Question 11 3 points For Bitcoins to be considered as money

Question 11 (3 points) For Bitcoins to be considered as money it would need to satisfy all of the following except Bitcoins would need to be used for daily transactions. O Savings can be measured in Bitcoins. Bitcoins would need to be used to compare prices for everyday goods and services. Bitcoins would need to be exchanged for gold.

Solution

Miney has following functions

1) Store of Value,2)Medium of Echange,3) Unit of Account

1)Savingd means storage hence option 2 is corect

2) Medium of Exchange- Able to buy goods and services with comaprable prices hence option 3 is correct

3) Echange of gold means liquid money hence option 4 is also correct

Incorrect response is option 1) Money neednt be used foor daily transactions.