Is Bitcoin money?

[jerry29@]

It is a sort of money not the actual money because you cannot claim it when it is lost. It is only the virtual aspect of money.

[SpiderDS]

I know it bitcoin is a virtual money.it can change our houl life.but do not hard work day by day everybody.bitcoin is converted to money.so bitcoin is currency of good invest money.

[Mr A]

Yes Bitcoin is a money because anything that is being used as a medium of exchange is money.

[Df9898]

Of course , because bitcoin can be change to money.

[donh20]

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

yes i agree bitcoin like gold is money, these is the best form of money that we have ever used

[Ahimoth]

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

yes i agree bitcoin like gold is money, these is the best form of money that we have ever used

I can consider bitcoin as money though it is only a digital currency. Bitcoin has a value. Though you may have to convert it to fiat money to be able to buy other things, since bitcoin is not yet accepted everywhere, still, if you have bitcoin, it can be considered that you have money. You can earn income through bitcoin, pay for expenses, buy/pay things online, so it is considered as a money.

[twicezeroiszero]

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

yes i agree bitcoin like gold is money, these is the best form of money that we have ever used

I can consider bitcoin as money though it is only a digital currency. Bitcoin has a value. Though you may have to convert it to fiat money to be able to buy other things, since bitcoin is not yet accepted everywhere, still, if you have bitcoin, it can be considered that you have money. You can earn income through bitcoin, pay for expenses, buy/pay things online, so it is considered as a money.

You can see Bitcoin is the money to using, but, do not forget this money can decreasing your capital anytime because the Bitcoin price is unstable.
Finally, FIAT is still the best monetary system for present, IMO.

* Unless we know better monetary or cryptocurrency better than Bitcoin can keep the value stable.

[JesusCryptos]

Legally Bitcoin is not money, at least not in 99% of the world. Practically, if it ever was it has stopped to be when it has become an asset, a store of value.

[Cryptoowner]

Functions of Money:
1. A Medium of Exchange: +
2. A Measure of Value: +
3. A Store of Value (Purchasing Power): +
4. The Basis of Credit: -
5. A Unit of Account: +
6. A Standard of Postponed Payment: +

[bert20]

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 thought of the bitcoin is not yet money because this is a job where you can pay a lot of money and can save from this bitcoin. So the bitcoin is not yet money because this is a job that needs focus to make money. If so is there a bitcoin. The bitcoin is something needed values do. So the bitcoin is a job that will need to improve and to be patient about it will pruduce many money.

[wahyu.prist]

Bitcoin is a pretty good digital money selling its value in the international market so many people are reaching to bitcoin.Thanks #CIIW

[ross09]

Make a contract. Enforce it in a court.

This is the essence of our discussion: How can we guarantee payment?

The old way: Trade for something of value (silver, gold).

The crooked way: Use government chits, and the government will enforce the payment (U.S. dollar).

The Bitcoin way: Accounts are accurate, honest, and convenient (based on Math).

No one can phoney the books--the system Just Works. It's more voluntary than the other systems, yet has none of their drawbacks.

Note that Bitcoin is just a system of accounting, and could be used for purposes other than trade. To call it money, or cash, or "worth" something is to complicate it needlessly. If someone wants to trade bitcoins for Pesos, or for Yak fur, or just hold on to them, that is their free choice.

All trades are ENTIRELY SEPARATE FROM THE BITCOIN SYSTEM.

Keep it simple, people! There is no reason to put Bitcoin into the commercial arena, with the accompanying legal meathooks. There is no reason to call Bitcoin money, or cash, or to say Bitcoins are "worth" X number of dollars, because they're clearly not; Bitcoin is just a P2P, distributed accounting system. Nothing more.

Why ask for trouble, and invite the crooked Enforcers in where they don't belong? Bitcoin is NOT money, so don't call it that!

-----

Full disclosure: I am also fresno. I created the fresno persona to handle my political activities while I ran the Silverman site. Now that I am no longer exchanging Bitcoins as a business, "fresno" is no longer active.

Yes, it is I believe since bitcoin is being used for trading payment and can exchange to other currency.

[odakorlina]

Bitcoin is definitely money and at the same time, investment. The most important difference between bitcoin and all other forms of money is decentralization. Because of bitcoin's value's ability to increase, most people like me, see it now as an opportunity for financial growth. t may not be a money to hold or touch but its usefulness are just the same because we can buy goods through bitcoin.

[Pedro18]

It is a sort of money not the actual money because you cannot claim it when it is lost. It is only the virtual aspect of money.

Agree on this. Bitcoin is just a virtual currency, but it can use for some payment of services or things. Bitcoin also has a wallet where you can store your bitcoins. Bitcoin is not physical money compare to fiat, for me, I considered bitcoin as a money because bitcoin has a value.

[BlackBeauty]

It is a sort of money not the actual money because you cannot claim it when it is lost. It is only the virtual aspect of money.

Agree on this. Bitcoin is just a virtual currency, but it can use for some payment of services or things. Bitcoin also has a wallet where you can store your bitcoins. Bitcoin is not physical money compare to fiat, for me, I considered bitcoin as a money because bitcoin has a value.

Bitcoin is a digital currency and it is use for online shopping and you can everywhere use bitcoin because bitcoin is use in world wide so if you visit in any country bitcoin will helpful for you and you can buy anything from its payment,

[jeffer8035]

It could be said that the bitcoin is the real money of the world depends on the work of the whole society and not a federal reserve or a world bank that what they do is squeeze the peoples of the world and print and print money from nothing without that the auditen pra to know how many do bitcoin instead are 21000000 but nothing

[masudRtarek]

  Yes right that Bitcoin is more an asset than the cash.Bitcoin is the real money.The same type of Gold is Bitcoin

[NoNetwork]

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

Both fiat and cryptos are money, as stated, obviously both of them are currencies. Their differences are on much a deeper explanation or rather on another topic. They are not what they are just because people wanted it the way it should be. But instead, it was created the way how its going to be used.

It is a sort of money not the actual money because you cannot claim it when it is lost. It is only the virtual aspect of money.

Its a digital currency. Well obviously because its decentralized. What do you mean by the virtual aspect of money? Its still money, just another version of it.

I know it bitcoin is a virtual money.it can change our houl life.but do not hard work day by day everybody.bitcoin is converted to money.so bitcoin is currency of good invest money.

What is this crap? Good thing that they've implemented the Merit System. Now we can distinguish people and to identify who're really deserving to rank up.

[lesya-ya]

Undoubtedly, I think that Bitcoin is money. Money of the future. We should not underestimate him, but it is still difficult for many to understand him.

[9emb3lelit3]

bitcoin is a platform where buy or sell digital assets such as ripple, ethereum, bitcoin and others. bitcoin money is virtual.