Is Bitcoin money?

[Pandacomel]

Actually,bitcoin is not money.But it can change to money by selling it to people.Bitcoin is a token that people can earn in many ways.Better to not sell it now ,because the btc value is increase.

[StarofBTC]

Agree with post. My personal opinion is that actually Bitcoin is intangible money but it has a acceptable power over the world.

Bitcoin is a crypto currency. Every currency is money. Bitcoin is a money as we used it as a system of payment for buying. Through bitcoin we can invest. Investing is also a property of money. Bitcoin is money in all aspects. Also it is money in sense of payment and other duties we do related to money we do it through bitcoin. Bitcoin will be a digital money of coming future.

[Sum24]

its more than money as in our time money is just a paper ,but Bitcoin is somthing new and not only Bitcoin but cryptocoin ,blockchain somthing like internet it will change world.

Yes it not  only the money but it’s also an asset you can buy a lot of things from it such as your food and clothes also you can use it for paying the bills because bitcoin  work same like other currencies but bitcoin qualities are little bit high than any other currency you can also earn of money from here and also you can learn from here if you want to keep it save for it will help you in your future because bitcoin can help you in your present and also in your past.

[Skieleton]

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

Bitcoin in many respects fulfills the functions that money should meet. In my opinion, however, it does not fulfill all the functions of money. Therefore, I am reluctant to call him money. I think, however, that money is what money is acceptable. So if in a given transaction someone accepts bitcoin as money, then he performs the function of money for this transaction. However, it is difficult to compare bitcoin with money issued (in the case of Poland) by the NBP.

[ucok_aball]

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

Bitcoin in many respects fulfills the functions that money should meet. In my opinion, however, it does not fulfill all the functions of money. Therefore, I am reluctant to call him money. I think, however, that money is what money is acceptable. So if in a given transaction someone accepts bitcoin as money, then he performs the function of money for this transaction. However, it is difficult to compare bitcoin with money issued (in the case of Poland) by the NBP.

it's true because bitcoin is bitcoin and money is money they have their own characteristics but also have similarities too so depending on each person to give their own opinion

[BlackBeauty]

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

Bitcoin in many respects fulfills the functions that money should meet. In my opinion, however, it does not fulfill all the functions of money. Therefore, I am reluctant to call him money. I think, however, that money is what money is acceptable. So if in a given transaction someone accepts bitcoin as money, then he performs the function of money for this transaction. However, it is difficult to compare bitcoin with money issued (in the case of Poland) by the NBP.

it's true because bitcoin is bitcoin and money is money they have their own characteristics but also have similarities too so depending on each person to give their own opinion

Bitcoin is a digital currency and many people earn it from online work and its very important that everyone join it for their some extra profit because its profit can your life very easy, so many people invest in this forum because they know we will never lose our profit, so its not a real money that everyone put in their pocket it's work for online users and they better know about bitcoin.

[Nana99]

Bitcoin is money, when we have bitcoin in our wallet its easy to cashout using bank or remittance.

[Aleksabit]

it's not a digital currency that will someday become money that will be a lot worth the same as now bitcoin, but it may only remain a digital currency and it will not change

[Donawoite]

Bitcoin is money because anything that is being used as medium of exchange is money.

[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?

t is a relatively new technology, and with many aspects that need to be better defined. But for me it is clear the fact that Bitcoin is money. In addition to being decentralized, and having a more efficient issuance than centralized currencies, there are thousands of people using Bitcoin every day, be it to store value, or to pay bills and buy things. yes bitcoin is a legit money because you can use it online where you can choose it as a payment when you are buying something from a site or from to your friend but make sure that they are all accepts bitcoin because if not then it will not be that big problem because you can still use fiat money.

[Kittygalore]

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

Yes, bitcoin is money. It may be digital currency but if you exchange it in dollars then it would become money, right? As what you said everything that is used as a medium of exchange is money. It can be raw materials, materials, gadgets, golds, silver, dollars, euro,peso, and bitcoin. And I personally buy something with an exchange of bitcoin.

[kimochidesh]

In my opinion, a currency is the mode of payment. A currency is made to measure a worth of a thing so that no dispute arises for an unfair exchange of commodities or services. If a thing or service can be measured in BITCOIN then why not it is a currency!!!
To perform a trade both party should agree on the term of exchange and mode of payment. No matter what is that mode of payment, it could either be Govt. issued fiat currency or a commodity/thing, services etc.

[CryptoHawkAG]

What is Money by definition? -> "A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or another readily liquefiable account."
So yes it is money  

[yusupjatigumilar]

Bitcoin is not money, bitcoin is the same as gold, oil, gas and other commodities that distinguish it is if gold is a physical form while bitcoin is an invisible digital asset, and if bitcoin is used as a means of payment in a country then the country is old will eventually experience an economic crisis because the value of their currency weakened.

[manananggal]

NYSE is seeing it that way now!
http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/

It's about time too!
As of this posting it is $2,911.66  

Bitcoin could be called both as money as well as commodity. Bitcoin is used to buy products just like money.

[cybersofts]

Bitcoin is a peer-to-peer digital currency that is fast, secure, decentralized and acceptable worldwide. With bitcoin you can send money anywhere in the world. Bitcoin has no borders, boundaries, or central authority that controls it like fiat. Bitcoin is the first free currency which was made and controlled by the people. Bitcoin was originally invented as a digital currency but due it limited supply and value, people are now using bitcoin for both currency and asset.  

[Janation]

Bitcoin is money, when we have bitcoin in our wallet its easy to cashout using bank or remittance.

If bitcoin is "money" then I think you do not need to "cash out", to convert or to make it through a lot of exchangers because if bitcoin is money, it will be accepted anywhere in the globe, but it is not. If bitcoin is money I think it is used in paying something regularly or maybe everyday, but it doesn't, bitcoin for now is just a digital currency, an asset which you hold hoping to get a profit over time taking advantage of it's volatility.

[letningmequin]

Bitcoin absolutely is money because i think everything that could be sell into money is money, even with the smallest thing.

[terang93]

Bitcoin is an asset that it could change the valuation depend on how good on the news. So it could be consider as money.

[raaaj203]

Money performs many functions. They are used not only as payment. For ordinary people, they are considered only as payment. For the economy of the country - this is an important tool. Bitcoin does not have the functions of supporting the economy. Therefore, it can not be called full-fledged money in the sense that exists now