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There's the whole thing right there. Bitcoin is not money. It is virtual gold. It can be used to make purchases, just as gold can, but that does not make it money. Therefore, it cannot be 'sound' or 'unsound' as money. Being virtual, it does serve a purpose in allowing for cash-like purchases at a distance, but that does not make it money, either.

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Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

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