Is Bitcoin money?

[Happydd]

Yes.Bitcoin is money since it provides us the things that we need in surviving everyday.It also gave us source of income even if we're not putting most of our time like what in a regular job does.

yes bitcoin is a money, because we can pay our bills from it and we can provide the needs of our family. in my online wallet i can directly pay our electric bills and our water bills, i can also pay some thing that we can pay their. and now i am able to buy my stuffs that i am needed, bitcoin is really a big help and it helps me a lot each day.

It's a great thing to live in your country, everything is so good for bitcoin. My country is different, I have to sell it, I can only deal with cash. Even so, I can still assert that bitcoin is money, it's really money, a valuable currency.

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[DoublerHunter]

Yes.Bitcoin is money since it provides us the things that we need in surviving everyday.It also gave us source of income even if we're not putting most of our time like what in a regular job does.

Exactly. Bitcoin is really a money because if its not then people wont give an effort or time to be in this kind of campaign but they give thier tome because they earned so much.

The value of the bitcoin is one of the greatest foundation of the efforts of the people who are earning it and i can say that it is worth it to buy or earn bitcoin because of its value and yes bitcoin is money because a lot of things can really possible with bitcoin such as buying and paying things and also you can make it as an investment.

[The_prodigy]

The value of the bitcoin is one of the greatest foundation of the efforts of the people who are earning it and i can say that it is worth it to buy or earn bitcoin because of its value and yes bitcoin is money because a lot of things can really possible with bitcoin such as buying and paying things and also you can make it as an investment.

yes right, bitcoin is money. in real money we put some efforts and time to earn it.that is like what we do with bitcoin, we put some time and effort to earn bitcoins, we need to provide our family needs, and to provide our neccessities, bitcoin is money. It is only in the internet but for me it is like the real ones it can provide everyone needs also.

[dasana212]

Bitcoin more than money. Bitcoin became one of my choices in investing. And in investing risk of loss there must be, therefore i use bitcoin for altcoin trading.

[Pattart]

Bitcoin money is a means of exchange into money that is officially used by the country itself so that its inhabitants can use it.

Bitcoin has a market rate or price. So bitcoin can be used to be exchanged for certain goods or with money. According to the rate. But bitcoin I think with that sense can be called as currency

[Anfisman]

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.

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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?

excellent explanation...

[unisilver]

Yes.Bitcoin is money since it provides us the things that we need in surviving everyday.It also gave us source of income even if we're not putting most of our time like what in a regular job does.

When you say bitcoin everyones comes into thier mind that it is money. Yes that's true because bitcoin is money which provides everything when you start earning but you cannot earn if yo will not give effort into it so you need to have some effort to earn double.

[nemagia]

Yes.
Bitcoin is a internet money which we can use it everywhere.

I think it is clear that bitcoin is a currency, but it is digital. And you're right. Bitcoin can be used anywhere because bitcoin has a rate or a price

Yes, bitcoin is a digital currency of a new generation, because it can not only pay off, but also earn on the growth of prices.

[bitbob82]

Bitcoin more than money. Bitcoin became one of my choices in investing. And in investing risk of loss there must be, therefore i use bitcoin for altcoin trading.

yes bitcoin is more than money there is no doubt about that. people are now using bitcoin for different purpose. they are using bitcoin for online shopping and business as well as now they are using it in local shops, but the facilities of using bitcoin in local shops are only available in big cites because in small cities the users of bitcoin are not too much. that is why the shopkeepers are not ready to use accept bitcoin from them. but in future we can hope that the will also start accepting bitcoin.

[2double0]

In my views, I would not call Bitcoin as money itself but as a way of growing it because it is currently being used more as an investment asset by investors thinking to profit from a currency so liquid which would definitely give them some great returns for the same.

[MetalGear]

Yes bitcoin is an electronic money. Some stores in the Philippines already used  bitcoin in change of the product that they are selling. I believe that in the future the bitcoin will have a good destiny and it will be used as a money currency in our country and many people will discover and use bitcoin for a wise and good money.

[mudboy93]

I consider it a currency, since it can be used to buy goods and services directly, HOWEVER the point it's a commodity is decent to an extent as well, considering it's value isn't stable and it is usually exchanged prior to any purchase (to an exchange of USD or other currencies value and not directly).

[FlightyPouch]

Yes bitcoin is an electronic money. Some stores in the Philippines already used  bitcoin in change of the product that they are selling. I believe that in the future the bitcoin will have a good destiny and it will be used as a money currency in our country and many people will discover and use bitcoin for a wise and good money.

Bitcoin is a digital currency, there are some confusions but currency and money have different meanings, money and currency are different. Currency is the paper money that is usually used, being paid on stores, saved on our wallet or getting it on an ATM machine. Money, is more like silvers and golds, in the earlier stages, pearls and other things are used to pay. I just hope bitcoin is widely accepted here in our country, but I can't blame people not knowing bitcoin, we're on a third world country.

[DomainReseller]

it is convertible to fiat money therefore I would consider it money in anyway. even if it's a digital currency it still is money and therefore value, money is anything that has value in my opinion.

[yogaantoni]

I think bitcoin is a digital currency, which has fairly easy transactions to some countries

[wxa7115]

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.

[JemmaColin]

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.

[Cherylstar86]

Well I guess that subject of bitcoin as a money has already proven and with a common sense, I can say to a point that bitcoin is money. It's a money because it can be used as a mode of payment on particular services offered online, that include mobile load buying, bills payments and a lot of options that's coming soon at coins.ph website; the bitcoin wallet I had right now. So to be more specific regarding bitcoin, the impression as a bitcoin money due to it's versatility, that it can also be a sources of another currency to exchanged as fiat cash money. That's the very transparent proof of bitcoin as a money and those mentioned were just some of the descriptions mentioned, there's still to be mentioned in the future thread replies.

[boy130]

Yes it is a digital money.   Because it have it's own price, can be used in a lot of shops, online casinos etc. same as fiat money. So why bitcoin is not money? It is money as we can buy something for it.

[wallstone]

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 guess bitcoin is money. Bitcoin is electronic or digital money in online. It’s money because you can use it in any kind of transaction such as paying bills, shopping in online wallet and many more. I think some store in the world accept bitcoin as a payment of their costumer so I think bitcoin is a money.