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Author Topic: Is Bitcoin Money or Currency  (Read 5234 times)
Mikospark
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May 25, 2018, 05:53:22 AM
 #781

Money is like something which is given as a mode of payment for goods ,services that we receive.Currency is the word used to specifically mention money .Here in the case of bitcoins we can call it as both currency as well as money as bitcoins are digital currency or digital money even though it is not backed by any government stocks or gold it has the same value just like the money but its value keeps changing every now and then but the value of real life money does not keep changing every now and it is something which is backed by government which has support of gold or stocks.
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pellor mas
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May 25, 2018, 06:19:13 AM
 #782

I would consider it money now. As more and more people use it, it will be the currency. It's more than an option.
see Bitcoin is a concept against the Bank system, of course, according to the term as cryptocurrency, Bitcoin is the currency,
but not the currency intended by the Bank or the current government.
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May 25, 2018, 07:49:18 AM
 #783

I think bitcoin is currency. Bitcoin is new monetary system that no one authorities can control it. We know that our monetary system right now controlled by central bank and that bring more inflation on our economy system. Bitcoin can be as currency and as investment in a same time and i think bitcoin is a economy system

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May 25, 2018, 09:48:38 AM
 #784

Some of us see bitcoin as an digital money because it receive by the shop or seller, but anyway money or currency it just from the my point of view

kamotharnn
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May 25, 2018, 10:23:19 AM
 #785


Both. Bitcoin connects money, currency and remittance and is going to be the future of money in the world.
I agree with you, bitcoin can be both money an currency depending on how people treat it. HOwever, since the price bitcoin is too high, people tend to look at bitcoin as a investment. They want to buy and hold bitcoin instead of spending it like money.

Welhell
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May 25, 2018, 10:47:47 AM
 #786

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---


cur·ren·cy read as ˈkərənsē (noun)


-a system of money in general use in a particular country.

So, is bitcoin money or currency?

For now Bitcoin may be investment, so we don't use it for buying anything in real life like a money. We can use it only internet world. But, we can naming it currency.
realcrypto
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May 25, 2018, 03:05:29 PM
 #787

Bitcoin is a digital currency because currency is a measure of value, medium of exchange except the third characteristic of being a store of value which money also is.

NevejElad
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May 25, 2018, 03:56:16 PM
 #788

Bitcoin is a currency and can be compared to money because ,like money it has value and it is currency because it had been used in the digital world and circulating as payments to establishments that accepted bitcoin.
cryptojaani
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May 25, 2018, 04:01:21 PM
 #789

Bitcoin is a currency and can be compared to money because ,like money it has value and it is currency because it had been used in the digital world and circulating as payments to establishments that accepted bitcoin.
Yeah As long as you can spend it and you can exchange it to the other items then it is a currency and that is what you really required in order to call it as a money. Currency and money is just the same because they use them to buy things or services and in terms of bitcoin, you can use it but not everywhere because there are only limited places who accept it but in the future, it will be wide spread for sure.
markleal
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May 25, 2018, 04:13:40 PM
 #790

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---


cur·ren·cy read as ˈkərənsē (noun)


-a system of money in general use in a particular country.

So, is bitcoin money or currency?

Hi there magic ice! Everyone thinks the bitcoin is money. Some think it is a currency. But the real truth is bitcoin can both money and currency. As long we use the bitcoin as a form of payment it could be money. As long we hold and keep the bitcoin in our wallet. It can be a currency because the bitcoin has a value anytime the value change. Similar to gold but the different is gold can’t use paying the bills we need to convert it. Gold is currency for your information
Mkpez
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May 25, 2018, 04:25:04 PM
 #791

I think since it is used for payment of goods and services, then it's a currency.
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May 26, 2018, 03:34:24 AM
 #792

Some of us see bitcoin as an digital money because it receive by the shop or seller, but anyway money or currency it just from the my point of view
For me bitcoin now is a money but there is no doubt that bitcoin can be the currency of this world in the future and we all know that bitcoin is getting more stronger and a lot of people all over the world is keep on supporting bitcoin so there is no doubt bitcoin can able to be the currency of this world.

andriw
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May 26, 2018, 05:53:37 AM
 #793

bitcoin is a currency, because in bitcoin there is a digital money and a system that governs the transaction path (blockchain)

hastang
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May 26, 2018, 07:03:50 AM
 #794

a currency is represented by money to use to exhange goods and services. so i think BTC is purely a currency represented with numbers in digital world... it is also use to exchange some goods.
Allura74
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May 26, 2018, 07:05:57 AM
 #795

Some of us see bitcoin as an digital money because it receive by the shop or seller, but anyway money or currency it just from the my point of view
For me bitcoin now is a money but there is no doubt that bitcoin can be the currency of this world in the future and we all know that bitcoin is getting more stronger and a lot of people all over the world is keep on supporting bitcoin so there is no doubt bitcoin can able to be the currency of this world.
Certainly I agree that bitcoin is a money and that is the reason for the millions of people around the world that are aiming to earn or buy bitcoin, but being a currency maybe bitcoin is not yet totally a true currency and that is why we call it a virtual currency an almost true currency that have a digital value that convertible to any real currency in the world.

Tramle091296
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May 26, 2018, 07:18:21 AM
 #796

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---


cur·ren·cy read as ˈkərənsē (noun)


-a system of money in general use in a particular country.

So, is bitcoin money or currency?
actually you can say bitcoin is both cryptoo and money as long its uses to a payment system they can be called miney and cryptocurreny.

Bitcoin is new in terms in currecies that existing until now. Its a currency that no physical appearance. But it is both money and currency.  Its a little bit for some people to understand it.

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May 26, 2018, 07:57:47 AM
 #797

I think bitcoin is more suitable to say as money, it can be seen that all the functions of money can be done with bitcoin, with bitcoin we can transact and this is the same with the function of money.


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Scavagers
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May 26, 2018, 08:12:24 AM
 #798

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---


cur·ren·cy read as ˈkərənsē (noun)


-a system of money in general use in a particular country.

So, is bitcoin money or currency?
It is defined as a digital cryptocurrency which means it lies on the same as a currency. It is considered a currency but no country represented because it only exist in the digital world. Although it acts as a currency, it is used as a medium of exchange just like how money is used. I personally think currency and money is almost the same, the only difference is that money has a tangible aspect.
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May 26, 2018, 08:34:06 AM
 #799

Not both. Bitcoin will not be able to have a physical form because it will require more storage to store it (21 million bitcoin and fractional satoshi). Not also a currency because bitcoin does not qualify as currency. Bitcoin is just an asset and a commodity.

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