Is crypto a currency, money or investment? Cryptocurrency, as the name implies, if it is referred to as a currency, then the question is who authorizes it, who guards it, who guarantees it?, what are the players in it?, then if it is called money, can it last for a long period of time? Can it be used by everyone?, then if you want it to be called an investment destination, what contract? Is buying and selling, which digital assets sell so? or actually gambling? Or is it not clear?, or want to be called everything, yes currency, yes money, yes investment, yes gambling, yes assets.
With such questions, crypto actors then feel the need, to provide a lot of literacy to the community, maybe also to scholars, not vice versa, especially in the global economic situation, crypto has been increasingly used, with such a large number of users and value, making the reason for maintaining crypto existence stronger.
Apart from discussing state regulations or fatwas that clearly prohibit crypto as a currency, or crimes that occur in crypto businesses, there is another thing that is very ironic behind the frenetic crypto, namely to "mine" one bitcoin for 24 hours, for example, requires electricity of 1,820 kWh, which is equivalent to the average household electricity consumption for 62 days in the United States! And that's just Bitcoin! Not yet Ethereum and others. (https://tekno.kompas.com/read/2021/07/05/17503397/berapa-listrik-yang-dihabiskan-untuk-menambang-1-keping-bitcoin/).
The funny thing is that cryptocurrencies like bitcoin, depicted with gold coins, the language used is like mining gold, the desire for the system looks like gold, which does not require the state to recognize it as money and the amount is limited and wants a solution to inflation.
Money, Currency, and Investment
In fact, it has become a general agreement that is born naturally, born consciously, that gold is the standard of value of a good, service or treasure. When in the past the transaction process was carried out by barter, but ran inefficiently, gold then became the peak of human agreement, to become the standard of value of a transaction, broken down like anything, even in the form of sand, gold is still accepted, only with scales, gold can be used as a medium of exchange, this is money, everyone understands gold because intrinsically there is value, not affected by anything, Internet signals for example, let alone affected by the availability of electrical resources, do not need!, from a long time ago until now the value is fixed, there is no strange inflation like that on paper money!, if corruption is clearly the suspect, if inflation that makes the value of our money decrease, who is the corruptor?
But when gold money is limited by the state with money printing, then gold only becomes a reserve behind the iron door, then a currency appears, money that only applies nationally, and one currency is agreed as the standard, so that then gold circulating in the community becomes a commodity, which is traded like goods, no longer a standard of exchange value.
As for crypto?, the sense of pride of numbers that are considered as the rationality of everything, then gives birth to a currency, money, investment or whatever the meaning, which is not clear who the inventor is, which is not clear in form, there is nothing wrong with technology, but what technology is used for, then the problem arises, but if anyone wants to accept crypto, then go ahead, if anyone wants to exchange something for crypto, go ahead, Each will be held accountable, even if crypto is generally enforced, yes go ahead, what is clear is that gold will remain the most humane, fairest, forever standard of exchange.
Wallahu a'lam bishawab