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Author Topic: Is Bitcoin money?  (Read 110493 times)
dusty rhodes
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November 09, 2017, 08:11:25 AM
 #2121

its really versatile instrument. this is all uncharted waters. its different things to different people.
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Ismat Jahan
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November 09, 2017, 08:28:10 AM
 #2122

Yes.Bitcoin is online money.Adding businesses and such that acceptbitcoin directly helps it' s exchange value as well.people earn money easily and safely.
crzy
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November 09, 2017, 08:30:59 AM
 #2123

Its a new form of money and i think its more important than money itself and soon it will hit 100k$ worth

Well I consider bitcoin as money that I can use online and also to earn money. It's a crypto asset that you should value because this thing can generate income for you specially in the long term. Cryptocurrency is clearly our future so watch out for this technology.
Jannatul Shefa
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November 09, 2017, 08:39:28 AM
 #2124

My personal opinion is that bitcoin is money. Because you can use it like money.That means it has all functions that money have.So in that sense it's money.
But in other sense it's not like paper money.Although it's a virtual currency.

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trungnhatnguyen06
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November 09, 2017, 08:42:20 AM
 #2125

of course, it is money. It can be used to buy or sell goods  Smiley
Phebz
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November 09, 2017, 08:42:45 AM
 #2126

Yes bitcoin is money..
Anything use as a mode of payment is money..
So bitcoin is used as payment then bitcoin is money.
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November 09, 2017, 08:44:01 AM
 #2127

Bitcoin is more than money. It is virtual gold
Delarock
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November 09, 2017, 08:44:59 AM
 #2128

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins
maihoangminh1808
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November 09, 2017, 08:45:29 AM
 #2129

According to the Vietnam State Bank, virtual money is considered management in three aspects: currency, means of payment; virtual property; (when put into exchange, transfer, purchase, sale ...).

In terms of money or means of payment, through research, the State Bank of Viet Nam said that most countries do not accept virtual currency as currency or means of payment, for two reasons. main.

Firstly, if it is accepted as a currency, as a legal means of payment, the national sovereignty over the issuance of currency is violated, affecting the effectiveness of monetary policy (the virtual currency is out of scope. management, regulation of the central bank).

Secondly, virtual money is accepted that will facilitate tax evasion, illegal transfer, payment, financing of illegal transactions because virtual currency payments are anonymous, without sign. patch.
OrangeII
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November 09, 2017, 08:48:19 AM
 #2130

well, it can be said that way. You can buy something with bitcoin. even now you can easily find many stores that accept bitcoin. but, you'd better use bitcoin as an investment tool, because so many people do that.

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zcs
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November 09, 2017, 08:55:44 AM
 #2131

Bitcoin is not a money. It is coomodity. that is Gold,silver, platinum etc . We use bitcoin only for trading. We invest our money to purhase the bitcoin . We store it in our wallet as a digital currency.
ranggawulung
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November 09, 2017, 09:05:53 AM
 #2132


At first glance, you can not call bitcoin real money, because you can not keep it in your hands, you can not buy most things for them. But this is all temporary. It is worthwhile only to visit the site-monitoring of exchangers and ATMs of bitcoins and it will immediately become clear how many of them are already in America and Europe.
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November 09, 2017, 09:12:55 AM
 #2133

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.
Same thing goes for me if you can feed on it i would consider it money it actually is money if you have invested in it and if you are trying to earn it it also is money because if you cash them out and spend it you actually made money.
brainape
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November 09, 2017, 09:39:58 AM
 #2134

It will be a new form of money, Bitcoin has a value that you can exchange to become a money to spend for. and I think in future Bitcoin will considered also as a legit money that you can pay in stores and others.
yes you are right that bitcoin is like a new form of money but bitcoin is not money it is basically digital cryptocurrency and there is a huge difference between money and digital currency. people use bitcoin to earn money thats why bitcoin work like money.

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CoinFlippo
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November 09, 2017, 09:42:08 AM
 #2135

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.
Same thing goes for me if you can feed on it i would consider it money it actually is money if you have invested in it and if you are trying to earn it it also is money because if you cash them out and spend it you actually made money.
True i made bitcoin my daily job that means i earn actually from bitcoin my salary is all paid in bitcoins and salary is money because with my salary i can buy stuff that i need to life like food clothes and even pay my rent with that money.
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November 09, 2017, 09:42:40 AM
 #2136

I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.


Just as how you said it, bitcoin is a new kind of monet. Bitcoin is also considered resources that has it's value. This is well used by people who knows bitcoin around the world. It has lots of potential to be trade off, invest and save for future use. Same as the fiat money, this has a value that this digital world considers. Digital currency should we say, bitcoin has it's unique function and use.

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November 09, 2017, 09:47:04 AM
 #2137

Bitcoin is a cryptocurrency. A lot of cryptocurrency are now emerging and the originals are bitcoin. One of the best is Ethereum! Let me add that the Propthereum ICO crowdsale will run off a decentralized Smart Contract that runs on the Ethereum Blockchain. It is secured with a 256-bit encryption which makes it secure and reliable. Propthereum Tokens will be minted as PTCs. These coins are a digital representation tracking
the funding of our ICO and crowdsale. The pre-ICO token sale will take place on November 10, 2017 at 12PM GMT. You may check this link for more information: www.propthereum.io
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November 09, 2017, 09:52:54 AM
 #2138

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.
Same thing goes for me if you can feed on it i would consider it money it actually is money if you have invested in it and if you are trying to earn it it also is money because if you cash them out and spend it you actually made money.
Bitcoin is money because you can buy a lot of things with it just like you can with cash money. So i think that bitcoin will stay high in value because there are a lot of things you can do with it.
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November 09, 2017, 09:53:12 AM
 #2139


    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.


    I tend to think that Bitcoin IS a money, in the more common and usual sense, in the sense of the wikipedia definition.
    According to the Webster's definition that gives the OP, it doesn't fill the 3d and 4th requirement to be considered as a money. But is it still relevant in the contemporary economic scheme, and after the digital revolution?  
    Jeremy-Whites
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    November 09, 2017, 09:53:50 AM
     #2140

     Cool In the sense of regular old currency not. It is more like a hyper liquid commodity which has great trade potential. Its sheer value comes from the demand. Very interesting one may consider but we very well know, that the financial system needs a change from the loan economics we have. I think bitcoin should be more accessible to people who lack computer knowledge, what I mean is that ATMs are an awesome way for those old generation people who feel venturous but lack the knowledge to step in. Kudos to companies doing just that.  Cool
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