Bitcoin Forum

 Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

In my opinion for right now bitcoin is commodity like gold or silver, but in the future maybe it will become money if there are many people who use bitcoins for payment method. And moving bitcoin's price is like stock when i traded bitcoin to fiat.

Money:
something generally accepted as a medium of exchange, a measure of value, or a means of payment:

stock:
the supply of goods available for sale in a store

commodity:
something that is bought and sold

source: http://www.merriam-webster.com/dictionary/


basically based on the definition above bitcoin is any of those but obviously it is a currency, it is a technology so you don't have to confused your self by what bitcoin really is because bitcoin is bitcoin and that's it :)

this is a online and worldwide payment system so i think it would be fall into money category .
while many if users using bitcoin for earning through trading so we can say a way to get better opportunity of business so we can categorized it in the business category or trading category .

For me it's a hybrid. For one person it's a currency. While other may term it as a commodity. There is no fix definition for this. All it depends on what you wanna see it as. For me it's both. Though I am treating it as a currency though.

This would  be  the precis  answer  to your  question OP.  Because  its  being mentioned  here on what  category does bitcoin belong and  it shows  on 3 aspects  and  its right  in my own perspectives.  If  i would   choose  among the 3,  i would say  its a money hence its a digital currency after all.

Yes, I think they are the same as a medium of exchange while bitcoin is a currency that is intended to be used online. Bitcoin is same as money as they have value also that you can used to buy,trade and spend.

yes agree with you bitcoin is money as we can use it for buying selling and for exchange, but it can be use directly both for online trading and also in local markets, it can also be use as property as when the price of bitcoin increases its value also increase.

For me bitcoin is a money as I can buy things online using bitcoins and if I am in need of paper money then I can easily convert my bitcoins to my local currency and can purchase anything that I want, and the best thing about bitcoin is it keeps on growing over a period of time so if you can manage to save good amount of bitcoins then you can expect higher returns from it.

It can be all of them it only depends how do you consider it, some people use bitcoin only to purchase things so it is like a regular money.

Some other use bitcoin as an investment and as a good asset which expect a profit after a period of time, personally I consider bitcoin as money as investment as a commodity so I try to spend as less as I can and save bitcoin more and more.

Bitcoin is same as money only differences between them is bitcoin gives you more benefit than using money.You don't have to give tax or extra fees for using bitcoin.You will be able to send or receive payment within seconds.So, for me bitcoin is same as money with many more options.

In terms of classification, I think bitcoin will fall into money but not quite since it is virtual money. It is spent on the internet as a medium of payment, and then converted into fiat. I won't say it is a stock or commodity even if it is similar since Satoshi Nakamoto created bitcoin to be a decentralized digital currency meant to be used online to pay safely without exposing identity.

Bitcoin acts like money and we use it as money for paying goods and services. But in legal terms and terms of regulation it is not everywhere defined as money. The problem is that there is no unique attitude towards Bitcoin in that sense.

Good question, friend. Maybe if my opinion is more accurately called bitcoin digital currency.
Because bitcoin has such value for money and also fluctuates. And in bitcoin we can invest and trade.

bitcoin can be regarded as money. because bitcoin today can be used to purchase a variety of our needs. bitcoin is also known as a currency substitute, ie digital currency.

I can say bitcoin is money because for what you earn bitcoin learn more about bitcoin etc'' that for money right..if it does not produce anything for what you play bitcoin

first of all why do you want to classify it? bitcoin is open and decentralized so there is no need for classifying it just like everything else that government controls.

besides why not all of the above?
you can use bitcoin as all of them, a currency an investment , commodity ,... and that is actually the beauty of bitcoin and why it is growing so much these days.

In the US, Bitcoin is officially classed as a commodity like gold and oil and covered by the commodity exchange act.

To me personally and I'm sure for many others, it doesn't matter - money, stock or commodity. Bitcoin is a global network and it doesn't care what regional governments have to say about it.

For me Bitcoin is money because I use it as money. And probably for all other people who use it as a payment method. Afterall it's a cryptocurrency, right? But legal definitions may vary depending from country to country. Some treat is a commodity too.
But this is a question that we can disscus and probably everyone would have it's reasons why to treat Bitcoin as money or not.

Bitcoin is something entirely new and there is no way to classify it for sure because the quick advancement in cryptocurrency technology has surpassed what the laws and regulations have available. It will be hard for the authorities on how to regulate it due to the peer to peer and its decantralized properties. They would have to shutdown the internet to stop cryptocurrencies.

Bitcoin is money+commodity.Bitcoin can`t be stocks becasue this isn`t a corporation.

I don`t know if bitcoin is more money or more a commodity,it`s something in between,i guess.

Bitcoin can be implementing into the various definition but in my mind i can mentioning if bitcoin are the like a goods, but it's in the digital form and like the another goods is having the advantages for the people are wanna for buy them, depending with the situation the definition of bitcoin are can be the currency, stock or commodity at same time or i can say just a goods with various advantages.

Well i will be selling a big part of my small portfolio because i do need to make it now, soo sure bitcoin its a payment processor and sure it is money, otherwise we couldnt use its, but we are able to purchase anything into the online wolrd with bitcoin.
                                                   

Some countries classify it as a commodity but some are classifying it as a currency. It is not clear now.

To me, it is a commodity which can be used as a currency at some places. I think like that because it is not being used commony enough to call it a currency yet. It is like gold but it is being used more commonly than gold as a currency. (at least online, since nobody uses gold to buy something online i guess)

Being a currency and being a commodity is very much different than each other. For example: If you sell stuff for commodities, you don't have to pay taxes. But if you gain currencies. That's a no no. You have to giff some of your shit to the big boss.

This is the question that I am thinking the most. How it is possible to use something that is on internet. I mean in time I read about bitcoins that many hackers came here and took some ones coins. It is safe?

I read things that are saying wallet matters. I'm using an internet wallet called xapo. It is free and seems to be safe even so I trully have problems with login authentification in order that I'm not having a phone.

But using bitcoins in life this is the question. How we will be able to sell this coins in life?

How we will be using them?

I can not understand. Bitcoins are nice that are annonimus but you can get them only by trading. I heard that years ago you could get them just using your PC. but now adays it is almost impossible.

Personally I tried to get bitcoins by paying users with real cash. In 3 days of activity in the world of bitcoin from 1200 eur traded, i got scamed 800. So yeah. It is good that no one knows anything about an adress.

But going to market and using bitcoins it is almost hilarious for me :D

At the time of existence bitcoin has been considered as a token which is been used much into the transaction of big amounts. Now due to the advancement things have changed gradually. Most users consider it as a worthy investment and currency which has a growing potential compared to other national currencies which have a standard value.

Bitcoin is a digital money which is officially known as cryptocurrency. Actually bitcoin is not printed like paper currency our stamped like silver coins. But it is simply stored electronically or in paper. Although it's a money but there is no tax or such duties imposed by government. It is decentralized money and no one have control over this money

Technically speaking, bitcoin is not a money but it can be considered as an alternate investment which can fetch a much higher return than any other traditional investment.

If you want to spend bitcoin for silly things like recharging mobile or buying groceries, then you are welcome, but then you will be throwing away the chances of being rich in future. Bitcoin has a very high upside potential and you should not spend bitcoin for silly things. better you store it for longer time and unleash its power.

I do not think Bitcoin is money. Bitcoin seems like property than money although people can use Bitcoin to buy and sell many things online as well as in the physical world. However, whether bitcoin is money or not, we can not deny the benefits which bitcoin has given to us. Thus, we can use bitcoin instead of money

I think it doesn't fall under any traditional money, stock or commodity definition due to the feature and property bitcoin have.

Money: money is controlled by banks/government but bitcoin is not and also unlike paper money bitcoin have limited fixed supply.

I will better say bitcoin as decentralized crypto currency and it is another form of money and better than paper money.

maybe your idea of what money is could be lacking, money is anything that people accept in exchnage for goods and services

In my own opinion, its actually money because it can be served as a means of payment for goods and service even in the past before the advent of civilizations and government according to history, whatever is accepted as a means of exchange is money but in this dispensation that is not the only characteristic Bitcoin will have without the legitimacy which is the legal tender status by that factor is pending, then its not money...

Yeah we can use bitcoin to buy something online its not just a money we can exchange them in to money in order to buy other things since bitcoin still can not use directly to buy things locally so there is some alternatives online or exchange it into money to use it.

If Bitcoin was not money, then why do I pay for beers with it every weekend at my local pub? I buy Burritos at a local street vendor that

accepts Bitcoin almost every day. It is not to say, if Bitcoin was not accepted everywhere that it cannot be seen as a currency. We are getting

closer to the day, when Bitcoin will be accepted at every merchant or shop selling some or other service.  ;)

I personally can't give a very good answer to this question, but it is far more money-like than the fiat currency that we have. While some people might think of it like a stock, it is more like a commodity imo, in that debate. But I personally think that it is ordered Money > Commodity > Stock.

I think far happen that bitcoin will be money in the coming years. Because this crypto currency that can be used but do not pay all the market accept bitcoin. And we know that bitcoin is a good commodity such as you mentioned. Maybe some accept bitcoin as a mode of payment but not all.

IMO bitcoin is both currency and commodity.You can directly spend it and send it to anyone anywhere as long as sender and receiver both have internet access.It can also be used as commodity for investment purpose

Bitcoin is money. It has much more different usage than cash money so in this sense we can classify it as a stock or commodity but in the end it remains money. It is better than cash money as it can be used online without revealing our details.

Bitcoin is whatever you want it to be. In my case, the following is what I consider Bitcoin to be per case.

# Money - In the times I want to send or receive a certain amount, or simply when I buy something.
# Investment - In the times I want to use Bitcoin as a tool to make profits (which can be through trading, or long term holding).
# Store of value - I use Bitcoin for this purpose to store money outside the reach of banks and governments, and also with the intention to avoid seeing my wealth go down in value as is happening with fiat.

For others it might be different, but for me these are the most important use cases.

Bitcoin is money, bitcoin is cryptocurrency made by satoshi. Bitcoin was created for better way of buying or selleing transaction that have anonimity. And bitcoin have so many adantage than use fiat, goverment can not rule bitcoin so we do not have to pay tax.

This question is asked all the time. To be frank we can waste time trying to prove one point  or another, but what is the point?
I have another question: "Is gold money or property?" I think it is both. And with bitcoin is the same.
BTC can be classified as commodity, currency, money - and in fact is - by various government or financial institutions in the US.

You want to know some more about money vs. currency debate? This video is for you - Money vs Currency - Hidden Secrets Of Money Ep 1 - Mike Maloney:

https://www.youtube.com/watch?v=DyV0OfU3-FU (https://www.youtube.com/watch?v=DyV0OfU3-FU)

In my opinion, Bitcoin is a good means of payment. But, unfortunately, to get the cash I have to exchange Bitcoins to Fiat. Once Bitcoin will like paper and / or a digital money and as soon as I can buy a "loaf of bread" for Bitcoins, then I can say with confidence that Bitcoin is real money. At the moment, Bitcoin is a commodity like gold or silver.

I feel that the classification bitcoin included into money. I classify based bitcoin greatest usefulness. current users of bitcoin, mostly using bitcoin as a means of transaction, because so many advantages of bitcoin in terms of transactions, such as transactions quickly and anonymously. although many people who also use bitcoin as a tool for investment, however I would classify it as a bitcoin money on the internet

Yeah! I believe it is as for it's not really a commodity because we can't physically have a bitcoin. It's treated as money and as a form of currency and can be used to pay for things, which is why I classify Bitcoin as money.

Yes ofcourse, all people here use bitcoin such money. Bitcoin is realy good to be currency becouse it no need pishycal, so we do not have to worry if some one try to steal our money in street or in the crowd. Becouse we are the only one who can control our money.