Analysis of Whether Cryptocurrency Like Bitcoin is Real Money from the Perspective of State Theory of Money

DOI

10.2991/icmess-18.2018.376How to use a DOI?

Keywords

Cryptocurrency; Bitcoin; Nature of money; National debts

Abstract

With the popularity of cryptocurrency like bitcoins in recent years, the social circles have been confusing whether cryptocurrency is real money essentially. Lots of voices have clarified the question from the traditional view that regards the nature of money as commodity. However, historical evidences have proved that the traditional theory deviates from the real nature of money originating from debt and is not exactly true. State Theory of Money holds the debt-based opinion on the nature of money and regards the nature of money as the debt of state, which is allowed to be the payment of tax. Therefore based on this, the paper analyzes the debt nature of money and the characteristics of cryptocurrency like bitcoins, and draws the conclusion that cryptocurrency like bitcoins is not accepted by the state as the payment of tax, not the national debt, so not the currency.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Jie Hao
PY  - 2018/06
DA  - 2018/06
TI  - Analysis of Whether Cryptocurrency Like Bitcoin is Real Money from the Perspective of State Theory of Money
BT  - Proceedings of the 2018 2nd International Conference on Management, Education and Social Science (ICMESS 2018)
PB  - Atlantis Press
SP  - 1696
EP  - 1700
SN  - 2352-5398
UR  - https://doi.org/10.2991/icmess-18.2018.376
DO  - 10.2991/icmess-18.2018.376
ID  - Hao2018/06
ER  -