Is Bitcoin money?

[7Pro]

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 its digital asset in internet but also working as a money like paying any of stuff when we buy online and also offline in country which accept bitcoin.

[rancidgash]

Bitcoin is equivalent to money, it is a protocol, a computer network and so many more.
Actually, bitcoin is a digital currency,  it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.                                        
 It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.

 Bitcoin is a cryptocurrency. It could be use for investment or for online payment  But it could be mean money in a way that it  mcould be converted into physical money.

the bitcoin and its similar currencies are a means of change. there are various questions, controversies and discussions around the cryptocurrency, but the important thing is that the case of money, bubble or conspiracy does not matter. "The very important thing is that they are something much, much better than the money we know.

[Pasadoble]

I do not think that it is money, it is digital asset.

[arrmia11]

As of now, bitcoin become popular and in fact it is used in some transactions especially online. But to attain the status of being a "money" must be stable and acceptable for majority of the people in the world or at least used or recognized by a certain country. Therefore bitcoin is not yet a money but can be use to convert into a real money and besides bitcoin is not yet stable enough to become a money. Though we are hoping that in the future it will be used by the majority.

[deviltasha]

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

No, I cannot agree with this, money is smth different, gold, oil, bitcoin and etc. has its price which is measured in money. So bitcoin cannot be money itself.

[ehrz22]

It is not a money, like everyone said, bitcoin is a digital currency, asset or commodity. It is not a money but you can trade it for real money. You can consider it as a money online but literally it is not really a money. I am still a newbie when it comes with digital currencies and Im still learning a lot now about bitcoin and altcoins.

[AliMan]

It is not a money, like everyone said, bitcoin is a digital currency, asset or commodity. It is not a money but you can trade it for real money. You can consider it as a money online but literally it is not really a money. I am still a newbie when it comes with digital currencies and Im still learning a lot now about bitcoin and altcoins.

Yes, bitcoin is money. Not just a small amount of money, but big amount of money because of its exchange rate in cash. You can buy things and services online or on stores that are accepting bitcoins without giving a physical coin or a dollar because it is cryptocurrency. You can buy or transact with other bitcoin investors, stores, and sellers with ease and less hassle.

[posesion19]

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.

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[/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?

For me,bitcoin is more than money.It is very valuable and  we can use it as payment for goods and services

[mr.niwangz]

bitcoin is a form of digital money but I can say that bitcoin is money because it is used for currency or exchange of real money and it has a value, for me bitcoin is better than money because he is very valuable and more many bitcoin can do more than money.

[Ethernel]

Of course bitcoin is money since you can buy something directly with bitcoin, and the best thing is that we can have total control on our funds and we have our own bank in the form of bitcoin wallet which is accessible to us 24/7 and our money keeps on growing even if we simply hold it for a long term. but at the end it's not actual money, it's more something you invest in which can make you earn real money.
 

[romanovst]

This thread is quite old and now that bitcoin has given huge returns over the last 8 years, it is recommended to stay with it. It is now very much equal to money as you can cash in few hours only.

[Ngewex Yuk]

Many people say that bitcoin is more than money, if money is worth 6 then bitcoin is worth 9, this is because bitcoin value keeps increasing while money value keeps down.

[cryptojoe]

I believe that Bitcoin is like money and better.

[Axecelzon081218]

Yes that's true bitcoin is a money. Because bitcoin can used buy or transac. Your bills. Bitcoin is used to currency or exchange to money value.

[Questat]

Many people say that bitcoin is more than money, if money is worth 6 then bitcoin is worth 9, this is because bitcoin value keeps increasing while money value keeps down.

I would not say that, I know money is very important and without money bitcoin will not have its value. 
We all based the value of bitcoin to money and bitcoin is not like money which is not good for investment, bitcoin is an asset but a liquid asset
as anytime we can sell and cash it out.

[Wish 107.5]

I think bitcoin is a substitute for the money like china you can pay for the food for giving a bitcoin and thats we called a money.

Yes, Bitcoin can be a substitute to money; thus, Bitcoin can be considered as another type of money. And it is a kind of money that increases as the value of Bitcoin increases. It is such a profitable one for having a high value after a long time.

[yuyuchain]

Any currency that can be exchanged equally can be said to be money. Bitcoin is a digital currency, so it can be defined as money on some occasions.

[henry3498]

Yes, Bitcoin can be a substitute to money. You can buy or transact with other bitcoin investors, stores, and sellers with ease and less hassle by Bitcoin

[Igor Kapy]

For bitcoins, you can also buy anything on the Internet, like for dollars, euros or rubles, and it also trades on stock exchanges. The most important difference between bitcoin and all other forms of money is decentralization. No institution in the world controls bitcoin. In terms of independence, this is a plus, but in some this situation can cause distrust.

[cjinny]

Anything that can be used as a means of payment in my opinion is money, and that includes bitcoin. Although you make a pretty good statement, but this is even confusing for beginners. I disagree with your opinion, bitcoin is money, but bitcoin has a more sustainable function.