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Author Topic: Is Bitcoin money?  (Read 110891 times)
Sanitough
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November 25, 2017, 11:26:36 AM
 #2341

The bitcoin is money, as it can be used to pay for any kind of expense and this is what money can do.
As of now, there's are only few people who are accepting bitcoin and not everything we like can be purchase with bitcoin.
We are still in the stage where people are slowly noticing bitcoin and that would not mean they will automatically adopt, there will a lot of questions in their minds and only by educating them will make them confident with using bitcoin.

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November 25, 2017, 11:27:36 AM
 #2342

Bitcoin is a digital store of value, it is not defined as "money" by the books.
But well... seems that it gives other advantages to the word money that we know Smiley
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November 25, 2017, 12:12:08 PM
 #2343

The bitcoin is money, as it can be used to pay for any kind of expense and this is what money can do.
As of now, there's are only few people who are accepting bitcoin and not everything we like can be purchase with bitcoin.
We are still in the stage where people are slowly noticing bitcoin and that would not mean they will automatically adopt, there will a lot of questions in their minds and only by educating them will make them confident with using bitcoin.
if that may be quite difficult and needs a process, as many countries also have not agreed that bitcoin exists and is used for buying and selling. so it takes a process to do that.

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November 25, 2017, 12:30:29 PM
 #2344

I think bitcoin is not money, but bitcoin can be converted into money. bitcoin is not the same as money because bitcoin there is no serial number, bitcoin is also not physical like money.
Bitcoin is qualifies as money, the characteristic is better than fiat. I think serial number of paper money will not make it non counterfeitable. It's also easy to carry and safe. Bitcoin is money, it is virtual global currency.
yes there is no doubt that bitcoin is money, although it is a digital currency and we can only use it for online purposes, but still it can fulfill our needs that we can also fulfill using our fiat currency. i am sure that in future the use of bitcoin as currency will be increasing, because the users of bitcoin are increasing from time to time and now people are showing more interest in bitcoin.
For me bitcoin can be converted to real money, thats why many people really think that bitcoin is money. I believe also on this fact that bitcoin is money, even there's no physical look like money. Bitcoin is the cryptocurrency that we can use already as a mode of payment in some online shopping. Aside from that bitcoin is capable to exchange and sell for real cash money. Bitcoin is also useable like money and bitcoin can we use to help our real life needs.
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November 25, 2017, 01:02:02 PM
 #2345

As for my side, bitcoin is money,  the "new money".

It turns out into digital money.

"A current medium of exchange in the form of coins and banknotes; coins and banknotes collectively."

Bitcoining is what we do, we exchange it into money with the use of those pawnshops and other exchange materials.
Even shits could turn into money, depends on how we perceptionize things.
Depends on how our unique minds can turn it into one.
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November 25, 2017, 06:28:44 PM
 #2346

In order for a payment instrument to be full-fledged money, it must perform the same functions as ordinary money (a measure of value, a medium of circulation, a means of accumulation, a means of payment, world money).

As can be seen, Bitcoin has all of the listed functions. It is known that like a dollar that is divided into cents, Bitcoin is divided into virtual coins (satoshi). The transfer of digital money is carried out by sending from one electronic store to another. The analog of the traditional wallet has cryptographic protection.
Yes off course bitcoin is money and you can use it your daily expanse such as you can buy food and clothes and also you can pay all your bills and now I’m using bitcoin for my tuition fees as well and in my country bitcoin is now almost acceptable in anywhere because from last five months I’m using bitcoin in different restaurants and now it’s also using in charity and in donation as well to many organizations so yes it’s a currency and very use full to use.

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November 25, 2017, 06:40:36 PM
 #2347

Yes, bitcoin is a kind of money which is going to be very popular in coming future.
Bitcoin is money for sure. It has many advantages that we all like. Specifically the convenience to buy or pay something. Its the counterpart of our fiat money. The fiat money is the physical money while bitcoin is the digital money.
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November 25, 2017, 06:47:27 PM
 #2348

Yes, bitcoin is a kind of money which is going to be very popular in coming future.
Yes exactly the Bitcoin the bitcoin is digital money the one we cannot touch or feel physically but we take all the same functions from it which tangible or physical money performs. Many of us still don’t understand when they ask about the BTC if it is money or not. Most of us consider only the physical one money.
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November 25, 2017, 08:02:14 PM
 #2349

Bitcoin money, like gold, you can not buy most goods and services, with gold, or bitcoin.

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November 25, 2017, 08:20:45 PM
 #2350

You must be joking. Even the time is money.
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November 25, 2017, 08:22:21 PM
 #2351

Definetelly YES!

Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. People buy coffee with Bitcoin at local shops. Others get paid in Bitcoin and use it to shop online. Friends use it to settle with whoever paid for dinner. Workers send Bitcoin back home to help family, regardless of where they live.

Since its start in 2009, Bitcoin has provided an alternative to traditional government-issued money. No single government, corporation, or nation controls Bitcoin. There is no need for a Bitcoin bank. People store Bitcoin in software called a wallet, which is available for almost any device.
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November 25, 2017, 08:38:24 PM
 #2352

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.

+1 agreed.  It's a commodity, a digital store of value.

Bitcoin is not just a commodity or a digital store of value but it a digital currency that serve all the purpose of other currency that one can think about like fait currency. With the above point I can say with confidence that bitcoin is a currency and at the same time a store of value.
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November 25, 2017, 08:44:10 PM
 #2353

Actually, Bitcoin can be used for payment. But actually, I think that Bitcoin is a kind of asset investment likes Stock.



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November 25, 2017, 08:56:19 PM
 #2354

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.

+1 agreed.  It's a commodity, a digital store of value.

Yes, bitcoin is money. Even now its digital money. But in near future bitcoin became official currency and anyone can used it, spend it. And also we can used it for paying bills, and buy what we want using bitcoin.
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November 25, 2017, 09:06:29 PM
 #2355

Yo la considero moneda, porque puedes intercambiarlo por un producto/servicio que quieras.
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November 25, 2017, 09:08:00 PM
 #2356

bitcoin is more then a virtual money it has value and this value change during time it can rise up or fall down its a currency its worth more then gold at elast for the meantime

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November 25, 2017, 09:54:34 PM
 #2357

I'd say, this is more than usual money, this is definitely something, which surely allows you to cooperate with most of transactions which may be locked in case you are using usual funds instead.
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November 25, 2017, 09:59:28 PM
 #2358

Bitcoin is more than just money. It is a cryptocurrency that is secured by hashing power(miners) and the network(nodes) and the developer team puts out updates to the code pubically. Money/Fiat doesn't have any of those things. It isn't secured by hashing power(it is by brute strength/military/government). Money is printed all the time and it drives down our purchasing power, whereas bitcoin becomes worth more and raises our purchasing power.


Bitcoin is a better form of money.



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November 25, 2017, 10:06:16 PM
 #2359

Bitcoin is something radically new. Nothing like Bitcoin has been possible until now.

Bitcoin = currency or crypto currency, money, commodity = True.
What ever the definition we choose, we much focus to gain profits and deserves to do it better comparing to others so bitcoin is really a BIG money.
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November 25, 2017, 11:10:23 PM
 #2360

Bitcoin is the virtual currency. It has more in common with paypal than with dollars or with gold.

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