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Author Topic: Is Bitcoin money?  (Read 107612 times)
shine1123
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March 17, 2017, 11:39:08 AM
 #221

The answer is yes. Because, you can use bitcoin for buying or selling something same like money. The only different is money is using in real life and bitcoin is used for online things. But it's still same though. Maybe someday all people around the world will accept bitcoin in real life and become money too.
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March 17, 2017, 11:42:08 AM
 #222

Maybe someday all people around the world will accept bitcoin in real life and become money too.

I don't think it's going to happen as one of bitcoin's strongest features is its anonymity.
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March 17, 2017, 12:30:36 PM
 #223

Maybe someday all people around the world will accept bitcoin in real life and become money too.

I don't think it's going to happen as one of bitcoin's strongest features is its anonymity.
That kind of feature can be sacrificed in order to get those adoption of other people in the world because we don't need anonymity if bitcoin will be used by everyone. Marked my words, I think after 10 years bitcoin will be strong enough and it is already accepted in different stores near you and there is a lot of bitcoin users you may encounter in malls or any public place.

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March 17, 2017, 09:36:38 PM
 #224

Yes of course bitcoin is a money, it has a price, a value, we can buy stuff with it even if it's complicated so yes it's a money.

Gold is a really good example to compare with bitcoin because it has a value that is big, and so it's expensive and very rare. Some people will say it is just a rock and we can't go to the supermarket and buy our cereals with gold but people don't understand that the advantage of these money is that you their value change everytime so when you will sell it to get the money of your country, you will wait the good time to sell it because it can give you a higher amount of money, it depends of days.

So yes bitcoin is also a money,  but a virtual money that you can convert in other money.
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March 18, 2017, 04:28:28 AM
 #225

Yes of course bitcoin is a money, it has a price, a value, we can buy stuff with it even if it's complicated so yes it's a money.

Gold is a really good example to compare with bitcoin because it has a value that is big, and so it's expensive and very rare. Some people will say it is just a rock and we can't go to the supermarket and buy our cereals with gold but people don't understand that the advantage of these money is that you their value change everytime so when you will sell it to get the money of your country, you will wait the good time to sell it because it can give you a higher amount of money, it depends of days.

So yes bitcoin is also a money,  but a virtual money that you can convert in other money.
I would call bitcoin money, purely nominally. The fact is that when buying a thing with the help of bitcoin, the user thereby does not purchase, but exchanges the goods. The fact is that every commodity is measured in value by a certain currency, and for today it is still a dollar, and bitcoin is only a commodity with which you can earn a dollar.
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March 18, 2017, 04:34:02 AM
 #226

Using the definition of money as something we use to buy and sell then probably Bitcoin can be considered as a form of money. However, Bitcoin goes beyond that aspect as we all know. Just like gold, it can be considered as an investment. Whatever we define Bitcoin, the most important thing is that it is an asset that can rise and fall depending on many aspects converging on the market. And this market is controlled by China (lol...can this be true?).

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March 18, 2017, 04:40:46 AM
 #227

Maybe someday all people around the world will accept bitcoin in real life and become money too.

I don't think it's going to happen as one of bitcoin's strongest features is its anonymity.

I cannot see the reason why people will not accept Bitcoin being anonymous.  As far as I can see it is a good feature so that you will be safe from those people who have bad intention and steal your wealth.  People who do not have much money does not know how anonymity is helpful to keep them safe and hide them from thieves and robbers.  So  with anonymity I think Bitcoin is more likely to be accepted.

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March 18, 2017, 04:47:10 AM
 #228

Yes of course bitcoin is a money, it has a price, a value, we can buy stuff with it even if it's complicated so yes it's a money.

Gold is a really good example to compare with bitcoin because it has a value that is big, and so it's expensive and very rare. Some people will say it is just a rock and we can't go to the supermarket and buy our cereals with gold but people don't understand that the advantage of these money is that you their value change everytime so when you will sell it to get the money of your country, you will wait the good time to sell it because it can give you a higher amount of money, it depends of days.

So yes bitcoin is also a money,  but a virtual money that you can convert in other money.
I would call bitcoin money, purely nominally. The fact is that when buying a thing with the help of bitcoin, the user thereby does not purchase, but exchanges the goods. The fact is that every commodity is measured in value by a certain currency, and for today it is still a dollar, and bitcoin is only a commodity with which you can earn a dollar.

Based on the definition of money is a medium of exchange or a standard measure of value (unity count) are legitimate, which can be used for buying and selling activities, trade, and that money was recognized by the general public.

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March 18, 2017, 05:12:55 AM
 #229

Maybe someday all people around the world will accept bitcoin in real life and become money too.

I don't think it's going to happen as one of bitcoin's strongest features is its anonymity.

I cannot see the reason why people will not accept Bitcoin being anonymous.  As far as I can see it is a good feature so that you will be safe from those people who have bad intention and steal your wealth.  People who do not have much money does not know how anonymity is helpful to keep them safe and hide them from thieves and robbers.  So  with anonymity I think Bitcoin is more likely to be accepted.
It may not be accepted by other people since it wasn't yet consider or supported by the governments. As far as the governments approved bitcoin to be used as major currency, its market would certainly gies up and many bitcoin holder would profit as the demand would increase. In terms of its service and anonymity, it's an additonal feautres that would certainly encourage governments and huge inverstors to use it as major currency.

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March 18, 2017, 05:32:15 AM
 #230

Lots of countries now are using bitcoin as a medium of exchange for buying/selling. There are lot of businesses now in some countries is now accepting bitcoin as payment.

And bitcoin is a digital money that can be converted into fiat.
So, in short bitcoin is money.
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March 18, 2017, 05:56:13 AM
 #231

Wow, this is a serious necro thread. There's been an ocean of water under the bridge since September 2010. At this point I think it's safe to start a new thread.

Bitcoin has been used as both a commodity, currency and money and it can and has performed all in the past seven years (but works best as a commodity).

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March 18, 2017, 06:18:12 AM
 #232

Lots of countries now are using bitcoin as a medium of exchange for buying/selling. There are lot of businesses now in some countries is now accepting bitcoin as payment.

And bitcoin is a digital money that can be converted into fiat.
So, in short bitcoin is money.

although there is many country is using bitcoin but the government still not accepting bitcoin as commodity or else and only bitcoin user is using bitcoin for many purpose. but i am agree that bitcoin is digital money because until now, we can see the most place that has been using bitcoin is only in internet so we are hard to find local store that will accepting bitcoin as the payment. and i am say yes that bitcoin is money in internet.

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March 18, 2017, 06:33:11 AM
 #233

I consider bitcoin as money because it helps me to make real money online. Bitcoin is a currency and currency is a money and one more thing it is also stores in a wallet. I know it is not yet controlled or regulated by the government but I have my own understanding.


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March 18, 2017, 12:51:05 PM
 #234

I consider bitcoin as money because it helps me to make real money online. Bitcoin is a currency and currency is a money and one more thing it is also stores in a wallet. I know it is not yet controlled or regulated by the government but I have my own understanding.

That's the spirit, I really think that way too and anything that can buy me a pair of socks is considered to be one! well In my opinion bitcoin and money have similarities the only thing that are very Unsimilar is bitcoin is decentralize and needs online wallet to be stored and you need to convert your bitcoin with fiat, but that similarity was also include in fiat when you are in other countries you need to exchange your money with the currency need on that particular country that is why bitcoin is also and can be called money!

       


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March 18, 2017, 01:00:33 PM
 #235

What is real money mean ? for me if i can buy someting and if i can investment and if i can exchange it  or if i can barrow if i spent it and it is mean this is real money mean and i can do what i said with bitcoin so i can say bitcoin is real money but there is a one problem with bitcoin , Bitcoin is not legal money and many countries dont except it like real money.

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March 18, 2017, 01:17:46 PM
 #236

What is real money mean ? for me if i can buy someting and if i can investment and if i can exchange it  or if i can barrow if i spent it and it is mean this is real money mean and i can do what i said with bitcoin so i can say bitcoin is real money but there is a one problem with bitcoin , Bitcoin is not legal money and many countries dont except it like real money.
I agree with you . today bitcoin can be used like other real money. but we still have to fight the law governing bitcoin. basically we all expect bitcoin can be clearly recognized by the world.

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March 18, 2017, 01:43:59 PM
 #237

What is real money mean ? for me if i can buy someting and if i can investment and if i can exchange it  or if i can barrow if i spent it and it is mean this is real money mean and i can do what i said with bitcoin so i can say bitcoin is real money but there is a one problem with bitcoin , Bitcoin is not legal money and many countries dont except it like real money.
I agree with you . today bitcoin can be used like other real money. but we still have to fight the law governing bitcoin. basically we all expect bitcoin can be clearly recognized by the world.
Bitcoin can be used same us our traditional currency. The volatility is the major factor on which merchants show hesitation to accept bitcoin. Because of this the usage as currency is found low. Even now the volatility is experienced much causing a big variation of price around $100 and more.

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carlfebz2
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March 18, 2017, 01:46:53 PM
 #238

What is real money mean ? for me if i can buy someting and if i can investment and if i can exchange it  or if i can barrow if i spent it and it is mean this is real money mean and i can do what i said with bitcoin so i can say bitcoin is real money but there is a one problem with bitcoin , Bitcoin is not legal money and many countries dont except it like real money.
I agree with you . today bitcoin can be used like other real money. but we still have to fight the law governing bitcoin. basically we all expect bitcoin can be clearly recognized by the world.
Bitcoin can be used same us our traditional currency. The volatility is the major factor on which merchants show hesitation to accept bitcoin. Because of this the usage as currency is found low. Even now the volatility is experienced much causing a big variation of price around $100 and more.
Volatility of prices is the main reason why merchants dont really like to accept bitcoin on their businesses because of this problem and we all know they wont allow they would get negative profits when price of bitcoin fluctuates but speaking on other thing bitcoin is indeed considered as money at all.



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Jasad
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Any store can buy, sell, and accept Crypto


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March 18, 2017, 01:55:55 PM
 #239

What is real money mean ? for me if i can buy someting and if i can investment and if i can exchange it  or if i can barrow if i spent it and it is mean this is real money mean and i can do what i said with bitcoin so i can say bitcoin is real money but there is a one problem with bitcoin , Bitcoin is not legal money and many countries dont except it like real money.
I agree with you . today bitcoin can be used like other real money. but we still have to fight the law governing bitcoin. basically we all expect bitcoin can be clearly recognized by the world.
Bitcoin can be used same us our traditional currency. The volatility is the major factor on which merchants show hesitation to accept bitcoin. Because of this the usage as currency is found low. Even now the volatility is experienced much causing a big variation of price around $100 and more.
Volatility of prices is the main reason why merchants dont really like to accept bitcoin on their businesses because of this problem and we all know they wont allow they would get negative profits when price of bitcoin fluctuates but speaking on other thing bitcoin is indeed considered as money at all.
that was not the real problem why a lot of merchant ignored bitcoin ,
the main problem is when the confirmation sometimes take too long time ,
and it is make them concern ,
common issue indeed but it is important to noticed.

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March 18, 2017, 01:58:15 PM
 #240

Anything that can be used to buy and sell transactions certainly we can equate with money, bitcoin is money because a lot and be accepted to buy anything and many people collect it.

very precisely. Because money is a tool used to change something with the product, goods or services we want. So if there is something that can be exchanged by the service, product, and then it can be equated with money, so bitcoin is money and every money has its benefits. Bitcoin is a currency which is very superior in all respects, so that lucky those that use and believe in the bitcoin.Much better investment if you want to get an advantage in the bitcoin
 
 


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