Is Bitcoin money?

[PizzaBTC]

Bitcoin is intended to be used as money. The extent to which it differs from the various definitions of money is primarily due to its unpopularity and lack of government sanction, which in my opinion should not matter when speaking about it as "money."

Yes, there is no harm if we consider that bitcoin is the same as the money will be different but the shape is called a digital currency. If the money we can use in the real world and directly but if bitcoin it could only be used in the internet world. but in the end it also endowed a bitcoin can we use to help our real life needs. with bitcoin we can make money is useful in the future.

yes I am agree with you that bit coin has been defined by different people in different angles but I like your one’s that bitcoin is a transactional tool which can be converted to any local currency and can be used in online buying, selling etc I also like bitcoin because it has converted the life of so many people from poverty to wealthy lifestyle.

[IceOleg]

Generally speaking - yes, bitcoin is a money since you can use them as a way of payment. But at the moment is more like a theory - we know that bitcoin can be used as a way of payment but actually it's not happening.

The guy who started the thread actually asked a very important question 7 years ago. And not that much have changed since that time. Yes, now there is more awarness, yes, it cost more. And no - it's still not accepted on a governmental level nor masses of people use it as a payment method.

[aizen10]

money? for me money is used to buy/change for the other products you want. so for me bitcoin is like a money but in a virtual reality, you can also buy/bought/exchange bitcoin on some products online if you want. and the good things is, bitcoin is not just like a money online, it is a very best investment program that you can earn more profits in the future. so it is both money and investments.

[cakra]

yes, I agree that bitcoin is another form of money. its function can indeed be a means of exchange, but there are several factors of the fiat that can not be found in bitcoin.

[fiomcorka]

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

Bitcoins are just like other currencies; they can be and should be sued for buying and selling good like conventional currencies. Moreover they are not just currency but also the best investment for secure purpose as well.

I think we should not waste time in doubting the nature and benefits of bitcoins rather start working them as soon as possible.

[bob123]

Money is a placeholder.
Noone likes Money because its beautiful Paper with Numbers on it. You can use Money to buy whatever you want. And since you can buy stuff with btc (or Exchange it) it Money for me.
Just a different Kind of money

[BitcoinCommodor]

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.

For me, bitcoin is money. Money is medium of exchange and so is bitcoins so definitely it is money. Though the usage of crypto coins for buying daily stuff is not on a large scale but purchases can be made by them. It is due to the lack of knowledge and all new technologies take time for adoption.

[h1h2h3_c]

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.

Yes off course bitcoin is a money because we can use bitcoin for various purposes   like we can use it for business or buying things and we can also cash bitcoin to our desire currency.

[Barbarian]

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

You do not have to use bitcoin for barter the whole point of currency is to avoid bartering, and to give a ledger in which people can know what it is the value of their possessions and the way to interchange them easily, so that is a mistake in they way you think about bitcoin.

[winterland]

Yes, Bitcoin is money . Its like an online job that we can use to earn profit . It is also one of the source of income of some students that is using bitcoin. It is so much helped with us because we can earn not just money but also our financial freedom.

Bitcoin is not an online job, you do an online job and instead of being paid with fiat you are being paid with bitcoin, bitcoin is just the unit used to pay you, bitcoin did not create that, probably the only people that have jobs thanks to bitcoin are the devs and the miners.

[darkangelosme]

For me it's no, i considered bitcoin as like gold not a money cause it can not exchange for our household commodities for example you are taking a bath then you run out of body soap then you'll go to grocery to buy it, you can't use bitcoin as mode of payment for the soap simple because it is not a money. That's obe of my example of my reason why i can not considered bitcoin as a money.

Hope you get my point  .

[Aganythe]

Cash performs numerous functions. They are employed not only as payment. For normal men and women, they are considered only as payment. For the financial system of the nation - this is an important resource. Bitcoin does not have the functions of supporting the economy. Consequently, it can not be named full-fledged money in the sense that exists now

[Shinigami78]

btc is a virtual currency that is widely used as a very flexible exchange tool. but gold can not be easily exchanged for a good. gold only as a commodity

[naira]

btc is a virtual currency that is widely used as a very flexible exchange tool. but gold can not be easily exchanged for a good. gold only as a commodity

Each has advantages and disadvantages, in some countries other than as a virtual currency, bitcoin can be a means of payment
While gold is just as an investment tool, but the price of gold is stable and continues to rise, while the sale price of bitcoin is very unstable.

[dylanc]

I think based on current situations, bitcoin can be considered a virtual currency or commodity. Not really considered as cash, even though it is getting much easier to convert it into cash.

[DoublerHunter]

I think based on current situations, bitcoin can be considered a virtual currency or commodity. Not really considered as cash, even though it is getting much easier to convert it into cash.

Bitcoin is considered as money just like fiat because it is an online money and you can use it to pay something in the internet like subscription, services or anything that you like in the internet but you need to make sure first that they are accepting bitcoin as a payment. Bitcoin is easier to convert into cash but it is easier to use it directly online.

[JMB2323]

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Dollars are currency, not money.  Money can be a currency and vice versa, but they are not quite the same thing and not entirely interchangable.  And fiat currencies are, by thier very definition, not money.  Gold, in our modern world, is still money even though it's no longer a currency.

Money is something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work. Also something generally accepted as a medium of exchange, a measure of value, or a means of payment.

Currency is the quality or state of being used or accepted by many people or group of people.
Where did you get definitions? Or you just made it up?
If bitcoin checked out then period

[bitcoinskyrocket09]

I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Dollars are currency, not money.  Money can be a currency and vice versa, but they are not quite the same thing and not entirely interchangable.  And fiat currencies are, by thier very definition, not money.  Gold, in our modern world, is still money even though it's no longer a currency.

Money is something (such as coins or bills) used as a way to pay for goods and services and to pay people for their work. Also something generally accepted as a medium of exchange, a measure of value, or a means of payment.

Currency is the quality or state of being used or accepted by many people or group of people.
Where did you get definitions? Or you just made it up?
If bitcoin checked out then period

Yes, how can i argue to this statement or definition. And i think this is from merriam. Haha, asking if bitcoin is considered as money is like asking "does wind real?". We can't see bitcoin or touch it but we can feel it and see what it can do to many lives including me. It can destroy or built, can touch but can't be. I think you get it.

[Yukyzu]

I think all that can be used as a balanced medium of exchange is money. Btc, gold, silver, and dollar are high value exchange tools, but the difference is people's point of view about money itself.

[mel1978]

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.

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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 yes bitcoin is money and a lot of people are using it online. They are using bitcoins for paying their monthly bills. Using bitcoins in paying online orders and other commodities. In fact, bitcoins nowadays are very popular in the world of cryptocurrency and many are happy because they are earning.