Is Bitcoin Money or Currency

[marinomario]

In my opinion, Bitcoin is produced through data encryption and certain algorithms. By using a peer-to-peer system and the absence of a single administration, its value will not be managed by the authorities or the government, and does not cause inflation if Bitcoin production increases.

unlike money or currency issued digitally by financial institutions and secure authorities.

and Bitcoin is not regulated by any agency, in contrast to money or currency regulated by agencies and governments

[CherRic]

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
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cur·ren·cy read as ˈkərənsē (noun)

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

So, is bitcoin money or currency?

Bitcoin is both a currency and money. Originally, Bitcoin is created as a currency that could be use as payment in virtual world. If Bitcoin is used as a payment method, then we can say it is a currency. It becomes money when you actually encash this and use in physical world.

[Ondre]

Money is unreal, meaning imaginary, intangible - a concept.

Currency is NOT money, but merely represents money.

Bitcoin is currency because it is called a crypto currency and at the same time it is money because it has specific value converted to fiat money which can be exchange into tangible one or it is use as a mode of payment in exchange of what you bought online that is why it is also a money.

[11adamsBTC]

I think, by the definition you gave, bitcoins is surely just a mere money

[pleght]

I see bitcoin as currency.I wish the States to see it as currency.If states see them as property, not money, they become big troubles.Because they can put heavy taxes on bitcoin.

[clex_us]

For me bitcoin is the best money like if we use to its nature it is really secure and safe for the bitcoin users and bitcoin era is coming then every one will use this currency the salaries will be paid by organization in the form of bitcoin and crypto.

[preceptus11]

I think its a currency because nowadaya still bitcoins is restricted to some special country only

[Samk]

bitcoin is the form of currency. actually its a digital form of currency which can reduce the overseas transaction time without the involvement of third party. and gives user a full anonymity.

[hushwind]

As per me its better as currency. Because the one who embraced the currency is already ruined let not the others be ruined too

[yamete kudasai]

Are cryptocurrencies and money different from ont another? All I know is that money is a term which is in general knowing that there are many currencies or fiat in the world. Currency is a term for money which has value. So technically there's no difference at all knowing that money and/or currency are used to buy things in the market .

[thongsbe]

You cannot use bitcoins for everything, therefore it is not your currency.

[Boknoi321]

Are cryptocurrencies and money different from ont another? All I know is that money is a term which is in general knowing that there are many currencies or fiat in the world. Currency is a term for money which has value. So technically there's no difference at all knowing that money and/or currency are used to buy things in the market .

Currencies for now considered as digital currency that uses to buy everything through transaction site in terms of payment its diffirent from fiat money. The combination of money is to buy with the vendors because some of them not knowing about the site.Currency is for the big companies that they accept as a payment.

[JOoo12345]

 Bitcoin for me is currency becausse currency and money are not the same things,but they just have many the same properties. and Bitcoin is a true global currency and it can be used in any part of the world.

[junkievanillae]

I am a newbie so I have a little idea about it. I cant answer sorry

[Saveplus]

I think bitcoin  can be currency because in terms of payment system it will represents.We can touch money but not a currency,they have the same value but they are differ in appearance.

[coinsmanager]

It can only be both. How can something be money without being a currency? As far as I know, currency is something that you use as a medium of exchange, to acquire goods and services. That's the same of money, IMO.

[romeo23]

Bitcoin is a software based currency which have associated value only because people believe that it as money. If tomorrow everybody decided to not consider it as money then its value will be zero. Now a days many major retailers are also accepting bitcoin as way to pay for goods. So in that sense you can say it as money and by definition it will also be a currency which is not issued by any government in the world. But this definition is only true today. Nobody knows how governments around the world will treat it in future. Just hope people will believe on this and no government will ban its use.

[richfinch]

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?

Up 158 percent against the U.S. dollar this year, bitcoin is now the best-performing currency. Many are confused as to how this mathematical protocol can be worth more than $2,600, and why it keeps going up. The short answer: Bitcoin is money, just a little better and cheaper than the alternatives.

If you don’t understand money, you cannot understand bitcoin. For most of us, money is the U.S. dollar, the fiat currency of the United States issued by the Federal Reserve and maintained by the commercial banking system.

But even this system is confusing. Most people don’t hold Federal Reserve notes anymore; they hold money in checking accounts or use their credit cards to buy things. This is electronic fiat money, stored on the servers of banks like JPMorgan Chase and Bank of America.

This type of money is a great medium of exchange. Because the state mandates the acceptance of fiat money by all commercial actors, you can pay everywhere with dollars and, as a bonus, the prices of consumer goods seldom change more than a few percent per year.

Other attributes that make the dollar useful as a medium of exchange are its divisibility, recognizability, and indestructability—at least in electronic form—and the ease with which it can be exchanged.

[Name: Claudio]

Yes and yeas and yes!
Or should I say both?
Yes it is a money since it's a medium of payment, like when you use BTC to buy a 🍕
Yes it is a currency in digital way since more than a country is using it!!

[Souri]

If you do not only take into account legal definitions BTC fulfils all criteria to be a currency, which is acceptance. If we look at it from a more personal position I think currently it is only an asset as the fast and easy applications sadly are still to limited.