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Author Topic: Is Bitcoin money?  (Read 101244 times)
wulidada
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November 02, 2017, 08:05:52 AM
 #2021

Bitcoin is money, because money can be converted into equivalent bitcoin, bit currency is also converted into equivalent money, a bit like gold, so bitcoin can be money. Smiley
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November 02, 2017, 08:30:41 AM
 #2022

The relationship between bitcoin and money, like the relationship between gold and money, can be exchanged for the same amount of money, although Bitcoin is not money, but the value of Bitcoin is higher than the money, because bitcoins are scarce, and gold.
Vasul17
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November 02, 2017, 08:37:06 AM
 #2023

Bitcoin is the digital capital of the future, which has already become realistic

wormgummy019
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November 02, 2017, 08:37:53 AM
 #2024

    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?






    Yes bitcoin is money. Bitcoin is a crypto currency. Bitcoin is an online money. But it can be a money in the real world. You can convert bitcoin as moneh. A dollar, peso, or other kinds of money that you want. The use of bitcoin is to buy thing in online. You can used bitcoin to buy some new things or gadgets or foods also. Some countries accept bitcoin as payment. Therefore you don't need to convert it as money.

    mevmike
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    November 02, 2017, 09:02:18 AM
     #2025

    as of now personally i wouldn't consider bitcoin as money yet.
    it is still too volatile to be called as money.
    it will be very risky to use it as a money since you don't know what could happen in its price tomorrow.
    hopefully one day it can reach that point.
    but as of now i'll just call it as asset.
    Cheesy

    adadaorlina
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    November 02, 2017, 09:37:21 AM
     #2026

    It can also be said as a money because it is used in trade, it also can be considered as asset something similar to home and land and vehicles.

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    Peppystatik
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    November 02, 2017, 09:59:10 AM
     #2027

    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?
    But gold is money as well, maybe people do not use it like that anymore but that is not important gold was used as money for a lot longer than any fiat currency and if people do not adopt bitcoin then it is very likely that gold makes a huge comeback when the fiat system collapses.
    Gold is not money, it is an asset and you can convert it to money. Money is FIAT, Gold has value but you can not call it is money. Money can use to payment but we can not use Gold to that. Therefore, you need to know the difference between FIAT and asset.
    yes gold is an asset that is now starting to decline demand because of the bitcoin
    and gold must be exchanged with money first so it can be used in terms of purchase transactions
    I agree with you gold is an asset but bitcoin is money too and i think this is more money to us that in real life money because some people almost made this their daily job and are earning a lot from it.
    skarais
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    November 02, 2017, 10:09:42 AM
     #2028

    In my opinion,bitcoin is a decentralized digital currency developed in 2009.
    bitcoin is not a banknote or coin but bitcoin is money,digital money.
    bitcoin can be sent to anyone,wherever and whenever you want to send it.
    Maybe this currency will be very popular in the future to come because since the first time bitcoin appears, bitcoin has grown rapidly.

    Cuqelemyr
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    November 02, 2017, 10:12:20 AM
     #2029

    Bitcoin is a online crypto currency witch you should see the same as gold. Because with gold you can't really buy things. But with bitcoin you can buy some things online just like gold. But bitcoin is just not that popular yet to use it as a form of paying method.
    teejayrichard2
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    November 02, 2017, 08:20:06 PM
     #2030

    Bitcoin is money. It is used for all forms of transaction and exchange.
    phuclzu12
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    November 02, 2017, 09:56:45 PM
     #2031

    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?
    But gold is money as well, maybe people do not use it like that anymore but that is not important gold was used as money for a lot longer than any fiat currency and if people do not adopt bitcoin then it is very likely that gold makes a huge comeback when the fiat system collapses.
    Gold is not money, it is an asset and you can convert it to money. Money is FIAT, Gold has value but you can not call it is money. Money can use to payment but we can not use Gold to that. Therefore, you need to know the difference between FIAT and asset.
    yes gold is an asset that is now starting to decline demand because of the bitcoin
    and gold must be exchanged with money first so it can be used in terms of purchase transactions
    I agree with you gold is an asset but bitcoin is money too and i think this is more money to us that in real life money because some people almost made this their daily job and are earning a lot from it.
    It not important, I do not care the Bitcoin can helps me make money or not, because most of my salary are from the altcoin communtiy, it is not from Bitcoin. However, Gold can helps me have a saving money for long term without any risk.

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    Barbarian
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    November 03, 2017, 09:39:39 PM
     #2032

    It depends on the perspective of a person on how he/she looks at the use of bitcoins. I am working on bounty campaigns and i take at as a sideline as the value of bitcoins is increasing consistently there is no doubt that everyone will be attracted and start to invest.
    I disagree there is a very clear definition of what can be money and why it needs to become money and bitcoin fits all the characteristic needed to become money so no matter how much people may try to deny the fact that bitcoin is money, bitcoin is money whether they like it or not.

    bitcoinsocial09
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    November 03, 2017, 09:49:01 PM
     #2033

      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?





      Yes, bitcoin is a money and it is a type of an online crypto currency. And people should see bitcoin the same as what gold is. Because just like bitcoin, people can't really buy things with it and people still have to convert it into a real physical money. But with bitcoin you can buy some things online just like gold.

      ▬▬▬ ▰ ▰ ▰ ▰ ▰ ▰ E i d o o ▬ your blockchain asset experience ▰ ▰ ▰ ▰ ▰ ▰ ▬▬▬
      ▬▬▬▬▬▬▬▬▬ " Token Sale Raised 82,372.33 ETH " ▬▬▬▬▬▬▬▬▬
      ▬▬▬ ▰ ▰ ▰ ▰ ▰ ▰ TwitterFacebook  ▰ BountyDiscussion ▰ ▰ ▰ ▰ ▰ ▰ ▬▬▬
      Khristian
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      November 03, 2017, 11:51:28 PM
       #2034

      if bitcoin is.money for me is yes a kind of money that can be paid For businesses that accept bitcoin bitcoin is a big amount of money bitcoin is just like a gold almost same price is just two of it so it's a bit hard to earn so I get bitcoin i cash out it into money.p1

      condor1
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      November 03, 2017, 11:53:37 PM
       #2035

      For me it's money, currency, just like dollar, euro etc. It's used to trade, the only difference is that it's not physical.

      Maricel2017
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      November 04, 2017, 12:57:18 AM
       #2036

      if bitcoin is.money for me is yes a kind of money that can be paid For businesses that accept bitcoin bitcoin is a big amount of money bitcoin is just like a gold almost same price is just two of it so it's a bit hard to earn so I get bitcoin i cash out it into money.p1
      Yes bitcoin sounds like money the difference is that bitcoin is a digital currency but we can convert it into real money if we want.

      nocturnalsheet
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      November 04, 2017, 12:58:12 AM
       #2037

      it is not money for sure but you can change it to money  Cool
      Dod Ong
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      November 04, 2017, 01:12:30 AM
       #2038

        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?







        For me, the bitcoin is money. Why? because the bitcoin helps me to earned money by posting and the money I earned in bitcoin I keep it and gave it to my family to help them in their daily expenses or daily needs. I used bitcoin not also in earning money also I used bitcoin to buy my needs like foods, shirts and my tuition. I coincide my studies and my bitcoin. I have a time in studying my lessons and I have time in posting here in bitcoin. 

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        November 04, 2017, 01:16:28 AM
         #2039

        Because of its deflationary nature I think Bitcoin is actually more "money" than any currency on the planet right now.  Gold is the only worthy comparison, but because of the difficulties inherent in using/transporting/ exchanging gold it doesn't even come close
        Aming amirudin
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        November 04, 2017, 01:31:44 AM
         #2040

        I think bitcoin is part of the money itself tpi in different form
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