Is Bitcoin money?

[Joshapat]

Bitcoin can be said money because it can be used for transactions and pay whatever we want, but there is a very clear difference is that bitcoin values continue to rise, while money value continues to drop due to many factors.

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[simantobd]

of course why not?most people earn bitcoin for money.so many people hold,trade,bitcoin.i think all people goal earn money.and bitcoin just a communication earn for money.

[DoublerHunter]

Bitcoin can be said money because it can be used for transactions and pay whatever we want, but there is a very clear difference is that bitcoin values continue to rise, while money value continues to drop due to many factors.

The bitcoin is also a money and you are right for the comparison of bitcoin and the money because with bitcoin you can fight the inflation by buying bitcoin and keeping it as an investment and you should learn how to balance things because you still need fiat in doing some purchases because you cannot use bitcoin alone as of now.

[Bellator]

Bitcoin can be said money because it can be used for transactions and pay whatever we want, but there is a very clear difference is that bitcoin values continue to rise, while money value continues to drop due to many factors.

Your thoughts is nice mate, and to add up to this explanation here I can say that bitcoin isn't just a money but already a wealth for us which I can say a living investments. So everything that has value to us which is bitcoin is money, and that is now getting very popular in the internet. In sooner time I can see it accepted on local stores if the current demand and adoption will become visible around the world. Maybe if internet is centralized in the future, well bitcoin implementation is easy for everybody to access.

[mifanmuzny]

Yeah future version of fiat we use today in day to day life. There comes a time u cant live without BTC waiting for that day

[deean_3one]

I'm new to this forum,i also just learned about bitcoin,when i read in the internet i think bitcoin is a digital currency that is quite interested to many people and also very useful for many people,with rapid technological developments i think bitcoin and altcoin will is growing and may someday be available for payment anywhere...

[Sweety girl]

Bitcoin is not equal to money for now, but Bitcoin has been recognized by many financial institutions as a means of payment for many people. Therefore, bit is valuable and has its value.

[FLUZFLUZGLOBAL]

Bitcoin is a crypto currency, you can consider it money to a certain extent, but at the end of the day it's not ACTUAL money, it's more something you invest in which can make you earn real money.

[btcpepa04]

the bitcoin was the money anonymous have a price hight up every hourse

[zonefloor]

of course it's which is called digital money.

[bling-bling]

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 believe it is. Since it is being used as a medium of exchange and also as payment for trading transactions, and has monetary value, then I would consider it as money  💰. Though digital, Bitcoin has gained a lot of features that is of fiat.

[gundala]

I agree with you. for now it is not suitable bitcoin to be called currency, because the user is still limited. more suitable to be called a commodity.

[feiss]

I think bitcoin is money because i already earn some money using bitcoin. The bitcoin that i earned came from the tokens and coins that i also earned. I just used a trading site so that I can convert the tokens and coins into bitcoin. Im also holding some tokens because im waiting for the price to increase so that I can earn more money.

[Harley29]

Because of its deflationary nature I think Bitcoin is actually more "money" than any currency on the planet right now.  Gold is the only worthy comparison, but because of the difficulties inherent in using/transporting/ exchanging gold it doesn't even come close

Yes bitcoin is a digital currency and it work same like other currency because when you want to buy something so you can buy and also you can buy online things I using bitcoin for different things some time I use to buy things and even I pay all my bills through bitcoin and now I can use it any restaurant or hotel I’m really enjoying it.

[Asuspawer09]

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 agree that bitcoin is a type of money. It turns out to be a somehow currency. It works by a definition of money and hoe could it be use. As we use money, or any normal or on hand currencies we have, these are both use in trading. As it satisfies the definition it could be so it. It just turns out to be in this digital world

[djablom1]

Yes bitcoin is money but only digital because i can cash my bitcoins out for real money and no one would have noticed that i got the money from bitcoin because it all looks the same in the end bitcoin definitely is money.

[bce]

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?

bitcoin is a digital currency and to get it we must enter the digital world also the internet world so bitcoin is a valuable form of currency but formless but real results

[bazdarx8]

Yes Bitcoin is real money but just a something online like you put into your bank account, weather its real money or Bitcoin it is still real money.

[mylyn2327]

Bitcoin is a sort of medium of exchange, it can compare to money because we can pay necessary things using bitcoin, such as paying bills, loading etc. But i would say we can compare it to real money if everyone do really accepting it, just my point of view.  Weather bitcoin is money or not as long as it has value on it, it doesn't matter at all. As long as we can use btc as a medium of exchange and whatever everyone think about it, but the bottomline is if we know its worth and importance. 

[cryptojaani]

Bitcoin is not equal to money for now, but Bitcoin has been recognized by many financial institutions as a means of payment for many people. Therefore, bit is valuable and has its value.

i think that bitcoin is more better than paper money.For me, Yes I consider bitcoin as a money because we just like what it says we use it as a medium of exchange. Many people nowadays use this bitcoin to buy things online because it makes transactions more easier and faster. Bitcoin is used by many people as a money, an alternative money in real money because as we can see bitcoin value is more high than the real money. But bitcoin is earned because of hard work and by doing your best.and bitcoin is the type of money that can gives you more profit in the way of investment easily as soon as..