Is Bitcoin money?

[Ian Dave]

Yes, Bitcoin is a digital money that you can change it into real money with a high value. You can buy in any store through online. You can earn and invest here more money. Bitcoin has a fastest way to transfer money to another country.

[karisiak123]

I think bitcoin money is digital money,
in other countries if you want to pay shopping can use bitcoin money ,,
but if a country that can not make a payment with bitcoin ,, must go to the place of exchange of banknotes or money in force in that country.

[Bitcoinismylife12345]

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

It is just bitcoin is used in cyberspace and it has a real high value when it converts to money. It is the future currency in our world.

[amla]

yes off course bitcoin is crypt currency and it can be easily changeable to any other currency and you can use bitcoin also some place but still bitcoin is not acceptable to most places but it is more probable that world will start payment in bitcoins but for now any one have can bitcoin he can easily change bitcoin through some local exchange and use this changeable money everywhere.

[ejswift]

Yes ofcourse its a money you can buy many things in just one bitcoin and u can invest it for your business

[AliMan]

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?

Yes. I agreed that Bitcoin is not a money, in real world. But in our time, Bitcoin has been used in many shops, in stores and also you will use it in different online shops. Bitcoin will call as an Internet currency and this is a legit cryptocurrency. If you will search for the definition of money in dictionary, mostly saying that "It is a thing that is used to buy something" And Bitcoin can do it. Indeed, I will say that in this millenial period, Bitcoin will treat as a money right now.

[nazimmamun]

i think its like a gold .Some people don't think gold is money, and it might be quite difficult to convince them that BTC is.

[Gladz29]

Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Bingo!

Yes bitcoin is money, just wait for the near future the bitcoin is became centralized currency. and its easy to us to used bitcoin just like money.

[mark_salcedo618]

Bitcoin is a digital currency used to transact or purchase services and/ something that has a value. Same function and use of Paper/ metal money that is used to exchange of something. Good thing for Bitcoin because the value is changing due to indemand in market unlike tangible money that stays the value as it.

[nicoly]

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. ... The system is peer-to-peer, and transactions take place between users directly, without an intermediary.

[Gaff]

In my opinion Yes, Bitcoin is money because i can buy things i want using Bitcoin of course i need to exchange it first to cash but that is easy to do as long as you have a virtual debit card like wirex. You can exchange Bitcoin to any currency fast and easy and used that virtual card to shop online.

Yes me too, I agree that it is a money, money in the internet that you can use to buy things you wanted online. Bitcoin already help many people, for there financial and everything they need. Some other people tell that Bitcoin make them rich, On the very first place I got really confused about this but when I already know the uses of bitcoin then I was really surprise. Bitcoin can exchange into cash like what they say and that was a very big help for us.

[Amilhussin24]

It is a money for the internet, used as money around the world. we can buy with bitcoins at local shops. the others get paid in bitcoin, it can be use in online shop.

[Rahul5577]

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency. We can say that the money if there is already a country that officially use the bitcoin, and use of the bitcoin still not more than 3% of the total population of the Earth. I also treat bitcoin as a money and as well as gold.

[chukaday]

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 100% and that the dictionary is incorrect. You said it yourself bitcoin is something radically new and radically new things dont have anything to define by. Therefore we should define what bitcoin is

and re write what the definition of money is to fit it. I think that bitcoin is spendable like other money, it is transferrable like other money then why is it not considered so? I think if you perceive it this way you must alter

the definition of money and therefore bitcoin will fit that definition. Good day to you all

[hangar18]

In my opinion Yes, Bitcoin is money because i can buy things i want using Bitcoin of course i need to exchange it first to cash but that is easy to do as long as you have a virtual debit card like wirex. You can exchange Bitcoin to any currency fast and easy and used that virtual card to shop online.

Yes me too, I agree that it is a money, money in the internet that you can use to buy things you wanted online. Bitcoin already help many people, for there financial and everything they need. Some other people tell that Bitcoin make them rich, On the very first place I got really confused about this but when I already know the uses of bitcoin then I was really surprise. Bitcoin can exchange into cash like what they say and that was a very big help for us.

Bitcoin is cryptocurrency so you can exchange it to other currencies anytime. You only need to find buyer in exchange, all functions from exchange can provide you a services automatic convert to FIAT with low risk. Bitcoin can helps owner become the rich because they could holding Bitcoin with cheap price before its value increases.

[mahilchii]

It is a digital money. We can used it for lot of online transactions. Bitcoin has its own price. It is first decentralized virtual currency in the market. It is easy to use and safe. It is peer to peer payment system.

[intoy_victor]

Yes it is, because anything that has a value is money even in the year of B.C.E. they are using gold, silver or even thier staff to exchange thier food in order to suvive.
Btc is like a gold with higher value.

[biboy]

Yes it is, because anything that has a value is money even in the year of B.C.E. they are using gold, silver or even thier staff to exchange thier food.
Btc is like a gold with higher value.

It's concept and its function is just like money it is just that the bitcoin value grows. The real intention of bitcoin is to change the world from the concept of cash less. I believe it's gonna be happen in the future and we should be involve with this so that it could happen since everyone now wants to transact will less hassle.

[caloy06]

yes for me, because botcoin is also equivalent to the money we buy in the branches of money. Let's get the bitcoin up to multiply and we'll put our wallet on coins.ph and when the wallet cools down Let's say we have to release the money or the bitcoin equivalent we accumulated in any branch of money.

[winterland]

bitcoin is not money but asset like gold. not worth if use bitcoin for buy a things.
buy bitcoin invest bitcoin why buy money for money if bitcoin is money?

But gold is money as well, maybe people do not use it like that anymore but that is not important gold was used as money for a lot longer than any fiat currency and if people do not adopt bitcoin then it is very likely that gold makes a huge comeback when the fiat system collapses.

Gold is not money, it is an asset and you can convert it to money. Money is FIAT, Gold has value but you can not call it is money. Money can use to payment but we can not use Gold to that. Therefore, you need to know the difference between FIAT and asset.

yes gold is an asset that is now starting to decline demand because of the bitcoin
and gold must be exchanged with money first so it can be used in terms of purchase transactions

Bitcoin is slowly going to steal market cap from gold and that is a good thing bitcoin performs many of the functions of gold but without any of the drawbacks, to move gold you need have a way to secure it but to move bitcoin you only need to remember your seed words.