Both Bitcoin and gold are considered to be money, while everything else is a form of credit. This is because both assets have intrinsic value; gold has been used as a store of value since ancient civilization; while bitcoin serves as an immutable digital representation of it. On the other hand, fiat currencies are backed by governments and central banks' promises, which many argue effectively reduces them to being mere IOUs. Understanding this fundamental difference distinguishes true money from mere credit/ promise payments with no underlying intrinsic value or autonomy. #bitcoin #gold #money