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Author Topic: Is Bitcoin money?  (Read 110598 times)
Mazda17
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October 15, 2017, 08:03:12 AM
 #1741

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
yes that's right and I agree with your opinion.
Everything that can be used as a medium of exchange into money.

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October 15, 2017, 08:13:56 AM
 #1742

Yes it can be money if you convert it to your currency that's why bitcoin is a money. In fact, this is is crytocurrency.

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October 15, 2017, 08:22:00 AM
 #1743

yes bitcoin is money.It is a digital currency and has value.Any currency which has value is called money.hope it is clear for you.
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October 15, 2017, 08:22:13 AM
 #1744

Yes it can be money if you convert it to your currency that's why bitcoin is a money. In fact, this is is crytocurrency.
Though it's not a real money like fiat but the fact that bitcoin has a value it can be called as money.
I would love to have a lot of bitcoin and I will surely become rich, this is not a regular money because by holding it as an investment
we can expect the value will grow.

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jzale
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October 15, 2017, 08:29:05 AM
 #1745

I view bitcoin as more than that. It is more than money. I view it as an asset that has a big potential and various uses. Though basically bitcoin = money. People want to have bitcoin because it is equivalent to money.

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October 15, 2017, 08:34:09 AM
 #1746

I think bitcoin is not money, but currency. Bitcoin is a crypto currency,
You can think of it as revenue to some extent,
When you buy something through the medium of money received.

Bitcoin is also a kind of money like paper money or coins are also in the trade everywhere in the world there are even many atm machines that operate for the withdrawal of these currencies.
Bitcoin is a digital currency attached to the internet and if there is internet you can use your money

As long as people appreciate and are willing to exchange goods and services for it, and meet certain criteria, divisions, feasibility, scarcity, which do occur. it is money.
Yes, bitcoin is money, digital or virtual money and operates using blockchain technology, which is an innovation that will benefit mankind that goes far beyond cryptographic applications.
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October 15, 2017, 01:23:33 PM
 #1747

    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 is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator.  so its money but not tangible enough
    but it source of money

    phuongthao97
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    October 15, 2017, 02:17:52 PM
     #1748

    i think bitcoin will be money because bitcoin can be change money . Money can be simply bought that things . if bitcoin do not buy things , bitcoin will not be money . if you have so much bitcoin  , you will have so much money 
    Emerge
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    October 15, 2017, 03:40:47 PM
     #1749

    Bitcoin is more than a system to store and transfer value from one person to another. Bitcoin is a protocol, a computer network, and much more.

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    Rajat97
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    October 15, 2017, 06:56:38 PM
     #1750

      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 is a type of virtual currency which u can't see just have it with you. Bitcoin is on the verge of replacing the physical currency and its growth is for sure.
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      October 15, 2017, 07:10:46 PM
       #1751

      Bitcoin can give a huge opportunity to make a fortune. Of course, it isn't that easy. People who invested in it between 2009 and 2011 are already rich and they are probably observing what is happening right now. Even if you invest small amount of money, you will earn thanks to hardforks which happen time to time and increasing Bitcoin value.
      maxlimux
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      October 15, 2017, 07:30:52 PM
       #1752

      Bitcoin is a trading object for me.
      cryptonews90
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      October 15, 2017, 07:59:42 PM
       #1753

      Yes it's. Bitcoin will be the currency of the future because
      Bitcoin is best currency in the world
      50ouncebrew
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      October 15, 2017, 09:08:43 PM
       #1754

      Bitcoin is absolutely money because it is a store of value, a medium of exchange, and a unit of account. Once BTC is accepted onto a global market then you won't be asking if it is lol.



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      Faruque312
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      October 16, 2017, 01:19:49 AM
       #1755

      Bitcoin is a digital online currency & Bitcoin is regulated by no nation or bank. So we want to say that this is a online money. In reality it can be hand-operated in the same way, it is also traded through online.

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      October 16, 2017, 01:43:34 AM
       #1756

      YES. lol

      https://bitcointalk.org/index.php?topic=2214619
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      October 16, 2017, 01:45:11 AM
       #1757

      For sure it is money , when you can exchange it for goods it is pretty much money.

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      October 16, 2017, 01:46:26 AM
       #1758

      I diffenately aggree that bitcoin is money since it is named a currency. Literaly money is used to buy, or trade products, in case on bitcoin people can be traded to fiat currency in order to trade in real product, so basicaly in my point of view, yes it is money.

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      October 16, 2017, 01:50:35 AM
       #1759

      Yep, bitcoin sounds money to me.

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      October 16, 2017, 01:53:03 AM
       #1760

      I would argue that Bitcoin is money and quote your statement and definition where currency is 'a store of value'.  Bitcoin is a store of value because the people have deemed Bitcoin as being valuable.  Obviously the technology that allows bitcoin to exist is the main reason why it has value.  The technology essentially allows you to be your own bank as well as anyone else holding bitcoin and facilities transactions instantly person to person, no middle man with security involved.  

      However back to the main point.  Bitcoin is money because people believe it has value.  Most things have a certain value and most things have been a form of currency at one point or another.  It wide use makes it have a higher value than other forms of currency.

      Personally I am very happy bitcoin is around.  thank you Satoshi and all the other crypto genesises out there who made this possible.  I wholeheartedly believe this will change the world for the better.  People power. pow pow
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