The central design principle Bitcoin is based on is the concept of scarcity. Many economists state, and I agree, that virtual currencies, which Bitcoin facilitates, should be considered as any other form of money since that is not the form that determines money – that is its functions that do. And virtual currencies perform all functions that any other forms of money perform; they serve “as a means of exchange, as a store of value, and as a unit of account” (Böhme et al., Bitcoin: Working Pap...