Are Bitcoins the New Payment Tools Suitable for Extinguishing a Pecuniary Obligation?

Abstract

This chapter aims to examine the issue of cryptocurrencies and to develop in particular a reflection on the possibility of counting bitcoins, which represent the best known and most widespread of the existing cryptocurrencies, among the payment instruments suitable to extinguish a pecuniary obligation, recognizing in them the function of means of payment typical of currency. The reflection moves from the crucial question of whether bitcoins are currency, reconstructing first of all the meaning of currency and its function. The research aims to conduct a cross-sectional analysis of the bitcoin system through an argumentation that highlights its potentialities and limitations.