Is Bitcoin money?

[Vaculin]

yes bitcoin is a online money.There are may online shop accept bitcoin for payment.There are many bank  accept bitcoin.Bitcoin is money for me.it is very useful and easy to use.

Right.Bitcoin is a payment system.But i should say that bitcoin brings so much money to everyone.It may be an online money but you can also withraw it especially when the exchange rate becomes high.In this way,bitcoin becomes more profitable than any other online jobs.

[3kpk3]

Bitcoin is obviously a digital currency which can be exchanged into physical fiat currencies. Bitcoin can be utilized for making day to day online transactions on many websites and offline transactions at certain stores. There are bitcoin atms in certain countries around the world which will keep increasing in number over time. All of this clearly implies that bitcoin is indeed money in a digital form.

[karasuri]

we can buy and sell goods and services by this so yes it is money. that have not paper analog but it still money in different kind of way

[tabas]

If you ask me, bitcoin is just an asset in today's world but it can be money in the coming future when everything would be paperless and all of us will be having RFID chips fitted in us for identification and spying on us.

No it's still used as currency but it's going to happen that we are about to go with a paperless economy. And this is just the start of it with bitcoin, I have read that news about the RFID chips. Every transactions that we will be going through we will just swipe those RFID's or it's on the part of our right hand and we are paid with it.

[jesssh27]

I think it is more of a good than that of a money. A good that increases or decreases its value. But if you cash out the bitcoin I think it can be called as money.

[Bunsomjelican]

Yes, bitcoin is money. Once it can convert into a real cash, it means money. This was happened to me a couple of months up to now, bitcoin gave me also now savings, through saving bitcoin in my storage wallet for believing by next year it will be 10,000$ each BTC.

[Razick]

A broad definition of money would be something that has value that can be used in exchange for something else. Bitcoin easily fits into this category, and has ever since the first transaction for a pizza for 10,000 BTC over half a decade ago now. Bitcoin is definitely money.

If you don't think it is or disagree for whatever reason, I just don't know what to tell you.

[Darker45]

A broad definition of money would be something that has value that can be used in exchange for something else. Bitcoin easily fits into this category, and has ever since the first transaction for a pizza for 10,000 BTC over half a decade ago now. Bitcoin is definitely money.

There is no doubt that Bitcoin is money. It is an online version of money, a digital one. If it can buy a pizza then it is money. There is no more trade barter right?  Strictly speaking, in technical terms, it is called cryptocurrency. But the root word is still currency. And a currency's role is as an instrument to purchase something or pay some services.

[Botnake]

A broad definition of money would be something that has value that can be used in exchange for something else. Bitcoin easily fits into this category, and has ever since the first transaction for a pizza for 10,000 BTC over half a decade ago now. Bitcoin is definitely money.

There is no doubt that Bitcoin is money. It is an online version of money, a digital one. If it can buy a pizza then it is money. There is no more trade barter right?  Strictly speaking, in technical terms, it is called cryptocurrency. But the root word is still currency. And a currency's role is as an instrument to purchase something or pay some services.

Maybe more precious than the money people all know, with bitcoin the value will rise and it has a limited supply so
once you hold this you are one of the lucky people in this world who has a great investment in their wallet.
Let's spread the good news so we can see a massive adoption in the future to come.

[Kaller]

Certainly. Why wouldn't it be considered as money? It has value and is used to exchange for other goods and services, just like paper money, only it is digital!

[Kasabus]

Certainly. Why wouldn't it be considered as money? It has value and is used to exchange for other goods and services, just like paper money, only it is digital!

People have different understanding but what is right is the government definition because they create money.
Even if it's not on the definition but by looking on what we are holding we can already consider it as money,  bitcoin is money for me.

[Choyor]

Bitcoin is a digital currency that is not tied to a bank or government and allows its users to shop without revealing their identity. These coins are created by users who "mine" their currency by lending computing power to verify other user transactions. They accept bitcoin in return. These coins can also be bought and sold by exchanging local currency.

[mudasarali43]

yes of-course Bitcoin is money, Not only money it is a great valuable money that create a great market capitalization and huge market of bitcoin. Bitcoin is also a money that is not touchable but great valuable, there are so many companies are accepting bitcoin widely and banks also start to accept bitcoin as a currency, So bitcoin is a money.

[Shutup]

Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class".  This makes it important to understand what Bitcoin actually is before we try to describe it to others.

We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.

My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]

Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]

Webster's Online Dictionary defines money as:

• 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
• 2. Wealth reckoned in terms of money; "all his money is in real estate".
• 3. The official currency issued by a government or national bank; "he changed his money into francs".
• 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
• 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
• 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.

[links omitted]
[/list]

I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.

But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?

Yes I love bitcoin because bitcoin gives life to me.I will not regret of having bitcoin wether I encounmtner a bad manager that he did not include me on the list.I know people are not the same.I can encounter also a good and responsible for his work.That can help me grow in bitcointalk so that  I will reach my goal towards the aim of bitcoin for the prosperity of bitcoin user.

[jossiel]

Bitcoin is a virtual currency. i think, when it is accepted more widely as payment for goods and services. then,we should call bitcoin  as money.

Therefore since it is a virtual currency, bitcoin is money.

And it is not just a money, there's a lot of use for bitcoin. Trading , investment, asset or name it that I didn't mentioned.

But perhaps this is the main reason why bitcoin can not be defined according to the original concept of money. Money can only be used to acquire goods or services through a currency to which the community assigns a value equivalent to that of the good. But bitcoin is much more than that, and even its possibilities are widened more when we understand bitcoin as a byproduct of the blockchain, a situation that adds more complexity to the definition of bitcoin in financial terms. Perhaps it is something so novel in the history of humanity that there is not yet a suitable term that defines it perfectly ... well, maybe there is only one word that can define this: Bitcoin.

We can still define bitcoin according to the original concept and definition of money.

With your meaning that money can be used for buying goods and services, what do you think about bitcoin?

We can't only use it for buying goods, yes physical goods and even digital goods and services.

It serves also as an investment.

[Eclipse26]

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Yes eventhough it is in the virtual world we can still accept is as a money because bitcoin gives you the power to buy things that you want in your life and by bitcoin you can used it as payment for that thing. sometimes tou just only need to convert it first into fiat so that when someone ask you about it you can proudly say that bitcoin is a money because without it you wont have that money in your hand or in your wallet.

[winterland]

Bitcoin is better than money. Its a way for us to take control of our money without any government or third party involvement.

Yes you are right. This is something superior to money. For many people it is the reason they can earn money. And I am one of them. Bitcoin is not just a money it is better than that. Money cannot be controlled easily but through bitcoin we can have control over our money. So the thing that keeps safe is always better than that to be kept safe.

I would not say that bitcoin is superior to money I will say that bitcoin is the perfect form of money and with the new improvements that has been done on bitcoin then I think bitcoin has improved even further which is incredible.

[appleffi]

I believe bitcoin is convertible to what we usually accepts as money, in our country, I assume bitcoin cannot be directly use to buy goods or services, it needs to be instored in a onlinewallet and convert it to banks to yield the so called acceptable money. But I heard proposals that can directly use bitcoin so I guess sooner or later this can fully be the money we can use on our daily basis.

[Bitcoininvestment]

Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class".  This makes it important to understand what Bitcoin actually is before we try to describe it to others.

We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.

My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]

Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]

Webster's Online Dictionary defines money as:

• 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
• 2. Wealth reckoned in terms of money; "all his money is in real estate".
• 3. The official currency issued by a government or national bank; "he changed his money into francs".
• 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
• 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
• 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.

[links omitted]
[/list]

I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.

But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?

Obviously bitcoin is a new kind of money and it is the latest technology where you can send monkey n all over the globe with just a second but as it become popular in the globe the bitcoin transacrion become slower and takes hours and even days before the transaction become complete but still it is a currency and money in the future.

[TheGodFather]

I believe bitcoin is convertible to what we usually accepts as money, in our country, I assume bitcoin cannot be directly use to buy goods or services, it needs to be instored in a onlinewallet and convert it to banks to yield the so called acceptable money. But I heard proposals that can directly use bitcoin so I guess sooner or later this can fully be the money we can use on our daily basis.

yes bitcoin is money we can get money when we  converted our bitcoins in our wallet to the currency that we like. it gives oppurtunities in many people and it gives work to those people that havent . it is now the source of income in many people so that bitcoin is money theres no doubt it is a money indeed.