Bitcoin Forum

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Semantics... We are using "real" money to purchase chains of numbers. Its Math! (Or is Art Math? Math is Art?)

So, what's money in your opinion?

Because it's just paper and coins for me  ;D ;D ;D

From your write up you ended up pointing out the currency in bitcoin, you said bitcoin is an artwork limit in 21 million and measure in 100,000,000 santoshi what is this your so called artwork use for does it just exist on a computer or use for purchasing goods and services with a tradable value on the exchange?

Bitcoin and dollars are intrinsically worthless both are fiat currencies. The co-existence of two fiat currencies and its analysis is nothing new.

This account and OP were both registered less than an hour ago. Beginning some low level, cryptic (no pun intended) FUD campaign. You're supposed to read these posts and think "gee whizz, maybe bitcoin ain't so hot after all. Better invest in some shitcoin fork instead."

If Bitcoin is just artwork, it shouldn't have multiple functions. Bitcoin is digital money that we couldn't hold physically but we can use it as an investment and a mode of payment so it's really multifunctional. I guess you still need to know how bitcoin works so you will be able to recognize that it's a currency and money.

For me bitcoin is an extraordinary digital asset for the future. Since I first became acquainted with bitcoin and cryptocurrency, it has benefited me a lot. Bitcoin is very popular and has many fans spread in almost all countries. I hope Bitcoin will continue to grow well and be more beneficial for us all. Thank you satoshi nakamoto and bitcoin.

I don't understand what did you want to say! but bitcoin is money, absolutely money! but it's different then other regular paper money, it's digital decentralised money and now it's used by several countries beside other regular paper money! and I think bitcoin going more popular day by day!

First and foremost, I don't think you really understand what the true definition of money means. Bitcoin is a financial tool which operates  and function similarly like money. Money in my opinion is anything that can be used to exchange for goods and services which is also recognized by a large group of people and the entire world.  I think you should rethink your opinion about bitcoin and spend some time to research and understand what Bitcoin actually means.

More than that actually. If you divide each Bitcoin up into a Satoshi you have 100,000,000 Satoshi in one Bitcoin.

We all have different opinion about Bitcoin.
And I really like yours it is a good one since artist spend so much money to buy a good arts.
And Satoshi's work would be the most expensive of all crypto's because it was the first and most rare of them all.

Money, cash, fiat can be used to purchase/exchange with everything that you want.

Bitcoin can be used like that, so what does money means to you?

And people start buying it now with their 'real money' to get another money (bitcoin). As you mentioned artwork, well a great piece of artwork is lucrative if it came from a famous art maker. Same goes for bitcoin if you want to sell it at current price. I can't get what you are trying to point out with your post.

I dont even treat even fiat as a money,thats just a fake paper printed by the government which is being use to manipulate us.Bitcoin is more of like a gold.Good for investment but not even a  money.People have different mind set for money

Bitcoin is a form of money, just  digital and can use to purchase online. Though we cant see it and never touch by a bear hand, you cannot say it is not money. Bitcoin works like a real money. You earn it, invest it to grow, and spend it.

So what's your definition of money, Op? Do you know the purpose why Satoshi made BTC?
He made it to be used as a mode of payment to make things more convenient.
It's only digital but it's still considered as money because it has a value and it plays a vital role in our lives now.

In other world bitcoin is also kind of money if we look on it's function and it's essens. But there is nothing to talk about if it is money or not,the important thing is bitcoin ad other crypto serves as the fiat backup and future fiat that makes our every transactions more easier and serves as a investment or an extra income to all users.

Do you use art to pay your bills? i don't think so. Bitcoin is money because you can use it to pay almost anything, and if you still thinking bitcoin is art then ask yourself how easy is to change art for money (without selling it cheap), and then compare that with bitcoin.

Questions that are very confusing and seem to be confusing. I don't think it is necessary to blame Bitcoin whether it is not money or not, but in fact bitcoin is digital money, which can be used and exchanged into fiat.

https://en.wikipedia.org/wiki/Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.[4][5] Any item or verifiable record that fulfils these functions can be considered as money.

Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. Economists differentiate among three different types of money: commodity money, fiat money, and bank money. Commodity money is a good whose value serves as the value of money.

I transferred my bitcoin money, into other goods and services plenty of times, never fiat, Bitcoin is money. I can even pay for my taxes here in Canada with it and I have to pay tax on it, until I created the "church or whatever you want to call it of bitcoin"

You are right though, it is a form of artwork, some really nice nerd cryptography artwork. That is a antique artwork and only 21 million will ever be distributed.  

I think that OP never knew what he/she says. Definitely, a new troll in this forum and don't have enough knowledge with.
It maybe Bitcoin is banned in their country and they can't use it that makes sense for him/her to say that "Bitcoin is not Money" cause they can't actually enjoy of using bitcoin instead of to stick with their fiat money.

You can call it whatever you want, but people use it to buy things and as a store of value, so therefore it is money. At CNBC they even list BTC/USD among the major currency pairs.

I do not see this as a FUD campaign, but the opposite of it. He compares bitcoin to an artwork. A work of art have very high value and a limited one, even more. In a sense, he is like saying bitcoin has 21 limited very high valuables item divided into 100 million high-value pieces.

I also think bitcoin is not a money, and I think that what you want to say is that bitcoin is an asset which is true. People are using bitcoin not a medium of exchange but being used for trading, mining, investing etc.. so basically it is used to earn profit, which is a function of an asset.

Interesting analogy. I think op just wanted to exalt bitcoin seeing it in a deeper way than just money.
But in fact bitcoin is money, it's investment, it's an asset or even digital gold, if you want to call it this way.

What Op has stated is an view from an artistic perspective, this is where the technology succeeds. It gets the way as we look upon. When we give consideration as a currency it is a currency having similar usage as fiat in our daily life. Whether it is money, art work, technology or whatever might be, we're in need of the same as it has got value.

Bitcoin may not be the literal money that we use to purchase anything in the world but we can convert it to the accepted currency and buy something. If what your saying is true that it is an artwork, it shouldn’t have so much value attached to it.

You have your own way of explaination but if you consider bitcoin is not a money instead an artwork with 21,000,000 limited editions. I wonder if your artwork can really buy something or pay something.

Bitcoin has been accepted by countless companies already therefore we can define bitcoin as money because we can use it to buy something, not only in the web but there are restaurants and other local companies who accepts bitcoin as a payment already.

A newbie ranting about bitcoin. It is a digital money. You know what I mean, right? We can now pay goods using bitcoin. It isn't money for you even if we used it as an online payment methods? It is not a physical money but we can purchase anything now by the use of bitcoin.  Anyway, it's your point of view. Whatever your point is, it will still depends on how we consider it. An art, a money, an investment or an asset.

I love your reference to bitcoin as an artwork. As a great artwork, bitcoin can be considered to be an expensive one and just like an artwork its value is rising. In extension, just like an artwork it can be kept as an investment and likewise can be traded anytime to the highest bidder in the marketplace. So is bitcoin money then? Well, to me if I can use it to buy anything and I can convert it into my local currency, then it is functioning as money and I don't care what form it might be.

You need to go and do some researches about bitcoin, its technology and economic reward, without which, you won't be able to benefit from the next economic paradigm shift. If you think bitcoin is just an artwork and worthless, may I request that you kindly credit my bitcoin wallet as shown on my profile address, so I keep them?   

Let's argue about Bitcoin. Bitcoin is digital money that we cannot physically hold. But we can use it as investment, shopping or transfer of payments online so it is very multifunctional.

Of course, not, it is a digital asset which we can use for multipurpose; like for trading, buying goods, etc. The use of Bitcoin as a currency is one of its application.

Bitcoin was created as an alternative means of payment to the existing existing payment systems, that is, as a new kind of money. He also has all of their qualities and is also used as a means of payment in practice, although not so universally. Now bitcoin is used more as an investment vehicle than a means of payment. However, after the legalization of cryptocurrency by the states, this should be leveled off in the future.

Bitcoin is based on technology so if it's more of a technological artwork. You are correct about the limited availability of bitcoin but before that is exhausted it really going to take a good amount of time.

Most of the people bitcoin is new form of real digital money, I respect your opinion what bitcoin for you.


I Agree bitcoin create to give ways convient sending fast transaction anywhere we are using new technology the internet connection meaning new era goes iinto digital technology like this new money bitcoin.

  I endure bitcoin as a source of my earnings that can be converted into money. In a practical way, bitcoin has been launch in an appropriable way that's why many people resemble to invest and give importance to it,  because of its huge potential and high liquidity that can provide our daily neccessities. But I think it is matter about our individual perspection by acknowledging how bitcoin gives value to our own vision.

bitcoin is not money. you won't get any benefit if you consider bitcoin as money,
many people are successful in this bitcoin community because they invest, means bitcoin is an asset.

Bitcoin is a digital currency, not like fiat money, but can be bought with money. And bitcoin is the best investment I've encountered, more than investing in a bank.

Some could argue here that bitcoin is money from the people for the people. a digital currency that can be used as money would fit.

I guess weve got some good taste in arts though because we bought many yet we are earning from it not the artist. The longer i am in cryptocurrency, the wierder the people who gets their own definition of Bitcoin. Its funny how can i buy coffee with artwork or getting payed by artwork with the rendered service.

What is important to me bitcoin has it own value. Money or not it still has value and can be use to buy anything that has price on it.. Bitcoin is not fiat but it has value..what do we call that?

Let say bitcoin is not fiat money, but bitcoin has a lot of value and is like gold but when we want to buy or to sell bitcoin we use fiat money because on most shops is not accepted bitcoin.

Artwork cannot be used as a payment method. I think your argument is wrong, bitcoin is a digital currency like other digital currencies. Bitcoin like fiat money is able to transact like ordinary money and he is not a work of art that is only a display.

Artwork is something that can be enjoyed in terms of its beauty but not with bitcoin, bitcoin chooses usability.

At the moment even banks are investing in blockchain technology and mixing your credit cards "money" with bitcoin (and many other cryptos) for me yes, that is taken as money.. even banks accepted it why would you guys not? lol

What is the definition of money, you must first learn what money is and for what money is there. BTC can be spent like money and its very clear what is BTC and the common money in general but some people have their own views and BTC is interpreted as a wealth asset, BTC and Money is a means of payment tool You should know that.

Artwork is a completely different thing from bitcoin or money so let's not compare this as they would be one and the same thing. You can do a lot of operations with bitcoin, most of them you can also do with money so in some way you can say they are similar while artwork cannot be included in this discussion.

I think if bitcoin is not money but bitcoin has the nature of money that can be used for useful things like shopping. Bitcoin is now increasingly trusted for the payment system so I think bitcoin can be like money in the future.

What do we use money for????? To buy and pay for services, right?? Can't I use btc to do same??? If yes, then what is your point. Well, it is to each and everyone what you want it to be.

In my country I can buy a fish with rice, should I consider that the rice is money? I think not but rice is something that I can use to buy something like a fish. As well with bitcoin, I can buy everything as long as the merchant accept it because bitcoin has a value. So, I don't care with everyone view about bitcoin, they may say bitcoin is not money or bitcoin just an investment place but for me bitcoin can be use for the both function. And it was amazing for me to know and I can use it in my daily life.

bitcoin is indeed not money because bitcoin is a limited stock just like gold so if bitcoin is called money it is not right, what is more appropriate is bitcoin is a form of long-term investment in the online world

The question is what constitutes money? A dollar bill is nothing but a piece of fabric backed by the "full faith and credit of the United States Government". Unlike US dollars Bitcoin is not running on a fractional reserve. You know what you get, and it has an intrinsic value given to it by its users.

Best comparison I can give is gold. It has no real value, but it's a scarcity with real life application, so we grant it a specific value. In my opinion, Bitcoin is superior to gold, given it's so easy to move, divide and trade. So perhaps we should call Bitcoins digital gold.

ha ha ha ... you mean bitcoin can't be money as fiat and tends to be more like a valuable asset whose price can change and can't be controlled by the government as gold. I think I agree with you because bitcoin is different from the amount and prices can be controlled while bitcoin is not like that

Gold is just a metal but it is money, in the same sense, Bitcoin is just numbers but is money. Bitcoins can be acquired with exchanging fiat currency for it hence it makes it the same equivalent of money used to purchased it.

Bitcoin is a digital crypto currency thatvis popularly used as an investment or a form of payment on so many countries, i think bitcoin is also considered as money because it is convertable on fiat and it has really a great and amazing price. I think we can also call bitcoin a money because it is really becoming popular in terms of payment.

Well, it's a paradox that we call dollars money. It's only considered "money" because it's backed by the United States Government (and the same goes with other currencies). Bitcoin is not backed by any institution, nor is it really a commodity the way gold is. Bitcoins hinge on real life applications, and its role as a mother coin. I see a bright future for bitcoins, given ETF's are approved (which they certainly will be down the road) and people start using it at a greater scale.

Depending on the person who interpreted it, those who believe in bitcoin would think bitcoin could be money for payment, and some think bitcoin is not money because it doesn't have a physical form like fiat.

Bitcoin is a money rather it is a digital assets  in form of currency. It is the most powerful assets on the planet  right now. There are several ways to convert the bitcoin in real cash and then move it on any bank for further  use.

You can buy some stuff using bitcoin if there is merchant who accept it, what does this mean? I thought bitcoin was money when the first time it was created. If you read the whitepaper of bitcoin made by satoshi then you will find some points stated that bitcoin is money. So, what is your problem here? If you have some statements which make you doubt againts bitcoin is money or not then you have to explain in detail, don't just made a statement but you don't explain it.

How can you say bitcoin is not a money if you can bitcoin use it buy and pay something online
bitcoin is not a artwork but a currency there are also some physical shop that starting to accept bitcoin

Isn't money just something of value people trade between one another. It has value because we have agreed to give it value and allow us to carry with us currency. So we can trade with a few different currencies but by thousands of things. This way we don't need to carry thousands of things around because the "money" has a rating that can be exchanged for those things. That is all money is really.

 It seems to me that Bitcoin is just money.  Because there is a certain amount of it and it has value.  I believe that if it explodes legally, it will be a coup in the economy.

I'm really interested in what will happen to bitcoin when it is extracted completely. It really can be attributed to some limited edition. After all, two developments are possible. Either bitcoin will become a payment method and be stablecoin or its price reaches huge values. I'm interested to see that.

You can interpret what ever you like, you can purchase products with that art work and sure it is a limited edition and still there is no concrete answer on why he choose that particular figure for the maximum amount of coins, you just started a topic and you have nothing else to say, what is your understanding of the technology and the art market which is soaring above $200 billion as i write  :P.

With the same success we can say that Milk is not money. And what is there to understand. Yes, Bitcoin is not money and gold is not money. But as long as people are ready to give good money for Bitcoin, it will be valuable.

Sure it is money :D
How will you get Bitcoin in form of virtual currency? You need someone to actually buy or mine for you to get those so called Bitcoins right ;)
If it was some Virtual Game currency then yeah i would not call it money since you can not exchange it with fiat.

If it is called currency already, I will be not too much surprised if soon we will hear that Bitcoin now is qualified as money as well. By the way, it is a type of money already - you can buy things for it, correct?

hello! I think that that it’s difficult to define what is money and what is not. Fiat is paper with a numbers on it, it’s just a symbol.
Then btc is a symbol too. Going digital is just a transition into new society where electronics prevails.
And such things happen not only with money, as we’re talking about robots replacing humans lately.

in my opinion, BTC is a currency that is not recognized by the world.  the meaning is BTC is only used as an asset for investment and trade. 
very sad.  BTC progress is very good.  but the public doesn't care about BTC and other crypto. in the future, I hope the world will accept BTC as a legal transaction tool and become a legal currency.

Its already recognized by most countries and btc is not just a currency but its also an asset  .

Not really  . Most people uses thier btc only for an asset use while there are some that uses thier btc for payment and buying  . You dont need to feel sad because thats only normal and infact that was the reason on why btc prices rises the most  .

Indeed , btc is improving but it cant improved if people didnt care about it  . Btc is accepted as s legal transaction tool only for those country that accept and legalize it .

Bitcoin is money because you can make a large number of transactions and economic exchanges that are only affordable for those that have the necessary capital to carry them out, such as the purchase and sale of goods and services, investments, loans, etc.

The fact that some businesses do not accept bitcoin as a valid form of payment does not diminish its value and importance, just as the fact that in some places they do not accept credit cards but this does not diminish their importance in the financial sphere.

Yeah, we know it already. Money is paper currency and bitcoin is digital currency. Though they have the similar characteristics, they differ from their own appearance. Bitcoin can be sent international without going outside your house. If you just have internet and bitcoin, you can pay all time.

Never mind the OP because he seems not to understand the definition of money  before concluded that Bitcoin is not money for anything that is serve as medium of exchange is money. However, the only thing which make Bitcoin different to fiat is because it can held and back by fed while Bitcoin is a true symbol of democracy.

That’s true, bitcoin is a better currency as of posting because of that great technology where you can transact around the world without hassle. Bitcoin is not a money but it can give you money or profit where you can use to reinvest or buy things in real world.

but in my opinion bitcoin can also be said as money because it has some feature that money has such as can be used as payment tools and has value

Money can be use to buy and pay any things for living so Bitcoin curency too. If real money can be use in legal and illegal activities same with the  Bitcoin too therefore Bitcoin like fiat is the same money and the same concept but just in different platform. So no doubt Bitcoin is a money too.

I really don't understand what you are trying to point up here. Clearly bitcoin has something to do with money since it has a price in USD or other fiat currencies that are really huge. Some of the people don't just accept payments in bitcoin but clearly bitcoin is a currency and you can purchase things by using it.

So, it's money.

Literally, you could say the same thing about dollar bills. Money is anything that holds value/can be bartered w/.

It's statements like these which will only confuse the public about bitcoin more. It's money.

According to google, money is a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.

Bitcoin is considered a "coin" so it is considered money too. Its just that Bitcoin is only digital but it is considered money OP. Maybe you are just one of the stupid newbies here and you just created a brand new account to spread some stupid information :D. Well done :D.

But bitcoin can be used as a payment tool, and not only that, bitcoin can also be used as a means of investment

So going by the same description, would you say that gold is also money? For sure, gold can be bartered and it is accepted in far more places when compared to Bitcoin. The same can be said about United States Treasury Bonds, Equities and Mutual Funds. So I don't agree with your logic. All these can be classified as investment assets, but not as money. Bitcoin was originally designated to be a currency. But nowadays it is acting more like an investment asset.

Gold is indeed money.  Bitcoin is money.   It doesn't mean it will always be money (the same for US$ or any other fiat currency).    At present it is.    You can readily exchange all three (gold/bitcoin/fiat) at their respective market rates.   

Everything that has great value is we considered money and we may barter it into goods, bitcoin has great value so we consider this as a currency that can able to make transactions through the internet. Bitcoin also created because they intended to be a number one of universal cryptocurrencies which is having P2P transaction that really helps aside from banks. But sad to say only a few countries accepting on this.

So every day people are buying food, gifts, paying bills and paying taxes, and even gambling (like me) with limited pieces of artwork,,, what a weird way of seeing it. It is an idea that works for hodlers and investors for sure, but even then not really because artwork collectors usually just keep and never sell,,, true hodlers.

For me, bitcoin is an invisible entity. classify it based on each person's perception. Bitcoin is money or it is also a speculation. In other words, blockchain blocks are creating a modern currency. At the same time, the progress of decentralization creates an invisible power. Bitcoin provides a multitude of potential values, efficiency and growth.

What can be called art is necessarily something of value. Valuable things can be regarded as money. In my opinion, BTC is a milestone in the history of money.

and who told you so??
Well, that's how you choose to see it, other people see it in a different way, I personally think that bitcoin is a digital gold, a store of value, when it comes to everyday spending, I don't think bitcoin is good for that due to its high fees at times, BCH is more likely to be very good for day to day spending but bitcoin, I personally treat it as a store of value

money: limited value
Bitcoin: unlimited value

I see it as a means to obtain goods. After 5 years of hyperinflation, i lost any attachment for physical money, i don't particularly care if the transaction is electronic, if it has 1 zero or 8, its all meaningless. Its basically, the means of being able to purchase something you need.

And for me using satoshis or bitcoins is just as effective. Fluctuation? Meh, bitcoin is rock solid next to our garbage fiat. Every single day prices change under hyperinflation, so who cares bitcoin does the same?

Only people living in first world economies would, they just don't know anything else. I would feel weird not to check the new price of an item everyday. What, do you mean it remained the same as yesterday? Quick, buy it before it changes...

Under deflation, things are expected to slowly become cheaper, as in 2% annually. I expect something like this to occur in 50 years or so, when bitcoin fluctuates less and less due to reaching maturity. The fiat currencies are probably going to get weaker and weaker and start fluctuating, downwards, of course. The moment world economics start noticing and switch to Austrian school, abandon fractional reserve banking and reduce or remove all State intervention in the economy, finally embracing the way deflationary coin with actual voluntary money savings, the one YOU (optionally) pay banks to keep your money safe, and not the other way around.

Of course banks are going to shrink, but what money they declare becomes real and not like today where 90% of the "circulating" money is vapor. To make it simple: When bankruns cannot bankrupt a bank anymore. Like the bank of Amsterdam once had...

Bitcoin is digital money but its function is not 100%
I suppose that bitcoin is gold. later when in the real world bitcoin is already widely used for exchange tools, 100% of bitcoin functions as a currency.

One can in different ways be called bitcoin. For someone it is something like gold, for someone it is money. Someone is just speculating with them. No matter what people call it, what matters is what it means to all of them.

So what do you think bitcoin?  It is money for everyone,  we can earn money by using the bitcoin so why did you tell the bitcoin is not money? Even they have many people who do not have money before but because of the bitcoin they have now and plus others are millionaire so tell me right now the bitcoin is still not money? I think for you bitcoin is not money because you don't have bitcoin even some satoshi.

You are indeed new to the whole ideology of cryptocurrency and Bitcoin to be specific. Bitcoin is an alternative way too store money in the form of digital coins. Just like paypal, Bitcoin is a decentralized form of money that gives its users financial freedom to send or receive funds in the form of Bitcoin at any part of the world you find yourself.

OP doesn't even know what he/she was saying.

I may quite agree that it's an art of satoshi and can consider one of the greatest art when it comes to digital money. I understand that you are a newbie and don't have enough knowledge what's Bitcoin all about. Bitcoin is money(I bought something with it so that makes it money in a way  8)), end of the story.

How did you come up with this?

Money don't have limited value and zimbabwean dollars were a good example. They were inflating until people had to carry around a hundred million dollar bills and they were still struggling to buy groceries. You can't predict the future value of a currency. It has a limited value but only here and now.

The fact that bitcoin can be used to pay for products and services makes it a type of money. If we say bitcoin is not money, the whole idea of replacing fiat with bitcoin becomes defeated.

No wonder this account is a newbie account because you don't know what you are talking about and I see you don't even know kind of platform you are posting this on. Just go back home and study your books and come clearify yourself buddy.

Well, bitcoin is not money, but bitcoin is a digital coin as an investment opportunity that can make double the money even many times, but if bitcoin is not used well then it might not benefit at all.

Bitcoin as Money, You can exchange bitcoin into product what you want, bicycle, car, house, property, goods and anything. Online store around the world should be exchange your bitcoin. same like fiat, bitcoin have value and have limited suply different as fiat.

It's not money but a currency which is used for online transactions like gambling and online shops. I don't know what's your point on this but I guess you got the wrong idea.

Double the money? I mean there are a lot of times that Bitcoin made that possible but not all of the time. Being positive is not a bad thing but we should not always say that since most of the people thought that BTC can actually double your coin instantly not knowing how volatile it is and what are the risks in investing in this crypto currency.

By and large, Yes bitcoin is a work of intellectual art.But still I can argue with You about the fact that bitcoin still plays the role of money as well as other very interesting functions.

I recall the billionaire Mark Cuban has compared bitcoin to collectibles given its built-in scarcity. So I do not necessarily oppose the perception that it is a form of art - bitcoin is an idea, a philosophy, a creative work in the form of a whitepaper and code. But all of this does not mean bitcoin is not money. Bitcoin can be different things to different people.

It is a work of art with a lot of value and that value is in money, whose price can be obtained a lot if it is handled in the way it is currently, since it is in an area of ​​accumulation, where the ideal is to buy.

Many bitcoin enthusiasts defend a lot for the blockchain technology that they carry out, which is great and can continue to be expanded, bringing much development to improve processes, in fact in larger companies they are evaluating the way in which blockchain can improve processes.

By improving processes they do it more quickly and it is 100% reliable because it is incorruptible, and this makes the processes transparent, on that part if it looks like a work of art, and they are 21million but can be already less, because you have to take account those bitcoins that have been lost, this makes their value is aggravated much more because the supply becomes smaller. So in all the sense of the word is a work of art with an incalculable value that can oscillate with different prices according to the stage of the market that is living.

It is necessary to emphasize that not only speculators, investors and enthusiasts defend the bitcoin, there are many people who day by day continue to add to the fever that makes bitcoin awaken, and this results in many investors as is happening right now in the market continue to invest in bitcoin.

it could be the main important point of bitcoin, as a pioneer of digital currency that is very well known in the world, and currently bitcoin still influences other digital currencies.

Paper money is just a paper. It's no more than a paper which the citizens are forced by government to accept it as medium of exchange. Although its has value because it used by people as medium of exchange but government sometimes print it in excess then makes the value decrease. Money can be created by anything, the important thing is the money can become good store of value and ease people to do transaction. People in the past exchange their gold for paper money/banknotes because paper money/banknotes is easier to use. Now there is a currency that better than paper money which is  cryptocyrrency. The best cryptocurrency is bitcoin, let say we always move from old way to the new one. So it will be a wise decision if we use bitcoin rather than fiat money.

everything you can use to buy things has to be counted as money, what else would you call it if not money. Ofc some people use it as a investment but so do they with "real" money but we still call that money dont we?

Thats art? all art is valuable, so thats why bitcoin has value and price. More worse is on fiat, they have unlimited supply, they can print as much money as they want and that can make their currency worthless. which one is better fiat or bitcoin in terms of money?

yup, people's perspectives are different. But the fact that I got that bitcoin is really not money but bitcoin is a currency. Money is a medium of exchange whose shape can be seen while the currency is a means of payment / exchange instruments such as usd, sgd, etc.
People can collect money as a work of art but they cannot collect money, so what is your point of view about this?

bitcoin is not money and money is not bitcoin.
both are currency and has value and can be used as a medium of exchange. bitcoin can be likened into a cheque which has the value that can stand to purchase item but may not be generally acceptable. that is it. bitcoin cannot directly be used for petty trading but money can be used.

So if you say that then fiat is just the same piece of artwork. But not limited though and people exchange those paper that has the same fabric but only has different value because the value designs.  Bitcoin is so much better to be recognized than money because of its complexity and innovative use and it's time to forget the fiat.

Whatever the hell bitcoin is I am loving it. Who the hell cares about your FUD campaign.


Don't get the wrong idea get some facts instead being a medium of exchange itself is a primary  feature of a money therefore both currency  can be considered as money. You are referring to fiat which is a paper bills or coins and not money itself. Considering the definition of money both Fiat and Crypto are qualified having different categories

Bitcoin is not money but can be used like money as an alternative payment for transactions with fellow bitcoins, and bitcoin can also make money by exchanging bitcoin with real money to be able to make purchases at all traders in general.
both are profitable and function as payments or transactions.

Indeed, they've got the same functions if being use in the right channels, both can be use for transactions but in the other side the concept
of having physical preference is not applicable with crypto/bitcoin, but the usage can act simultaneously.

bitcoin

Bitcoin is a work of art, a program, money, investments and everything that people think of to do with it. Cryptocurrency is a universal invention not only in the financial world.

Yeah, it is not actually money and so does bank notes. those are just papers with some contract printed on them and guess what banks can print those papers whenever they want but we do not generate as much internet tokens we can it is limited in the system. So with bitcoin, you can use it in exchange for money no matter if it is money or not.
Its Math Money Lol

According to the Italian Revenue Agency, which deals with state finance, Bitcoin qualifies as a foreign currency (Interpello 956-39 / 2018).
Italy is not the only country to treat Bitcoin as a currency, there are already dozens of other states that have legally affirmed it.

Bitcoin is still equal to money because you can exchange it to the accepted currency to buy things. Bitcoin is not a real money that you can use to easily buy things but it is a source of money. I think the only person who will say that it is not money are those who don't really know what bitcoin is.

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Bitcoin and money has the same qualities that is for transaction purposes though Bitcoin is decentralized while other fiat currencies are centralized. Bitcoin play a good role for investment purposes. Above all Bitcoin is money because we can you it to buy anything of our choice both online and offline despite the fact its not generally acceptable like other paper currencies.

Bitcoin goes beyond mere money because its utlization is broad and cuts across various aspects in life. It has become the standard of measurement for most cryptocurrency on the market which makes it a global spectacle. Bitcoin is seen by others as currency, whereas others see it as an investment opportunity. Some also see it as an asset. What matters most is that the ability for it to fulfil what the user intends to utilize it for.

I know it seems like silly little internet money, but I believe in the technology. Not trying to sound crazy. It is an investment and can hit ZERO, but I seriously doubt it. Been riding the wave for 5+ years. It started with gambling with it, but then I bought a bunch and HODLed...

Honestly, literally and physically Bitcoin is not a real money,  if you are going to compare it into fiat currency.
but in terms of digital currency assets, for me it is money. Why? Do you know how much each bitcoin now? according to
https://coinmarketcap.com/currencies/bitcoin/ it is 8661$ each bitcoin, and it can be up or down in an hour due to its volatility.
Also, if bitcoin is not a money for sure bitcoin won't stand for 1 decade and no value now in the market and it is not exist
anymore. But that's not what happened so far, instead many whale investors and big companies adopted it and embraced the
potentiality and uniqueness of bitcoin.

I think you need to know how bitcoin works so you can recognize it is currency and money.
most people can speculate here that bitcoin is your money for you, which can be used as money right.

Yes, I agree. You can also buy a lot of things using BTC or pay for some services with it. I think that's one of characteristics of money. I believe that cryptocurrencies will displace physical ones, but for now - it's still a distant future.

Money is an accepted means of exchange and measure of value...if we go by this definition, Bitcoin can be evaluated to be called money because it is a means of exchange and most importantly a measure of value. 1BTC is over $8,000☺☺

Bitcoin is not fornaly recgonized and legaly regulated as money or to be more precise as currency. Still that doesn't stop it to function as a payment method so many people, including me, use Bitcoin for buying different goods and services. So although is not formaly included in financial and monetary system of any country Bitcoin is still used as money.

That's correct, if bitcoin is not money, why people are hoping its value will increase?
Further, the fact that we are investing on it, that would determine it has a monetary value which we like to see higher in the long run, so we can take profit. There are also articles that are saying money or fiat will be replace in the future by crypto, and I think there's a slim possibility.

Bitcoin is more than money its holding asset for me its more value than gold having limited supply i was getting gold for future purpose now i concentrate on collecting bitcoin . Hope in future even 1 Piece ( satoshi) will equal to 1 $.

Even better, you got a share in a asset you can trust without a middleman and under your own control.

So when you say artwork then we cannot use to purchase something unless we converted into fiat first?and why it seems that you created an account to create stupid thread?why not just find you way work and have some living than just bullying crypto specially bitcoin

Bitcoin is not money but you can convert it into money through exchanges so for me I still consider it as a money as I can use it in paying also my bills.

Who, who says Bitcoin money, no one acknowledges that bitcoin is money,
what is meant by bitcoin is: BITCOIN (https://en.m.wikipedia.org/wiki/Bitcoin)
What can be said is that Bitcoin is a form to make money when people understand trading and investment systems that is the Bitcoin savior for the general public, poor and rich.
so this Bitcoin is a system that plays with real money every country.

Fact check...  What is money?

We all agree that Bitcoin is a currency right?  Because Bitcoin can be:

a medium of exchange
a unit of account
portable /durable
divisible
and fungible

it only become a money if it can be a store of Value. Bitcoin can be a store of value so we can say Bitcoin is money but Bitcoin because of its high volatility can be considered poor kind of money.  Since the definition of good money is :
https://i.imgur.com/WmFrlCe.png

source : https://www.philadelphiafed.org/-/media/education/teachers/resources/fed-today/Functions_and_Characteristics_of_Money_Lesson.pdf

In short Bitcoin have all the characteristics of money even though it fare poorly on the stability but it excel on being scarce.  Poor money or good money, Bitcoin is, by definition, a form of money.


learn more about  currency and money here : https://youtu.be/DyV0OfU3-FU?t=239

---

edited for more source

People give value to things. Why FIAT currency is currency? Beacuse a lot of people accept this and use it.

Nicely said ,
It is what we think it is ,Because most of us also see's it not as a money but as an investment,
So we all have different opinion about it but it is quite true Bitcoin is an art of a famous artist hidden in the pseudonym Satoshi Nakamoto.

For artwork with 21 million limited editions, it is so over-priced but I did not say that Bitcoin does not deserve this kind of price. Bitcoin deserves it that is the same as the investors that own parts of it. It is true that it is not money, for me, it is a masterpiece by one of the greatest person or group that this world ever has, Satoshi Nakamoto.

It is an asset but it can act like fiat/money.
So when I see people comparing between bitcoin and money, they are not the same.

When bitcoin being launch, it's really change people's mind about transaction and investment can be done at same time !

When we label something as money, it must be having two important characteristics. First of all, it must be accepted in a majority of the shops and retail stores. And secondly, it must have a stable exchange rate versus the universal trade currency (i.e the United States Dollar). Unfortunately, right now Bitcoin is devoid of both these characteristics.

i do not agree with this, i think btc can be regarded as money because like you said it possess the qualities or characteristics that can be seen in money or any medium of exchange, money represent a medium of exchange or something that is use to transact same thing applies to btc, most people regard btc as a store of value so they they hold on to it, and you can not tell me that btc is not use as medium of exchange or for transactions in both online and offline stores this days, long time ago btc was use to purchase pizza ;D just like you can use fiat, btc already possess this qualities and can be regarded as money, the acceptance maybe limited.

LOL, you must be an artist OP comparing bitcoin to arts and I respect your point of view since bitcoin is also important nowadays just like artists do on their artwork. Yet, the most common thing that an individual will going to compare on bitcoin is definitely that bitcoin is more like a money, a digital money. Thus, it allows other user to transact using bitcoin as a medium for exchange and besides many had believe its worth this is why the market price of bitcoin has made a huge increase.

Another thing is that there could be a possible hype that will lead bitcoin to bull run.

Your wrong bitcoin is digital currency you can use it to pay bills same like fiat and if you want to make a real money you can sell it into the exchange,much better research properly what is bitcoin so that you can get idea and how important it is.

But bitcoin can have use as a payment process, and I don't think deeply about it and the most important thing for me is that bitcoin can have use as a currency and also as an asset.

You should learn more before saying something like this  ::)

@OP how else can you describe a medium of exchange if you don't think btc is money? i think your point of view is very wrong and should be changed, btc could be definitely regarded as money money because it clearly serves some of the major purpose real money can serve which is been use as a medium of exchange, as a store of value, any other thing is secondary ;D this two to me comes first, even though i have not use btc to buy anything yet but many are using it to transact without stress, btc is evolving you should know that.

The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.

This is very confusing topic about bitcoin. As Bitcoin is not money But Bitcoin is money. ;D :P ::) ???
So you have to say Bitcoin is money But not a paper Money.
My opinion, Bitcoin is Virtual money

Bitcoin is defined as “crypto-currency/digital currency” and currency is money so its money for me. Bitcoin consist numbers and so does money. Your definition and mine do not change what it is anyway. For some it is an asset, a store of value, for some they buy pizza and coffee with it so really dont make sense how we call it.

Honestly, Bitcoin looks more money than a paper dollar bill. Check the comparison https://www.wallstreetmojo.com/money-vs-currency/

Bitcoin is not money But Bitcoin is money. So you have to say bitcoin is not a paper money Bitcoin is a digital money.
My opinion Bitcoin is a virtual money

If the definition of money must be physical, such as US Dollar, Pounsterling or Euro, it is certainly difficult to say that bitcoin is money. But if you see its function as a legitimate payment instrument in a country that legalizes bitcoin, it is money that is used digitally.
In my opinion, it can be concluded that bitcoin is future money that is used digitally, so there must be additional devices so that transactions can be carried out, namely the internet and computers or cellphones.

it's true that if you have assets, and you hold your own assets, I think the best investment for now is bitcoin

You can see that although at the moment the price of bitcoin is very high and is at $ 8600/1 Bitcoin, for me bitcoin is still not a currency because simply bitcoin is not recognized by countries around the world. and for legal circulation.

It seems you are interchanging terms here.  I think you are refering about currency.  Money doesn't have a physical entity.  If we goes by your definition of money then what can you say about online money transfers?  I would refer you to my previous post that discuss about the difference of a currency and money.

Please check the link, there is an infographics that state the difference between currency and money
                  ↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓↓

21,000,000(21M) can't actually be limited edition. Why not we face bitcoins as they are instead of comparing them to any such kind of stuffs. Bitcoins are not yet compared to money but we should expect that bitcoins has the benefits and guts to overcome money and even rule the financial systems. There are a lot of markets currently which are accepting bitcoins as a legal mean of payment on their platform which is actively converting bitcoins from an artwork to a monetary financial system and it is our whole and sole duty to accept bitcoins in the form they could benefit us. Each single satoshi is going to have vast importance in the coming time.

Of course bitcoin is money and it is the most famouse cryptocurrency in the world. Bitcoin is digital money. Many people send and received bitcoin as a money. So if you say that bitcoin is not money then I will tell you that you are wrong. You should need a proper knowledge about bitcoin. I think bitcoin is the best money in the world. Bitcoin is money there is no doubt here.

Thank you

it's is money, it means this is digital money so we can buy anything and we can pay bills also but it's value depends on market cap so this price is keep on changing.

Bitcoin for me is money, even We can't able to touch it literally but it can convert into fiat currency which is the real money.
Then bitcoin has a similarity into credit card were its an electronic payment not physical money but can able to dispense currency. aside from
their differences was that Credit card categorized on centralize based system while Bitcoin is decentralize.

As long as you can use something as universal means of exchange it is money. You can use bottle caps like the ones in that game fallout if people agree to use them. It's best if the money is limited in supply so that people cannot make them at home and acceptable and that's all you need.

Bitcoin is still not accepted all around the world but it's already accepted in enough places to be called money.

Exactly.  Beaver pelts were considered 'money' for 200-300 years in colonial North America.   That said, probably also a good example of why one shouldn't fall in too deep of love with any kind of money.   Crypto may indeed go the way of beads, beaver, and paper money.  Know when to get in, trust your senses as to when to get out.   Barnes and Noble used to look like a market favorite compared to Amazon (if you looked at their bottom lines back then... Amazon had about $20 million in sales while Barnes had around $2.2 billion)... glad I didn't HODL that one.   But I did buy and sell it quite a bit in the 90's.  Don't forget to take your profits.   Your homes and land will still be there when the dust settles and you won't even care about what stocks or cryptos you held back in the day.   

Bitcoin is an art but money as well. It's the digital currency that can now be used for the buying of goods and services in various countries.

For each person, bitcoin is perceived differently, for me bitcoin is something innovative and promising means of payment in the future, sooner or later we will come to the fact that most people will use the payment of transactions and services is cryptocurrency and blockchain, I'm sure.

Money - a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively. (Wikipedia)

Definitely it's not a money since it is not a form of coin but we can consider Bitcoin as an asset or an electric or online money... an art work? maybe not? a gold maybe? but the difference is that we can predict the numbers of what we can mine rather than the gold which we can't define the number of its resources, We can also compare the silver as an Ethereum.

Yes, bitcoins can definitely be compared to digital money as we all know that bitcoin transactions are been carried forward on the blockchain networks where miner mine the transaction from one address to another. Actually even we can earn bitcoins for just transferring the coins as a medium of miner. Bitcoins are a digital form of currency which has the potential to overrule the coming markets and also a lot of potential investors are hopping into bitcoins which is giving them vast growth and we all might soon expect bitcoins getting a title of "Legal payment mean" which would be used globally in each such markets to buy/sell commodities.

In some countries bitcoin is considered an investment commodity and not as a means of payment, but in some countries there are also those that apply it as a payment instrument usually applied by online stores that serve buyers from all over the world so they choose to use bitcoin compared to conventional bank transfers that take a lot of time and the costs are quite high.

I think bitcoin is money in digital life as we now lived on the internet by doing many things, so we need a new currency to pay online. Maybe we have Paypal, credit card or debit card, or other payment, but bitcoin will be a new way for people to make a transaction. Bitcoin was also the money in offline life because in some country, people can make a transaction with bitcoin and they can buy something using bitcoin. I hope that soon, all country will accept bitcoin as the payment method.

I disagree. Bitcoin is totally a money, that is why we can use it to buy the things that we need and pay all of our bills.

This is misleading and people should be provided with proper knowledge about Cryptocurrency and Blockchain. Cryptocurrency is a digital asset where it could be used to buy and pay for something where internet is available. Bitcoin is a Cryptocurrency where it could be used to pay and buy for something we need and therefore it is a digital money. Bitcoin might be called an Artwork but it is still money because every artwork has an specific equal value of money.

Your point of view is interesting, but honnestly, it is not, if you look around you does the mass is using the bitcoin ? Does your neighboors or the granma who is going to buy his bred at the bakery is using bitcoin ? No !
And for me a money is something that the most part is using, i can't currently buy my bottle of milk with bitcoin for example..

One day Maybe but currently no.

I can't use Swiss Francs at my local 7-11, but it's definitely money.   I have to go to the ATM first and withdraw Singapore dollars (converting them from Swiss Francs automatically).   End result = 1 bottle of milk purchased with CHF.

I can't use Bitcoins at my local 7-11, bit it's definitely money.  Couple of similar steps involved.....  End result = 1 bottle of milk purchased with BTC.

 :D

Bitcoin is not a currency but it can be used to pay any cost that accepts it. Bitcoin is worth more than money, but it has a fixed supply and cannot add. The value of Bitcoin will increase every day, but the money will always keep the price the sister it has.

If you ask central bank in my country, Croatia, they will tell you that bitcoin is not money or financial assets.
They issued public statement about it last year.
It seems that we need new definition here: What is money and can we already talk about different kinds of money and financial assets?
I think this is a good question for economist experts.

bitcoin is not money but bitcoin can be like money because money is a tool of exchange and anything of value is of course equal in value to money.

for me, I think money will be anything the majority around the world will be willing to accept in exchange for something, money can be anything a group of individuals decides to call money, bitcoin is money because it's already been accepted in exchange for various things around the world.

Bitcoin is not money. it is a digital currency for the internet.
It's used like cash by millions of people and machines around the world.
Bitcoin is used in business, online shopping, and others.

Bitcoin is almost the same function of digital money, but it is different from paper money that can be held in hand, just as gold is not money. But you can easily exchange all three. to be used as shopping or paying to make things more comfortable.

As long as I can use Bitcoin for paying, I am fine with that. And that is possible with a lot of products, even ones where you do not think that it's possible.  :)

Fine, Bitcoin is not money. But you have also explain about it what it is Actually. We can call it is Digital Money. And its total number are 21,000,000 and in every coin has 100,000,000 pieces, and we call it Satoshi. Whenever we need money from bitcoin then we convert it into dollar and use it, Now you can't say that Dollar it not Money.

Can you differentiate between money and currency? it's the same thing as far as I know.

The money has a function to make a payment system yet for the currency is used for payment system also.

Can you define the difference detween money and currency?
They have the same use. Cash is money and you say that bitcoin is used just like cash so what it the difference between them?

If that's how you describe bitcoin, then how would you describe dollars and other fiat currencies? According to you, those are also some artwork sketch of George Washington, Benjamin Franklin, Abraham Lincoln and other presidents. It is just that those paper notes are not limited edition and unlimited amount of those notes can be printed :(. And don't you think limited editions are better than just the regular?

I think he thus expressed his admiration for bitcoin and how valuable it is that bitcoin has a limited amount. The dollar is more like Dogecoin which has no emission restrictions.

It is true that bit coins do not make money. But we can measure it in money. It is a digital currency. So it can not be compared to what is less than money, because it has started giving world-wide recognition as a means of exchange.

Maybe it is not real money but you can use currencies to get real money, or you can buy products through digital currencies in some countries

Bitcoin and other cryptocurrency is a solid means of exchange. It has many advantages over classic money, but also has its drawbacks. The fact is that it is a valid, fast, cheap and powerful new means of exchange.

Heh, money is not money. That's just an idea of exchanging something for something. Bitcoin does the same. It offers technological numbers for counting.

I don't know how you treated with Bitcoin. It's a virtual currency that means digital money and we are using that almost too many sectors. I can't compared both of virtual money and Physical currency and crypto never replace FIAT money.

That is how I see it. Bitcoin is not money. It is rather an asset like gold, silver, diamond and other precious mineral. We buy and hold it. We sell it when the price goes up. Aside this, I have not seen any other case use of bitcoin.

Lets just say bitcoin is not a money, but everyone used it to make money lol!. Bitcoin is a very useful tool with a lot of functions that can give you a lot of benefits that makes you rich in short "bitcoin is money".

Fiat is also just a piece of paper and because paper recognition has value, and I think it's the same as bitcoin because bitcoin has value then bitcoin can also be used as a payment method.

Some people saying  bitcoin isn't a money specially people the against in bitcoin, some people say bitcoin is the new kind of money use in future to replace fiat.
Meaning people need to educate well the importance of bitcoin as new future world currency to make all easy way using new technology.
For me bitcoin is money because I can use to pay my bill using online and I can use it to buy food converting into local feat.

We all know that since from the start. Bitcoin is a digital currency that uses to pay, send or receive btc in a peer to peer system. Bitcoin is not a money because fiat is a tangible thing used in order to pay also. They have the same uses but they are different in forms. Because bitcoin is a new brand of currency that performs by Internet.

I think bitcoin is not a work of art as you say, bitcoin is a currency that has been widely developed and has many functions. if you consider bitcoin is a work of art you must learn bitcoin more deeply and understand the purpose of making bitcoin.