Is Bitcoin money?

[jech1028]

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

[mafia22]

real internet money )

[melancoly]

international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees.

[barabut]

Satoshi Nakamoto has published Bitcoin in the world by publishing an article (you can get it from the article here). Nakamoto's character is mathematician and software. Without seeing any financial institution, he saw the space to perform the transfer of money directly from the buyer to the seller or the payee, and he built a massive payment system.

[poplolnman]

Bitcoin is money. Bitcoin is a new generation of money, it evolves like us. Bitcoin becomes more convenient, easy to hold, more secured and safe from theft (hacker). Bitcoin can be used in payments, buying goods and services, billing, loading as far as fiat currency.Bitcoin is both right now, a form of investment, and a possible form of payment.

As a currency unit, the bitcoin is like all other currencies. Consumers can transfer bitcoin through the network and so do everything they can do with conventional currencies, including buying and selling goods, sending money to people or organizations, or lending

Bitcoin indeed has much more benefits compared to any other payment form. The only thing make Bitcoin has less interest to be considered as a currency are due lack of merchants. We can't find a merchant that available around, then people just looking for investment in bitcoin due it's volatility.

[nathanndadaia]

bitcoin equals gold ... can be exchanged for money ... so it is money

[freedomgo]

Bitcoin is money. Bitcoin is a new generation of money, it evolves like us. Bitcoin becomes more convenient, easy to hold, more secured and safe from theft (hacker). Bitcoin can be used in payments, buying goods and services, billing, loading as far as fiat currency.Bitcoin is both right now, a form of investment, and a possible form of payment.

As a currency unit, the bitcoin is like all other currencies. Consumers can transfer bitcoin through the network and so do everything they can do with conventional currencies, including buying and selling goods, sending money to people or organizations, or lending

Bitcoin indeed has much more benefits compared to any other payment form. The only thing make Bitcoin has less interest to be considered as a currency are due lack of merchants. We can't find a merchant that available around, then people just looking for investment in bitcoin due it's volatility.

That's because merchants are legally obliged to follow the law, when bitcoin is not yet properly recognize in their country
then they will be hesitant to adopt, but eventually as it's getting more popular, more people will be using it and the government will be regulating bitcoin.

[katarin2030]

In fact, bitcoin is money, it is known as digital money. It is a supplement to financial money. Anything can be purchased by online shopping.

Indeed bitcoin is a money but different from fiat money, the main difference from physical currency is that BC is a digitized money meant for online transaction. BC has a distinctive advantages over real money like can be used anywhere in the world, but for real money need currency exchange kind of thing.

[hitman777]

No bitcoin more than money

it’s bank p2p coin investment and life style

[yohan09]

Yes bitcoin could also be used as money because it could be a form to exchange products and services. The same purpose with money.

[MattF24]

It's more than just money since it has a lot of uses & features and it's a lot more expensive than gold.

[moonordoom]

Bitcoin is definitely money, money is a valuable means of exchange... whereas bitcoin also has value, in fact I think it is currently the highest among other currencies in any country, but bitcoin is a digital currency that has no shape or form.

[Jessy Mediola]

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Yes, maybe it is not the literal money that we are used to see but it is one of the medium of having it (money). Things, raw material, anything thats we can do buy and sell is money. Gold, silver, etc is source of money. As well as bitcoin. If you do or participate in some forums here, and also investing and trading well probably you'll get higher amount of it. And aside from that in every business has a 'money' which cycles its own life. And since bitcoin is one of business, therefore it is manages by money which has exchange of money. Complicated, but in simpliest word in the world of business money or profit are the major present in it.

[BeEvil]

I think that bitcoin is not money in that modern sense, just as we do not consider shells from the island of Koh Samui as money. Bitcoin is the basis of a new economy, but this economy will differ from the modern capitalist model.

[Kid zeus]

Currently BTC cannot be termed as money as it's one of the many developing currencies(and that to rapidly) and plus it's not accepted worldwide so u might have to break ur head while you are handling transactions in BTC. In my country BTC is neither legal nor illegal but in many countries it's either of them and until it's accepted worldwide it can't take the position of so called money 💰.

[mahboob123]

YES bitcoin is a great digital money and futere of money this is easy money for transction and saving

[Hoganye]

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Yes, maybe it is not the literal money that we are used to see but it is one of the medium of having it (money). Things, raw material, anything thats we can do buy and sell is money. Gold, silver, etc is source of money. As well as bitcoin. If you do or participate in some forums here, and also investing and trading well probably you'll get higher amount of it. And aside from that in every business has a 'money' which cycles its own life. And since bitcoin is one of business, therefore it is manages by money which has exchange of money. Complicated, but in simpliest word in the world of business money or profit are the major present in it.

Monetary is the common unit for evaluating the value of anything, therefore, the asset like gold, real estate, bitcoin ... all can use FIAT for evaluating the value. The price can be or low depend on the demand of the community, especially the buyer.

[Emerge]

In my opinion Bitcoin is money of the internet.

[daddypastes]

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 bitcoin is become money,every posting and joining to signature campaign   it well exchange in earning a lot of money or rather let say easy earning money.....bitcoin if we participate in other furom and investing we well get higher earnings.....

[pusa aso]

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?

i am only a newbie in bitcoin,but what i know is if you want to have money then you have to earn more bitcoin, so that you have money at all...