Is Bitcoin money?

[Gaaara]

today bitcoin can be called as a currency. bitcoin has a value which is fantastic. some institutions and large companies were already using bitcoin. This is a positive value for bitcoin use in their daily lives.

Yeah and that is kind of a problem also. It is considered as a currency so those who are on top of this industry may want to take it down.
There is a lot of movement also unlike other currencies which moves like worms into slowness.
That kind of technology is kind of different to them and it might scare other countries.
Well for now, it is way going down in price. I am thinking someone or something is behind to all of this.

Woah, I think you're exaggerating mr. Detective, I don't know if BU does have any relation to the BTCs price, but as of now it is just normal it happens before and every bitcoin users knows that it doesn't have any stability which is actually the reason why bitcoin has so much demand, many bitcoin users is getting a huge profit just because of the unstable price of it. Why not just enjoy and buy a lot while it lasts.

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[Trongersoll]

Bitcoin is really money it is like we are working on internet where we get profit from these gambling - trading - investment these three are good income if you really wanted to earn bitcoin maybe we should work hard for it. But since bitcoin is unstable price where bitcoin decrease fast we lose instant profit when we stocking coins. But it is okay it is part like paypal tho.

bitcoin is money according to me, whatever we can do with money same we can do with btc but with converting to money. according to me you can earn by gambling but it is not a easy thing to do because you might win or lose everything so be careful if you are going for gambling. trading if you want to do you must have good  analytical skill and you should have good knowledge of btc. safest way is to do some freelance project and then earning btc by it then converting it to real money you can fulfill your needs.

[Osarman]

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol

Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.

i do not think that bitcoin is available in few country because bitcoin is available in any where and bitcoin is now acceptable in anywhere for online shopping and i hope one day all people will adopt bitcoin as normal currency.

[FasTroy]

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol

Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.

i do not think that bitcoin is available in few country because bitcoin is available in any where and bitcoin is now acceptable in anywhere for online shopping and i hope one day all people will adopt bitcoin as normal currency.

I hope that too.
Nowadays, There is a good evaluation on bitcoin community. day by day many peoples enrolling this community. This is contribute of bitcoin growing. So maybe in the near future we can see a lot of shop that accept bitcoin like a payment method.
I maen real shops or maybe in restaurent we can pay with bitcoin. I think it's amazing.

[szpalata]

Bitcoin is money because it does everything that physical money does plus payment processing. I'm convinced that it's money and should be treated as such.

[virtualkeybuyer]

Bitcoin is money because it does everything that physical money does plus payment processing. I'm convinced that it's money and should be treated as such.

Yes it is already money but some people do no consider it as money because they are stick to their governments and they say what their governments tell to them. They also feel fear from it because they often find it hard in their local areas to exchange for fiat and fiat to bitcoin. But if they will find all the benefits they will say that bitcoin is money.

[gsrcrxsi]

Bitcoin is money because it does everything that physical money does plus payment processing. I'm convinced that it's money and should be treated as such.

Yes we use it like other currency for buying anything and if not we can always convert it to real money and it can be also sent in the form of money to your friends and relatives so for me bitcoin is genuinely a real money and better then real money as its also an form of investment.

[steampunkz]

In my opinion you can call a bitcoin another method of paying alternative of money. But more on online transaction i guest like in online shopping paying bills, online gambling,  Because bitcoin can be more convenient to use this nowadays.

[geopolisch]

Bitcoin is really money it is like we are working on internet where we get profit from these gambling - trading - investment these three are good income if you really wanted to earn bitcoin maybe we should work hard for it. But since bitcoin is unstable price where bitcoin decrease fast we lose instant profit when we stocking coins. But it is okay it is part like paypal tho.

bitcoin is money according to me, whatever we can do with money same we can do with btc but with converting to money. according to me you can earn by gambling but it is not a easy thing to do because you might win or lose everything so be careful if you are going for gambling. trading if you want to do you must have good  analytical skill and you should have good knowledge of btc. safest way is to do some freelance project and then earning btc by it then converting it to real money you can fulfill your needs.

The people who are trying to make laws for bitcoin are confused trying to figure out to which type the bitcoin falls into, the bitcoin developers call it a new type of payment network and a new kind of money, some call it a virtual currency.

For casual conversation, it does not matter what to call bitcoin, but how it is categorized have a significant impact when it comes to regulating it, so calling it money will apply some rules taxes just like fiat so it is better to be called virtual currency.

[hubballi]

Bitcoin is a online currency which can be earned by doing online job by giving our skill work against Bitcoin payment. From this forum if you are being high ranked means above full member then you can join signature campaign and earn per post or fixed per week apart from that you can participate in new altcoin bounty tasks and sell the coins when they are listed. So when you are earning bitcoin you can sell them in exchange and convert them to your fiat currency or if their is any bitcoin accepting shop then you can use bitcoin with them.

[bncbnc]

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol

Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.

i do not think that bitcoin is available in few country because bitcoin is available in any where and bitcoin is now acceptable in anywhere for online shopping and i hope one day all people will adopt bitcoin as normal currency.

yes bitcoin is available everywhere, we can see that even in backward countries  people are using bitcoin and getting benefit from it, hope that in future bitcoin will become more and more popular.

[Sadlife]

I treat bitcoin as a real money and a digital currency that exactly has good value in the market maybe in the future it will hold a great value so better save some bitcoins right now before it's to late.
As bitcoin has many use and th user doesn't need to give any personal information in the transactions.

[btcdiggingmaster]

Bitcoin is money because it does everything that physical money does plus payment processing. I'm convinced that it's money and should be treated as such.

As a bitcoin community member, i can accept bitcoin is money like fiat, but there many people who still don't consider bitcoin as money. Some people don't have complete hope on bitcoin because it is completely digital currency and many people are using for illegal activities.

[ice098]

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?

definitely yes, we can use bitcoin in many ways , we can use it in our everyday needs. we can buy all out stuffs. we can buy food , we can buy dresses, we can buy our neccessities with it. We can do whatever we are wanted like what we are doing with our physical money.

[mkmdoc]

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol

Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.

i do not think that bitcoin is available in few country because bitcoin is available in any where and bitcoin is now acceptable in anywhere for online shopping and i hope one day all people will adopt bitcoin as normal currency.

yes bitcoin is available everywhere, we can see that even in backward countries  people are using bitcoin and getting benefit from it, hope that in future bitcoin will become more and more popular.

Bitcoin is everywhere in the world, but only a few people are using it because many people are following government rules and regulations. Those who are using they are getting benefits from it. Sooner or later, many people will join in bitcoin community and start benefiting from it.

[dirokkl]

Bitcoin is money
we are in  2017  . btc ---------1300 usd
Yeah . It is money and profit
If you did not rush
bitcoin .you  must patience

although many users said that bitcoin is money but there are still many users who have difficulty spending bitcoin in the real world? #nicequestions Lol

Yeah more and more users have been considering bitcoin similar to real world money. As mentioned these days only few countries have got increased usage accessibility of bitcoin same as that we use traditional currency. So it will continue to serve as an alternate for traditional currency.

i do not think that bitcoin is available in few country because bitcoin is available in any where and bitcoin is now acceptable in anywhere for online shopping and i hope one day all people will adopt bitcoin as normal currency.

yes bitcoin is available everywhere, we can see that even in backward countries  people are using bitcoin and getting benefit from it, hope that in future bitcoin will become more and more popular.

I live in a backward country. And I can not use bitcoin as money. I can use it as an investment. But I hope that in the future this situation will change

[Ewox]

Probably in 2010 it wasn't considered money because its value wasn't that much. But as of the present (2017), the value is higher than that way back in 2010. I came from a third world country and I exchange bitcoins to our currency. I can pay my bills with it, shop online, buy load or even convert it to cash. So basically it can be exchange to real paper money per conversion; so it is money.

[Yakamoto]

Probably in 2010 it wasn't considered money because its value wasn't that much. But as of the present (2017), the value is higher than that way back in 2010. I came from a third world country and I exchange bitcoins to our currency. I can pay my bills with it, shop online, buy load or even convert it to cash. So basically it can be exchange to real paper money per conversion; so it is money.

If Bitcoin wasn't considered money back in 2010 then I don't know why something like copper could be considered as money (although very inexpensive and space-heavy for any viable amounts of wealth). The amount something is valued at doesn't determine whether or not it is money, to my knowledge money is any sort of a store of value. So PMs fit this description, gemstones could be considered money under the right circumstances, etc.

[BitcoinPC]

It is right, bitcoin is a digital currency, but when we convert it into dollar than no doubt bitcoin make us money. In technical point of view, most of the argues will come in this discussion. But for me, Bitcoin is bitcoin and it is introduce as a crypto currency and when we want to use it, than simply way to convert it into dollar and use it as a money.

[Ewox]

Probably in 2010 it wasn't considered money because its value wasn't that much. But as of the present (2017), the value is higher than that way back in 2010. I came from a third world country and I exchange bitcoins to our currency. I can pay my bills with it, shop online, buy load or even convert it to cash. So basically it can be exchange to real paper money per conversion; so it is money.

If Bitcoin wasn't considered money back in 2010 then I don't know why something like copper could be considered as money (although very inexpensive and space-heavy for any viable amounts of wealth). The amount something is valued at doesn't determine whether or not it is money, to my knowledge money is any sort of a store of value. So PMs fit this description, gemstones could be considered money under the right circumstances, etc.

I was referring to a post I've read that Bitcoin was not considered as money way back in 2010, but what I'm saying is anything that has monetary value or can be traded is considered money. And you are right and I agree with you, even gemstones could be considered money. There were some who argued that since Bitcoin had a low value before they didn't consider it as money, probably it was because it had just started and it wasn't popular unlike now.