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Author Topic: Is Bitcoin money?  (Read 101078 times)
slapper
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May 02, 2017, 03:30:08 PM
 #681

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.
You should save as many Bitcoin as you can because it is not only a type of money but it also treasure, technology, and potential. I have more than 10 Bitcoin right now and I will try to earn more. Perhaps I will have 20 bitcoin at the end of 2017


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May 02, 2017, 03:36:42 PM
 #682

Bitcoin is a virtual currency and an investment opportunity. It's hard to call real money, but you can make good money on it.
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May 02, 2017, 03:40:09 PM
 #683

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.

+1 agreed.  It's a commodity, a digital store of value.


That is what I thought too and you got nothing to hold on to. Unlike gold which got a physical thing. This one is really risky but awesome when it comes to volatiliity.

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May 02, 2017, 03:47:45 PM
 #684

Bitcoin is a virtual currency and an investment opportunity. It's hard to call real money, but you can make good money on it.
Bitcoin is being used for many purposes and it can be both virtual currency and an investment. And moreover, it can be a type of safe which help us to secure our money and protect it from being harmed and stolen by physical damage and people

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May 02, 2017, 06:06:21 PM
 #685

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.

I also treat bitcoin as a money and as well as gold. But as you said, it is changing the lifestyle of an individual from nothing to something.

But it depends on how much or how many bitcoin he is holding, if he holds two digits up to thousands of bitcoin then that will make him pretty rich.

And that person will not think about his future already because he has the money now, he's going to think on how he can remain that wealth or grow it.

He will not think about working anymore because he is abundant in money already.



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May 02, 2017, 06:25:57 PM
 #686

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.
We can all agree on the fact that bitcoin is a currency but most of us don’t treat it as such, because us bitcoin users think of it as a type of investment for the most part like gold, we earn it we save it and we hope for the price to go up, and that is the good thing about bitcoin is that it could be used the way you want it, whether to save or spend it.

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May 02, 2017, 07:11:32 PM
 #687

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.
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May 02, 2017, 08:04:22 PM
 #688

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.
What do  you mean by saying that the bitcoin performs the functions of gold?
For me and Im sure that also for big amount of people, gold is a thing that may be very useful in the event of ongoing crisis, or some kind of a territorial conflict.
In some cases, that is a crucial factor for some people when it comes to choosing the asset. You cannot really hope that bitcoin will be useful if there will be a war in your country, because nobody will really accept BTC payment in a big danger.
When gold is always something that many people are willing to pay you a lot for it, there is no problem in converting it into food or needed resources.

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May 02, 2017, 08:37:37 PM
 #689

btc is money
is dollar money  Huh
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May 02, 2017, 09:18:40 PM
 #690

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.

I agree it's tempting to see bitcoin just as an asset. But i've use bitcoin as a currency too. So yeah it's not only a fact that bitcoin is a currency but it's also how  you treat it.
Buying stuff will give you the feeling of how it is money and believe me there is plenty to buy with bitcoin.
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May 02, 2017, 10:45:29 PM
 #691

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.

I agree it's tempting to see bitcoin just as an asset. But i've use bitcoin as a currency too. So yeah it's not only a fact that bitcoin is a currency but it's also how  you treat it.
Buying stuff will give you the feeling of how it is money and believe me there is plenty to buy with bitcoin.
I think that it doesnt really matters if you think that bitcoin is more as an asset than a currency or money, but these answers don't change anything.
As far as I know, bitcoin may bring many great possibilities for anyone, thanks to the availablity on the whole planet.
All you need to use BTC is being connected to the internet, and probably a way to buy BTC, so a bank account.
There is no problem to make payments to your friends or financial partners in bitcoins, this is comfortable in most cases for the both sides of the transaction.

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May 03, 2017, 06:39:43 AM
 #692

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.
We have different understanding but for me it's money because it has a value and more valuable than fiat.
When I have a lot of bitcoins, I will think I am rich because it's money that I am holding.


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May 03, 2017, 07:32:00 AM
 #693

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.
You should save as many Bitcoin as you can because it is not only a type of money but it also treasure, technology, and potential. I have more than 10 Bitcoin right now and I will try to earn more. Perhaps I will have 20 bitcoin at the end of 2017
When it is said that Bitcoin is the future of money, the real meaning is that Bitcoin should have the capacity to be everything we know of money and much more. That is why we can see Bitcoin as a commodity like old, a currency like the fiats and a stock like Apple. The  money of the future indeed has to be many things in one to be able to fit into the economy of the future.

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May 03, 2017, 07:38:29 AM
 #694

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.
We have different understanding but for me it's money because it has a value and more valuable than fiat.
When I have a lot of bitcoins, I will think I am rich because it's money that I am holding.

If you have a lot of gold you will think you are rich as well, but gold is not money, right? It is money if you are spending it on your daily expenses. But if you are just holding it, then it just becomes an investment.

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May 03, 2017, 07:39:33 AM
 #695

Without any doubts, bitcoin is money for me. It takes a posibility to bye some kinds of goods and services. But it's not only money. It's like a stocks, a good type of investment.

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May 03, 2017, 07:50:37 AM
 #696

Hundred of years ago, people don't have coins and paper money with them, what they have are goods to trade to merchants coming from other countries, like furs, herbs and other local products, it functioned like money but its not money. Fast forward today we have coins and bank notes that we use as money to buy things that we want, can we still buy using furs and herbs, no. What about Bitcoin, can we walk in a store and buy using Bitcoin, depends if they accept Bitcoin but if they do then Bitcoin "functions" just like money and besides you buy them using your money or you get paid with Bitcoin for services.

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May 03, 2017, 09:55:08 AM
 #697

Is bitcoin money? I think better than money. because with bitcoin can avoid inflation, currently save money same with store numbers, just look good but not worth it.

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May 03, 2017, 06:48:29 PM
 #698

Is bitcoin money? I think better than money. because with bitcoin can avoid inflation, currently save money same with store numbers, just look good but not worth it.

What do you mean by not worth it? Are you trying to say that its not worth to have bitcoins in wallet or it is just a waste of time and money and if you have that feeling then you are totally wrong as bitcoin is a future of money.

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May 03, 2017, 07:58:36 PM
 #699

Bitcoin is a digital money but its same as real money as we can earn it in different ways and also use it for buying goods like paper money so the features of bitcoin are similar to that of real money.

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May 05, 2017, 12:05:34 PM
 #700

    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?





    I think bitcoin is money because you can but the things that you want in online market.Bitcoins are commonly use in many transaction like business, investing, and trading so I think the bitcoins is money.

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