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Author Topic: Is Bitcoin money?  (Read 100514 times)
dreamer81
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October 17, 2017, 11:10:39 AM
 #1781

Stop thinking of bitcoin as something similar to fiat. Bitcoin is store of value. Basically it means that if you buy 1 BTC the purchasing power of 1 BTC is the same (or more) after 1 year.

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October 17, 2017, 11:12:46 AM
 #1782

it depends on your definition of money. i know some profs that don't think it's money, and economists that think it is.
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October 17, 2017, 11:23:21 AM
 #1783

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.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.
I agree with this. Even though it is not a tangible money, we can add and manage the value and deal with it. Not like gold. We can say it as a digital money.
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October 17, 2017, 11:26:01 AM
 #1784

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.
I definitely agree with you in this regard. Bitcoin itself could not be considered as money.  It is only a way to increase the money that you have already earned or have saved up besides for future use. Some people despite of all these facts do claim that they find it as the source of earning and are doing well in this area of financial matters. But the thing is that everyone has his or her own point of view of bitcoins.

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October 17, 2017, 11:34:02 AM
 #1785

I think they are just the same the way I buy and pay bills here in my place. but they there on advantages and disadvantages, bitcoin is so easy to use no matter you don't have money you can buy and pay online but you can't carry when you don't have internet unlike money you can carry anywhere but it can be lost or snatch

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October 17, 2017, 11:40:43 AM
 #1786

I think they are just the same the way I buy and pay bills here in my place. but they there on advantages and disadvantages, bitcoin is so easy to use no matter you don't have money you can buy and pay online but you can't carry when you don't have internet unlike money you can carry anywhere but it can be lost or snatch

I would say bitcoin is not money but it is something more like movable gold.. something that has a value to it and yet you can split it up into small little pieces to move it around the world.
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October 17, 2017, 11:47:13 AM
 #1787

In my opinion Bitcoin is money but it's not something material, like money on a card Cheesy.
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October 17, 2017, 11:53:06 AM
 #1788

I trusted that Bitcoin is a new kind of money for our world!

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October 17, 2017, 12:13:54 PM
 #1789

For me is not like that actually is more than money and i see bitcoin will be the futur . it will beat all of the currency
Bustart
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October 17, 2017, 12:40:02 PM
 #1790

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.

I'm not agree of your opinion that bitcoin is not money. Bitcoin is money for it allow online users to processes money transactions.It is a scarce commodity used as money by millions around the world. It is a commodity money without gold and a fiat without a state. It also called money for it has its own value. Besides, there are thousands of businesses and individuals voluntarily accept bitcoin as payment and is also used  by other people to shop online.

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October 17, 2017, 12:40:52 PM
 #1791

Of course Bitcoin is money. Money is just a ledger that keeps track of debt. Since that's the case Bitcoin is the best form of money we have ever seen thanks partly to the immutable public ledger, the blockchain.
Yes indeed bitcoin is a money because you can buy anything without money and through bitcoin you can buy things for your daily expanse or you can pay bills so it’s must be clear to everyone about bitcoin that bitcoin is a digital currency and it’s going to change a life of people and bitcoin price is also high then other currency which is a good quality of this currency.

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October 17, 2017, 12:51:39 PM
 #1792

Technically yes.
For me BTC is currently an investment or money depot with nice interest rate, but it have a good chance to be common money in future.
I think the future depends on many things like the trust of the people in banks, wars, inflation, how goverments and banks react to the change what is going on,...
IMHO i think BTC is a good investment now, because people don´t have the same amount of trust in banks like years ago and want to save some money elsewhere, BTC getting more popular every day, ..., time will tell Wink
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October 18, 2017, 12:17:20 AM
 #1793

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
right, bitcoin could be money if used as a tool to buy something or as a medium of exchange and if stored and collected it will be an investment such as gold or stock

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October 18, 2017, 12:26:30 AM
 #1794

I've known Bitcoin first in Deep Web. Wherein people use it as a payment for buying illegal things. Now we trade Bitcoin together with other cryptocurrencies. And for me, I cannot consider it as money since its price is volatile. When we want to buy things, we still convert it in cash. So it is a commodity like Gold because we speculate the price.

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October 18, 2017, 12:39:35 AM
 #1795

I think Bitcoin works as a money because many people in the world use Bitcoin as the currency of their own country. Anything used as an exchange medium is money. Bitcoin, gold like gold So, I used to use Bitcoin as money.
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October 18, 2017, 02:12:06 AM
 #1796

Bitcoin is undoubtedly income. You can use it to acquire and promote products which definitely classifies it as funds. Also, it is worth a lot of USD.
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October 18, 2017, 03:19:00 AM
 #1797

Yes and that's why is called cryptocurrency. It offers more cash than what you get in dollars. No doubt that is at the top of all the currencies in the world right now and it just replace US dollars. To me, it's so precious that Ican treat btc more than just a money.

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October 18, 2017, 03:35:56 AM
 #1798

Yes and that's why is called cryptocurrency. It offers more cash than what you get in dollars. No doubt that is at the top of all the currencies in the world right now and it just replace US dollars. To me, it's so precious that Ican treat btc more than just a money.
Bitcoin is also a money. It is known as virtual currency which anytime if you want to exchange for physical money  can be acceptable since it is traded online and has bunch value of dollars Smiley

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October 18, 2017, 03:50:52 AM
 #1799

Yes and that's why is called cryptocurrency. It offers more cash than what you get in dollars. No doubt that is at the top of all the currencies in the world right now and it just replace US dollars. To me, it's so precious that Ican treat btc more than just a money.
It's the best crypto currency but it won't replace dollar, they are not in competition because we need fiat to own bitcoin and we need to convert
bitcoin to fiat to spend our money in this world. Let's be more realistic here, bitcoin looks good but it has a limitation.

 
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October 18, 2017, 03:57:08 AM
 #1800

Yes Bitcoin is money, virtual money. More and more businesses are accepting it too Cheesy
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