Money is bits, but the government (depending on where you live it is different g... | Hacker News

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		bluGill 25 days ago \| parent \| context \| favorite \| on: $19B Wiped Out in Crypto's Biggest Liquidation Money is bits, but the government (depending on where you live it is different governments) says you can use it, and so it is backed by the law. If that is good or bad is an open question.

rahen 25 days ago [–]

Indeed, it must have legal value. Even so, some stores accept Bitcoin and Monero (thus making them money) but won’t accept USD in Europe or Euros in the US, so you can't use them despite those currencies having legal tender status.

So yes, whether Bitcoin is money or a security remains an open question.

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