teejaymuna
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December 27, 2017, 03:45:42 PM |
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Bitcoin is and can be used to pay for commodity. It's acceptance is growing worldwide and more businesses are adopting Bitcoin as a payment means. I don't know what else Bitcoin is than money. Only difference might be that it is virtual money but it still bears the name money. I guess it's a kind of money. Right?
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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waitforme
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BBOD The Best Derivatives Exchange
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December 27, 2017, 03:53:00 PM |
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Bitcoin is something new for many people when it comes to finding out about it. These people only learn it when it reaches high values and are praised or criticized by the media.
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Javed zaman
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December 27, 2017, 04:06:36 PM |
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No, not until now but there will be a time when bitcoin will be used to buy commodities and services. Just wait for it.
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iamryan
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December 27, 2017, 04:07:47 PM |
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I think sometime its work like money and sometimes not bcz money used by every people every palace in the earth but bitcoin not.
But one day it will be act like money ...
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zais
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December 27, 2017, 04:24:01 PM |
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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? Bitcoin is a digital coin that can be sent electronically from one user to another, anywhere in the world that accepts the presence of this currency. Bitcoin is a digital currency that is now increasingly popular in the world of invetation. This currency is triggered by the mysterious figure of Satoshi nakamoto whose full identity is not yet known clearly. |
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dragonbhai
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December 27, 2017, 04:33:04 PM |
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I think sometime its work like money and sometimes not bcz money used by every people every palace in the earth but bitcoin not.
But one day it will be act like money ...
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows. |
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ibhk
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December 27, 2017, 05:00:39 PM |
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Thats right, bitcoin is money, it is also my source of income because I have to provide for my own study, I have to pay my tuition, my allowance also if I have to pay in school. Since I earn enough money through small business I can support myself in many aspects, I can also meet the needs of our family, I bought them a bag of rice that is all good for a month, and this is very helpful since I we have financial difficulties
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Chekitan
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December 28, 2017, 05:43:08 PM |
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Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.Bitcoin is and can be used to pay for commodity. It's acceptance is growing worldwide and more businesses are adopting Bitcoin as a payment means.thus I don't know what else Bitcoin is than money. Only difference might be that it is virtual money but it still bears the name money. I guess it's a kind of money. Right?
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cherryganda
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December 28, 2017, 05:44:58 PM |
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Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
bitcoin is money and gold. as of now no one predicted that this will happen into bitcoin that fast, before as we doubt bitcoin and keep having fiat on banks and gold in our jewels bitcoin was a sleeping giant and now awake with the whole world having panic in doing bitcoin now! |
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fayrouz
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December 28, 2017, 05:48:02 PM |
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Bitcoin is absolutely money if you work hard on it. We just need patience and be wise on how to make big money in Bitcoin. Just go with the flow guys.
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Saidmod
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December 29, 2017, 01:20:39 AM |
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I think sometime its work like money and sometimes not bcz money used by every people every palace in the earth but bitcoin not.
But one day it will be act like money ...
Bitcoin has always been acting as money from its existence. I remember during its 1st year, one American bought a slice of pizza for almost 3000 bitcoins. This only means that the main purpose of bitcoin is to act as money. |
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SiranthiS
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December 29, 2017, 01:42:20 AM |
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There is two way assets like tangible and intangible, money also can get two way as touchable and untouchable. Bit coin untouchable Future digital currency transaction.
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pikecara
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December 29, 2017, 01:44:35 AM |
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Bitcoin is a currency for what people invested their 'money'. Is an asset which can be used for investment and purchases of goods and services, it is indeed 'money' however is not linked to any nationality or regulated by any bank, regardless of that it is a mean of value and you can acquire stuff you want through it so yes, in my opinion it is money.
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fanita
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December 29, 2017, 02:56:02 AM |
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bitcoin as the digital currency used for transactions which governs the generation of currency units and verifies the transfer of funds, independently of the central bank. bitcoin can be used anywhere, and even bitcoin can be used directly if you want to join bitcoin. can be used to make the most of our online transactions between individuals, bitcoin is not money but a commodity that can be better utilized.
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daringdiscovered
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December 29, 2017, 03:30:40 AM |
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I think sometime its work like money and sometimes not bcz money used by every people every palace in the earth but bitcoin not.
But one day it will be act like money ...
Bitcoin has always been acting as money from its existence. I remember during its 1st year, one American bought a slice of pizza for almost 3000 bitcoins. This only means that the main purpose of bitcoin is to act as money. 3000 bitcoins for just a pizza? I think we are exaggerating here, I know that it is easy to earn bitcoin on its first year but I haven't heard of this man who bought a pizza for 3000 bitcoin, I would appreciate it if you are going to share us the link of that article or news. However, if it is true, that man must be regretting what he did way back then, he spent a lot of money for just a pizza which could be bought by fiat. |
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Astermony
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December 29, 2017, 03:47:23 AM |
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bitcoin as the digital currency used for transactions which governs the generation of currency units and verifies the transfer of funds, independently of the central bank. bitcoin can be used anywhere, and even bitcoin can be used directly if you want to join bitcoin. can be used to make the most of our online transactions between individuals, bitcoin is not money but a commodity that can be better utilized.
Bitcoin is a digital coin where we can sent it electronically from users to one another. Yes bitcoin is a money, a money from the internet that helps us safe money for our future. It also helps us buy products online and you can use bitcoin anywhere. It also helps you pay bills online. Bitcoin is really a big help to one another and I really adore bitcoin on how it works. |
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bitzzz
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December 29, 2017, 03:58:40 AM |
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Some kind. As the original meaning of money, it is created to facilitated the exchanged of good. Much like what crypto coin are served for today. Thus, it could be viewed as money.
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Monkeydluffy001
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December 29, 2017, 04:04:01 AM |
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I do not consider gold to be money. You can't go and buy most goods and services with gold. Gold is a commodity, dollars are money.
Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.
I totally agree on this, the time that bitcoin will be a money is when it's been already accepted as a mode of payments online, shopping, good all other stuff. The time when government will accept the changes in our generation, the time that they will invest their trust as well. Money and bitcoin is different, but because uae of bitcoin we can earn money. Its just a cycle as well. But technically, bitcoin is not yet a money. |
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yusupjatigumilar
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December 29, 2017, 04:20:30 AM |
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Bitcoin is not a currency, bitcoin is just the same commodity as gold, oil, gas and others commonly used as an investment commodity, if bitcoin is used as currency, then there will be many countries claiming that bitcoin is made in the country, causing social, economic, and even bilateral issues.
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s2sallbygrace
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December 29, 2017, 05:01:30 AM |
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bitcoins are just like shells or furs in ancient times - of course they are not banknotes or coins, but it's money, because they have all the functions of money
for me we can consider Bitcoin as an alternative to traditional government issued money, where people can use as a payment system. Therefore bitcoin is also money because we also use it to pay our bills online and the only difference is we cannot hold it like a fiat money because it is stored a a specially designed digital wallet where we have an access to it. "...from the perspective of economic theory, whether a digital currency may be considered to be money depends on the extent to which it acts as a store of value, a medium of exchange and a unit of account." http://journals.sagepub.com/doi/pdf/10.1177/0263276415619015 |
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