Is Bitcoin money?

[EmJay]

Bitcoin is a Money because we use it as a form of payment.
In this digital age it is important that our transaction is more faster and secure online.

it is a digital cryptocurrency in which we can convert it into cash and spend it for our daily expenditures or expenses so I consider it as a cash.  if you want it as an investment then it can also be an investment. you can invest it at and convert it into cash one day.

[nyong]

bitcoin is used as a medium of exchange, so bitcoin can be said as money

[Mrjitter]

In my opinion I think that bitcoin is money only called differently and have a different way of getting

[marcuslong]

bitcoin is used as a medium of exchange, so bitcoin can be said as money

Yeah. I agreed. Bitcoin is a money. Actually, In google and other dictionary, All currency is money. But in the case of Bitcoin, We all know that Bitcoin is cryptocurrency/digital currency that is not legalized ni many countries. Since Bitcoin is now used as mode of payment and can be exchange in fiats in many countries, We can consider it as money. One of the characteristics of money is for buying something, Hence, Bitcoin is already using to buy something. Bitcoin is money.

[Enjorlas]

It's money because people decided it's money, just like dollar is money because people decide it is worth something

[PANK21]

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?

No, Bitcoin is not a money because it is just a currency. You have to convert it first to become a money. For example your BTC will be converted in a peso.

[Boom69699]

Yes bitcoin is money, you can change it in real money but be wise because you might be scammed or you might be hacked.

[claydeey]

Bitcoin has all the fundamental function of a fiat money it could be used as a medium of exchange, therefore, bitcoin can be considered as money.

[Gladz29]

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

Yes for me bitcoin is money, because bitcoin is virtual money. And I believe that bitcoin is promising money and in coming years bitcoin is the main currency that we used for buying our needs and paying bills.

[BlackBeauty]

Bitcoin has all the fundamental function of a fiat money it could be used as a medium of exchange, therefore, bitcoin can be considered as money.

Bitcoin is a digital money and its used for online people who knows online business and shopping and they better know its value because they get huge benefits from bitcoin and now their life is more comfortable than before bitcoin and i think bitcoin in future more popular and strongest currency.

[Gerci]

Yes, bitcoin can say virtual money very promising, bitcoin is the future of a nation, bitcoin is money or virtual currency now this again popular, bitcoin can we say as a means of payment legally, although there are many who could not receive bitcoin as a means of payment, but bitcoin already shows his identity through the way in do online, money virtual or bitcoin already a lot of change the fate of a person of the small to large, bitcoin it helps a lot of society of a nation

[SparkMaster86]

I think it is. You may argue becaouse it's don't have any type of physical form but when You have money on your bank account it's also just the string of numbers just like BitCoin

[cloudbleron18]

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 also a money.in other countries this kind of currency was already been used to any transactions and transportations anyway.and we here in the Philippines bitcoin is money also because bitcoin can transfer to our own currency as peso.thats why I can says that bitcoin is a money.

[marites]

I think money and bitcoin is similar.
Bitcoin is also a currency like a money and we can use it in many ways ..

[ASKoranteng]

Bitcoin is a digital currency which is accepted worldwide just like real money. Bitcoin can also be exchanged for real money anytime one wants to.

[NuttyOrange]

Bitcoin is a digital money. We can use and earn it just like any other fiat. So I guess bitcoin is just any money we use but only in digital world.

[Jltan]

Yes Bitcoin is definitely a currency but if your bitcoin is in exchanges it is paper value. Anything can happen anytime and it is not as safe as storing it yourself. That said, being a young currency bitcoin is still volatile so putting all your assets into bitcoin is not recommended at all.

[mkmittalg]

 But I think my bitcoins are interesting and fun fill. Bitcoin is a new and different kind of money

[tomhutchinson]

Most of us use bitcoin only as investment and then exchange it into local money.
it is money more than this but high fee make us use it like that

[RNGfight]

Bitcoin can be exchanged for French currency, but more often than not, it's just an object. It's hard to call it a fiat currency, and that's my point.