Is Bitcoin money?

[NoNetwork]

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.

For me it is. Money, a money that helps people to change their life even though someone calls it that Bitcoin is not a money but I for me I considered it as a money .

Why do we always see Bitcoin as money? Is it just because we can convert it into money eventually? That's just being a mere ignorant I par say. I mean, with the lack acceptability in lots of country, Bitcoin haven't progress that much, I mean it still doesn't have that kind of utilization that we always needed. I mean I know that few countries have already accepted as payment but then again, those countries have different rules and privileges in utilizing Bitcoin. So yet again, we broke the main concept of Bitcoin which is using it as freely as the man see fit.

[Gaff]

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.

In present, Bitcoin look like as an asset or stock for trade and investment than paper money as Dollar or other currencies on the world. However, you can not know anything has the price fluctuation strongly as Bitcoin. That is the difference between Bitcoin with others.

Of,course it is still money and from that we can get profits. Thesedays, it's a bit tough to earn because of the selling and buying price. However, people are still good at managing and planning of any cases to happen if there are dips. It is a kind of money which is a crypto specifically a digitized money which you can change into fiat as physical money. Isn't it incredible?

[Matimtim]

The things that we are accepted as representation of a things as a payment is always money that we are able to buy something because we accept it as means of payment. So bitcoin is a money because many people around the world who accept bitcoin as means of payment. So its clear bitcoin is money or digital money.

[Janation]

The things that we are accepted as representation of a things as a payment is always money that we are able to buy something because we accept it as means of payment. So bitcoin is a money because many people around the world who accept bitcoin as means of payment. So its clear bitcoin is money or digital money.

There are things that are accepted as a payment but it is never a money. If you will be tracking back the time where in the Chinese roam around the world to do trading, that time there are no money but they accept each things with the same quality and value as a payment, bitcoin is the same, they are traded by the things we want of the same value, the thing is bitcoin can be minimized by it's decimal digits that is why we can afford almost everything.

[Zubayer]

Bitcoin is one kind of money, actually it's not money but it brings money. Nowadays bitcoin is the best way to change ones life. Bitcoin can make you a rich man. If we know everything about bitcoin then we can earn bitcoin and bitcoin should bring money.

[Asmonist]

Money by definition is a medium of exchange. Bitcoin can be exchange to another currency or for a service or goods in some cases. Therefore, bitcoin is money. Its a digital currency that can be turned or exchange to your local currency. That's make it more amazing!

[sakkosekk]

I think most bitcoin investors think and wait for opportunities like you
We have the same goal when investing bitcoin
It's great that today the bitcoin price is $ 6000

[sakkosekk]

Yes, bitcoin is money, gold, and all life
There are still arguments, bitcoin is money or goods
I need answers from you

[Foromany]

There are only one particular response in this thread and 1 concern to reply the question on the title.Is bitcoins use for payment for an medium of exchange?yes is the response proper for that reason bitcoins is income just like usd and other fiat currencies about the globe.

[Rj Manik]

Since the first bitcoin is to be cashed to buy then I think it is some money that is money.Moreover, the money that can not be cashed will be of no value.So I think Bitcoin is one of the money.Although it is a virtual money.

[winterland]

The whitepaper says peer-to-peer electronic cash. So yes, Bitcoin is money, a new kind of money.

While there is no doubt that bitcoin is money you must not rely exclusively about what a document says many governments still state that their national currencies are a way to store value and yet we know that this is not correct at all since they are always printing more and more currency every day.

[Getcoinsite]

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?

theres nothing to argue,bitcoin may not exactly as money but convertable unto money value..thats the reality of what is asking.

[eye-con]

from the word itself, bitCOIN, coin is money. and bitcoin is a cryptocurrency. cryptocurrency is money.
and we all know that bitcoin can be used to buy things through online, and if you want you can also exchange it to physical money.

[szpalata]

from the word itself, bitCOIN, coin is money. and bitcoin is a cryptocurrency. cryptocurrency is money.
and we all know that bitcoin can be used to buy things through online, and if you want you can also exchange it to physical money.

Precisely, it does everything money does and so how can it be less of money? I use my bitcoins in micro payments online to buy VPS and send funds to friends and family just like i would use conventional fiat and so i don;t see why it wouldn't be money.

[josephinerosdy]

bitcoin is not money but asset like gold. not worth if use bitcoin for buy a things.
buy bitcoin invest bitcoin why buy money for money if bitcoin is money?

[KnightElite]

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 cryptocurrency. We can make many money by using bitcoins. Bitcoins created many jobs for all of us and we are lucky because we are now earning many money because of the bitcoin.

[Passive Coin]

Bitcoin is a cryptocurrency. We can make many money by using bitcoins. Bitcoins created many jobs for all of us and we are lucky because we are now earning many money because of the bitcoin.

I agree.
Of course, bitcoin is money and medium of exchange. For very sure.
Bitcoin is listed and exchanged on licensed exchanges e.g. Bitstamp.
So, you can legaly switch to fiat and vice versa.
This way, Bitcoin is regarded as currency/money.

But, I am more happy to see signs Bitcoin is getting mature and people start saving for retirement, in this currency.
Great!

[Islampower]

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 simply a nonphysical digital currency that works on a so-called Blockchain protocol and is a revolution
his first concern is to be free from the influence of banks
a decentralized system says P2P (person to person) without going through a financial institution for quick and easy transaction around the world

here it is, it's my simplified difinition
have a good day !

[jatin729]

Bitcoin can be used as money as well as Asset.
Like there are few countries where eCommerce websites accept bitcoin as a payment , so there bitcoin is treated as money.
but in some countries if you want to use bitcoin than first you have convert bitcoin into fiat currency,

[Harbal]

Money performs numerous capabilities. They are utilised not only as payment. For common men and women, they are considered only as payment. For the financial system of the place - this is an important resource. Bitcoin does not have the capabilities of supporting the economy. Therefore, it can not be called full-fledged funds in the sense that exists now