Criteria For Money Vs. Currency
1.) Easily recognized
2.) Readily accepted as a medium of exchange
3.) Highly divisible (may be represented in many denominations – penny, nickel, dime, quarter, dollar)
4.) Limited in supply (requires work to obtain and is transparent in all facets)
5.) Tangible (may be held in the hand, although may be utilized digitally as well)
6.) Durable (not deteriorate from exposure/use and has consistent quality – not easy to counterfeit)
7.) Store of value (will not change in value for slight causes or government action)
9.) Portable (may be carried around)
10.) Not traceable or manipulatable (No monitoring usage – no government controls)
It is possible to have something that is representative of the above listing such as paper money backed by gold or silver as was the case in America for over two centuries.
Currency like the U.S. dollar fits some but not all of the above. The same is true with Bitcoin and cryptocurrencies.
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