Published on October 13th, 2017 | by bitcoin0
Bitcoin – A ‘ Censorship Resistant Asset Class ‘ – Wall Street Analysis
Bitcoin is a “censorship-resistant asset class” – but not quite money – according to analysts for New York-based firm Bernstein.
“Fiat money is still the final form of settlement – governments still collect taxes in fiat money and salaries are still paid in fiat money,” the note explained.
“Thus, for now, Bitcoin has only emerged as a ‘censorship resistant’ asset class.”
The analysts notably reckon that bitcoin’s ecosystem functions more like a self-reliant economy than, say, strictly a network of digital money.
Last month, investor and anarcho-capitalist Doug Casey argued that while bitcoin might be money, it’s not likely to last in the long-run.