Toot, yes, no question, you are correct. It is being used as a medium of exchange. But history is replete with examples of assets that have temporarily been used as a medium of exchange. It cannot last though because it is not legal tender and because it is fundamentally a valueless asset. It has been valuable though in drawing attention to new technologies like blockchain which the Chinese are now using for better or worse) in their new digital currency.
Last edited by Milwroad; 04/15/21.
