Is Bitcoin money?

[Butchick]

Bitcoin is definitely money and at the same time, investment. Bitcoin before was merely an application that most people thought have no future but nowadays, a lot of people are investing in bitcoin because they see some future, a high potential for growth in value. Because of bitcoin's value's ability to increase, most people see it now as an opportunity for financial growth.

[soikot0012]

yes,bitcoin is money.because it makes our life more and more easy.In our regular life we need money that is possible as bitcoin.bitcoin trading now a days very atractive.so I think I say bitcoin is money

[syamster]

Obviously, bitcoin is money because it is known as a digital currency in the crypto world and it is used for transactions worldwide. Bitcoin has the functions of a fiat money which means that it is consider as a medium of exchange. As the matter of fact, it will bring you a lot of money in the future because bitcoin is proven for having a huge amount of value as the time flies.

Yes bitcoin is a currency and you can call it a money as well because it work same like other paper money you can buy a lot of thing such as your food, clothes and much more you can also buy online things through bitcoin and I’m paying all my bills through bitcoin from last four months I’m giving bitcoin in my tuition fees and in japan they are giving bitcoin to their staff as a salary and soon it will be started in many countries.

[Tron]

no, it's a type of clothing...

[ronremsey25]

Yes , Bitcoin is a money in a form of digital. It is a new form of money where the price is volatile. Since we are entering the new age where innovation and development occur the evolution in money has been enhance that we call now Bitcoin. As of now the service of it is limited but it is developing through time and might replace the money in the future.

[LigwagGanern]

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 money. You can buy new things with bitcoin. You can have what you want with bitcoin. But the different of bitcoin to the money in the world is bitcoin cannot touch or smell because it is a digital money or digital currency. There is some websites or online shops accepted bitcoin as payment, it means you can use bitcoin in buying.

[Edward1977]

Bitcoin is just like other altcoin that can has pump and dump process in price just like any other things like gold, fiat money etc,. in market.I think that it can be called a full currency.

[sicnarfkswiss]

 Bitcoin is not a money but it functions as one because it is is a cryptocurrency and worldwide payment system. Bitcoin can also be changes into currencies. It may not be a money to hold or touch but its usefulness are just the same because we can buy goods through bitcoins, a lot of online shops accept bitcoins as payments for a thing we want to buy.

[ThePresident]

For me its an asset, an item, that you hold for that you maintain for, depends on the time and season whether its price is up or down, you gain profit on it, lose profit on it, but its how you play with it.

[Christian13]

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?

In my opinion, bitcoin we can equate with gold or silver in terms of trade, gold and silver in ancient times used for exchanges, can be in the mine and the price is quite fluctuative. Can also be said bitcoin as money but I think less precise, more appropriate as a commodity exchange. And also we can buy online, we can buy load, we can purchase online things so this is also money, I think online money that we can called it. Generally we earn bitcoin because we want to have our extra income or savings so it also a money.

[vinz7229]

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.

That's true, but to elaborate more, bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Bitcoin has become a hot commodity among speculators. Bitcoins can be used for online transactions between individuals. In other words we use Bitcoin in whatever transaction and convert it into money  in the long run

[beezunus]

I think bitcoin is money but in digital form and can only be used online, we can do sale and purchase transactions using bitcoin, of course if they also provide in bitcoin

[olatslodi]

Yes, bitcoin is a money. Bitcoin is used to currency or exchange to money value. This currency is fundamentally different from all previously created electronic currencies and payment systems. Though we are hoping that in the future it will be used by the majority.

[jops]

Yes bitcoin is a money. In a digital cyrptocurrency world. And bitcoin may use to exchange to real money. We hope in the future, bitcoin will be used us a universal payment all over the world. Bitcoin is a money because you may use this us a money to paybills to buy a load and any thing. So bitcoin is a money.

[DoublerHunter]

I think bitcoin is money but in digital form and can only be used online, we can do sale and purchase transactions using bitcoin, of course if they also provide in bitcoin

Bitcoin is a money but it is not a pure money because people are not still using it as their secondary option for doing transaction because of the problem of the congested blockchain that resulted into a slow confirmation time and because of the expensive fee that bitcoin have compare to the lower fees altcoins that are available.

[yonjitsu]

Being a digital currency where you can not touch it doesn't already mean that it is not money. That's what the notion of others because they are always referring to fiat money where they can touch it. Bitcoin is the opposite by means of form but it is still money because you can use it to pay goods and services and of course, you can convert bitcoin to fiat.

[kidd07]

Bitcoin is definitely a money but in another form or medium because if not, we are all not here spending out time and effort in front of the monitor. Bitcoin can be used as an investment so the money does, Bitcoin can exchange goods and can buy any items or properties so the money does.

[spinno]

Yes bitcoin is a money. In a digital cyrptocurrency world. And bitcoin may use to exchange to real money. We hope in the future, bitcoin will be used us a universal payment all over the world. Bitcoin is a money because you may use this us a money to paybills to buy a load and any thing. So bitcoin is a money. Bitcoin is a money in a form of digital. It is a new form of money where the price is volatile. Since we are entering the new age where innovation and development occur the evolution in money has been enhance that we call now Bitcoin. As of now the service of it is limited but it is developing through time and might replace the money in the future.
Bitcoin is definitely money and at the same time, investment. Bitcoin before was merely an application that most people thought have no future but nowadays, a lot of people are investing in bitcoin because they see some future, a high potential for growth in value. Because of bitcoin's value's ability to increase, most people see it now as an opportunity for financial growth.

[burdagol12345]

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?

Money is the other terms of bitcoin,because for me there is  no difference of traditional currency and digital currency,only different of them is the physical appearance,only we can see the fiat money while the bitcoin is mostly digital numbers that we can seen through technology,but in terms of used  they are disame especialy in doing transaction or paying bills,bitcoin is can used as payments.

[ogmaro]

Bitcoin is only money because people want it to be as dollar is only fiat because people want it to be, money is trust.