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Author Topic: Is Bitcoin money?  (Read 108213 times)
NoNetwork
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August 20, 2017, 12:38:12 PM
 #1241

What can money do and what bitcoin can not do? I think bitcoin is now more as a transaction tool, many people have also used it. So yes bitcoin is like money to me.
I think they have the same aspect when it comes to its usage, as long as currency is involved I think its pretty much the same. But when it means in the transaction like in online I'm pretty much Bitcoin would have to still be converted to Fiat to be transacted.

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August 20, 2017, 12:43:57 PM
 #1242

What can money do and what bitcoin can not do? I think bitcoin is now more as a transaction tool, many people have also used it. So yes bitcoin is like money to me.
I think they have the same aspect when it comes to its usage, as long as currency is involved I think its pretty much the same. But when it means in the transaction like in online I'm pretty much Bitcoin would have to still be converted to Fiat to be transacted.
yes i agree bitcoin and money is almost the same.the difference.is that bitcoin is not acceptable in the market .we need to convert ot to cash first before we van consume it.unlike money .becuase money is ready to consume.

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August 20, 2017, 12:48:52 PM
 #1243

What can money do and what bitcoin can not do? I think bitcoin is now more as a transaction tool, many people have also used it. So yes bitcoin is like money to me.
Bitcoin is money in form of digital, bitcoin can do what fiat can do, but fiat can't do some of what bitcoin can do. Not all of fiat transactions can be recorded but all transactions using Bitcoin is recorded. So Bitcoin is money in form of digital which better than fiat.

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August 20, 2017, 03:35:24 PM
 #1244

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Yes. Actually it is different from real money because it can only access with the help of internet. And through it you can buy things online without hassle.

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August 20, 2017, 03:41:24 PM
 #1245

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.

When there was no cash, gold or silver was the most common trading methods at the time. However, at present, gold is a commodity that is purchased for decoration, beauty or hoarding.





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August 20, 2017, 03:54:12 PM
 #1246

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.

When there was no cash, gold or silver was the most common trading methods at the time. However, at present, gold is a commodity that is purchased for decoration, beauty or hoarding.

Somehow for me gold was asset. We could still see some changes on the value of gold this days. even bracelets and necklace made out of gold are getting a high value when time past by.

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August 20, 2017, 03:56:43 PM
 #1247

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.

When there was no cash, gold or silver was the most common trading methods at the time. However, at present, gold is a commodity that is purchased for decoration, beauty or hoarding.

Somehow for me gold was asset. We could still see some changes on the value of gold this days. even bracelets and necklace made out of gold are getting a high value when time past by.
For me Bitcoin is an asset and at the same time "money" and investment. All in one indeed but well this is just my own view knowing bitcoin do have these capabilities and potential why its being treated on this way.
Price do really changes just like on other valuable items here on physical world and this is the beauty of bitcoin and this is why im amazed and decided to engage with it.

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August 20, 2017, 04:38:04 PM
 #1248

Yes it is.
Now you can use bitcoin instead of paper money. there are so many sites which accept bitcoin and sell products.
Sooner bitcoin will be used as a globel currency for sure.

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August 21, 2017, 07:35:15 AM
 #1249

Bitcoin is a real money. If we thank about money its something just use to pay someone. You can hold money u will not get any benefit but bitcoin is something which can change your future by holding.Bitcoin has proved already what his value is! so bitcoin is real money....

Bitcoin can do what money can do for you. You can purchase things online, you can transfer (exchange) the bitcoins to your bank account. So the main difference is the definition that we use for the term “Money” or “Commodity” like gold. All the other things that you can done with the help of paper money or gold can also be achieved with the help of bitcoin.
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August 21, 2017, 07:54:21 AM
 #1250

In my point of view Bitcoin is can be consider as money already, base on my experience now all my expenses honestly speaking was came all into bitcoin, even my savings, and I also used as mode of payments in terms of my billings every month. And we had also here several merchants who accepted bitcoin as payment whether restaurant, coffee shop, convenient store outlet, and travel tour online and shopping online too. Smiley

I strongly agree with your point though it is not the one you can hold physically it still can be considered as money since it can now be used to deal with payments. Maybe it is time to update the meaning of money which includes bitcoins as one.

You can buy things with the help of paper money, you can transfer it and you pay your bills. Same way you can buy things with the help of bitcoin, you can transfer it and you can pay your bills. On the other hand gold which we call commodity, with the help of it we made our investment which people thought was very secure but today bitcoin is the most secure and profitable investment. So bitcoin is the future for money and gold both.
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August 21, 2017, 08:34:47 AM
 #1251

In my point of view Bitcoin is can be consider as money already, base on my experience now all my expenses honestly speaking was came all into bitcoin, even my savings, and I also used as mode of payments in terms of my billings every month. And we had also here several merchants who accepted bitcoin as payment whether restaurant, coffee shop, convenient store outlet, and travel tour online and shopping online too. Smiley

I strongly agree with your point though it is not the one you can hold physically it still can be considered as money since it can now be used to deal with payments. Maybe it is time to update the meaning of money which includes bitcoins as one.

You can buy things with the help of paper money, you can transfer it and you pay your bills. Same way you can buy things with the help of bitcoin, you can transfer it and you can pay your bills. On the other hand gold which we call commodity, with the help of it we made our investment which people thought was very secure but today bitcoin is the most secure and profitable investment. So bitcoin is the future for money and gold both.
You have a great explanation and I believe in the near future that would certainly happen.
The moment people who are active in spending their money know about bitcoin, I am sure they are gonna appreciate the system and eventually adopt from it, actually if only in my country bitcoin is widely accepted them I would sure prefer to just leave my cash in my house and use my phone to transact.

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August 21, 2017, 08:42:13 AM
 #1252

Yes, I would say that bitcoin can easily be classified as money. Wow this thread was posted a long time ago, and with that time change has also come.

Bitcoin has certainly changed a lot during this 7 year interval. Bitcoin has basically become a currency by this time and it is easily usable online. Many few major retailers online now accept bitcoin, however the majority don't, which is soon to change.

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August 21, 2017, 08:47:31 AM
 #1253

Yes in my knowledge bitcoin can be said as money, but money or currency it's digital and can be transacted like as well as real money. Bitcoin can be spend after we cash out it.

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August 21, 2017, 08:51:22 AM
 #1254

Certainly, Bitcoin is more important than money as well. It is where you find profit. The value of money is fixed, while the value of a constantly changing bitcoin can make you a millionaire. Wink Wink
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August 21, 2017, 09:02:08 AM
 #1255

Well it was born to be money! So, it's gonna be money for sure.!

Yeah bitcoin is money, because you can pill bills through bitcoin, you can load your sim, you can cash out money in remittance, of course bitcoin is money. Money in technology that can be a real money in real life.
Certainly, BTC is money just in a digital form. Its form should not be a concern as far as it serves the purpose right. Bitcoins can be used for trading, gambling, gaming, buying etc like fiat.

It is also a digital gold which can be sell out and converted into fiat. Do not get the wrong idea here that it is like gold. Gold is not used to buy routine stuff however companies like Uber and Microsoft accepts payment in BTC from their customers.


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August 21, 2017, 09:08:22 AM
 #1256

Bitcoin is money. But not the typical money that we know. It is an online money used to buy stuff on a peer-to-peer basis. This will be the future of commerce, digital transactions.
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August 21, 2017, 09:09:08 AM
 #1257

Now bitcoin becomes more than the money. It has all the features of money i.e you can trade, exchange and buy with it, beside it has an extraordinary features of an asset as well, that is its value increases rapidly day by day.

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August 22, 2017, 05:01:31 AM
 #1258

Knowing you can buy almost anything with it sure its money, the fact isn’t printed as fiat currencies made some people to doesn’t consider it as currencie. For me this weren’t a question about being money and yes where and how to use in the daily needs, as we do with fiat.
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August 22, 2017, 05:08:55 AM
 #1259

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Actually, bitcoin is a digital money that you may use in different kind of transaction like paying bills and many more. In addition to that, mamy people believe that bitcoin is our future money and I think it will become our world currency. Lastly, I think bitcoin will consider as a real money in the future.


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August 22, 2017, 05:11:25 AM
 #1260

bitcoin is a digital money currency.so yes it is a money that has very high valued in the world.

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