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Author Topic: Is Bitcoin money?  (Read 100984 times)
Michael_Gims
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September 11, 2017, 09:36:51 PM

It is the money of internet.

Regulators may consider Bitcoin is just an asset, a commodity or a securities, but all theses can be used as money, so there's a very little difference.
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September 11, 2017, 10:01:49 PM

It is the money of internet.

Regulators may consider Bitcoin is just an asset, a commodity or a securities, but all theses can be used as money, so there's a very little difference.

By means of transaction, no doubt that bitcoin is already a money for us who uses and enjoys it. We can't consider a thing if it doesn't have a value or price but because bitcoin does have high value and price, it is very considerable that bitcoin is money. And not just  a money for us but also it's an investment.

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September 11, 2017, 11:36:06 PM

Yes, it is. I already tested. I charged my cellphone with bitcoins, and everything ran well. Cheesy

I think the main threat in considering bitcoin real money is its comparison with easy money or money that is used for smuggling. But in the end bitcoin always has an associated value. And it is also determined by demand and supply.

Regards.
You can do a lot more than that with bitcoin, you can pay your bills and the last time I read, it seems there was the possibility of paying your taxes in some places with it, so bitcoin is slowly making its way into the economic system.

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September 14, 2017, 02:46:45 AM

Court records are public access and you should have tried there first. Florida court declared that Bitcoin is a commodity and that was almost two years ago. It is all over the place and not hard to find. This is the key to making money, research and the ability to find information without help.  Bitcoin can be seen as money or a tool to make money.

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September 14, 2017, 04:08:19 AM

Everybody know that Bitcoin is Digital currency / online currency and it has no any visual figure. bitcoin and money is not some. I think that bitcoins are not money but  money and currency are not quite the same thing just verified network. it is not control bank or government. Bitcoin is something radically new and bitcoin has many more nice features and more advantages and can be traded more easily.

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September 14, 2017, 04:11:02 AM

i think Bitcoin is not money, but Bitcoin is a new way to earn money, like we plant rice and then we sell to earn money, gold mining then we sell to earn money, and that's how we are today, looking for bitcoin and then sold for money , i think so
Agree with that not a money but way to earn money that many if us using and doing it have it let just say too a new easy way to earn a lot of money bitcoin can hold too and if you hold totally safe if you invest more profit will come and then we can convert to real money that we can buy now what we already need

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Ziskinberg
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September 14, 2017, 04:15:27 AM

Court records are public access and you should have tried there first. Florida court declared that Bitcoin is a commodity and that was almost two years ago. It is all over the place and not hard to find. This is the key to making money, research and the ability to find information without help.  Bitcoin can be seen as money or a tool to make money.
Also, if you are investing in bitcoin you have to be updated and knowledgeable as the price fluctuates based on the news the comes out.
With an active traders, people will speculate and that will cause a price pump and dump, definitely for me it's money and that is just my own definition, I am holding this because anytime I wish to sell I can do it and that is the essential characteristics of money.

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September 14, 2017, 04:16:01 AM

that's why bitcoin is still not legal in some countries because there is no law governing bitcoin yet. but in japan bitcoin is accepted as a payment method and in finland is recognized as a commodity
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September 14, 2017, 04:18:06 AM

Bitcoin is money only as long as people are willing to accept it in trade.

Example:  I went to a country with its own currency but only had dollars on me.  I wanted to buy a beer but didn't have (yet) any local currency.  The bar manager knew the exchange rate of dollars to the local currency and let me buy beer there.  Even more recently I had a few dollars on me and was allowed to purchase goods at a convenience store when I ran out of local currency during a holiday weekend since the owner also knew the exchange rate.  Ironically this convenience store owner not only has never heard of Bitcoin but has no way to accept it as he is set up now.

Is Bitcoin money?  99% of the time....no.

Is it a store of wealth...possibly safer than a bank?  That's really the only use I see it for in the next 2-3 years.  Financial crashes and bank runs are basically the only reason I'm even interested in BTC.  Making a profit from it is secondary to wealth preservation.
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September 14, 2017, 04:22:00 AM

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.

+1 agreed.  It's a commodity, a digital store of value.


+2

Bitcoin founder say bitcoin as digital money, but maybe its still need more time to decide the real and stable value of this currency for using as commercial payment method. People need stability.

In my prediction, cryptocurrencies including bitcoin will threated as Commodity in next 1 or 2 Decade/s

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September 14, 2017, 04:51:43 AM

Yes, I think Bitcoin is money but online money.

You are absolutely right, Bitcoin is money but the different is, It is online money. But the reason is some people not accept that bitcoin is money and they have different thinking about bitcoin. But whenever they like to use bitcoin then they use bitcoin as a money. In this time, i ask them, if you use bitcoin for a money then why not you accept bitcoin is a money?  It money name is crypto bitcoin.

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September 14, 2017, 09:33:35 AM

Yes, I think Bitcoin is money but online money.

You are absolutely right, Bitcoin is money but the different is, It is online money. But the reason is some people not accept that bitcoin is money and they have different thinking about bitcoin. But whenever they like to use bitcoin then they use bitcoin as a money. In this time, i ask them, if you use bitcoin for a money then why not you accept bitcoin is a money?  It money name is crypto bitcoin.
One of the reason why they are not accepting bitcoin because it is not stable and it is very volatile so they are not comfortable with that and they are almost all hesitant in investing in bitcoin so they will accept bitcoin if they will see some stability in bitcoin so they can have a comfortable investment.

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September 14, 2017, 09:38:54 AM

Yes, I think Bitcoin is money but online money.
yes, Bitcoin is money but Bitcoin can only be found on the Internet because Bitcoin is the internet currency.

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September 14, 2017, 09:44:45 AM

- My take on it is a bit different. I will count it as a commodity which can easily liquefiable.

- It's a commodity but a lot different and above it's league.

- It promotes barter system; means you can exchange another commodities with it. You can exchange other services, goods, alt coins, etc.

- Advance system are already in the market which allows you to encash this in real time with fiat. Bitcoin Debit Cards, etc.

- If we treat it as a currency, then there are many corners yet to be fulfilled and it will create serious enemies in fiat.

- If we term it as a commodity, fiat will be friends more rather than enemy.

My 2 cents...


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September 14, 2017, 10:22:50 AM

Id say it's a cyberworld jewelry. Just like how people mine in the real world to  get golds; except this one is online.
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September 14, 2017, 11:19:24 AM

There is a single ability that can make or break a trader and it is the ability to do things on your own, research on your own, pick coins on your own and if you cannot do this,n then just give up for the moment. Whatever you think that bitcoin is money or not, the important thing is that you have to know on how to earn the bitcoins.

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September 14, 2017, 11:37:43 AM

For me bitcoin is money . Because you can sell bitcoin and that's is equal to money or you can buy something using bitcoin. Smiley

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September 14, 2017, 11:47:40 AM

To me,  bitcoin is an internet money,  which as time goes on it will be used as money to purchase things through the internet. I and  as well all people who knows about bitcoin, knows it to be a crypto currency which is accepted by people who knows about it.

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September 14, 2017, 12:18:36 PM

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
yes it is, but bitcoin is also a medium of exchange and can also be promoted in the market by online.
bitcoin also resembles gold and money that can be used as a medium of exchange.

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September 14, 2017, 12:21:36 PM

Money is something only decided by human. Bitcoin certainly another form of money. If it is not, i could possibly use it to pay for my hosting or other stuff.


Just glad i participate in a 7-years old thread.

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