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Author Topic: Is Bitcoin money?  (Read 100559 times)
cotton ball
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September 20, 2017, 03:52:32 AM

Bitcoin is the most successful virtual currency in history, unfortunately the majority of countries do not want to acknowledge legally because of its unstable nature, I have confidence that decentralization will continue to bring price volatility, especially in the crypto market.

Supposedly many Japanese crypto experts are involved and explain their regulatory system in this forum because they consider the bitcoin legal and equivalent to the yen, but it still seems not transparent globally.

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September 20, 2017, 04:01:59 AM

Of course Bitcoin is money,it is the cyber gold, it represents the value, that's why we all hold onto it.
Yeah I totally agree with you, Bitcoin is a "GOLD" in the future, this is will be
a assets for us, also I think Bitcoin can will be a great money to buy some products in Internet.

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September 20, 2017, 04:09:52 AM

even better than money, we all know that money has many weaknesses, bitcoin looks perfect so I'm sure bitcoin is better than money.
really Bitcoin is better than money, how to get even better Bitcoin than money. money must work real, Bitcoin works online.
Agree, we can just convert the bitcoin into fiat to use it anywhere we wanted. Bitcoin just can be use online unlike money that we can use anywhere we wanted. I like how bitcoin works and maybe I still wanted bitcoin even if it is still the same in the future. We can still buy online using bitcoin but we cannot use bitcoin personally to stores. But for me it is still good as it is.



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September 20, 2017, 04:14:52 AM

It is not money. It's digital currency. And it's also a artificial money as we usually call.
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September 20, 2017, 04:40:28 AM

Clearly, bitcoin is money, money is a valuable means of exchange, whereas bitcoin also has value, in fact I think it is currently highest among other currencies in any country, but bitcoin is a digital currency that has no shape and form.

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September 20, 2017, 06:31:55 AM

Yes,bitcoin was early used as a currency when its price was very low.People used bitcoins to buy products and to pay for services.At that time,they were unaware of bitcoin's potential.But now,since its price has increased very high,people now started to treat it as a valuable return giving investment and they just don't want to spend it to buy any products which could be bought just with the fiat money.

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September 20, 2017, 06:51:55 AM

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.

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September 20, 2017, 04:49:48 PM

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

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Flomo
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September 20, 2017, 06:02:18 PM

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.

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September 20, 2017, 06:15:04 PM

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

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September 20, 2017, 06:26:09 PM

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 Grin

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September 20, 2017, 06:28:00 PM

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
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September 20, 2017, 10:29:29 PM

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.

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September 20, 2017, 11:17:35 PM

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.

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September 20, 2017, 11:24:27 PM

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

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September 20, 2017, 11:49:21 PM

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.
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September 20, 2017, 11:56:05 PM

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.

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naira
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September 21, 2017, 12:00:57 AM

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



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MiF
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September 21, 2017, 12:11:22 AM

    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.

    FJNuez
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    September 21, 2017, 03:38:15 AM

    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.

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