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Author Topic: Is Bitcoin money?  (Read 101048 times)
Reid
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March 18, 2017, 02:04:42 PM
 #241

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
 
 

Yes. They made money to make the rrades easier and faster so everything that can be traded is supposed to be money.
I think before there is hard time on how to equal things with poultry trades or vegetables so they made gold coins to make it convenient.
So if bitcoin does that it is almost the same with those gold coins or now we call money.
And i bought it with fiat so there is a value for it right?

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March 18, 2017, 02:46:01 PM
 #242

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience
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March 26, 2017, 03:03:12 AM
 #243

Yes i consider bitcoin the new money because we can now buy things using bitcoin just like a real money. Bitcoin has been a big help to people who have been using bitcoin. Maybe bitcoin can be the future money.

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March 26, 2017, 03:49:20 AM
 #244

For me bitcoins are real money because I have ATM's here and I can easily buy some bitcoins and sell them too.
Added to this they give me freedom because i don't have to worry about ID proofs being asked by wallets like paypal and others.
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March 26, 2017, 07:13:49 AM
 #245

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience
although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol
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March 26, 2017, 09:22:17 AM
 #246

Yes i consider bitcoin the new money because we can now buy things using bitcoin just like a real money. Bitcoin has been a big help to people who have been using bitcoin. Maybe bitcoin can be the future money.
I also consider that bitcoin is money because like money, bitcoin is using for transaction. Bitcoin can be used for their daily expenses. Bitcoin is a form of money that can be used in online. As long as bitcoin has a value and can be used in any transaction, you can called it as a money.

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March 26, 2017, 09:30:25 AM
 #247

This thing is a common sense for us because if bitcoin can be a source of fiat cash, well it can be considered a money. Because if that option we made it as a source of our needs also in a particular needs that we are spending cash for. Everytime we spent a cash money using paper type of money exchange, it helped us through the desperated days of our lives specially when we urgently need that money for our daily living.

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March 26, 2017, 09:34:33 AM
 #248

I think we have our own opinions and explanations about this topic, and we must respect such opinion and explanation. I think I will just describe bitcoin as I use it, so for me, bitcoin is not a money, it is an asset I use to earn fiat money. I earn bitcoin from signature campaign and bounties. I cant really buy things with bitcoin because here in our country, bitcoin is not a that popular and not accepted mostly by stores.



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March 26, 2017, 09:45:57 AM
 #249

I think bitcoin/blockchain is some sort of "distributed time and ordering system" ... I don't know maybe like Lamport timestamps  Huh ( https://en.wikipedia.org/wiki/Lamport_timestamps ) ...

I even don't know where 2 hours gap came from ...

Quote
Each block contains a Unix time timestamp. In addition to serving as a source of variation for the block hash, they also make it more difficult for an adversary to manipulate the block chain.
A timestamp is accepted as valid if it is greater than the median timestamp of previous 11 blocks, and less than the network-adjusted time + 2 hours. "Network-adjusted time" is the median of the timestamps returned by all nodes connected to you. As a result, block timestamps are not exactly accurate, and they do not even need to be in order. Block times are accurate only to within an hour or two.
Whenever a node connects to another node, it gets a UTC timestamp from it, and stores its offset from node-local UTC. The network-adjusted time is then the node-local UTC plus the median offset from all connected nodes. Network time is never adjusted more than 70 minutes from local system time, however.
Bitcoin uses an unsigned integer for the timestamp, so the year 2038 problem is delayed for another 68 years.
source: https://en.bitcoin.it/wiki/Block_timestamp


PS-> BTW, I'm playing here with GnuPG ... testing --faked-system-time flag ... interesting ..

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March 26, 2017, 10:24:49 AM
 #250

I think we have our own opinions and explanations about this topic, and we must respect such opinion and explanation. I think I will just describe bitcoin as I use it, so for me, bitcoin is not a money, it is an asset I use to earn fiat money. I earn bitcoin from signature campaign and bounties. I cant really buy things with bitcoin because here in our country, bitcoin is not a that popular and not accepted mostly by stores.

Well I think you have a point and in my latest post I have said that bitcoin is a money that you can certainly buy certain things that are available with bitcoin but this transaction are only available in certain countries, and I think currency or fiat money really are accepted in all aspects of transaction and in many countries in the world bitcoin doesn't have a direct transaction that is why just like you have said bitcoin is an asset that you are saving so you can exchange it with certain currency in the world.



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March 26, 2017, 10:45:08 AM
 #251

This thing is a common sense for us because if bitcoin can be a source of fiat cash, well it can be considered a money. Because if that option we made it as a source of our needs also in a particular needs that we are spending cash for. Everytime we spent a cash money using paper type of money exchange, it helped us through the desperated days of our lives specially when we urgently need that money for our daily living.

I don't understand your reasoning when you post that it's common sense. Bitcoin isn't money because it could get transacted and turned into something that some random people say that has value.
Bitcoin is just a product, it isn't money. If Bitcoin was money then wouldn't it make sense if Bitcoin was approved to put as a Currency within the IMF?
Bitcoin is the easiest product that could get transacted and act as money, though I won't consider Bitcoin as money.

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hajimasan
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March 26, 2017, 10:59:28 AM
 #252

No , it is not a  money because bitcoin itself never said that it is money .But the earning ways of bitcoin network by the bitcoiners gives the name to the Bitcoin virtual currency .
So the name of the bitcoin as money if gave by the bitcoiners .
Since here no doubt that bitcoin is a money .
Because we can do everything that we can do with our bank money through the online internet banking .
So here it is more better to say bitcoin as  a online internet money  that is more safe and trusted In comparison of the Fiat .


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sportis
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March 26, 2017, 11:37:11 AM
 #253

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.

Who told that merchants don't want bitcoin as payment. Can you post some links where you can support your personal idea? You post about volatility. That's sure but merchants not only loose but they have the chance to make a profit if the price increases. Right? Moreover if the merchant is not willing to have bitcoin there are many services like as bitpay where he can accept bitcoin payments and in a short period of time to have bank deposits in his local currency. Therefore there are no excuses that merchants they don't want bitcoin as payment.
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March 26, 2017, 11:49:31 AM
 #254

No , it is not a  money because bitcoin itself never said that it is money .But the earning ways of bitcoin network by the bitcoiners gives the name to the Bitcoin virtual currency .
So the name of the bitcoin as money if gave by the bitcoiners .
Since here no doubt that bitcoin is a money .
Because we can do everything that we can do with our bank money through the online internet banking .
So here it is more better to say bitcoin as  a online internet money  that is more safe and trusted In comparison of the Fiat .

I don’t know in what world you live in, but you have to read the white paper of Satoshi Nakamoto. Moreover, do you really read for a second time all of these which you are posting? First line that bitcoin is not money and the third one that bitcoin is money. So you have to decide what are your beliefs about bitcoin because I am sure that your manager pays you with bitcoin.
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March 26, 2017, 11:59:54 AM
 #255

today bitcoin can be called as a currency. bitcoin has a value which is fantastic. some institutions and large companies were already using bitcoin. This is a positive value for bitcoin use in their daily lives.



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AjithBtc
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March 26, 2017, 12:04:32 PM
 #256

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience
although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol
Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.



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March 26, 2017, 12:17:02 PM
 #257

today bitcoin can be called as a currency. bitcoin has a value which is fantastic. some institutions and large companies were already using bitcoin. This is a positive value for bitcoin use in their daily lives.

But again big drop, we are down for 250 dollars, I'm afraid because of that and what people can think about such drops? Bitcoin is very unstable currency, and I think that is what rejects people from bitcoin.
I don't make difference here between people, big corporations and companies, everyone wish to feel secure with money, and this pumps and dumps are good just for few traders that earn a lot from that, but they are minority here, majority will suffer from that on the long run.


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March 26, 2017, 01:18:26 PM
 #258

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

Well for me bitcoin is money, if you want your bitcoin to become money, you must exchange it first into real money. But todays generation many users make bitcoin as their money since using bitcoin you can buy many things through online, paying bills through online and making some investments to any online businesses using bitcoin. You can send/receive bitcoin to another address if you wanted to then exchange it to real money. So easy money!

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March 26, 2017, 01:24:48 PM
 #259

Bitcoin is really money it is like we are working on internet where we get profit from these gambling - trading - investment these three are good income if you really wanted to earn bitcoin maybe we should work hard for it. But since bitcoin is unstable price where bitcoin decrease fast we lose instant profit when we stocking coins. But it is okay it is part like paypal tho.

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March 26, 2017, 01:28:29 PM
 #260

today bitcoin can be called as a currency. bitcoin has a value which is fantastic. some institutions and large companies were already using bitcoin. This is a positive value for bitcoin use in their daily lives.

Yeah and that is kind of a problem also. It is considered as a currency so those who are on top of this industry may want to take it down.
There is a lot of movement also unlike other currencies which moves like worms into slowness.
That kind of technology is kind of different to them and it might scare other countries.
Well for now, it is way going down in price. I am thinking someone or something is behind to all of this.

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