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Author Topic: Is Bitcoin money?  (Read 101241 times)
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October 16, 2017, 01:50:35 AM
 #1761

Yep, bitcoin sounds money to me.

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October 16, 2017, 01:53:03 AM
 #1762

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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October 16, 2017, 02:00:29 AM
 #1763

i bitcoin is not money , because bitcoin isnot really in life . money is really in life .i think bitcoin is money . bitcoin is simply bitcoin
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October 16, 2017, 04:13:11 AM
 #1764

No, Bitcoin is a currency employed into electronic entire world as payment to the electronic or online services. But you can converted it into a genuine income, using the other banks that acknowledge bitcoin as forex.
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October 16, 2017, 12:08:50 PM
 #1765

what I know of bitcoin is the intangible digital currency but has the same value as the world dollar. On the other hand bitcoin only as a means of exchange or property that can be used with always connected using the internet network. Over time digital bitcoin currency can be used as a very promising investment assets just like gold is widely used as an investment.

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October 16, 2017, 12:10:26 PM
 #1766

The whitepaper says peer-to-peer electronic cash. So yes, Bitcoin is money, a new kind of money.
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October 16, 2017, 10:31:24 PM
 #1767

Bitcoin is money because you can use this to buy a things you want using internet, but you cant touch bitcoin like fiat but it has also a high value.
The truth is that you cannot touch much of the fiat either, most of the fiat is just like bitcoin a bunch of numbers on a screen, so to me bitcoin is a natural step in a direction we are already going, to move all our transactions online, I have heard that Sweden wants to do this already.

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October 16, 2017, 10:48:09 PM
 #1768

bitcoin as new digital cryptocurrency you can use it to exchange into fiat money, bitcoin as currency are fast movement to increasing with high pirce value in the marketcap and bitcoin is easy to use in the online payment transaction i think for bitcoin and money are the same function use for exchange into goods.

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October 16, 2017, 10:58:21 PM
 #1769

No, Bitcoin is a currency employed into electronic entire world as payment to the electronic or online services. But you can converted it into a genuine income, using the other banks that acknowledge bitcoin as forex.
Bitcoin is not money but it can be change into money. If you. Bitcoin is a digital currency it can be used payment for online services but if you want it is converted into cash..

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October 16, 2017, 11:24:49 PM
 #1770

It is right, bitcoin is a digital currency, but when we convert it into dollar than no doubt bitcoin make us money.

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October 16, 2017, 11:45:00 PM
 #1771

Yes Bitcoin is money, we use it to trade to something that we need.
It is a digital money, that is what we called cryptoCURRENCY, we trade using this bitcoin.

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October 17, 2017, 12:06:27 AM
 #1772

bitcoin is the latest discovery in this century, which is very useful for the whole world. digital currency technology is highly trustworthy and has been proven everybody to make transactions, but bitcoin is currently illegal in my country, because bitcoin can not be controlled by the government.

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October 17, 2017, 12:39:52 AM
 #1773

    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?





    for my country today the real money that is still enforced legitimately, maybe I think bitcoin, gold, is a place or means for investment or other words is a place to save with interest income faster and larger, but still a legitimate payment in my country still using the official currency of the government

    francesyrus
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    October 17, 2017, 02:01:01 AM
     #1774

      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?






      I think Bitcoin is a money in the form of crypto currency or money that is being using online. We can buy things online by using bitcoin, we can even pay bill, buy game credits and even top up load for our cellular phones' network.

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      harbin55
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      October 17, 2017, 02:04:22 AM
       #1775

        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 it is money instead on virtualworld which can be cash out into real paper
        money

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        October 17, 2017, 05:40:25 AM
         #1776

          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 it is money instead on virtualworld which can be cash out into real paper
          money
          The only difference of bitcoin in some form of money is, bitcoin is a virtual money and you can just earn it online and the best thing right here, is you can earn it and cash it out in the form of fiat where you can spend it to the malls or stores that you know and buy the things that you really want because you can now afford them all. Bitcoin is also an investment and that is why i prefer bitcoin over fiat.

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          October 17, 2017, 05:50:14 AM
           #1777

          Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

          Yes. It doesn't matter what nation-states think bitcoin is.

          All we're doing is saying bitcoin as something else other than its economic reality.

          Anything that can trade goods is money.
          djgtr
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          October 17, 2017, 08:10:53 AM
           #1778

          Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

          Yes. It doesn't matter what nation-states think bitcoin is.

          All we're doing is saying bitcoin as something else other than its economic reality.

          Anything that can trade goods is money.
          i think bitcoin is an opportunity it is not really a money it is a crytocurrency and the simple way to get more money .it is considered as money because we can convert it into money if we  need money to provide our daily needs it is also an investment because if you hold it maybe someday you can also gain profit because of its  unstable price it is really amazing.


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          October 17, 2017, 08:24:46 AM
           #1779

          Technically yes, because it can be used to pay our bills and to buy something like loads, etc.
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          October 17, 2017, 11:07:37 AM
           #1780

          i think bitcoin is not money . bitcoin is simply bitcoin . money is money . money can buy bitcoin .
          but bitcoin and money can buy somethings that i want to buy it .
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