Is Bitcoin money?

[Painbird]

yes bitcoin is money, everywhere of world bitcoin used as a money. becouse it's really easy & secure  to transfer cash money. bitcoin is a peer-to-peer system, this kind of system is superb.so my opinion is bitcoin one kind of money.

[worldtraveller321]

its more less like going back to the old fashioned days hundreds of years ago where people just traded items

for other items and it was all peer to peer at one time

the cryptos will let the people control their economy again

[Awraawra]

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]
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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?

i still do not know what is the meaning of  this question?but what i know is if you will earn a bitcoin then thats the time you will make money at bitcoin, thats why for me bitcoin is a money.

[AlexanderAnthony]

Bitcoin is a cryptocurrency, it is a digital currency and I think we can also say that bitcoin is money. But bitcoin only exist electronically. We can turn it to money once we converted it.

[AlexanderAnthony]

Bitcoin is a cryptocurrency, it is a digital currency and I think we can also say that bitcoin is money. But bitcoin only exist electronically. We can turn it to money once we converted it.

[Habibrony]

No bitcoin is not money.But it is the medium of exchange.  Once upon a time when the money was not discover that time they use gold, stone and other valuable things as like money.  But things are not money and not few value like money. In this thing bitcoin is same.It is also valuable and also can do everything what we can do with money.  This is like money but that's are not a things what we can visit in our hand like as money. This is the different with them.

[freedomgo]

Bitcoin is a cryptocurrency, it is a digital currency and I think we can also say that bitcoin is money. But bitcoin only exist electronically. We can turn it to money once we converted it.

Definitely, so in short bitcoin is money and we even choose to have this since the value will appreciate compare to the real money
where the value may inflate overtime. Hence, it's not good to save all your money, you also need to learn how to invest so you can get away with that inflation problem.

[legoplayer245]

It is the equal to money, because it has a value to it's holders and they are willing to give some of it to you in exchange of money. Also you can use if for the same purposes than money.

[olatslodi]

Bitcoin indeed has much more benefits compared to any other payment form. Bitcoin is a virtual currency which full of data only and not easy to use for purchase any commodity but is can be exchangeable. also t can sustain our daily needs from the rewards we gained from it.

[gwaposakon]

Nope, bitcoin is not a money, bitcoin is a currency, but you can convert bitcoin into money if you know how to process it ,.

[gwaposakon101]

No , bitcoin is a currency not a money, but you can convert a bitcoin into a money if you know how to do it.

[NJB18]

No , bitcoin is a currency not a money, but you can convert a bitcoin into a money if you know how to do it.

Bitcoin is a currency but it is not money? They are just synonames ffs! Considering bitcoin being accepted by many stores worldwide as mode of payments classifies it as a money.

[Ronni]

of course, bitcoin is money. it is a virtual money that can be converted as cash.
if you have many bitcoins it means that you can be rich, because these bitcoins has a certain amount to be converted.
Also, in bitcoins, you can buy and sell things, you can earn more than what you have invested, and in that way, you can earn money.
BITCOIN IS MONEY

[caloy06]

Of course yes,because if bitcoin convert to peso it can be a money if withdraw a cash.Bitcoin is like a money to buy anything you want or needs and satisfaction.If bitcoin is increasing it can be your money is higher to withdraw your cash.Bitcoin is upward value now because its coming christmas and new year its a million value of bitcoin.Bitcoin is money,money is bitcoin if you convert it you know what the meaning of its words.

[luigidosado]

There are way too many differences between the two. You can't directly relate bitcoin to money. Money pertains to physical things, like cash, penny, or a dime. While bitcoin is an online thing that operates in a decentralized form. It can be a form of investment/asset and also an online currency. But still, Bitcoin is money in a way that it is a source of money.

[Eilysh]

Is bitcoin money? Yes it is. It is an virtual money that can be used to pay bills, expenses or even converted into cash through banks. You can even send load to yourself or anyone by using bitcoin. It has a lot of benefits and worth more than we know.

[Rono]

If Anything exchanges or buy with it Its called Value of it.Bitcoin is the thing that it called medium And we can Buy lots of things by it.Bitcoin is the valuable thing Like Gold One day It will be Diamond.We can do many things with This valuable medium.Bitcoin is the life-changing Invention and medium.After all, Bitcoin is a worldwide Digital Currency.When People Accept this It will be turned into Huge Advantage for Our Community

[Christian13]

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 yes Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. People buy coffee with Bitcoin at local shops. Others get paid in Bitcoin and use it to shop online. Friends use it to settle with whoever paid for dinner. Workers send Bitcoin back home to help family, regardless of where they live.

[Tim2412]

My idea is the next - if  you can use bitcoin  to pay for  any thing thats why we can consider  bitcoin is a money.
Also  it is usual to  see bitcoin  rate with USD or EUR  on financial websites.

[Mike Dickhead]

Basically, no.