Is it true? Bitcoin Isn't a Currency but a Technology?

[Miracal]

Bitcoin is neither a currency nor technology, it is money, it is like...

Bitcoins beauty is beyond compare
With flaming locks of auburn hair
With ivory skin and eyes of emerald green
Its smile is like a breath of spring

that is some soft shit bro. I don't think there's anything much left to say... So I guess we should leave this dicussion on the note that bitcoin is more than just a currency, more than just a technology and very complete in all the factors which make a currency worthy of being money. Something which had value and used widely, that's what I see bitcoin as.

[Falconer]

I have no idea exactly if bitcoin is a currency or technology. But, imo bitcoin is a combination of money as a currency and gold as an investment tool, which it have made from technology by satoshi or some good guy else, to solve the problems in people's economic life. I think technology is a way to ease people life, so I can say bitcoin is a technology too. Just like that.

[giustone]

In my oppinion bitcoin is a new technology,a digital currency,with posibility to view in real time all transaction in the world.
I think blockchain has a good future.

[MinerHQ]

Yes it is correct. Bitcoin so for no country officially considered as a currency until now it is considered as a some new technology or system.

[zeraTunerse]

Bitcoin is neither a Pure currency Nor a Pure Technology , its CryptoCurrency , a combination of both currency and Technology.
Its is not the Official currency of any country But is circulating in almost every country.
Moreover we can call bitcoin as a monetary system.

[Nizam ibrahim.P.N]

 Since bitcoin is not a centralised system it does not approved by our government.if it is a currency it should be approved by govt. And the society. It is a new technology opened by bitcoin to the world.  

[BTC_ISTANBUL]

It is digital money.It is a technology and it is currency.Currency? Well, does it have a symbol?Yes. Is it widely convertable? Yes.
If you have USD in your pocket, USA (FED) is promissing to give its value.For BTC, each miner helps each user to keep their privacy.The BTC price is volatile due to supply and demand of the market.There is no authority or power to back BTC.

[Andy4.4]

It is a technology as we are the people who valuate the prices of Bitcoin.
If we stop using it then the prices fall and with mass adaption, it's prices rise.
So we are the person due to whom the bitcoin technology have become currency.

[botany]

Bitcoin is neither a Pure currency Nor a Pure Technology , its CryptoCurrency , a combination of both currency and Technology.
Its is not the Official currency of any country But is circulating in almost every country.
Moreover we can call bitcoin as a monetary system.

Yes, a trustless, decentralized monetary system.
No central bank, just the faith of its users.

[devil11]

Bitcoin will become not only currency but a international currency.Since in my think, its not a technology !!

[Erdogan]

Bitcoin is neither a Pure currency Nor a Pure Technology , its CryptoCurrency , a combination of both currency and Technology.
Its is not the Official currency of any country But is circulating in almost every country.
Moreover we can call bitcoin as a monetary system.

Yes, a trustless, decentralized monetary system.
No central bank, just the faith of its users.

Yes, we can even rediscover the forgotten but holy word money. Who needs currency? Money is it that drives civilization. EDIT: With world money, we do not need to distinquish. Currency is related to an area randomly occupied by some mafia.

[katerniko1]

well if you look on it its actually both, becuse its like a money witch you can use to (gamble,buy something,sell,send etc which makes it a currency)
and its all made on pc so its technology too
so its like 50-50
regards.
-Katerniko1

[Shinpako09]

Bitcoin is both currency and technology. You can say it is "techno-currency".



You can buy things with bitcoin, so that makes it a currency.

I agree with this

[MinerHQ]

Bitcoin will become not only currency but a international currency.Since in my think, its not a technology !!

I think you're wrong because in the world no big institutions will approve to become bitcoin as a official currency so it will be a new technology.

[ummina]

okey, so far we have see now, we as an used btc understand if btc is technology,
may be its like a for future us, like digital money, so in future we not use paper money again, but use btc.

[HarHarHar9965]

Bitcoin will become not only currency but a international currency.Since in my think, its not a technology !!

I think you're wrong because in the world no big institutions will approve to become bitcoin as a official currency so it will be a new technology.

a statement stating its acceptance in the future could only be speculated and not declared simply because future is unpredictable and there are n number of situations which could take place, creating a different number of outcomes in terms of different institutions and its adoption rate.

[Kingno.1]

Yes it is true that Bitcoin is not a currency but is a technology.
The people who use a technology makes it valuable.

[boopy265420]

No it is not true.Bitcoin is currency which is technology based and already begins to be recognized as currency by Australian govt.This recognition will be first drop of water and sooner more countries will follow the Australian govt.

[newcripto]

Bitcoin is digital currency.It already has completed the first step to be named as currency.BitLicense is its non-official recognition as currency.In near future it will be used as currency.

[teukon]

Recently I have read a debate if Bitcoin is a currency or technology. It stated there that it is a technology stock and not a currency since the governments have not approved it as a currency. I wanted to know your opinion in this debate. Is bitcoin a currency, or isn't it?

I do not classify Bitcoin as a currency proper, but only as a potential currency.  More precisely, it is a potential money.  Bitcoin acts as a medium of exchange (for the Bitcoin economy) and a store of value (admittedly a relatively poor one).  It does not however function as a unit of account.  Businesses do not use their nominal bitcoin costs and earnings to assess their profitability.  Shops do not price their goods in bitcoin; they price them in local fiat and calculate the a corresponding bitcoin price on the fly.  Very few users mentally measure value in bitcoins but think instead in terms of their local fiat.

Government approval is irrelevant.  "currency" is a word in natural language.  Natural languages are evolving, decentralised system.  Governments do not approve words into existence, language exists independently of coercive hierarchy.

Related thought experiment:  Suppose some/all governments published documents stating that they considered the word "water" to refer to granuals of silicon dioxide and "sand" to refer to liquid H₂O.  Do these official definitions affect the real meanings of the words "water" and "sand"?