General Discussion Topics, page-3342

The SEC does consider that bitcoin is a commodity it doesn't have the real intrinsic value other commodities have like gold, silver, copper, oil, gas, corn , wheat and soy. The traditional commodities produce value added products downstream from the raw commodities, benefiting economies, trade and business. Until bitcoin can produce something that gives it real intrinsic value IMO it will remain a virtual asset class detached from reality. Yes it has a ultimate fixed supply, but because it's digital the decimal point can be moved to infinite levels to left creating 1 millionth, to 1 billionth to an infinite number this creates digital dilution. Also as a payment method BTC can be a slow network and suffers from heavy congestion at times. If your transactions aren't time sensitive then you can monitor the network to get the best fee deal, but with a limited number of transactions bitcoin as a usable point of exchange will be limited. That just leaves bitcoin as a trading mechanism to be bought and sold based on it's price cycles. For me bitcoin will remain a virtual unproductive asset, rather than a physical producing asset, to rely on someone else paying more for it than the last person paid.