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Author Topic: Is Bitcoin money?  (Read 108232 times)
abstractednerve
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April 17, 2017, 04:28:25 PM
 #521

In my view, the question " is Bitcoin money ? " same like this question " is Gold money ? ".
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.

If you can exchange to real money then its also an form of money but gold cannot be used for online shopping like bitcoin and even bitcoin can be exchanged directly to your bank account so bitcoin holds more features to treat it a money in compare to gold.

                                                                               
                
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April 17, 2017, 05:23:51 PM
 #522

Each has their own thinking and own view on bitcoin. Some say it's a ponzi, but they still use. Some say it's a threat to the economic system, but they use as an investment to benefit out of it. Banks consider it as an technology and have started to adopt it fearing the goodness in it. So if you think it as money it is, as well if you think it's an investment then it is an investment. Nothing wrong in it.
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows.

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deisik
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April 17, 2017, 08:24:14 PM
 #523

Money is basically an IOU that is communally agreed upon

I'm curious how many people got confused after reading this sentence

But you are welcome to explain who owes whom exactly since IOU obviously stands for "I owe you", though I don't think that I for one owe you anything. In the same way, if someone is paying you with money which is an IOU, does it mean that he owes you anything? I don't think so. But then again, you are welcome to explain in simple terms how money is "basically an IOU". But please try making your explanation comprehensible, show us that you understand yourself what money actually means

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April 17, 2017, 08:47:52 PM
 #524

Each has their own thinking and own view on bitcoin. Some say it's a ponzi, but they still use. Some say it's a threat to the economic system, but they use as an investment to benefit out of it. Banks consider it as an technology and have started to adopt it fearing the goodness in it. So if you think it as money it is, as well if you think it's an investment then it is an investment. Nothing wrong in it.
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows.

Bitcoin is not only money, but also a payment system. Bitcoin can not be compared with Fiat. It has many advantages. Bitcoin is recognized as money in the bitcoin community
BitcoinHeroes
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April 17, 2017, 09:16:24 PM
 #525

bitcoin is an innovative payment network and a new kind of money. but is it money? some call it a new form of virtual currency. others have lauded it as a new type of payment system. so what is it? and why does it matter?
what we call it may not matter much in casual conversation, but how it is categorized does have significant implications when it comes to regulation. If it is “money” or “currency,” then existing laws and regulations may apply to businesses and consumers who issue, sell, or transact with bitcoin. from banking laws to anti-money-laundering laws and tax regulations—whether these laws apply to the use of bitcoin depends on how bitcoin is classified.

at present there is no consensus as to what we should call bitcoin or how it should be defined for purposes of applying legal rules.  courts and regulators are coming up with different theories and classifications as a way of figuring out whether this new product/payment vehicle is or is not covered by different laws.but it is still unclear what is happening right now.
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April 17, 2017, 09:35:44 PM
 #526

In my view, the question " is Bitcoin money ? " same like this question " is Gold money ? ".
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
There is a great difference between gold and bitcoin as I have not saw any shop which have written the price of product in terms of gold while there are a number of shops in which the price is written on the product in terms of bitcoin and people accept.

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April 18, 2017, 12:09:25 AM
 #527

Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.

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April 18, 2017, 12:13:20 AM
 #528

Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.

I need to disagree with you, bitcoin is not a money, the same with gold, they may be the same but not as money, they are assets, they are being sold or saved to earn money. Gold may be used to pay in the past, but not today. And you can say it is similar to precious metals, bitcoin is digital currency.

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April 18, 2017, 12:49:12 AM
 #529

Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.
precisely bitcoin is a valuable item. because with bitcoin we can perform various financial transactions. similar to its role as a currency, bitcoin now will continue to try to become a currency that is recognized by the whole world.

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April 18, 2017, 12:52:06 AM
 #530

Money is basically an IOU that is communally agreed upon

I'm curious how many people got confused after reading this sentence

But you are welcome to explain who owes whom exactly since IOU obviously stands for "I owe you", though I don't think that I for one owe you anything. In the same way, if someone is paying you with money which is an IOU, does it mean that he owes you anything? I don't think so. But then again, you are welcome to explain in simple terms how money is "basically an IOU". But please try making your explanation comprehensible, show us that you understand yourself what money actually means
He barely knows the meaning of IOU, just another shitposter as usual bruh.

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April 18, 2017, 01:01:31 AM
 #531

Bitcoin is more of an asset then money. It's better to spread your money over assets anyway. It doesn't matter what it is as long as it's worth something and has values then maybe if you make good choices you can even profit over it.
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April 18, 2017, 01:06:51 AM
 #532

Bitcoin is more of an asset then money. It's better to spread your money over assets anyway. It doesn't matter what it is as long as it's worth something and has values then maybe if you make good choices you can even profit over it.

An asset is something that is planned for the long term and not used for the needs of every day, your comment is nice, but I use bitcoin as a currency in everyday situations, so there are different views here, so the asset is passive such as gold and land property, so bitcoin is not included in it.

R
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April 18, 2017, 01:11:54 AM
 #533

It is a relatively new technology, and with many aspects that need to be better defined. But for me it is clear the fact that Bitcoin is money. In addition to being decentralized, and having a more efficient issuance than centralized currencies, there are thousands of people using Bitcoin every day, be it to store value, or to pay bills and buy things.

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April 18, 2017, 02:40:37 AM
 #534

It is a relatively new technology, and with many aspects that need to be better defined. But for me it is clear the fact that Bitcoin is money. In addition to being decentralized, and having a more efficient issuance than centralized currencies, there are thousands of people using Bitcoin every day, be it to store value, or to pay bills and buy things.
Bitcoin is very precious to us hence it is clearly money, an internet money to be exact, but this money is different from fiat where it inflates over time, bitcoin is not subject to inflation and in fact it could give us a fortune when the price will dramatically increase due to the increasing demand.
Let's be more optimistic with bitcoin value and futuristic as well, the future is bright so it's good to have at least 1 bitcoin now.

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April 18, 2017, 02:49:54 AM
 #535

For me Yes bitcoin is money actually it is a virtual currency when we use in many transaction that means we use it as our money for exchange for services or to buy things in the market where they accepting bitcoins. But we can also exchange bitcoin for money we know that bitcoin cost a thousand dollars and thats a lot of money.
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April 18, 2017, 03:07:05 AM
 #536

There are only one answer in this thread and one question to answer the question on the title.Is bitcoins use for payment for an medium of exchange?yes is the answer right therefore bitcoins is money just like usd and other fiat currencies around the world.
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April 18, 2017, 03:28:18 AM
 #537

Bitcoin isn't money unless the Government says it is. We would have have to wait till the Government approves Bitcoin.

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April 18, 2017, 03:36:48 AM
 #538

Bitcoin is a money but in a digital form as you can exchange it to real money and you can also buy goods from it moreover you can also receive and send funds across the globe which puts it in the same category of real money.

I agree. Smiley Bitcoin is a money but in form of digital. Just like the real money, you can buy some things like food, clothings or appliances using bitcoin. And sometimes in some place or establishments bitcoin is accepted. Just like in starbucks that accepts bitcoin as a payment.  Bitcoin nowadays has a very helpful hand of real money.

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April 18, 2017, 05:30:38 AM
 #539

Yes, there's no doubt that bitcoin is a real money itself. And we aren't going to be here if bitcoin doesn't have a real value of money or it doesn't have to be considered as money. But because it is a real money we are in it and treating it also as an investment while we are using it for trading and buying other stuffs online.

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April 18, 2017, 07:05:15 AM
 #540

Bitcoin isn't money unless the Government says it is. We would have have to wait till the Government approves Bitcoin

Are you a government (the Government) employee?

If so, then I prompted to ask a question, why are you enrolled in a signature campaign? Or, maybe, you are just one of group of paid shills that are roaming the forum in massive numbers nowadays? I guess you should put your money (that should obviously be bitcoins) where your mouth is. In other words, if Bitcoin is not money, all altcoins have even less footing to be called money. So what are you doing here then?

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