Is Bitcoin money?

[loyaswexrq8]

Investing money in bitcoin, this is an excellent surplus investment. Bitcoin is the best multiplication of money.

[Biggapp]

Bitcoin is already an investment asset like gold. Of course u can buy, for example, a house for Bitcoins. But it's to big commissions due to high price, so it's not for everyday purchases.

It is not like gold but it is much better than gold because it has a lot of features that are better than Gold or any other currency or investment. I am using bitcoin as a currency to make money through it. Not bitcoin is able to buy us anything we want just like house and shopping we can go out to make things to hang out with friends. So we can use bitcoin for anything we want to buy. It is easier and reliable than simple money.

[Sum24]

Bitcoin is a digital  coin its sounds like money  because of its value but it converts into fiat before you used this  as money.Bitcoin has a quality to rise in the market because of the value so why many people wants to venture in bitcoin  if its not money?Actually bitcoin is like money.

Yes it’s a digital currency and its work same like other currencies when you want to buy things so you can buy any time and also you can buy online so bitcoin is not only currency but it’s also an asset you can earn here a lot of money bitcoin is very safe and good for investment you can invest here as much as you can and I’m sure if someone join bitcoin then he became a regular user of bitcoin because bitcoin is very good hope for future.

[DewiKirana]

Yes of course bitcoin is money that can serve as an investment. We can see the function of bitcoin can be used as a means of payment, this is the basic function of money. But bitcoin can be said future money.

[Paycoinzzz]

Bitcoin is a digital  coin its sounds like money  because of its value but it converts into fiat before you used this  as money.Bitcoin has a quality to rise in the market because of the value so why many people wants to venture in bitcoin  if its not money?Actually bitcoin is like money.

Yes it’s a digital currency and its work same like other currencies when you want to buy things so you can buy any time and also you can buy online so bitcoin is not only currency but it’s also an asset you can earn here a lot of money bitcoin is very safe and good for investment you can invest here as much as you can and I’m sure if someone join bitcoin then he became a regular user of bitcoin because bitcoin is very good hope for future.

Actually you do not know much people are still using Bitcoin as money.
Most of the Bitcoin users are saving it or trading to earn profits.
No one wants to waste Bitcoin while altcoins are better than Bitcoin for payment, Ripple, Ethereum, Digibyte ... all better than Bitcoin.

[yonjitsu]

Bitcoin is of course a money but it is intangible because it is in a binary form or digital. Since you can use this digital money as payment when you buy goods or pay for any services, then that's safe to say that bitcoin is indeed a money.

[Samj16]

For me I considered it like an electronic or digitalize money. It has value and you don't want it to be stolen by anyone.

[elvinjamon]

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?

Bitcoin is money because you can convert it into real money or in your currency like here in philippines you can convert bitcoin to php .

[Cinemo]

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 money because you can convert it into real money or in your currency like here in philippines you can convert bitcoin to php .

I'm a pilipino like you andi agree with you bitcoin is money because you can convert it into fiat money in your currency and i think bitcoin is the best source of income now and now bitcoin is similar to money because this bitcoin is very important and profitable.

[virendarnagpal]

Bitcoin can be defined both ways; it can be defined as money because it is having major characteristic of money i.e payment for buying goods and services.  But if we do not agree with the point that bitcoin is money there are several reasons for saying so;
Few countries have banned it
Even in the counties where it is not banned it is not acceptable by the all the citizens of that country.  the payment will be accepted by only those persons who are having knowledge about bitcoin; having bitcoin account also but presently most of the people are not having internet bitcoin accounts and even many people do not even know about this currency.  So till time it is not universally acceptable but in times to come it will really become true money.
Also some people say it can be converted easily into cash so it is money; but gold etc is also easily convertible into cash and it is not money still.  So in near future bitcoin has bright chances of becoming universally acceptable money by all  and then it will become money for all,

[Prince786]

Bitcoin is money. Bitcoin is a new generation of money, it evolves like us. Bitcoin becomes more convenient, easy to hold, more secured and safe from theft (hacker). Bitcoin can be used in payments, buying goods and services, billing, loading as far as fiat currency.Bitcoin is both right now, a form of investment, and a possible form of payment.

[highfive56]

Yes,The future money of earth.When the world ready for remove paper money and accept electronic money btc will be 1st on their list.Its anonymous and safest way to keep it.And its pretty good investment day by day its rising.When all money falls bit coin rise than 1000%.BTC rise 1K-20K in this year,best year for BTC.So I think bitcoin is money and good investment.

[Rooster101]

According to a US judge in Texas, he ruled that bitcoin is a currency or a form of money. But a well known businessman consider it as an asset or commodity. The businessman reason out that in order to become a real money or currency, bitcoin must have a stable store of value. Whatever it is, the important to me is I can able to use bitcoin in any transactions or convert it to cash to buy anything I want.

[marjohn]

Not literally money that you can earn in actual phase, but, let's say it is.

Because as soon as you pay out, it turns like one.

And of course, we can consider it as "money", It is the same thing and same use with the real actual money we have in cash.

We can buy anything using this same as money, we can do whatever money can do with this. So it is.

[sunita01]

In fact, bitcoin is money, it is known as digital money. It is a supplement to financial money. Anything can be purchased by online shopping.

[dreamer81]

Bitcoin is store of value. That means it will not loose value over time like fiat does. You can compare it to gold. Money can be printed all the time, bitcoin cant... so rethink this please!

[Boov]

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.

Yes, people always say "bitcoin is like money", they dont undestand that bitfoin itself is money. The fact that you can trade with it, buy with it, save with, and earn with it makes it similar to dollar. It has a future but its still not accepted and adopted by all.

Yes, Bitcoin is a money. But in other ways, You will say that Bitcoin is not a true money. If you're totally is in the Bitcoin world, Bitcoin is money. You are able to convert your bitcoin into fiats. Bitcoin is cryptocurrency and Cryptocurrency is an internet currency that ables some lhuillers (Like Cebuana) to transfer these crypto into money. By this procedure and process, Bitcoin is money. Bitcoin is legal in many countries and this is now approved to exchanged into fiats.

[ShiroThe5th]

yes it is a other type of currency but you can exchange it to a real money if you want. bitcoin are like a virtual money that can use through online. some of online stores is accepting bitcoin. bitcoin is the type of currency where their is only a 1 amount to all over the world. why many say bitcoin is a money because bitcoin use to trade or exchange and also has a value.

[altcointalk14]

Bitcoin is money. Bitcoin is a new generation of money, it evolves like us. Bitcoin becomes more convenient, easy to hold, more secured and safe from theft (hacker). Bitcoin can be used in payments, buying goods and services, billing, loading as far as fiat currency.Bitcoin is both right now, a form of investment, and a possible form of payment.

As a currency unit, the bitcoin is like all other currencies. Consumers can transfer bitcoin through the network and so do everything they can do with conventional currencies, including buying and selling goods, sending money to people or organizations, or lending

[rancidgash]

Bitcoin is of course a money but it is intangible because it is in a binary form or digital. Since you can use this digital money as payment when you buy goods or pay for any services, then that's safe to say that bitcoin is indeed a money.

Bicoin can be bought, sold and exchanged against other currencies in specialized exchange exchanges. In a sense, Bitcoin is the perfect form of money for the Internet because it is fast, secure, and unencumbered at national borders.