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Author Topic: Is Bitcoin money?  (Read 101005 times)
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September 17, 2017, 05:02:31 PM
 #1501

The more time that goes on, the more people will realize Bitcoin truly is money. It is just people who do not understand it who think it isn't money. Sucks to be them. Tongue
Yes it is money if it’s not money that how are going to buy things or how you change in to cash if still no one believe that bitcoin is money so try to buy and then cashed it hope it will be enough to them to understand.

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September 17, 2017, 05:13:29 PM
 #1502

Bitcoin can be considered money because it is a cryptocurrency. Bitcoin is a digital currency that enables you to trade things with maximum privacy it cant be tracked. Bitcoin can be considered money because it has marketvalue, economyvalue and can use to purchase things.

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September 17, 2017, 09:50:24 PM
 #1503

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.
The status of bitcoin varies from country to country so it is not easy to give a definitive answer besides it does not matter the legal definition that bitcoin may have if the reality is different, in Florida bitcoin can be declared a commodity but we know that bitcoin is money, there is no way around that.

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September 18, 2017, 04:38:44 AM
 #1504

It's not exactly a currency, but it's better to say a digital commodity, not a currency, I do not think it's a mission. The important thing is to make our life easier.



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September 18, 2017, 04:48:48 AM
 #1505

Bitcoin is money. It is a medium of exchange and answer to needs. It can be exchange to any world  currency.

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September 18, 2017, 04:53:11 AM
 #1506

Ofcourse Bitcoin is money the different of bitcoin in cash is that bitcoin is digital while cash is paper. They are both important to all of us. Bitcoin can stored in wallet and it will become double to triple after how many months or years while paper money can stored to but it will not become double or triple even how many years unless you will invest it or save it in bank, atleast there is interest.

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September 18, 2017, 05:09:23 AM
 #1507

    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 for me becuase if you earn a lot of btc you can convert it into real money but even if btc in your wallet you can use this as transaction or paying bills or you can use this for many ways.

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    September 18, 2017, 06:54:05 PM
     #1508

    Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. This currency is like Rupiah or Dollar, but it is only available in the digital world. The concept may sound like eGold, although it is actually much different...

    Yes, agree with you , bitcoin is just like the dollar but just in electronic form but still it is a currency therefore it is money which will be converted to fiat so it can be use in public market and real economy to circulate. The only drawback for bitcoin is that not many people know about it and very few physical stores accepts it till now.



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    September 18, 2017, 07:14:30 PM
     #1509

    Bitcoin can be considered money because it is a cryptocurrency. Bitcoin is a digital currency that enables you to trade things with maximum privacy it cant be tracked. Bitcoin can be considered money because it has marketvalue, economyvalue and can use to purchase things.
    Bitcoin can be considered as money because he can be changed to money on crypto exchanger/market. In fact bitcoin is just an online payment method nor cryptocurrency. One more thing, the money value is permanent but bitcoin value is always changing every times.

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    September 18, 2017, 08:31:54 PM
     #1510

    bitcoin is a virtual money that can help you to buy many things online or you can even have cush if you convert the bitcoin to dollars and with a master card you can make it cush and use it for real life

    I agree with you buddy it is a virtual money ,we can use it as medium of exchange or payment like other fiat money like Dollar or Euro.

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    September 18, 2017, 08:44:05 PM
     #1511

      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?








      I like the article its really well written.. Looks like someone copied it  http://bbs.norn.ai/thread/is-bitcoin-money/

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      September 18, 2017, 09:01:54 PM
       #1512

      Bitcoin is much more of an asset then income. It's far better to spread our funds ayovb assets in eny case. It doesn't matter what it is as lengthy as it is really worth somethingaand has values then perhaps if you make very good alternatives you can even earnings over it.
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      September 19, 2017, 11:44:25 PM
       #1513

      It's not exactly a currency, but it's better to say a digital commodity, not a currency, I do not think it's a mission. The important thing is to make our life easier.
      Bitcoin is conventionally acceptable and we have seen in our life that people paying bitcoin being a currency to someone and have trade in bitcoin so how can we reject bitcoin being a currency. Japan has declared bitcoin a legal currency in his country and many other countries are near to take an action like Japan so how can we reject bitcoin being a currency. In future only bitcoin would be a currency.



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      September 20, 2017, 01:23:12 AM
       #1514

      bitcoin is a literal currency,
      so you can collect it and you can also buy anything using bitcoin

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      blocklancer8
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      September 20, 2017, 01:39:54 AM
       #1515

      Yes, Bitcoin is money. But this money exists only in the digital world. Although not legalized in the countries but many people from all walks of life welcome this Bitcoin. Many people who have used it even used as a future asset.

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      Dannaey
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      September 20, 2017, 01:53:08 AM
       #1516

      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.


      I think of it as a commodity, not yet money. Agree with you. Commodity is something that we can be bought and sold. In connection with Bitcoin, it is something that we are buying, then we sell it in exchange of money. Since it is not yet acceptable all over the world as payment, we cannot consider it yet as money. That's my opinion.

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      KouroPotato
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      September 20, 2017, 02:43:48 AM
       #1517

        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 but it is an untouchable money or in short; "online money". Bitcoin is a money that can be generated, invested or even converted into a real money online. Rumors say that the bitcoin would be a future currency someday. Because of the internet, we can make money online through the wise use of bitcoin. Because we are in the 21st century, we can say that our internet is improving and we create a currency that we can exchange into a real money, the bitcoin.

        And that's my reason why bitcoin considered as a money.
        endlasuresh
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        September 20, 2017, 03:41:58 AM
         #1518

        Yes, Bitcoin is money not a paper as we see can exchange for local currency at any time. This is a new type of Digital money where we can use for betting, gambling etc.
        In these days we see lot of online shops accepting Bitcoins to sell their goods.

        dfox101
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        September 20, 2017, 03:43:37 AM
         #1519

        Of course Bitcoin is money,it is the cyber gold, it represents the value, that's why we all hold onto it.
        Chairul Muttaqin
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        September 20, 2017, 03:51:43 AM
         #1520

        Of course Bitcoin is money,it is the cyber gold, it represents the value, that's why we all hold onto it.

        the valuebof of bitcoin came from everyone who buy bitcoin in other word they put their money and change it to bitcoin. they buy some amount of bitcoin and giving trust that their money is equal with amounts of bitcoin they have been bought. Bitcoin made as cryptocurrency that people believe that it is has a value although the value came from themselves by putting their money into bitcoin.

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