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Author Topic: Is Bitcoin money?  (Read 108213 times)
freedomgo
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April 30, 2017, 03:22:21 AM
 #621

It represents the value of products. You can do anything with it what you can do with your national currency. Some companies even have this option to take your salary in BTC. If you work for money, BTC is money too.
Yes, I agree, but bitcoin is more than money, when we talk about the price and other different ways. So generally bitcoin is like money. We can spend it and use it like we want without any problem. but i think the difference only for the value or maybe when we talk about crypto and physical currencies.
Bitcoin is more than a money to me, I mean more than fiat because it gives more value of our savings. In the future the value will grow and holders will be most likely be benefited on it. It has a big value so it's a clear money, and in fact I am accumulating more bitcoins for my future because I don't think the value will fall in the long run.

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April 30, 2017, 06:51:23 AM
 #622

Bitcoin is virtual money because it can to transact in the sale and purchase of goods or in other words can as a means of payment. If it meets the element like that I think it can be called money

I don't agree with this. As you said, Bitcoin is a virtual money. When we say money, it should have a physical form and value. It has a value but no physical form. I think the proper term is currency. Bitcoin is a Digital Currency.

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babysweetTiger0401
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April 30, 2017, 09:01:45 AM
 #623

Bitcoin for me was an answered prayer to me, I know and I believed that bitcoin is the key to achieve all my dreams
in life, in terms of financial, part time income, business, Assets, and Savings. Wink

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April 30, 2017, 09:09:15 AM
 #624

Bitcoin for me was an answered prayer to me, I know and I believed that bitcoin is the key to achieve all my dreams
in life, in terms of financial, part time income, business, Assets, and Savings. Wink
There is no doubt that bitcoin will be the answer to most of our prayers like the solve to our financial problems. It is good for us that we already started doing bitcoin even we can consider that the price is high now but soon it will be higher and we got the advantage which is implementing the bitcoin into our life in a way earlier.

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April 30, 2017, 09:11:36 AM
 #625

Bitcoin for me was an answered prayer to me, I know and I believed that bitcoin is the key to achieve all my dreams
in life, in terms of financial, part time income, business, Assets, and Savings. Wink

nice, i thought of it that way too. Bitcoin doesn't really i thought it could be , it does way that are easy to understand and easy to use. It will be helpful once it we get learn a lot from it, soon we can reach our dreams with bitcoin.

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April 30, 2017, 11:49:00 AM
 #626

Yes bitcoin is an electronic money. Through bitcoin you can convert it on what currency of money do you have. Example for me I am here at Philippines so my bitcoin is converted to the Philippine peso . It is really helpful because I believe time will come that bitcoin will succeed and will be use globally as an electronic money.

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April 30, 2017, 11:52:08 AM
 #627

maybe bitcoin the same a gold?

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April 30, 2017, 12:24:01 PM
 #628

Yes and no Smiley
For example, I recently heard from one company in my country, that they don't pay value added tax on buying or selling bitcoins.
The tax exemption they received on the basis of taxpayer's opinion that bitcoin is a banknote which is normally not used as a statutory payment instrument.
So, central bank in my country didn't recognize bitcoin as official currency and for tax office bitcoin is not legal way of payment, but they accepts that bitcoin is currency in some way.





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April 30, 2017, 01:41:03 PM
 #629

Yes. bitcoin extended meaning of money. Traditionally money like a gold coins has saving function when new generations of people may spend them in few decades from ancestors death by inheritance. Cost true money increase by time. modern fiat money inflate too fast and we must spend them on realty for good safety. But realty not reliable too....

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April 30, 2017, 01:58:21 PM
 #630

It represents the value of products. You can do anything with it what you can do with your national currency. Some companies even have this option to take your salary in BTC. If you work for money, BTC is money too.
Yes, I agree, but bitcoin is more than money, when we talk about the price and other different ways. So generally bitcoin is like money. We can spend it and use it like we want without any problem. but i think the difference only for the value or maybe when we talk about crypto and physical currencies.
I think bitcoin is not money, it's actually a commodity product, a digital product of great value. People often call it virtual currency, which is not wrong, but its essence is the product, it can be converted into cash. All material (including digital), when placed in any denomination, is a product, it can be used for sale. So, it is not money.

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April 30, 2017, 02:14:37 PM
 #631

For me bitcoin is a money since you can convert bitcoin into Dollar etc
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April 30, 2017, 02:17:17 PM
 #632

It's rising in value and you can use it now for almost anything. I don't earn any fiat as I don't have a job. For myself earning some bitcoin and altcoins has given me the capacity to feel useful again. I class Bitcoin a better alternative to fiat and class it as real money.

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Mbah Tyo
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April 30, 2017, 02:17:31 PM
 #633

Bitcoin is money but in the type of crypto currencies, I call money because it can be used to transact in terms of our daily lives

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April 30, 2017, 02:30:26 PM
 #634

maybe bitcoin the same a gold?
Not maybe. Bitcoin is digital gold and it has many things alike to gold than to fiat. I see that you are a newbie here. My advice to you is to read thread for newbies on the forum. this way you will find a lot of information about bitcoin which will help you to understand what bitcoin really is. I wish you lot of luck in the bitcoin's world Smiley

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April 30, 2017, 02:40:29 PM
 #635

Bitcoin is money but in the type of crypto currencies, I call money because it can be used to transact in terms of our daily lives

it is digitally money, we can use it on doing transactions and payments for some basic needs like electricity and water,though if it refer to being use in daily life,I think there's a need for cashing it out first since few shops accepts bitcoin.



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April 30, 2017, 02:43:15 PM
 #636

No.

To be honest we can say it as COMMODITY.

As per consideration of inflation of price of bitcoin we cannot use bitcoin as money or as asset for exchange.

As Bitcoin is programmed in manner, we must have to think for future. As many new altcoins as Dogecoin, ETH, Litecoin, Ripple, Stellar and few other are being used  for micro transactions globally. So...

Saving Bitcoins can give good returns in future as comparing to fiat currency globally.

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April 30, 2017, 03:11:23 PM
 #637

People can use bitcoin for shopping. Bitcoin is a digital currency.
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April 30, 2017, 10:52:04 PM
 #638

Bitcoin is money but in the type of crypto currencies, I call money because it can be used to transact in terms of our daily lives

it is digitally money, we can use it on doing transactions and payments for some basic needs like electricity and water,though if it refer to being use in daily life,I think there's a need for cashing it out first since few shops accepts bitcoin.

Yeah bitcoin can be used like paper money so I don't that there is any difference between bitcoin and real money as you can use it for online shopping and you can also use it at physical places by converting them to fiat currency so it has the same features that paper money has.

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April 30, 2017, 11:03:26 PM
 #639

Can actually someone may explain me why some people do not consider bitcoin as money?
For me, there is no difference, except this one that BTC is only something digital, used in the Internet for a payments. But there are obviously more things to do with it.
Personally, I love the opportunities that bitcoin has given to every single person: you can just pay your friend through the web without any problem at all.

I have had such a situation, where my friend from abroad have made me some kind of a graphics. Using bank transfer system would be annoying, and I have payed him almost instantly with bitcoin!

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April 30, 2017, 11:03:55 PM
 #640

Bitcoin is money but in the type of crypto currencies, I call money because it can be used to transact in terms of our daily lives

it is digitally money, we can use it on doing transactions and payments for some basic needs like electricity and water,though if it refer to being use in daily life,I think there's a need for cashing it out first since few shops accepts bitcoin.

Yeah bitcoin can be used like paper money so I don't that there is any difference between bitcoin and real money as you can use it for online shopping and you can also use it at physical places by converting them to fiat currency so it has the same features that paper money has.

Not really it is same with fiat money, Bitcoin is a Digital Currency which is not regulated by the Government. Not like fiat money, we consider it as a money because the government say so. And if we don't like it anymore, it has no value. But, the functions of Bitcoin and fiat has similarities, we use money in exchange with the services rendered to us to pay for that, and so with Bitcoin. We use money for buying/selling goods etc, and so with Bitcoins. We exchange our money with different currency, and so with Bitcoin.

Based on that, I can say that Bitcoin is money since we are using it in every transactions that we are doing online. Although we cannot use it everywhere. Soon and very soon it will be possible.

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