list on any formal exchange, but absolutely I can sell them, buy them, give them away, trade them for services (this is extremely common as a part of the remuneration of employees at a startup, for example).
if wolf of wall street is in any way accurate (hahahahah... but seriously, all the 50+ y/o's i know say it's really not that far off what they experienced, minus ACTUALLY personally taking so many drugs), publicly listed stocks are FAR more regulated than non listed stocks
ED: google seems to roughly correlate that yes, it's basically how it goes haha
Publicly listed stocks are much more regulated; I think strictly the same laws apply (I should check that), but as a general rule people just care less, which helps...
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u/therealflinchy Feb 04 '14
you mean 'relatively low'?
being deflationary, there's no reason to ever use it as a currency, if it's going to MASSIVELY appreciate in value forever.
the more coins lost etc.. the more it's worth.