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Author Topic: Is Bitcoin money?  (Read 110598 times)
Wildwest
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October 20, 2017, 07:20:59 AM
 #1861

Actually Bitcoin is money too but this is in the Internet version. All we know Bitcoin is a virtual currency that can be used on the internet. We can also convert it into real money who can be exchange to your local money. Same with other currencies Bitcoin is also a very profitable place to invest.


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October 20, 2017, 07:39:38 AM
 #1862

Yes i may say that bitcoin is also a money,
because anything using in midium of exchange and services is money..
Bitcoin is money because we use it every transactions both online and  many other place..
It is a real money but not in a paper form so anything use for the good and servives is a money..
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October 20, 2017, 09:44:08 PM
 #1863

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

why dollar not money?
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October 20, 2017, 10:07:50 PM
 #1864

What do  you mean by saying that the bitcoin performs the functions of gold?
For me and Im sure that also for big amount of people, gold is a thing that may be very useful in the event of ongoing crisis, or some kind of a territorial conflict.
In some cases, that is a crucial factor for some people when it comes to choosing the asset. You cannot really hope that bitcoin will be useful if there will be a war in your country, because nobody will really accept BTC payment in a big danger.
When gold is always something that many people are willing to pay you a lot for it, there is no problem in converting it into food or needed resources.
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October 20, 2017, 10:17:48 PM
 #1865

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

why dollar not money?
I was dizzy to see someone say the dollar is not money in his mind so make the post Grin the dollar is the currency that the world recognizes in every country have receive its legitimacy dollars validated by the world
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October 20, 2017, 10:24:21 PM
 #1866

There is a lot of discussion about that but yes I think Bitcoin is more a digital asset than a money.
It will become a money when will get more connection with the "real" world.

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October 20, 2017, 10:31:32 PM
 #1867

In simple words Bitcoin is our "future"!!!!!!It's like a child whose growth from small !!!!
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October 20, 2017, 10:58:10 PM
 #1868

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 .

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October 20, 2017, 11:22:18 PM
 #1869

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.

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October 20, 2017, 11:41:23 PM
 #1870

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?

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October 20, 2017, 11:41:33 PM
 #1871

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.

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Janation
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October 20, 2017, 11:45:56 PM
 #1872

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.

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October 21, 2017, 12:18:56 AM
 #1873

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
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October 21, 2017, 01:02:35 AM
 #1874

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!














 

 

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sakkosekk
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October 21, 2017, 01:10:04 AM
 #1875

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
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October 21, 2017, 01:12:24 AM
 #1876

Yes, bitcoin is money, gold, and all life
There are still arguments, bitcoin is money or goods
I need answers from you
Foromany
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October 21, 2017, 01:57:03 PM
 #1877

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
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October 21, 2017, 04:29:47 PM
 #1878

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.

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October 22, 2017, 03:55:38 AM
 #1879

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.
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October 22, 2017, 04:57:16 AM
 #1880

    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]
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    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.

       

     
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