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Author Topic: Is Bitcoin money?  (Read 108224 times)
Marble777
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October 19, 2017, 05:10:56 AM
 #1841

+1 agree that it is not money.  However, if it was a pure commodity then it would necessarily require some (even minimal) use value, beyond an exchange value.  Right now bitcoins have a 0% use-value and a 100% exchange value (eg, if they could not be exchanged for something else, they would merely be taking up space on our harddrives and are inherently useless, like random chunks of data).

But even if Bitcoin's exchange rate does not mean that bitcoin is not money, if I think Bitcoin can also be used to buy some of the things we want, maybe not many companies are currently developing their business to make payments with Bitcoin. But that's just my assumption, correction if I'm wrong, because we all also learn together.

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milandres0207
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October 19, 2017, 05:19:34 AM
 #1842

We all know that bitcoin is a crypto currency and we can use it online or digital payment. Perhaps, it is a kind of money i think because of some characteristic of money that bitcoin have. otherwise we can use bitcoin like what money can do in some cases. But if we compare it physically, big description of the two are difference.
heleng05
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October 19, 2017, 05:45:20 AM
 #1843

I think that Bitcoin is money, because I usually pay and buy online using this Bitcoin. and sometimes it gives you more time to work on what you want to do at home

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October 19, 2017, 05:46:18 AM
 #1844

I think money is better the cash one reason why the bitcoin is not already adapting few countries in this world and we need to change the bitcoin to real money buy anything, the real money has many purpose to buy more than the bitcoin, I wish that someday that the bitcoin will be legal in nationwide so that we don’t have to changes it to the real money.

shritin1707
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October 19, 2017, 05:59:11 AM
 #1845

yeah bitcoin is money but a new kinda of a money whose price keeps on changing.Actually you can compare it with gold because in both case the price keeps on changing and yeah you can spend bitcoin in normal shop,you can pay your bills with that,you can travel with that,you can buy games with that and lot more. basically i am trying to say is bitcoin can be spend like money,money whose price keeps on changing
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October 19, 2017, 06:54:02 AM
 #1846

We all know that bitcoin is a crypto currency and we can use it online or digital payment. Perhaps, it is a kind of money i think because of some characteristic of money that bitcoin have. otherwise we can use bitcoin like what money can do in some cases. But if we compare it physically, big description of the two are difference.
Bitcoin is money and nothing can change that but the special thing in bitcoin that the physical money doesn't have is the volatility of the bitcoin because of the volatility the price of bitcoin is keep going up and it is why we should invest a little bit of our money in bitcoin to earn some more money and we should have a great knowledge in financial literacy to balance things.

notyours
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October 19, 2017, 07:08:59 AM
 #1847

Bitcoin is money so we can not handle it. Bitcoins are a series of numbers up to 100 million and each piece is important. And if you have 1 Bitcoins you also have 5,500 $ worth of money. We can also buy it on Fiat Moneys so it is also a money in the form of the internet.

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October 19, 2017, 08:35:23 AM
 #1848

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.
Yes I agree with you it’s a digital currency that’s why its called crypto but this currency is different then any other currency because its only available online through internet and is price is also high than any other currency in some Europe countries bitcoin has a credit card as well this currency also teach you a lot of things about trade, mining etc.
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October 19, 2017, 08:43:12 AM
 #1849

I think it is a kind of asset. Because Its price is very high now ($5500 per 1 coin). People won't call it Money. Maybe people treat it like gold, diamond or stock.  Grin

gkosyak
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October 19, 2017, 02:48:44 PM
 #1850

I think it is a kind of asset. Because Its price is very high now ($5500 per 1 coin). People won't call it Money. Maybe people treat it like gold, diamond or stock.  Grin

and at the same time the price is rising rapidly
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October 19, 2017, 04:42:33 PM
 #1851

At the moment, bitcoin is money in the crypto currency, as long as it is a universal equivalent of the value of only other coins. This is what creates the liquidity of bitcoin on exchanges. When the daily volume of bitcoin in payment for goods and services will be more than on exchanges, then bitcoin will be a full-fledged money.

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October 20, 2017, 02:43:33 AM
 #1852

I think Bitcoin is not money but it is digital payment system.But the bitcoins can changes to money.The prices also expensives and valueable eventhough it look like small amount. 1Btc cost 4641 in dollars money.
If bitcoin was just a payment system then we will need a unit to act as a currency, for example, paypal is nothing more than a payment system because they do not use their own currency they use dollars and many other international currencies, bitcoin uses its own units so bitcoin is a lot more than a payment system.

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October 20, 2017, 02:55:52 AM
 #1853

I think Bitcoin is not money but it is digital payment system.But the bitcoins can changes to money.The prices also expensives and valueable eventhough it look like small amount. 1Btc cost 4641 in dollars money.
If bitcoin was just a payment system then we will need a unit to act as a currency, for example, paypal is nothing more than a payment system because they do not use their own currency they use dollars and many other international currencies, bitcoin uses its own units so bitcoin is a lot more than a payment system.
But the government sees it as a payment system because they believe the only currency are those legal currencies created by them.
If we want to see bitcoin to be regulated then we have to rely on the decision of the government and they would not allow it to be more powerful than their own currency.

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wellsontheja
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October 20, 2017, 02:59:44 AM
 #1854

Technically it's money because it's had price and trade volume, but rather than money i more likr to call that assets because the price very expensive for money it's more like gold or lead but no physchical form.
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October 20, 2017, 03:14:27 AM
 #1855

It is now considered as one of financial assets or non physical assets like stocks, bonds, bank deposits, pension fund. Like other financial assets Bitcoin can be turned into cash.

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October 20, 2017, 04:20:43 AM
 #1856

bitcoin or dollars is not money, but you can exchange bitcoin with the exchanger in your country's money.

Konco126
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October 20, 2017, 04:34:59 AM
 #1857

In my opinion, bitcoin is a kind of digital currency that can be from internet. Bitcoin can be popular because, many people today are joining in bitcoin. The large number of people join in bitcoin due to economic factors. Most bitcoin is now used as a new livelihood for making money and meeting needs of everyday life.
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October 20, 2017, 04:38:33 AM
 #1858

bitcoin or dollars is not money, but you can exchange bitcoin with the exchanger in your country's money.
bitcoin is a digital currency and it can be easily convertible to your desire currency through exchanges and off course its a money. because you can do payment in bitcoin is some places where bitcoin is acceptable.

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October 20, 2017, 04:57:30 AM
 #1859

Bitcoin is a worldwide cryptocurrency and digitalpayment system called the first decentralizeddigital currency, as the system works without a central repository or single administrator. It was invented by an unknown person or group of people under the name Satoshi Nakamotoand released as open-source software in 2009. The system ispeer-to-peer, and transactions take place between users directly, without an intermediary.These transactions are verified by network nodes and recorded in a public distributed ledger called ablockchain. Bitcoin is a new form of money which you can convert your physical cash to virtual cash online which is Bitcoin. Bitcoin can be used for paying bills, fund transfer and investments online. What are you waiting for? Invest now to Bitcoin and be "in" what is in demand right now! 😀

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October 20, 2017, 06:08:23 AM
 #1860

Like people use cash transfer some time ago and now most of the people prefer digital transactions even for shopping or at any other place. According to me like this Bitcoin gonna be the future money and every where we can use Bitcoin. We can do shopping and manage our daily expenses by using bitcoin.






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