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Author Topic: Is Bitcoin money?  (Read 101061 times)
ashour
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May 01, 2017, 06:26:37 PM
 #661

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.

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May 01, 2017, 06:52:18 PM
 #662

Bitcoin can be used to send and receive money, I can also buy things using bitcoins can pay my bills and recharge my cell phone so for me its a money as after spending it I am getting the things that I want in return so for me both are the same form of money.

It has a lot of features, it is not just a simple digital money, it has also a feature of you can use it for sending and receiving. You don't have to use any other third party websites just for sending your balance but as long as you can send it to the right wallet then you are doing it the right way. I just recently used bitcoin by buying my prepaid load.
The government can make a fast system anytime they want since they have all the resources to do it but bitcoin as a money is different from the usual money, thus some people has a hard time understanding bitcoin. Bitcoin is decentralized which is awesome that we will not be in control of the government, it's value is not subject for inflation where usual money is, so it's an opposite and we like it because it's freedom as well.

Yeah bitcoin's decentralization is really good for us but not for the government. But once they are able to make some regulation about bitcoin and that is going to make the government interested with it because of taxation. And I know there are countries that are already putting tax to bitcoin which signifies that is a real money.
i think a time will come when government will also accept bitcoin as legal currency, but i think it will take a little more time. as we can see that the number of bitcoin users is continuously increasing which is making government to think about to turn bitcoin as legal currency. i also think that bitcoin is a decentralize digital currency which can be use both for online as well as in physical shops for shops without changing it in to fiat currency.



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May 01, 2017, 06:57:46 PM
 #663

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.
Well, you can buy anything with bitcoin, because bitcoin also serves as a medium of exchange on the internet, and its function is very similar to money, even can be said with money. But, bitcoin prices have a much higher price than money, so maybe biicoin is money equivalent to gold


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nethead
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May 01, 2017, 07:05:11 PM
 #664

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.
Well, you can buy anything with bitcoin, because bitcoin also serves as a medium of exchange on the internet, and its function is very similar to money, even can be said with money. But, bitcoin prices have a much higher price than money, so maybe biicoin is money equivalent to gold

Yes and I think bitcoin is better then gold when it comes to an investment as bitcoin will surely take over the gold in long run and it will give us much better returns on our investments which may not be possible with gold.
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May 01, 2017, 07:10:52 PM
 #665

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.
Yes, Here in our country Bitcoin is illegal but I can't remember having my little bit difficulties to use it and convert it to our fiat money. So when there have possibly changed your own money against of any currency, you are free to say that Bitcoin is real money.

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May 01, 2017, 07:13:43 PM
 #666

It is clear that bitcoin can be used as money in terms of transactions. I think that anything that people been used in terms of transaction is equally a money.
So whether people like or not bitcoin is a money.

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May 01, 2017, 07:14:50 PM
 #667

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.
Nah you are a bit missunderstanding bitcoin isn't money because we need to exchange our local currency first for get bitcoin or sell bitcoin first to get money. IMO what it's mean with money is paper money not digital currency.

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May 01, 2017, 08:30:29 PM
 #668

I am buying almost everything with bitcoins and I can even send them and receive them in my wallet like real money so its definitely money to me as I am getting the goods in exchange of my bitcoins.
Nah you are a bit missunderstanding bitcoin isn't money because we need to exchange our local currency first for get bitcoin or sell bitcoin first to get money. IMO what it's mean with money is paper money not digital currency.

Lol, care to think of this, your campaign owner pay you with bitcoin for your service right?  So from the definition of money, bitcoin does fits it.  Aside from that, there are lots of online store that accept  bitcoin as payment for their goods, that resembles money right?  Then Japan and Philippines announces that bitcoin is money, I bet you won't argue with that.  Then west Virginia is considering bitcoin as money since the properties of money can be seen in bitcoin.  Now tell me, what argument you have to say bitcoin is not money, because if this is your argument

Quote
Nah you are a bit missunderstanding bitcoin isn't money because we need to exchange our local currency first for get bitcoin or sell bitcoin first to get money

Then in my country I can say USD is not money because I need to convert it to my local currency to spend it.

by the way if this is your definition of money

 
Quote
IMO what it's mean with money is paper money not digital currency

then coins (metal money)  are not money then.

Harry Callahan
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May 01, 2017, 08:35:50 PM
 #669

Yes and I think bitcoin is better then gold when it comes to an investment as bitcoin will surely take over the gold in long run and it will give us much better returns on our investments which may not be possible with gold.
Speculation is that bitcoin could over come the price of gold pretty soon because of the nature of bitcoin and it is limited in nature and with more user flocking into it ,the price is bound to increase with every investments and that wont be the case with gold,gold had its run a few years back when it had a good rally and people made the most out of that market and now it is the chance of bitcoin market to shine and remember gold is just a commodity where as bitcoin can be termed as a currency as well as a commodity.
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May 01, 2017, 08:42:22 PM
 #670

Yes and I think bitcoin is better then gold when it comes to an investment as bitcoin will surely take over the gold in long run and it will give us much better returns on our investments which may not be possible with gold.
Speculation is that bitcoin could over come the price of gold pretty soon because of the nature of bitcoin and it is limited in nature and with more user flocking into it ,the price is bound to increase with every investments and that wont be the case with gold,gold had its run a few years back when it had a good rally and people made the most out of that market and now it is the chance of bitcoin market to shine and remember gold is just a commodity where as bitcoin can be termed as a currency as well as a commodity.
In some cases, your answer I can disagree. The fact is that the most important argument in favor of gold is the smaller risk of losing your deposits. No one will argue with the fact that Bitcoin is always at risk. But only that Bitcoin is a virtual currency neither to touch, nor to see, it is air unlike gold.
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May 01, 2017, 08:50:45 PM
 #671

Yes and I think bitcoin is better then gold when it comes to an investment as bitcoin will surely take over the gold in long run and it will give us much better returns on our investments which may not be possible with gold.
Speculation is that bitcoin could over come the price of gold pretty soon because of the nature of bitcoin and it is limited in nature and with more user flocking into it ,the price is bound to increase with every investments and that wont be the case with gold,gold had its run a few years back when it had a good rally and people made the most out of that market and now it is the chance of bitcoin market to shine and remember gold is just a commodity where as bitcoin can be termed as a currency as well as a commodity.
I think that you might forgot about the very important fact: the bitcoin price already exceeds the current value of gold.
Especially nowadays, when we have seen such a big rise on the BTC/USD chart. It has gone up from 1200-1250 to 1330 (with 1377 all-time high) and really shortly after that, BTC just went straight on to 1420$ area.
I really did not expect such a high burst of the BTC price especially in the times when we see many disadvantages of bitcoin. There are many problems with blockchain network bandwitdth, I even have that trouble currently: my transaction did not get confirmed after 5 hours, when the fee is exactly 0.00035 sats. All that uncertainity is a little bit annoying for every BTC user.














 

 

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May 01, 2017, 09:09:32 PM
 #672

Bitcoin is also a money and also an investment for me so I don't like to treat it as a money as I have fiat money to take care of my expenses so most of my coins I save for the future to get best returns on my investments.

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May 01, 2017, 10:52:42 PM
 #673

Bitcoin can be used to send and receive money, I can also buy things using bitcoins can pay my bills and recharge my cell phone so for me its a money as after spending it I am getting the things that I want in return so for me both are the same form of money.

It has a lot of features, it is not just a simple digital money, it has also a feature of you can use it for sending and receiving. You don't have to use any other third party websites just for sending your balance but as long as you can send it to the right wallet then you are doing it the right way. I just recently used bitcoin by buying my prepaid load.
The government can make a fast system anytime they want since they have all the resources to do it but bitcoin as a money is different from the usual money, thus some people has a hard time understanding bitcoin. Bitcoin is decentralized which is awesome that we will not be in control of the government, it's value is not subject for inflation where usual money is, so it's an opposite and we like it because it's freedom as well.

Yeah bitcoin's decentralization is really good for us but not for the government. But once they are able to make some regulation about bitcoin and that is going to make the government interested with it because of taxation. And I know there are countries that are already putting tax to bitcoin which signifies that is a real money.
i think a time will come when government will also accept bitcoin as legal currency, but i think it will take a little more time. as we can see that the number of bitcoin users is continuously increasing which is making government to think about to turn bitcoin as legal currency. i also think that bitcoin is a decentralize digital currency which can be use both for online as well as in physical shops for shops without changing it in to fiat currency.

I believe that this is going to happen one day, imagine that if there are people that are using bitcoin to a certain country and the government founds out that they are not paying tax and they have a lot of transactions daily and they are earning millions because they don't have law for it. What do you think will happen? The government will be forced to adopt.

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May 01, 2017, 11:14:26 PM
 #674

Based on my own Bitcoin isn't money it always needs to convert or exchange into fiat before it becomes moneyi believed that bitcoin is ditigal currency only that can used through internet however this is the way on how we can get money for trading and investments also can be done with transactions world wide with less fee's

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May 01, 2017, 11:30:10 PM
 #675

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

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May 02, 2017, 01:50:14 PM
 #676

In my own point of view i consider bitcoin as a real money because you can use it to pay all your expenses at your homes and you can use it to buy the things you wanted in online shopping. Bitcoin is a real money even it is not accepted by the government but because you can also convert it to make it into a real money. We can consider bitcoin as an online money.

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May 02, 2017, 02:04:24 PM
 #677

In my own point of view i consider bitcoin as a real money because you can use it to pay all your expenses at your homes and you can use it to buy the things you wanted in online shopping. Bitcoin is a real money even it is not accepted by the government but because you can also convert it to make it into a real money. We can consider bitcoin as an online money.

Bitcoin is something that has monetary value and at the same time, it posses the characteristics of the ideal characteristics of the money (a medium of exchange etc). We can exchange it, we can divide it into smaller parts, it has mutual trust and so on. However, it is still not a currency because not everyone is using it today. Those who have no idea about bitcoin might refuse to accept it even if they are in the area where bitcoin is legal. It is a long-term battle, not only with the govt policies but also with such obstacles.

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May 02, 2017, 02:10:26 PM
 #678

Bitcoin is also a money and also an investment for me so I don't like to treat it as a money as I have fiat money to take care of my expenses so most of my coins I save for the future to get best returns on my investments.
As quoted bitcoin have got multipurpose usage. Each gives preference based on the way they consider it. Probably most consider it an investment for a better future. I too save it as much possible through different sources available as it gives spending as well earning accessibilities.



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May 02, 2017, 02:17:36 PM
 #679

Yes,since bitcoin is like a piece of gold,then it produces money.It changes the lifestyle of an individual from nothing to a wealthier person.It can sustain our daily needs from the rewards we gained from it.
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May 02, 2017, 02:39:00 PM
 #680

Seeing from the rapidly changing bitcoin price movement then I say that bitcoin is not just a currency. Bitcoin can be called an investment, because by having bitcoin we can easily benefit when there is a rise in bitcoin prices in the world market.



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