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Author Topic: Is Bitcoin money?  (Read 110598 times)
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June 02, 2017, 12:32:17 AM
 #941

It is money from the moment you can buy anything with them.
           The only problem I see is the volatility it has, Will not leave a massive adoption.
Not entirely true, there are many people that do barter, and buying something through barter does not mean that the services or products you get through other services and products are money, in the show pawn stars that happens sometimes, someone wants to sell something and in exchange instead of taking the money they accept another product.
It seems to me that it's a waste to pay bitcoin to buy something right now. I expect prices to rise several times at all and then there will be many more opportunities.
Buying with bitcoin seem like it is not the best idea, especially if we are talking about a big purchase, if you spend a few mBTC then that is not much of a problem but if you need to spend many bitcoins then it is better that we use fiat instead.

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June 02, 2017, 02:06:19 AM
 #942

In my opinion, bitcoin we can equate with gold or silver in terms of trade, gold and silver in ancient times used for exchanges, can be in the mine and the price is quite fluctuative. Can also be said bitcoin as money but I think less precise, more appropriate as a commodity exchange
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June 02, 2017, 02:13:33 AM
 #943

In my opinion, bitcoin we can equate with gold or silver in terms of trade, gold and silver in ancient times used for exchanges, can be in the mine and the price is quite fluctuative. Can also be said bitcoin as money but I think less precise, more appropriate as a commodity exchange
I agree with you, bitcoins is good be called gold, silver or instrument of Investment. We can trade bitcoins to fiat and other altcoins on exchangers. I don't agree if bitcoins is money at least this time because there are fees transaction must be paid by users and that is not good be used as money, money never take fees. Today bitcoins is not money especially for a little amount payment in bitcoins.
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June 02, 2017, 02:28:57 AM
 #944

Bitcoin is also like money for me, because we can buy online, we can buy load, we can purchase online things so this is also money, I think online money that we can called it. Generally we earn bitcoin because we want to have our extra income or savings so it also a money.



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June 02, 2017, 02:40:05 AM
 #945

By now we can pretty much agree that bitcoin is money. The ultimate, and perhaps last, test will be how it copes with scaling issues. If bitcoin can survive a hard fork, or the debates surrounding such a fork, then it is here to stay.


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June 02, 2017, 02:57:37 AM
 #946

I think the bitcoin better than money and gold, this is because the value of bitcoin always go up and never down, money will decline because of inflation, gold is moving slowly so that bitcoin is more than money and gold.

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June 02, 2017, 03:25:45 AM
 #947

I think the bitcoin better than money and gold, this is because the value of bitcoin always go up and never down, money will decline because of inflation, gold is moving slowly so that bitcoin is more than money and gold.

For your information on May 25, the price of bitcoin hit an all-time high of $2760 average across global exchanges. A few hours later the price took a downturn seeing a five leg drop to a low of $2221 per BTC. If you compare Bitcoin to Gold its has an advantages and also disadvantages, Bitcoin now a day is good source of income and also to invest.
That's why For me Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. Others get paid in Bitcoin and use it to shop online. Bitcoin is more than a system to store and transfer value from one person to another.


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June 02, 2017, 06:55:19 AM
 #948

yes its money because basically, the function is same like a real money. bitcoin is digital money, you're cant see it but you're can use it. you're can buy anything want. they are both the same, the same function for trading.

In a way, yes, but it is not "Money" of "Fiat" at all. We are only thinking that it is a money because we could earn fiat through bitcoin by converting it to cash, but it is a virtual money, the money that we do use online, to buy stuffs, something like that. But yes, they are just the same---money but into different world. The only thing about bitcoin is you could earn a lot money from it than earning fiat.
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June 02, 2017, 07:28:20 AM
 #949

Yes! Bitcoin is definitely money. We can trade it, sell it, deposit it and gain a lot of profit from holding on to Bitcoin. The very best part is that we can sell Bitcoin by converting it into cash then withdrawing to our bank accounts.
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June 02, 2017, 07:31:26 AM
 #950

Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. These currencies are like Rupiah or Dollar, but are only available in the digital world. The concept may sound like eGold, though it is actually much different.
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June 02, 2017, 07:37:35 AM
 #951

Yes! Bitcoin is definitely money. We can trade it, sell it, deposit it and gain a lot of profit from holding on to Bitcoin. The very best part is that we can sell Bitcoin by converting it into cash then withdrawing to our bank accounts.

Your second and third sentences contradict your first, money means you are spending it directly for goods and services but what you have described is an asset which is nothing like money. I agree with all you said except the part where you say its money.
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June 02, 2017, 08:12:58 AM
 #952

As long you can use bitcoin for transacting with other people and use it as a payment then it is money.

Money is something that we are using for exchanging goods and services and with bitcoin, we are doing the same thing.

So bitcoin is a real money to all of us.

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June 02, 2017, 08:31:04 AM
 #953

Bitcoin is intended to be used as money. The extent to which it differs from the various definitions of money is primarily due to its unpopularity and lack of government sanction, which in my opinion should not matter when speaking about it as "money."
based on the price of the high value of bitcoin happening for now, thus many countries developed countries are now using bitcoin as their money but not yet officially if I'm not mistaken as Japanese and they admit if bitcoin as money virtal

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June 02, 2017, 08:37:46 AM
 #954

As long you can use bitcoin for transacting with other people and use it as a payment then it is money.

Money is something that we are using for exchanging goods and services and with bitcoin, we are doing the same thing.

So bitcoin is a real money to all of us.

Bitcoin is not a money, bitcoin is a currency, a digital currency. Money and currency has different meanings but can be used as a payment maybe online or offline. Money refers to gold andsilver, in the past it is gild coins and silver shillings, pearl is also one. Currency is what we call paper money, so if we say digital currency, it is a digital paper money. So bitcoin is a money?No, it is made or printed under the command of the government, It is centralized and it is not volatile.
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June 02, 2017, 08:38:17 AM
 #955

Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. These currencies are like Rupiah or Dollar, but are only available in the digital world. The concept may sound like eGold, though it is actually much different.
Bitcoin is now used in many countries. But its development is still hampered by regulation issued by the government, bitcoin as it is still scary because now the price movement of bitcoin has high fluctuation.

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June 02, 2017, 11:15:08 AM
 #956

Bitcoin is also like money for me, because we can buy online, we can buy load, we can purchase online things so this is also money, I think online money that we can called it. Generally we earn bitcoin because we want to have our extra income or savings so it also a money.

Yes I agree with you that it is a money, it is indeed a money only that it is virtual.  It is not tangible yet you can buy things online like buying using money but without hassle.  No need to input many details like name, address, contact nos, etc.  All you need is the bitcoin unique address.  Plus just like money you can invest it, save it, or trade it.  Only the difference is its value or price.  It is not constant.

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June 02, 2017, 12:29:33 PM
 #957

Bitcoin is also like money for me, because we can buy online, we can buy load, we can purchase online things so this is also money, I think online money that we can called it. Generally we earn bitcoin because we want to have our extra income or savings so it also a money.

Yes I agree with you that it is a money, it is indeed a money only that it is virtual.  It is not tangible yet you can buy things online like buying using money but without hassle.  No need to input many details like name, address, contact nos, etc.  All you need is the bitcoin unique address.  Plus just like money you can invest it, save it, or trade it.  Only the difference is its value or price.  It is not constant.
Yeah the price is the only concern in bitcoin because it is not fixed so there is a possibility for us to lose money anytime because the market is not centralized so the price is only depending on the demand in the market but it is also a good characteristic especially for the traders because we can take advantage of that to make money.

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June 02, 2017, 07:41:59 PM
 #958

yes its money because basically, the function is same like a real money. bitcoin is digital money, you're cant see it but you're can use it. you're can buy anything want. they are both the same, the same function for trading.


In a way, yes, but it is not "Money" of "Fiat" at all. We are only thinking that it is a money because we could earn fiat through bitcoin by converting it to cash, but it is a virtual money, the money that we do use online, to buy stuffs, something like that. But yes, they are just the same---money but into different world. The only thing about bitcoin is you could earn a lot money from it than earning fiat.
They are both counted as money in just one world, I don't know where you are getting your statements but I have a different view on this kind of matter. The second thing I like to point out is it is counted as money not only because we can earn it online but also we can use it directly as a payment option for both online and in-store transactions. Proving that Bitcoin itself without being converted to Fiat currency has the same functions as a paper money.

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Gens09
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June 02, 2017, 11:34:46 PM
 #959

Surely it is sounds like money but it is really a money bitcoin is a cryptocurrency like what we all know a digital currency where we can use to buy thing online but not in all shop today because it is not fully adopt in many countries and still in the process of adaptation in the market.


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sunsilk
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June 03, 2017, 07:15:53 AM
 #960

As long you can use bitcoin for transacting with other people and use it as a payment then it is money.

Money is something that we are using for exchanging goods and services and with bitcoin, we are doing the same thing.

So bitcoin is a real money to all of us.

Bitcoin is not a money, bitcoin is a currency, a digital currency. Money and currency has different meanings but can be used as a payment maybe online or offline. Money refers to gold andsilver, in the past it is gild coins and silver shillings, pearl is also one. Currency is what we call paper money, so if we say digital currency, it is a digital paper money. So bitcoin is a money?No, it is made or printed under the command of the government, It is centralized and it is not volatile.

People are changing the terms when it comes to currency or money. But if you will understand with it, currency and money is just the same.

Money is being used for buying goods and things that we need and in return for purchasing it, money is what we use.

Currency is the money used by a country, so for me it's just the same and they have no other meaning.

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