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Author Topic: Is Bitcoin money?  (Read 108224 times)
romero121
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April 18, 2017, 06:50:44 PM
 #561

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.

I dont agree with your statement. Even if bitcoin is not used everywhere and not being accepted by all the govt. yet,  this does not mean it is not a currency. If USD is used less, will you say it is not a currency  Grin
Bitcoin is a currency of course and no one can deny this fact.
Yeah same as every currency it has got its value. That too higher than any other currencies, so it can be considered as a currency. Another thing is that bitcoin has got different usages, one among that is the payment of bills. So when we get increased spending chance people accept it as money.

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April 18, 2017, 06:52:04 PM
 #562

As per your concerns, there are a few things which I would like to make you clear.
Bitcoin, tbh, should really not be considered as money, but something that has been given a monetary value in terms of usage for anything from goods to services and as there is too much speculation in this, it can be termed as an "investment instrument" or "asset" or "stock" that gets traded for the purpose of making profits. Trust me, most people are in Bitcoins just to grow their capital, having more Bitcoins means having more "money" in your pockets due to its value, but still it cannot be termed as money.

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April 18, 2017, 06:56:12 PM
 #563

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.

If Bitcoin is accepted by a country, it will not be a non-centralized or uncontrolled system. Official money means that one country or a government can intervene in a marketplace, value of the currency etc etc. It is completely contrary from the manifesto of Bitcoin.

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April 18, 2017, 07:12:59 PM
 #564

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.

I dont agree with your statement. Even if bitcoin is not used everywhere and not being accepted by all the govt. yet,  this does not mean it is not a currency. If USD is used less, will you say it is not a currency  Grin
Bitcoin is a currency of course and no one can deny this fact

This is in fact debatable

As I would say in such cases, money is what money does. And does here refers to money being used as money. If something has all required qualities and prerequisites to be a currency (say, Bitcoin) and it was even conceived to be used as a currency, we still can't say that it is a currency. In other words, the primary criterion is usage, and alas, Bitcoin doesn't cut it quite well as a full-fledged currency. It is mostly used as a vehicle for speculation, and, what seems to be even more important here, most of its value comes from this usage specifically, not from using it as a means of payment or exchange, which is what makes something into money

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April 18, 2017, 07:20:49 PM
 #565

It is illegal here in the US to deface, destroy and alter money

Also, i think the concept of fiat being an IOU is way above your head

So you can't explain how the concept of fiat is related to an IOU

But somehow I'm not surprised. People which can't explain some concept in simple terms typically just don't understand it themselves, as simple as that. Regarding the US dollar specifically, it may be illegal to destroy, deface, and alter it as well as counterfeit it or whatever, but there is no Federal law that would demand any private business to accept dollars as a means of payment or even trade with you. In fact, any such business can just choose not to give a damn fuck about you. As I told you, go and read what the US Treasury department says on this issue. If you come to disagree, you may want to post a link to such a law



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April 18, 2017, 07:38:56 PM
 #566

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.

Tell that to Japanese Cheesy.  How about having an effort to google search what money is then see how Bitcoin is doing at this point.  Maybe you will be convinced that Bitcoin is money.  When it is used as payment method and/or acknowledged by even a single country as money then it is really a real money.

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April 18, 2017, 08:35:20 PM
 #567

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.

Tell that to Japanese Cheesy.  How about having an effort to google search what money is then see how Bitcoin is doing at this point.  Maybe you will be convinced that Bitcoin is money.  When it is used as payment method and/or acknowledged by even a single country as money then it is really a real money.

ya it is true that Bitcoin is a online web currency through which you can do all the things which you are doing through fiat currency. So it is called web currency which is good for online purchased and lot of other things can be done through bitcoins.

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April 18, 2017, 08:48:13 PM
 #568

It IS money.  If not, you can give your bitcoin to me.  Grin
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April 18, 2017, 09:36:53 PM
 #569

Bitcoin is a crypto currency, you can consider it money to a certain extent, but at the end of the day it's not ACTUAL money, it's more something you invest in which can make you earn real money.
Investing in crypto currencies is like buying something relatively cheap and reselling it to make profit in my opinion.
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April 18, 2017, 09:53:35 PM
 #570

Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.

But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
wait a minute here....you mean to say that because some counties do not accept bitcoin as ''official money'' is the reason it will not be considered as money?? I know for sure that some fiat currencies can not be exchanged or accepted in some counties but are still valid forms of money.

So just like bitcoin it has value just like any other currency out there despite not having a physical form and qualifies to be real money.

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April 18, 2017, 10:54:58 PM
 #571

I think right now bitcoins are more of an asset then money. To me it doesn't matter what form my spending power is in wiether it's in gold bitcoins or sticks. I'm just concerned for the value and how much it will increase so I use Bitcoin as I believe it has the best value then any other form of asset.

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April 18, 2017, 11:08:29 PM
 #572

It is illegal here in the US to deface, destroy and alter money

Also, i think the concept of fiat being an IOU is way above your head

So you can't explain how the concept of fiat is related to an IOU

But somehow I'm not surprised. People which can't explain some concept in simple terms typically just don't understand it themselves, as simple as that. Regarding the US dollar specifically, it may be illegal to destroy, deface, and alter it as well as counterfeit it or whatever, but there is no Federal law that would demand any private business to accept dollars as a means of payment or even trade with you. In fact, any such business can just choose not to give a damn fuck about you. As I told you, go and read what the US Treasury department says on this issue. If you come to disagree, you may want to post a link to such a law


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Don't waste your time responding to her. That's the only response she ever gives.

"i think the concept of FILL IN BLANK being FILL IN BLANK is way above your head"

Go look at her post history to find out. I'm calling "it" her because that's a stupid bitch trick.

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April 18, 2017, 11:40:04 PM
 #573

I think right now bitcoins are more of an asset then money. To me it doesn't matter what form my spending power is in wiether it's in gold bitcoins or sticks. I'm just concerned for the value and how much it will increase so I use Bitcoin as I believe it has the best value then any other form of asset.

Most of us here they are both the same, it is money and at the same time assets and investments. And that's our main reason why we are here, because of the value / price of bitcoin, if there's no value then we aren't going to be here. But because it has a very good value just like real money which we can spend so we are here.

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April 19, 2017, 12:52:47 AM
 #574

No, Bitcoin is a currency used into digital world as payment to the digital or online services. But you can converted it into a real money, using the other banks that accept bitcoin as currency.

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April 19, 2017, 01:05:45 AM
 #575

Bitcoin is definitely money, it fits the bill for all the characteristics that you will like from money and even better bitcoin has better characteristics than what you will expect from fiat or gold.

Yeah Its rate turned value compared with one ounce of gold at last month. Still there is less number of people been adopted bitcoin and less number people using it globally when compare with fiat currencies. I do not know, why government does not started accepting bitcoin as its have these much of potential with it. hope bitcoin will be centralized money soon everywhere.
Bitcoin has the potential to change the world, but think about it governments like the way things are, they are very powerful why would they want for things to change when they are on the top, in fact they hate bitcoin because of it.


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April 19, 2017, 01:29:35 AM
 #576

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

I agree. Anything that is used to earn something by buying it is money. Bitcoin is a money because it helps us in many ways such as buying stuffs. Although it is digital yet it still money that buy things and just like money bitcoin is earn with hardwork. Bitcoin today is consider a money to all of people just like me because it is used as a medium of exchange.

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April 19, 2017, 01:34:29 AM
 #577

No, Bitcoin is a currency used into digital world as payment to the digital or online services. But you can converted it into a real money, using the other banks that accept bitcoin as currency.
Lol, bitcoin is also a money which can only used in online transaction because it is digital currency but you are right that we can do covert it to fiat to spend in offline stores.
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April 19, 2017, 01:35:03 AM
 #578

As long as people give value to bitcoin it is money.
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April 19, 2017, 01:36:41 AM
 #579

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

Bingo!

For me, Yes I consider bitccoin as a money because we just like what it says we use it as a medium of exchange. Many people nowadays use this bitcoin to buy things online because it makes transactions more easier and faster. Bitcoin is used by many people as a money, an alternative money in real money because as we can see bitcoin value is more high than the real money. But bitcoin is eaened because of hardwork and intelligent just like the real one.

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April 19, 2017, 01:50:47 AM
 #580

I would have to say that Bitcoin is definitely money. I use it to buy games and other things online. Just like paypal.

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