Is Bitcoin money?

[natsu_koo]

Bitcoin is a new kind of money because it is stated there that "money is use as a medium of exchange" and since bitcoin is used in some exchanging transaction, we can consider bitcoin also as a money though it is not common in other countries.

[Cacaparg]

I think bitcoin money. Because bitcoin provide one of the main money's target - universal equivalent for exchange between people for goods and services.

[Flomo]

never think that bitcoin is money, or a tool in exchange, because you will lose money when you use it as money, make bitcoin as an investment in the future will give you an advantage.

[Denov Setu]

never think that bitcoin is money, or a tool in exchange, because you will lose money when you use it as money, make bitcoin as an investment in the future will give you an advantage.

Yeah mate I agree with your statement, our success in bitcoin depends on how we see bitcoin, if we see bitcoin as money then as you said we will lose them, but if we look at bitcoin as an investment then we will benefit our future

[Baijit20]

I think bitcoin is virtue money and only exist in the digital world.bit coin has many advantage,quickly,easily,anytime and anywhere you can do transactions.bitcoin already accept as means of payment,it is not same money but you can pay some payment.you can buy something with bitcoin.and most important thinks you can earn with bitcoin.money make money

[Farhan25]

Bitcoin is a money because it can be exchanged...& the value is the highest than any other currency...Though it has no form or shape

[agentx44]

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 also think that bitcoin is money because you can use bitcoin to buy stuffs and to pay bills that's why many people are using bitcoin as a source of income because it is a good way to earn money and use it as a transaction. I believe that one day bitcoin will be the new global currency and it will be used by everyone in the world in the near future.

[primeminer]

Is Bitcoin money? is a digital currency that can only be found on the internet. This digital currency has a fantastic price and is the best digital money until now or even 10 years. you will be very lucky to have Bitcoin because Bitcoin is very profitable if invested in the long-term.

[genos]

Is Bitcoin money? is a digital currency that can only be found on the internet. This digital currency has a fantastic price and is the best digital money until now or even 10 years. you will be very lucky to have Bitcoin because Bitcoin is very profitable if invested in the long-term.

nowadays bitcoin not only found on Internet. bitcoin expanded into real world not only found in Internet, we can use bitcoin in larger range. in some countries there is available bitcoin atm which we can use so bitcoin is not only limited in internet

[Fireblade]

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

yes there is no doubt about it that bitcoin is money, as we can use it in many places just like fiat currency for shopping and so many other purposes. for example in Brazil there are a lot of shops where the shopkeeper are accepting bitcoin, i am sure that very soon we will be able to use bitcoin for shopping in all over the with even from our local shops.

[marcuslong]

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

It is tue you can convert bitcoin inyo fiat whenever you want whenver you are bitcoin bitcoin is Everywhere nowadays lud technology so soon will be implemented with bitcoin that everyone will have interest to use it to buy online and other things.

[naira]

Is Bitcoin money? is a digital currency that can only be found on the internet. This digital currency has a fantastic price and is the best digital money until now or even 10 years. you will be very lucky to have Bitcoin because Bitcoin is very profitable if invested in the long-term.

I also have the same opinion with you, that bitcoin is the digital currency that is on the internet, but bitcoin can be used to buy something in the real world

[MiF]

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?

It is a money because we can buy goods and services all over the world plus it is part of our wealth. If we lost our bitcoin it will just like we lost our wealth so it is clearly it is a money but in just another form.

[FJNuñez]

Money is a ledger that keeps track of debt. FIAT money and gold have problems, Bitcoin doesn't. The more people believe this, the more the price will rise.

[uzumaki]

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?

money is a means of thing  that is used to buy goods or services. And bitcoin can be said money based cryptocurrency-that can be exchanged with various fiat and bitcoin can also as investment . Its difference with ordinary currency is the nature of bitcoin decentraliced ​​and annonimous which bitcoin users are not can be tracked.

[fullhdpixel]

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.

Yes bit coin not only money but asound money as ell as some people call it as internet money which can be used for buying goods like good, stuff,books and other daily utilities like paying bill. Those countries where it is not legalized yet then it is also converted to other currencies.

[TheBobman]

Yes bitcoin is an online currency so it actually is money but you cannot buy with it everywhere because it is not legalized everywhere so bitcoin is money which you can trade for real life money and with that money you can buy everything you want to.

[Ilikechineseefood]

Bitcoin is decentralized which is pretty awesome that we wil not be in the control of the government, it's value is not a subject for inflation where usual money is, so it's an opposite and we like it because it's freedom as well.

[Mrhowie]

For bitcoin to be like cash. There needs to be purchase recipes for proof of buying products online etc. I went to buy something today with bitcoin but other then sending over bitcoin to there address there is no security/refund method in place if my product doesnt turn up or needs to be returned...

Dont get me wrong i mean a recipe for proof of purchase npt a transaction recipe. If that makes sense

[Johansson6]

Bitcoin is decentralized which is pretty awesome that we wil not be in the control of the government, it's value is not a subject for inflation where usual money is, so it's an opposite and we like it because it's freedom as well.

I think that is true but it is not an actual answer to this question bitcoin is a online currency that people want to have and need because of its freedom and the fact that is not controlled by a bank or something but only yourself and that is what people want.