Is bitcoin a currency or but also a money

[Wexnident]

It's somehow both at the same time? I mean, currency could simply be said as a label for the money we have right now. An example would be in the term "1 USD", 1 is the amount of money you have and USD is the currency. The same could be said with BTC, 1 is the money and BTC is the currency, and you can't exactly say that BTC isn't money since it still basically pertains to the amount of money you have. It's kind of confusing since we use such terms interchangeably and honestly, I doubt there's even a reason to differentiate between the two. It's not like you need to answer whether it's currency or money before you actually trade anything after all.

Still, I think currency is the one that fits the bill more if someone were to ask. I mean, the value of money wouldn't change if there weren't any currency, hence you can't really use that, but if you were to use currency, you could change the values and as such, make the existence of each currency shown.

[Lucasgabd]

bitcoin is both, but also: magic internet money.

though fees are still quite expensive to be used as currency for everyday purchases.

[jackg]

This is a little bit confusing for me. Is money not the same thing as currency again? Would you kindly explain this? On bitcoin, my opinion is that it is an asset and not physical money and that is why people buy and later resell for higher gains.

For simplicity purposes, I'm going to say that money is considered anything that is legal tender by countries...

Money includes fiat cash (issued by the government) but it also includes items such as gold and silver (some gold collections like the britannias are accepted by the UK government as legal tender for example). There's the potential argument that gold and silver are money as most central banks will readily convert it to cash in its face value (or you'll find someone who can fairly easily). But gold is considered to not be splittable which is very much the case (if 0you heat gold up it can lose some purity - you're also paying a high transaction fee).

Currencies on the other than are things that it's possible to break up into smaller pieces easily - like fiat money and Cryptocurrencies.

Fiat coins often have inflation but most things outside of the fiat world are deflationary by nature in the outer money circle.

[Jet Cash]

When considering payments, there are three classes. currency, money and mediums of exchange. Some things can be in all 3 classes, and some are in just one.

Currency is the legal tender of a country, and it may have no monetary value.

Money is an item of value that is generally accepted as a medium of exchange.

A medium of exchange is any item the two people agree to accept in settlement of a debt.

So a medium of exchange can be a cow, but that would not be money or currency today. Although I believe some African countries used cows as money in the past.

A nation's fiat currency is both a currency and a medium of exchange, but I would argue that it is not money, as it has no intrinsic value.

A gold Britannia is money, currency and a medium of exchange. It is legal tender in the UK, and it has a face value of £100, but it is 1 ounce of pure gold, so it has an intrinsic monetary value that is much higher. Obviously it can ( and is ) used as a medium of exchange.

[AakZaki]

bitcoin and altcoin will be judged based on the viewpoints of  communities and governments. if in our community we know the answer as currency or as digital money. the perspective taken because bitcoin can be used as a payment for any transaction, which is the value of a currency. while according to the governments in some countries, the value of bitcoin as a commodity asset and not as currency. so, if we want to discuss about this, of course the answer will always be different and will become a discussion that does not find a solution. like a common joke question in my country "which came first between chicken and eggs?" These OP questions will have answers that will be phrased based on their perspectives.

The perspective of Bitcoin in our country Indonesia is Bitcoin as a commodity asset that has received regulation from the government. For some other countries may have a different perspective, depending on the regulation that is set. But in Indonesia only as a commodity asset and not as a legal payment instrument.

The regulation of bitcoin as a commodity asset is based because Bitcoin has a high risk of being used as a legal payment tool. Bitcoin is also not a safe haven asset like gold whose price will tend to be more stable.

[Smartvirus]

Money is could be seen as what ever that is accepted as a means of exchange. Today we have money in various kind, the paper money, the metallic type and the cryptos.
The difference between cryptocurrency as applies to other physical currency is in the field of usage. As it is not readily visible but is an online currency within the web.
Else, it is as very much money like any another currency.

[Subbir]

Money is could be seen as what ever that is accepted as a means of exchange. Today we have money in various kind, the paper money, the metallic type and the cryptos.
The difference between cryptocurrency as applies to other physical currency is in the field of usage. As it is not readily visible but is an online currency within the web.
Else, it is as very much money like any another currency.

Bitcoin is more commonly referred to as a currency Most countries within the world use Bitcoin as a currency and are known in only a few places as money. But if the entire world supports crypto it'll become money Crypto isn't circulated in paper money for being operated illegally. it's widely used online and crypto is extremely popular within the online world.

[Mrengage]

Imo fiat is a type of currency and currency is a type of money...

I think bitcoin fits somewhere between currency and money because a lot of currencies generally have the qualification of being divisible and bitcoin has that whereas realistically gold and silver don't.

Long story short bitcoin is currency and currency is money so bitcoin is just in between the both just like you said. Now what will they call fait too?

[Casdinyard]

What about bitcoin? I will like you opinion on this but as for me, bitcoin itself is completely money because it is also a safe haven like gold, currencies can be seen physically but what makes the currencies money is the value they possess, this makes me conclude that bitcoin is money, bitcoin have such value and a safe haven people turned during economy inflation.

Can't it be both money and currency? Isn't a currency be used as a money? As for me, Bitcoin is both. It is a currency for trading, and a money that can be used for buying. There's no chance that that it would only be a currency nor only be money. Why? If ever it was only a currency, then there's no chance that stores nor services accept it as a mode of payment. And if ever it was only a money, then there's no such thing as Bitcoin trading and there would be no crypto market at all.