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Author Topic: Is Bitcoin money?  (Read 107615 times)
Dreamchaser21
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October 22, 2017, 11:16:41 PM
 #1921

Bitcoin is a ditigal currency that we can use to transact online and also you can easily convert it into fiat money which we can be more convenient to you. Bitcoin is my great source of money, it is a money generator for me simply because they allow me to make big money even just working online, and this is really a great opportunity for us.

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October 22, 2017, 11:20:25 PM
 #1922

Bitcoin is money because it is a universal ledger that keeps track of debt. This is what money is and that is what accomplishes amazingly. It's immutable decentralized consensus network is the reason.
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October 23, 2017, 03:28:40 AM
 #1923

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.
Yes there is no doubt that it’s a digital currency and it work same like other currency you can buy things and you can also pay bills and you can exchange this with other currency so bitcoin is totally currency and you can learn a lot of things here as well you can trade here also and the good thing is bitcoin is now available almost everywhere.
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October 23, 2017, 03:41:55 AM
 #1924

Bitcoin is a new cryptocurrency, has just been popular for few years because it can be used for many purposes, trading and investing but aslo can be exchanged into money for daily use, so bitcoin is very special thanks to these reasons

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October 23, 2017, 04:08:37 AM
 #1925

If you don’t understand money, you cannot understand bitcoin. For most of us, money is the U.S. dollar, the fiat currency of the United States issued by the Federal Reserve and maintained by the commercial banking system.
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October 23, 2017, 04:24:39 AM
 #1926

    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 digital currrency which means you cant hold this like a fiat money but bitcoin is more amazing than fiat becuase if you have bitcoin the bitcoin is price is increasing  and then you can convert it into real money called fiat do bitcoin is money.

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    Lannie25
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    October 23, 2017, 04:26:47 AM
     #1927

    For me bitcoin so far cannot be consider as a money. But  as a source of money. You can exchange bitcoin to a fiat or real money but i think Bitcoin soon will become a concept of money in the future.

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    October 23, 2017, 04:34:50 AM
     #1928

    I think that I am money. I think the reason is simple.
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    October 23, 2017, 04:48:26 AM
     #1929

    Bitcoin and other digital currency perform the function of money, which means that it is money. With this you can argue, but the fact remains. This issue was raised, in principle, in connection with the topic. that this is not ordinary, not physical money, as it was always before, but digital, virtual. However, the essence of this does not change. Everything that is applied as payment for a good or service and is not also a commodity should be referred to as money.

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    October 23, 2017, 05:00:50 AM
     #1930

    Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
    bitcoin is a new type of digital money that can be used for payment of goods or services or online payments, and can be exchanged into currency in accordance with the currency of your country.

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    October 23, 2017, 05:06:02 AM
     #1931

    I think bitcoin has same function as money that is for payment sytem.
    I am not such expert people to describe what is money itsself.
    For me bitcoin is like virtual money.

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    October 23, 2017, 05:08:39 AM
     #1932

    Well depends what you consider "money". If you can buy something with it then for me its as real as printed paper.
    bitcoin can also be used as an online payment tool, as well as long-term and short-term investments, much more if you want to learn more.

    macchiato
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    October 23, 2017, 05:13:38 AM
     #1933

    Bitcoin is electronic money. It can be used directly for transactions in countries who recognize bitcoin as medium of exchange. In contrary to what I said, it is still "money" even in countries which do not recognize it as one because there are existing wallets and apps that convert bitcoin into local currency. Thus, it's money after all.

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    October 23, 2017, 05:14:33 AM
     #1934

    Yes i rather consider bitcoin as a real money even bitcoin is not accepted by the government, it is still can be used to pay all your expenses at your home and bitcoin has been a good advantages to me because when i started to use bitcoin i have bought many things that important to me.
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    October 23, 2017, 05:20:51 AM
     #1935

    Bitcoin is an electronic currency. I think It is a Money making Machine. we are not able to use Bitcoin in our daily purpose.
    so it is not wise to say that BTC is a money. Its need to be established more and I think it is not possible that BTC will replace the place of money.
    Of course bitcoin is a money , you can use bitcoin to any transaction like pay bills, exchange into currency, online payment and many more. And also Bitcoin is big help for our expenses in our daily needs , so as for me to the my friends over there,bitcoin is money and we can use that in many ways thats why it is a money.

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    Distinctin
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    October 23, 2017, 05:24:41 AM
     #1936

    Yes i rather consider bitcoin as a real money even bitcoin is not accepted by the government, it is still can be used to pay all your expenses at your home and bitcoin has been a good advantages to me because when i started to use bitcoin i have bought many things that important to me.
    Bitcoin is money as it has its value but it cannot be a money like real money or regulated by the government, bitcoin was created with an opposite concept of a real currency because it's decentralized and the supply is limited. When it's get more popular the value will just increase and investors like that because it means money.

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    October 23, 2017, 05:27:27 AM
     #1937

    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.
    Yes there is no doubt that it’s a digital currency and it work same like other currency you can buy things and you can also pay bills and you can exchange this with other currency so bitcoin is totally currency and you can learn a lot of things here as well you can trade here also and the good thing is bitcoin is now available almost everywhere.

    I'm afraid not, because not all of the store or whatever establishments out there are accepting bitcoin right now as a payment, but there are few who are accepting bitcoin, meaning that it could really happen in the near future, as of now, all we could do is to convert our bitcoin into fiat in order to buy the things that we want and need. Bitcoin is a digital currency, correct, but if you are thinking that it is an actual "money" like fiat, then you are wrong.

    Bitcoin and fiat do have a huge difference, bitcoin is way more advantage and has a lot of usage than fiat. Bitcoin is expensive than fiat, easy to earn, and worthy to spend your time on it.

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    October 23, 2017, 05:40:48 AM
     #1938

    Bitcoin is a digital currency which plays its role of been used for trade and investment. Money is a legal tender generally accepted for buying,selling,investment and exchange in international  market. Bitcoin goes a long way in playing the characteristics of  a money , where transactions are carried out and payment is made for such transactions. Whether we see it as money or not, it is playing nothing less than the role money is playing, and what ever plays the role of what a legal tender does,  it also have the value that is accorded to money, so what do you address it as MONEY.
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    October 23, 2017, 05:45:24 AM
     #1939

    Yes  Bitcoin is a form of digital money that has  a really bright future ahead. It provides us fast and cheap online transactions. Demand for Bitcoin is increasing  among the people and one day it will be as popular as fiat money .

    Money is money, whether digital or physical, as long as you can buy things from it and it is accepted as a valid form of acceptance in exchange of things, then it is money and bitcoin of course is real money, no second thoughts on this.

    Basically indeed bitcoin is not the money, because it is bitcoin done into cyberspace and could not be issued. But there is one thing that makes a bitcoin can be a currency amount and interest is because most people who want to use the bitcoin as currency. So, bitcoin can be synchronised with the money because it would all be better off if everyone likes it and use it.


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    weblouartisan
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    Bitcoin Manager Incorporated


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    October 23, 2017, 06:02:09 AM
     #1940

    Yes  Bitcoin is a form of digital money that has  a really bright future ahead. It provides us fast and cheap online transactions. Demand for Bitcoin is increasing  among the people and one day it will be as popular as fiat money .

    Money is money, whether digital or physical, as long as you can buy things from it and it is accepted as a valid form of acceptance in exchange of things, then it is money and bitcoin of course is real money, no second thoughts on this.

    Basically indeed bitcoin is not the money, because it is bitcoin done into cyberspace and could not be issued. But there is one thing that makes a bitcoin can be a currency amount and interest is because most people who want to use the bitcoin as currency. So, bitcoin can be synchronised with the money because it would all be better off if everyone likes it and use it.

    Bitcoin is really a currency and it is depending on the person on how they were going to use it. Some of the investors become interested on bitcoins because of its value that is consistently increasing and it was good investment for your future.

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