Is Bitcoin money?

[Renampun]

I think bitcoin is not money, but it's called gold, because it's almost like gold in the mine, so bitcoin is a new way to earn money

[matuson]

Bitcoin is much more than money. Bitcoin is a new ideology. Everyone can use bitcoins to find something you need. For me, bitcoin is freedom. With his help, I want to be independent from the government and earn enough money to buy all the necessities of life.

[xamil]

for me I can say that there are money in bitcoin, and bitcoin can be part of money, yeah money can buy things, and have a value for you to use in buying goods and bitcoin can do it also, although you can only use it through digital but if you can change it in your local money you can buy more things and it will become money. so I guess I can say that bitcoin is also money.

[KingCanuck5]

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?

Bitcoin carries all properties of money. So in my opinion, yes, it is money.

[BitcoinGirl.Club]

I red an article that shows why we can consider Bitcoin a money. the article montioned some characteristics of bitcoins that make it even better that fiat currencies and they are:
1-Scarce: not widely avalable.
2-Durable: it’s eternal as long as people want to use it and wallets can even be duplicated to prevent file corruption.
3-Portable: Bitcoin is super easy to carry,
4-Divisible: divisible up to eight decimal places and can be extended further.
5-Authenticity verification: This process requires some technical knowledge, but it’s not super complex.
6-Storage: there’s nothing easier to store than something that is digital.
7-Fungible: Like fiat currencies, Bitcoin is considered equal, since 1 BTC is the same as another 1 BTC.
8-Difficult to counterfeit: being an encrypted coin, it’s impossible to counterfeit Bitcoins.
9-Widespread use: there are new members of the Bitcoin universe every day.

This makes bitcoin to be recognized as money in which ever way we look at this and its super difficult to counterfeit thats why many people are interested in this technology

[Barbarian]

I do not think I do not think of bitcoin as money. I think bitcoin is something of great value. Bitcoin is something of great value if it is in exchange for money. Just like gold, gold is something of high value if in money. But bitcoin is not visible a.k.a virtual. I think money is money, bitcoin is bitcoin.

But that is the way things become money, first something is appreciated because of its qualities then after some time people begin to use that as a medium of exchange and after that people realize how easy is to use this asset as money and then it becomes money, that is what happened to gold and what it is going to happen to bitcoin.

[MFahad]

I am totally agree with your point. Bitcoins is a currency not money (although currency and money are same).We can't compare bitcoins with it. Just ignore these nation state. Don't care about them what ever they said about bitcoin. Just concentrate on your work with bitcoins.
One day, when fiat will be less used and bitcoin will be more used, then we all will realize how lucky we are that we collected bitcoin at early stages.

[ricardobs]

I red an article that shows why we can consider Bitcoin a money. the article montioned some characteristics of bitcoins that make it even better that fiat currencies and they are:
1-Scarce: not widely avalable.
2-Durable: it’s eternal as long as people want to use it and wallets can even be duplicated to prevent file corruption.
3-Portable: Bitcoin is super easy to carry,
4-Divisible: divisible up to eight decimal places and can be extended further.
5-Authenticity verification: This process requires some technical knowledge, but it’s not super complex.
6-Storage: there’s nothing easier to store than something that is digital.
7-Fungible: Like fiat currencies, Bitcoin is considered equal, since 1 BTC is the same as another 1 BTC.
8-Difficult to counterfeit: being an encrypted coin, it’s impossible to counterfeit Bitcoins.
9-Widespread use: there are new members of the Bitcoin universe every day.

This makes bitcoin to be recognized as money in which ever way we look at this and its super difficult to counterfeit thats why many people are interested in this technology

Do you know what’s called gold? They were widely used as money in the old days, and do you know what’s cowries? Lol, in the past, they were also used as money, but only in some parts of Africa. It don’t just stop there–silver, diamond and lots of them. So Bitcoin? Yep it’s money.

[Rebisco]

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?

Of course, bitcoin is a digital money. Many experts say that the bitcoin will become our future money. There are now many people who entering in this cryptocurrency world because of the bitcoin.

[magicmeyk]

Yes, a digital money that can exchange into real money and we can also use it for barter.

[streazight]

bitcoin is a money. Because it is an online currency, a digital currency or cryptocurrency. So it is actually a money but you cannot buy or use it just everywhere because it is not legalized in the local area or even in your own country. Bitcoin is a money which you can trade for the real life money and people can only use bitcoin in the local area if he/she will cash out those bitcoin in a bank or remittance center.

I also think the same and it is reality. Bitcoin is a crypto digital currency which is now legalized and regularized by some countries like Japan, Vietnam and South Africa. They realized that bitcoin is the new digital currency of the future and it will overcome all the other currencies of the world in the near future. Bitcoin can be used for buying anything like any other currency all over the world.

[kuckong]

you can call like that because it can to buy some stuff and other, but bitcoin like something too that can be sold and get money for our income

[Bakemat]

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 bitcoin is a money, money is a thing that you can buy everything if you have this bitcoin has the same purpose to made it. But bitcoin is more on the online transaction or marketing they used bitcoin for faster transaction and i think soon bitcoin is recognizable by all people we can used it all and i hope that bitcoin can used in my country like a billing in to hotel, restaurants for keep safe your money to other because bitcoin is easy to hide.

[raven7886]

Bitcoin is money because it a medium of exchange, we can convert it to fiat currency and trade to other altcoins. Yeah it is money because it has value, and we can use it to purchase products and services online that accepts BTC as payment. We can also put it on as investment to gain profits.

There is no doubt that bitcoin is money because people will not invest in something else. They have invested in bitcoin for a better future and to fulfill all their needs and dreams, and all that will be possible just when someone has a lot of money and the future money is bitcoin that’s why the people all over the world are investing in bitcoin to earn more and more money and become rich in the near future.

[Boysen]

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 bitcoin is money becuase you can convert it into real money and then you can use this to buy anything and many people use this to transaction with other and i see many people became rich becuase they doing workhard everyday.

[justarmc]

Yes it is. Money is anything widely accepted as a store of value, it exists in many forms such as currencies and commodities like dollars or gold. And since bitcoin is widely accepted currency so it is money.

[bololord]

you can call like that because it can to buy some stuff and other, but bitcoin like something too that can be sold and get money for our income

I agree to you bitcoin is money becuase you can use this to buy stuff and anything but many people use this to pay their bills and debts but sometimes people use this to buy that they want but for me i use this bitcoin to earn only and i eill wait the time that the value of btc is $10000

[natka]

Yes it is. Money is anything widely accepted as a store of value, it exists in many forms such as currencies and commodities like dollars or gold. And since bitcoin is widely accepted currency so it is money.

The fact is that Bitcoin should not be seen as a means of payment, but as a means to save your income and increase your savings. In this way, one can completely cut off all the attempts to compete with the son of a feat. But I think that once it has a completely different meaning. Although every person has an individual opinion regarding his attitude to Bitcoin and crypto currency completely.

[UsernameBitcoin]

Bitcoin is money for two reasons. One is because it has all the necessary qualities of sound money and two is because people believe it to be and thus they are treating it like so.

[dioanna]

bitcoin is money but in other version thats why its called digicurrency
sometimes i think bitcoin is a product ,you exchange it for real money.
everybody has their own point of view on this