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Author Topic: Is Bitcoin money?  (Read 110493 times)
luigidosado
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November 14, 2017, 03:09:08 AM
 #2201

Definitely not. Defining money, they are far different from each other. But they are somewhat related with each other. Money is a physical thing that we use as a medium of exchange when we buy things. While bitcoin, is a source of money. Bitcoin has an equivalent value that can be exchanged for money.

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November 14, 2017, 03:19:18 AM
 #2202

I believe and consider that this bitcoin is a new kind of money. Digital currency and physical money are both of this are means of exchange, yet they have different nature. Bitcoin users use it buying, investing and trading just like also in a physical money. Both of them you can put to a wallet and secure them so that it will not be stolen so both of them have the same use but different characteristics.

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November 14, 2017, 03:20:51 AM
 #2203

Yes bitcoin is money we get to work hard to earn bitcoin and exchange it to our local currency and use it to support our daily needs. It is a digital money but can be converted into our real money to be used in anyway we want.
You can still work even if it's not bitcoin as the mode of payment, there is no difference if you agreed a specific amount as your salary.
Bitcoin is substitute for money but it cannot be spend alone without being converted to fiat as that will always be the end process.


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November 14, 2017, 03:27:03 AM
 #2204

Bingo!
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November 14, 2017, 03:29:44 AM
 #2205

yes it is. it is a virtual money, digital money. bitcoin is a worldwide cryptocurrency.

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November 14, 2017, 03:40:26 AM
 #2206

Bitcoin is virtual money. It is digital money. It is so popular money. In online marketing it has high price in market.
It is better than any other paper money.

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November 14, 2017, 04:42:16 AM
 #2207

As I understand, bitcoin is a virtual currency. it's still money to be called, but its local currency variance is fair, whereas bitcoin is a digital money.

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November 14, 2017, 04:49:24 AM
 #2208

as I think bitcoin is a digital money..
it is better than money..
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November 14, 2017, 08:29:55 AM
 #2209

Bitcoin can consider as a digital money. It can convert to a real money. Which is we can use it to buy what we want and can sustain our daily needs. Bitcoin is so popular in online world and it has a high price in online marketing. This is our source of income that has an equivalent exchanged of money.

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November 14, 2017, 08:32:04 AM
 #2210

Anything can be considered "money" if it has intrinsic value!  What gives something value.... what people are willing to pay for it.. Supply and demand.
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November 14, 2017, 08:34:57 AM
 #2211

    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?





    Of course yes bitcoin is money we all know that this is a digital currency but if you convert it into real money  it will called money because you can use this to buy anything  .

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    amwer
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    November 14, 2017, 08:41:32 AM
     #2212

    Bitcoin is like money. Bitcoin is compared to the tone. All the money is made in betting. Money is available when selling bitcoin.

    rafajunior99
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    November 14, 2017, 09:34:47 AM
     #2213

    Maybe everyone already knows that Bitcoin is a digital currency, because Bitcoin can shop online and also buy electric tokens and more. Maybe Bitcoin will one day become a world currency that makes everyone easy.
    VasilyBelogla
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    November 14, 2017, 09:57:47 AM
     #2214

    Its actually online money. It is not the money you have like in banks and in your pocket. Everything with bitcoin is online so if you do not have internet you would not access them.

    It is money, but its not like our currency's because its different.
    syarifudin
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    November 14, 2017, 02:18:29 PM
     #2215

    This bitcoin money is not in the form of money coins or paper,but money Bitcoin is true there is in the internet world.
    Bitcoin is the digital currency,heard the word digital certainly does not exist in the real world but we can see it and true money Bitcoin is in the digital world (internet).
    and I think this Bitcoin money will be very popular in the future because of its technology-based system and In the future rich will be many people who have technology so will many people who use Bitcoin.


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    November 14, 2017, 02:29:40 PM
     #2216

    Bitcoin is already called "money" and it is already a money, Almost all over the world bitcoin is already used as money and can be traded for cash and can be used to pay people for their tasks done like doing campaigns.  Smiley

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    November 14, 2017, 02:36:21 PM
     #2217

      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 it is, bitcoin is money because you can spend it. People accept things and can buy things through money. Bitcoin is one of their uses have those things so bitcoin is one of the kind of money that people can use.





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      November 14, 2017, 02:38:12 PM
       #2218

      bitcoin like money, but this is for the cryptocurrency
      not all country accepted bitcoin for the payment, we hope someday bitcoin for the payment in the world.

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      November 14, 2017, 03:10:11 PM
       #2219

      yes right, I think bitcoin is the same as money, what can be bought with money also can we replace with bitcoin. but bitcoin value is better than fiat because bitcoin stock can not be manipulated.

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      November 14, 2017, 03:21:21 PM
       #2220

      yes right, I think bitcoin is the same as money, what can be bought with money also can we replace with bitcoin. but bitcoin value is better than fiat because bitcoin stock can not be manipulated.
      yes off course bitcoin is a crypto currency and it is easily converted to any other currency if you want. Bitcoin is not acceptable directly in most areas still but you can convert bitcoin to your desire currency through some local exchanges and can used easily and also it is more possible that in future bitcoin will start accepted in various shops and hotels etc.
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