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Author Topic: Is Bitcoin money?  (Read 108225 times)
danielcansil
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November 06, 2017, 02:25:43 PM
 #2081

bitcoin is money, because we can use it for every transactions in life such as: pay taxes, buying equipments and foods. moreover bitcoin is be used for investments and trading on the cryptocurrency market that bring us the profit.

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November 06, 2017, 02:28:34 PM
 #2082

bitcoin is money, because we can use it for every transactions in life such as: pay taxes, buying equipments and foods. moreover bitcoin is be used for investments and trading on the cryptocurrency market that bring us the profit.

actually the use of bitcoin is indeed a lot, live we want to gunain how.
we are free, willing to pay tax to pay, pay installment and others also can.

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November 06, 2017, 06:14:50 PM
 #2083

No, Bitcoin is really a forex utilized into electronic globe as repayment towards the digital or on the internet services. But you can transformed it right into a real money, using the other banks that take bitcoin as currency.
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November 06, 2017, 06:21:00 PM
 #2084

No, Bitcoin is really a forex utilized into electronic globe as repayment towards the digital or on the internet services. But you can transformed it right into a real money, using the other banks that take bitcoin as currency.
Bitcoin can be put in the same category as gold because it can be used as a currency just as it is an investment asset.  In this scenario I think it's very appropriate to consider bitcoin as money.



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November 06, 2017, 06:40:39 PM
 #2085

BTC is alternative money that is tax-free if people want it to be. It is base on cryptography and its main structure is based on digital programs. People who don't call it money are not yet appointed with this crypto as they need to be.

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November 06, 2017, 08:28:57 PM
 #2086

It's money.  If not, you are able to provide your bitcoin to me. 
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November 06, 2017, 08:48:00 PM
 #2087

It's the future of currency! In 50 years everything is going to be in crypto. Even the bank slowly start to change their policies
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November 06, 2017, 09:09:06 PM
 #2088

No, Bitcoin is really a forex utilized into electronic globe as repayment towards the digital or on the internet services. But you can transformed it right into a real money, using the other banks that take bitcoin as currency.
Bitcoin can be put in the same category as gold because it can be used as a currency just as it is an investment asset.  In this scenario I think it's very appropriate to consider bitcoin as money.
No, Gold can not use as a currency. As far as I know, I do not remember any country accept Gold as a payment method to pay anything like FIAT. Bitcoin is also like that, it can not uses for payment normal, therefore if someone wants to use Bitcoin as a payment method like FIAT, they will break the law, unless Japan accepted Bitcoin as a payment method and currency.

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November 06, 2017, 09:28:41 PM
 #2089

    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?






    In a sense, yes it is
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    November 06, 2017, 10:02:47 PM
     #2090

    Bitcoin is crypto currency internet money which you can see only online on internet and not like thing which you can touch.
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    November 06, 2017, 10:13:01 PM
     #2091

    Bitcoin is a digital currency where everyone does not know and bitcoin is not of any shape. and very different in comparison to real money where everyone can hold it, there may be similarities from my point of view, where everybody should really keep both. in because bitcoin and real money are equally at risk for the holder, only real money is visible, unlike bitcoin just as a digital currency.

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    November 06, 2017, 10:16:43 PM
     #2092

    It's money alright. It can also be a commodity if you want, but generally speaking that might confuse newcomers that you want to introduce to bitcoin. While not all major services allow payment with bitcoin it is still money and you shouldn't worry about calling it that when you're explaining it to people. PayPal might be a good indicator if you don't believe you know the correct terms to explain it. If they allow payment with is, then it is a very good example to convince people it's not a dangerous thing.

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    November 07, 2017, 05:59:05 AM
     #2093

    Money performs many functions. They are utilised not only as payment. For regular individuals, they're considered only as payment. For that economy of the country - it is really an important device. Bitcoin doesn't have the capabilities of supporting the economic climate. Therefore, it cannot be called full-fledged money meaning that is available now
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    November 07, 2017, 07:26:55 PM
     #2094

    There is no guarantee that Bitcoin will conquer all the drama and succeed in the long run, but if there is something I'm able to say without a doubt, it is that Bitcoin is more money than any other form of cash I've ever observed.



    My opinion would be like this, bitcoin is money for it allowing  online users to processes money transactions. A scare commodity used as money by millions around the world. It is the commodity of money without a gold and a fiat.


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    MFY151
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    November 07, 2017, 08:09:39 PM
     #2095

    Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
    I agreed on this matter, as long as bitcoin being used as payment in online it is considered as money like usd, euro and ¥ which means it shows bitcoin is like a real currency/money.

    The only difference is that we cannot hold bitcoins physically and apart from that there is not much difference between bitcoins and real money as we can spend it anywhere we want like real money so bitcoin is definitely a money to me.

    Correct, as long as I can use it even on a daily basis and trade anywhere and anytime in the world then I will also consider bitcoin as money or even better than money. The only thing I could think about money's advantage about bitcoin is acceptability though bitcoin is not legalize in our country we can still easily exchange it to our currency and use it like just an ordinary money. I also feel much safer in bitcoins than carrying bulky wallets or atm cards that always an eye catcher for thieves.

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    Thunderlizard
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    November 07, 2017, 08:23:55 PM
     #2096

    Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
    I agreed on this matter, as long as bitcoin being used as payment in online it is considered as money like usd, euro and ¥ which means it shows bitcoin is like a real currency/money.

    The only difference is that we cannot hold bitcoins physically and apart from that there is not much difference between bitcoins and real money as we can spend it anywhere we want like real money so bitcoin is definitely a money to me.

    Correct, as long as I can use it even on a daily basis and trade anywhere and anytime in the world then I will also consider bitcoin as money or even better than money. The only thing I could think about money's advantage about bitcoin is acceptability though bitcoin is not legalize in our country we can still easily exchange it to our currency and use it like just an ordinary money. I also feel much safer in bitcoins than carrying bulky wallets or atm cards that always an eye catcher for thieves.
    I agree with you as long as i can feed off it daily it is money for me and also the part about thieves is also correct how are thieves able to steal your bitcoins? unless you know everything in your head there is no chance they would be able to get in your online wallet.
    otandelapaz
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    November 07, 2017, 08:49:09 PM
     #2097

    Bitcoin is money.  If bitcoin or crypto currency is already existing when those "definitions" where made, I think the writer would have included it.

    Holla123
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    November 07, 2017, 08:57:45 PM
     #2098

    It is not only money it is the better money. With all the good use cases for online ticketing, energy trading, tokenization of assets, proof of identity and so on the main thing is that crypto is superior to fiat money (meanwhile goes for all fiat currencies) and seemingly to gold as store for value.

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    Oo ako to
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    November 08, 2017, 03:31:22 AM
     #2099

    That's why it is called "digital currency'' because it is a money that is in the digital form. Some maybe would argue that it's more like an asset but nevertheless, it is still used to buy goods or anything or pay any services. So even they made an argument about it, it is still money.
    Genosx
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    November 08, 2017, 04:50:00 AM
     #2100

    Bitcoin has a value or amount so I think Bitcoin is a money.

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