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Author Topic: Is Bitcoin money?  (Read 110598 times)
kingorbust
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March 11, 2017, 12:38:12 PM
 #161

Not only is the bitcoin money, but it is the future of the money.


 
 
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March 11, 2017, 12:57:37 PM
 #162

Money can be in any form. It is a medium of exchange. It can be used for payment transaction. Since bitcoin is acceptable as payment for goods and services, therefore bitcoin is way the same as money. Or shall we say bitcoin is money.
Some of the characteristics of money are in bitcoin, however it cannot be considered as money since it's not legally recognize as money by the government. Bitcoin cannot be independent since it's value is dependent on fiat, let's admit that we are interested with bitcoin because it has
a good value in fiat. Even how successful bitcoin is, it will still be measured base on fiat as there's no government that controls bitcoin, hence the proper way of calling bitcoin is only a payment system and not money.


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March 11, 2017, 01:15:06 PM
 #163

We cannot say that bitcoin is money because the government hasn't approve of it yet. It is an online currency which has some characteristics the same with money. Even though it is not a money, you can convert it to a real money. You can also use it as a mode of payme t to som online shop whicha acceots bitcoin.


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Question123
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March 11, 2017, 01:40:36 PM
 #164

We cannot say that bitcoin is money because the government hasn't approve of it yet. It is an online currency which has some characteristics the same with money. Even though it is not a money, you can convert it to a real money. You can also use it as a mode of payme t to som online shop whicha acceots bitcoin.
For me sir I think others country accepts bitcoin and also government . Yes you can convert bitcoin into real money . Bitcoin have many use like payment in online shopping buying gadgets , buying load and payment bills. If you have bitcoin now I think it is money if you convert it into cash. If you don't have buy bitcoin now and wait after a months and for sure the price of bitcoin will increase and you have a good profit . Bitcoin is money . Buy bitcoin now if you want money!

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March 11, 2017, 01:55:22 PM
 #165

For me bitcoin is a money since you can use it to buy stuffs. And you can convert it to a real money so bitcoin is a money for me. Bitcoin is a cryptocurreny A.K.A Digital money and some says that bitcoin is the future money. Government doesn't approved bitcoin yet but for all bitcoin user, bitcoin is a money.


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March 11, 2017, 02:25:47 PM
 #166

At present, bitcoin is no longer a new thing, it is something very familiar to everyone, and I believe it will go even further, because its possibilities are endless. I know people are looking for ways to make bitcoin more convenient, however, there is a problem going on at the moment, these are blockchain transactions, all transactions are stuck and not Confirmed, this repeated many times. So, I think we need something new, a new technology. It is a necessary condition for bitcoin to grow even further.

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March 11, 2017, 02:33:04 PM
 #167

Bitcoin for me is a currency, I'm just basing it so far for what is the reality happen. Bitcoin right now is not directly can be used as payment in any public merchant business in all places of the world. Bitcoin most commonly used in online payment such shopping online who is accepted bitcoin.

It is indeed something the presumption always protrude from the thought of by all who have believed and using bitcoin. because the bitcoin is a very special currency and provide greater profits and better than other currencies. Online payments are the main features and also excellence in bitcoin, but you need to instill and beware against acts of hacking wallet. because the wallet you have already become your own responsibility


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March 11, 2017, 02:33:16 PM
 #168

For me bitcoin is a money since you can use it to buy stuffs. And you can convert it to a real money so bitcoin is a money for me. Bitcoin is a cryptocurreny A.K.A Digital money and some says that bitcoin is the future money. Government doesn't approved bitcoin yet but for all bitcoin user, bitcoin is a money.

Yeah, basically bitcoin is money dude. However, because some of the excess assets as prices continue to rise each year, fast and inexpensive transactions, not complicated then bitcoin make "money" that have more value to those who have it. The government of my country does not prohibit the use of bitcoin, but if we use it for illegal activities then the authorities will act. Thank you
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March 11, 2017, 02:36:22 PM
 #169

Bitcoin is indeed a money since it does have value and can be exchange to local fiat or can be directly spend on some countries that do accept bitcoin.The only problem is bitcoin isnt still recognize all over the world and also government does really have negative insights or views about bitcoin which could really block its adoption.


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in
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March 11, 2017, 02:37:11 PM
 #170

Bitcoin is money and it just work like a real money because you can use it as a money where you can use to pay your stuffs online or offline and you can also pay your monthly bills using bitcoin because most of the wallets online enables that as a help for other people or to their user to make paying things easier than before with the help of bitcoin.

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March 11, 2017, 02:54:25 PM
 #171

Of course that is money, since I can get paid in bitcoin for something that I offer as a service or selling (digital) goods then it's money.

I consider bitcoin more than money, many innovations has been made when bitcoin came us, the blockchain which many businesses, countries like this technology.

The issue is that bitcoin is not so much popular worldwide and we are limited to use bitcoin in many places unless using third party app/services.


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March 11, 2017, 03:02:58 PM
 #172

Definitions clearly says that bitcoin is currency, international currency. Bitcoin is also store of value, something like gold, but easier to use and store, with bitcon you don't need to pay for private safe.
But, but... today we saw news about ETF rejection, why do you think they rejected this proposal? Bitcoin is not for governments and they will try to sabotage bitcoin, they will talk against it, that is propaganda! Bitcoin is money and I think in the end everyone will know that.



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March 12, 2017, 01:18:22 PM
 #173

In my observation, even me I got sometimes confused if bitcoin is money, then my I found out that bitcoin was also a money electronically, though it can't be used as phiysical but there is a chance that bitcoin can be convert into physical money/paper money, Even USD their can be use as electronically and physical so they are both money or currency.

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March 13, 2017, 01:27:37 PM
 #174

They way you explained was well elaborated. And the answer to you question is yes.
Bitcoin is a crypto currency relatively an online currency which is not been accepted by many companies.
It does not have or isn't any paper currency which can be exchanged physically.
But you can exchange them online but sending the particular amount from your wallet to the person you want to send.

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March 13, 2017, 01:41:23 PM
 #175

Money can be in any form. It is a medium of exchange. It can be used for payment transaction. Since bitcoin is acceptable as payment for goods and services, therefore bitcoin is way the same as money. Or shall we say bitcoin is money.
Some of the characteristics of money are in bitcoin, however it cannot be considered as money since it's not legally recognize as money by the government. Bitcoin cannot be independent since it's value is dependent on fiat, let's admit that we are interested with bitcoin because it has
a good value in fiat. Even how successful bitcoin is, it will still be measured base on fiat as there's no government that controls bitcoin, hence the proper way of calling bitcoin is only a payment system and not money.

Nope Bitcoin value is not dependent on fiat.  Bitcoin have its own value, and through that, fiat currency adopt its value.  Have you not seen how Bitcoin goes up and down in price value? (Fiat conversion)?  If it is dependent on fiat then Bitcoin would never be as volatile as it is.

















































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March 13, 2017, 01:48:29 PM
 #176

Yes bitcoin is money because it will give us financial support in our daily needs and also for fun like you can use that for betting online for gambling games like at btc gambling sites. You can use bitcoin for trading of digital cryptocurrencies, which could generate bigger profit and could make you rich if you are hardworking with positive attitude.


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March 13, 2017, 01:54:39 PM
 #177

We cannot say that bitcoin is money because the government hasn't approve of it yet. It is an online currency which has some characteristics the same with money. Even though it is not a money, you can convert it to a real money. You can also use it as a mode of payme t to som online shop whicha acceots bitcoin.

Lol have you been reading the news?  I think your country's central bank recognized bitcoin as money since it is recognized as payment.  Aside from that Bitcoin even without converting it to fiat can be used to pay buy item online.  Anyway saying such thing as being accepted as payment then Bitcoin can be consider as money, yes?
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March 13, 2017, 02:01:53 PM
 #178

Bitcoin is similar to the regular currency that we use everywhere. Only the acceptance and usage limit is not found equal to the different currencies that are used in different countries. Later we can see people using bitcoin same as traditional money for all daily needs.


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March 13, 2017, 02:22:47 PM
 #179

Bitcoin is similar to the regular currency that we use everywhere. Only the acceptance and usage limit is not found equal to the different currencies that are used in different countries. Later we can see people using bitcoin same as traditional money for all daily needs.


I strongly agree with your point as bitcoin is the future of digital currency and inevitable but as of know it's not completely accepted by all because they are not aware of bitcoin and the advantages of bitcoin over the fiat currency and once people are aware of the benefits of bitcoin obviously people will prefer bitcoin over the fiat currency and now in western countries you can find bitcoin ATM which is a clear symbol of acceptance for bitcoin as an alternative for money.
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March 13, 2017, 02:25:59 PM
 #180

In addition, bitcoin has many more superior features, and many more advantages, it offers greater value, and can be traded more easily, in many countries, bitcoin is widely used and free from Constrained by the legality, so transactions near and far are more convenient than ever. However, there are some limitations, and most notably, the legality of it. Because it is not managed, so criminals will use it for bad purposes, we can not foresee. And what I know, is money laundering, bitcoin will be most exploited on this issue. It is very difficult to stop.


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