Is Bitcoin Money or Currency

[Sithara007]

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?

By definition "a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank."

So one can say Bitcoin can be called a currency for the virtual world but it can not be called Money because in the physical world it has no value.

[meowball]

Bitcoin is a form of money, just like the USD, that can be used to exchange for things like goods and products. The difference is that currencies like the USD is affiliated to a particular state (for USD, it would be the United States), while Bitcoin has no official affiliation to a particular state. Bitcoin is in the family of digital currency or more appropriately crypto-currency that is controlled by cryptography, allowing it to be untouched and unregulated by a particular political or financial entity.

So yes, Bitcoin is a currency which is a form of money.

[Amph]

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?

By definition "a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank."

So one can say Bitcoin can be called a currency for the virtual world but it can not be called Money because in the physical world it has no value.

the value isn't something that is related to physical or not physical, it is something given by us, anything can have value it does not matter what it is

btw bitcoin is digital not virutal, and being "inside a machine" does not make it less real

[jaberwock]

according to your definitions BTC is not money neither currency for obvious reasons.

But I don't think your definitions of currency and money are the best when discussing BTC.

[p.nusia]

It is both
btc has value and that is why they can be considered as money, and also their value is governed by the market. That is why it is currency

[Sithara007]

It is both
btc has value and that is why they can be considered as money, and also their value is governed by the market. That is why it is currency

That's really confusing. We should directly ask the Father of Bitcoin. May be he can help us out.

[philipma1957]

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?

 As of today in the USA it is considered property.  Like a book or a tv or like a windows 7 software cd.

[cbeast]

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?

 As of today in the USA it is considered property.  Like a book or a tv or like a windows 7 software cd.

Yet by USA it is also considered money transmission.

[dulldog]

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?

Well, you can use it both ways, can't you?

[BillyBobZorton]

BTC is actually a new data storage type as well as a currency. Before it's creation you could not have a documents existence verified and timestamped by an entire network of anonymous peers. This ability certainly has value.

[Dotakels]

Bitcoin is a currency and money but in not in particular country. I mean that it is the currency and money of the internet that you pay in your payments through internet.

[BTCevo]

That's really confusing. We should directly ask the Father of Bitcoin. May be he can help us out.

There is no such as Father of Bitcoin, we dont know who is he and what kind of purpose he is making this bitcoin to, we only enjoy the spreading and we can investing in it and wait things in the next few year to be better

[btc-facebook]

Bitcoin is currency since system controlled it

Bitcoin also can be money since it was a medium for exchange.

So bitcoin is currency money

[Erza]

It can be anything you want. A way to store your wealth just like gold, or electronic cash to buy stuff directly with it.
Properties bought with Bitcoin are recognized by the goverment as long as you pay all the taxes and explain where the BTC comes from (I assume).

I admit it that you can buy some nice stuffs with bitcoin but I dont think you can buy properties, because you must settle of things using bitcoins and how are you going to pay the taxes if they didnt even know from where that bitcoin things and then you must esplain all things to them again and make it so complicated. I dont think it will work that way

[tibor]

It's a currency I think like USD, EUR, etc
Money is the value before the currency is written (1, 2, 3.4, etc) in my opinion

[sikaxchange]

well Bitcoin is both but it is mostly a Virtual money

[Towlie]

It can be anything you want. A way to store your wealth just like gold, or electronic cash to buy stuff directly with it.
Properties bought with Bitcoin are recognized by the goverment as long as you pay all the taxes and explain where the BTC comes from (I assume).

I admit it that you can buy some nice stuffs with bitcoin but I dont think you can buy properties, because you must settle of things using bitcoins and how are you going to pay the taxes if they didnt even know from where that bitcoin things and then you must esplain all things to them again and make it so complicated. I dont think it will work that way

If you were going to buy a house with bitcoins you'd most likely just use a payment processor. As long as the person selling their house gets the fiat money in their bank via the processor I can't see why they wouldn't agree or accept this.

[carlosiness]

i believe they should be held as a currency, money is more physical thing...

[philipma1957]

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?

 As of today in the USA it is considered property.  Like a book or a tv or like a windows 7 software cd.

Yet by USA it is also considered money transmission.

yeah we usa citizens  have quite a consistent set of laws for us to follow.(Not!)

  But it figures since ⅓ of the signers of the Declaration of Independence  owned slaves.  And 2 of the 3 authors of it were slave owners.

I try not to bog down with definitions of shit like a BTC's real identity  just too hard to pin it down.

 What can I use it for is all I care about.

[l.Maximiliaan]

i would like to say neither.