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Author Topic: Is Bitcoin money?  (Read 99000 times)
Inkdatar
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April 10, 2017, 08:41:18 AM
 #381

I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.

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April 10, 2017, 08:48:27 AM
 #382

Can we call this time the bitcoin is not money but gold, this is because the price of the bitcoin very profitable even many members agree that bitcoin is better than gold.
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April 10, 2017, 09:42:01 AM
 #383

Yes i believe that bitcoin is money because you can now use it to spend or to buy the things that you wanted like a real money do. And many people around the world who are using bitcoin because you can convert bitcoin to a real money.

Yes and the only difference between bitcoin and real money is that bitcoin is digital and real money is physical which we can hold and keep currency notes physically in our wallet and apart from that both are used for the same purposes.
Absolutely, bitcoin as digital currency can only used in online transaction but for now its hard to find online stores which is accept bitcoin and you also have an option in bitcoin you can exchange it into fiat to spend in offline stores.

Even if we don't find offline places to spend our bitcoins we should not be worried about it as we always have an choice to sell them and convert them to fiat in case if we have to spend it at offline places and if not then simply hold them for future.

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April 10, 2017, 09:49:53 AM
 #384

According to the definition brought by you bitcoin is not money. But the definitions are made by people and can change in time. Again from people. I will bring here another definition much more simple. Ask yourself: Can I use bitcoin to buy something or to change it in other currencies? If you find the answer of this simple question will understand that bitcoin AT LEAST and FOR SURE is money.
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April 10, 2017, 10:17:08 AM
 #385

I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Yes it is you can always exchange bitcoin for money 1 bitcoin cost a lot of money and still growing now days better start earning now..,
There are thousands of Bitcoin merchants online who will sell you everything from jewelry to electronics to illegal drugs. You can also spend bitcoins in "real life." To spend them in person, you need a Bitcoin mobile app. Generally, the store you're buying from will show you a QR code representing the Bitcoin transaction. You then scan that QR code with your phone, and the mobile app will send the required number of bitcoins to the store. Then you walk out the door with your purchases
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April 10, 2017, 10:35:55 AM
 #386

I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.

By means of transaction, no doubt that bitcoin is already a money for us who uses and enjoys it. We can't consider a thing if it doesn't have a value or price but because bitcoin does have high value and price, it is very considerable that bitcoin money. And not just it is a money for us but also it's an investment, it's like all in all.

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April 10, 2017, 10:47:16 AM
 #387

I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.

By means of transaction, no doubt that bitcoin is already a money for us who uses and enjoys it. We can't consider a thing if it doesn't have a value or price but because bitcoin does have high value and price, it is very considerable that bitcoin money. And not just it is a money for us but also it's an investment, it's like all in all.
Even from the start, bitcoin is already a money because that is what satoshi nakamoto likes, he want a currency that can help other people to make the our daily basis life easier than before with the use of internet only. Bitcoin already helped a lot of people in paying their monthly bills, doing transactions by transferring and receiving money from different part of the world. Bitcoin is really a money or currency and it is also profitable at the same time.

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April 10, 2017, 10:47:51 AM
 #388

As you know bitcoin  is basically a money transfer system like paypal.

But a new market has emerged. Virtual money market.

And bitcoin has been the reserve currency of this market.

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April 10, 2017, 11:41:43 AM
 #389

Obviously it is money. Like you can buy items with that. And i is money but an online currency. There is no paper currency for bitcoin. It can only be used online. Or you need someone who wants bitcoin and can give you fiat for that.
That way you can get your countries currency for bitcoin

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April 10, 2017, 03:52:14 PM
 #390

Yes i believe that bitcoin is money because you can now use it to spend or to buy the things that you wanted like a real money do. And many people around the world who are using bitcoin because you can convert bitcoin to a real money.

Yes and the only difference between bitcoin and real money is that bitcoin is digital and real money is physical which we can hold and keep currency notes physically in our wallet and apart from that both are used for the same purposes.
Absolutely, bitcoin as digital currency can only used in online transaction but for now its hard to find online stores which is accept bitcoin and you also have an option in bitcoin you can exchange it into fiat to spend in offline stores.

Even if we don't find offline places to spend our bitcoins we should not be worried about it as we always have an choice to sell them and convert them to fiat in case if we have to spend it at offline places and if not then simply hold them for future.

We can always spend it on shopping on the internet if we need to. The number of merchants accepting bitcoin is low and does not increase much every year. Though I have not used them much I think its popular in other countries. However we can always use bitcoin for trading and using it to earn money by buying low selling high.

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Mumbeeptind1963
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April 10, 2017, 04:48:14 PM
 #391

    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 it is because it has a value and we can buy our goods from it. and among other coins it has a very great value in the market. it is a very good investment also , therefore it is also a money.

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    Soul Reaper
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    April 10, 2017, 05:05:17 PM
     #392

    Can we call this time the bitcoin is not money but gold, this is because the price of the bitcoin very profitable even many members agree that bitcoin is better than gold.
    I think that the comparison you have made is invalid,
    As bitcoin and gold are 2 totally different concepts.
    As of for the base use bitcoins were created,
    By satoshi to prove that decentralized transactions can take place.
    So bitcoins is basically a form of currency,
    Whose worth among other currencies is increasing drastically.

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    April 10, 2017, 08:06:03 PM
     #393

      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 it is because it has a value and we can buy our goods from it. and among other coins it has a very great value in the market. it is a very good investment also , therefore it is also a money.
      yes and we can see that in some places we even do not need to covert bitcoin into fiat currency and can be use as directly for buying good from online shops as well as from offline shops also.
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      April 10, 2017, 08:19:32 PM
       #394

      Yes i believe that bitcoin is money because you can now use it to spend or to buy the things that you wanted like a real money do. And many people around the world who are using bitcoin because you can convert bitcoin to a real money.

      Yes and the only difference between bitcoin and real money is that bitcoin is digital and real money is physical which we can hold and keep currency notes physically in our wallet and apart from that both are used for the same purposes.
      Absolutely, bitcoin as digital currency can only used in online transaction but for now its hard to find online stores which is accept bitcoin and you also have an option in bitcoin you can exchange it into fiat to spend in offline stores.
      No it is not hard to find an online shop for shopping with bitcoin I have heard of a number of sites which accept bitcoin for shopping. The problem is that these sites do not advertise their sites and so not much people know about these sites and so they also do not get the success.

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      Osarman
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      April 10, 2017, 08:26:07 PM
       #395

        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 it is because it has a value and we can buy our goods from it. and among other coins it has a very great value in the market. it is a very good investment also , therefore it is also a money.
        yes and we can see that in some places we even do not need to covert bitcoin into fiat currency and can be use as directly for buying good from online shops as well as from offline shops also.
        yeah bitcoin is really accept in maximum places for online or offline shopping and i hope there is will be also use bitcoin for offline shopping and then we will be no need convert it in to fiat.

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        batang_bitcoin
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        April 10, 2017, 10:12:13 PM
         #396

        I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.

        By means of transaction, no doubt that bitcoin is already a money for us who uses and enjoys it. We can't consider a thing if it doesn't have a value or price but because bitcoin does have high value and price, it is very considerable that bitcoin money. And not just it is a money for us but also it's an investment, it's like all in all.
        Even from the start, bitcoin is already a money because that is what satoshi nakamoto likes, he want a currency that can help other people to make the our daily basis life easier than before with the use of internet only. Bitcoin already helped a lot of people in paying their monthly bills, doing transactions by transferring and receiving money from different part of the world. Bitcoin is really a money or currency and it is also profitable at the same time.

        Well that's true, Satoshi Nakamoto aims for this thing and I guess he is really pointing out to create a decentralized money which no government will control it. And he became successful with it, bitcoin isn't controlled by the government and it turns out that it's value seems to be fluctuating and making a history in the market.

        grandy
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        April 10, 2017, 11:58:51 PM
         #397

        I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.
        yes there is no doubt about this that bitcoin is money. as we can even use it for shopping without changing or converting it in to fiat currency.  for example in my area there is a single supper store who are accepting bitcoin for shopping.                                                                                                                                                                                                   



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        meliodas
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        April 11, 2017, 12:10:57 AM
         #398

        I consider it as money cause we can use it to pay and for me it is the only value of money,
        For me money is just something that can be used to pay for something so therefore I consider bitcoin as money.

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        vasrasus
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        April 11, 2017, 12:20:52 AM
         #399

        I consider it as money cause we can use it to pay and for me it is the only value of money,
        For me money is just something that can be used to pay for something so therefore I consider bitcoin as money.

        It's a money since we can used it to transact with things relating to money, like in paying bills, shopping, getting paid on job or simply by transferring it to a friend. Bitcoin can do all such,it can be a source of income when doing campaigns and and a payment in any transactions that offers bitcoin payment online.

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        Aleister Crowley
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        April 11, 2017, 01:46:46 AM
         #400

        I believe bitcoin is money because of bitcoin I can use it to spend stuffs, buy online and transfer money online. By doing transactions online bitcoin really helps me because its no hassle, less effort and I can save time.

        By means of transaction, no doubt that bitcoin is already a money for us who uses and enjoys it. We can't consider a thing if it doesn't have a value or price but because bitcoin does have high value and price, it is very considerable that bitcoin money. And not just it is a money for us but also it's an investment, it's like all in all.
        Even from the start, bitcoin is already a money because that is what satoshi nakamoto likes, he want a currency that can help other people to make the our daily basis life easier than before with the use of internet only. Bitcoin already helped a lot of people in paying their monthly bills, doing transactions by transferring and receiving money from different part of the world. Bitcoin is really a money or currency and it is also profitable at the same time.

        Well that's true, Satoshi Nakamoto aims for this thing and I guess he is really pointing out to create a decentralized money which no government will control it. And he became successful with it, bitcoin isn't controlled by the government and it turns out that it's value seems to be fluctuating and making a history in the market.

        yaps, bitcoin is money, money that is more flexible, it is a virtual mney and only exist in the digital world, the same functionality as the dollar or other currencies, bitcoin has many advantages, quickly, easily, anytime and anywhre else you can do transactions, although only certain people are able to conduct transactions with bitcoin, but this shows that bitcoin has the same function as money, but a significant difference is bitcoin has not been able to get into a small community, just like merchants and stores, although some traders in other countries already accept bitcoin as a means of payment. ,, is not same to the money that can go into all transactions .. but to me bitcoin transactions of money, money to make money,. a lot I can do with this bitcoin money,. Grin Grin Grin

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