Is Bitcoin money?

[datodota002]

Bitcoin is more likely commodity than money because the price is not match for buy and sell something. that will make buyer or seller getting lose if they buy/sell something in bitcoin when the price down/up.

[daarul50]

Bitcoin is not money, but bitcoin can be converted into money because bitcoin has a price so bitcoin is now widely referred to as the digital currency. As a currency, of course, bitcoin require services exchanger if want to convert it into money.

[dupee419]

Bitcoin is sounds like a money only but bitcoin is not a money and if you have a bitcoin it seems like you have a money too and your bitcon can be a local currency just put your bitcoin into a online wallet app that the app is secured, trusted, legit and popular and if you have find the convert then put how much if you're done you will see that your bitcoin is a local currency now

[maxxdxx]

Bitcoin is not fiat because of Proof of Work and decentralization. There's no owners of bitcoin, and the money supply cannot be changed. There's a limited supply, and no one controls the supply. Even if bitcoin was worth 0.0001$/BTC it would still be a commodity. Value doesnt make a commodity but supply/decentralization makes.

[boddy.dy]

Bitcoin is a lot way different with money. We all know that money is accepted in all country but bitcoin is not. But in the other way bitcoin can be convert unto money. Money do not require any application to pay in any kind of payment but in bitcoin it is necessary. There are more of its difference but bitcoin is good it is usefull and reliable.

[Arcejeff]

For me i considered bitcoin is money but somebody say it is an electronic money or digital. .

[heureca]

For me i considered bitcoin is money but somebody say it is an electronic money or digital. .

Bitcoin is kind of digital money. Btw, US dollar also can be digital money when you use your debit/credit cards..) But currently the main BTC application is investments

[winterland]

Bitcoin is not a money, it is digital currency. Bitcoin is a digital asset you need to exchange to fiat in paper money or coins to be called money.

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.

Not in my dreams that bitcoin become centalized. One of my favorite to this bitcoin is decentralized.

Digital currency is money as well, the name itself implies that, it is just a currency that is in digital form, your balance in your PayPal account is money, your balance in your debit card is money, and the balance in your bitcoin wallet is money as well.

Although Bitcoin just a digital currency, or exact more is the cryptocurrency, but you can exchange to real money. It like you can use Bitcoin for payment anything, but you must to exchange it to FIAT first, it is the requirement because there is no way to spend Bitcoin as a payment method, unless you are living in a country accept Bitcoin is legally.

No, you can use your bitcoin directly, it is true that bitcoin is not that accepted yet, but that is going to change in the future, and when that happens the days of exchanging your bitcoin for fiat first before buying are going to be way behind us.

[ttix67]

Money is typically defined as a type of exchange that can be bartered between two parties for goods or services.  That is, instead of one party offering to do another good/service, they instead offer money.  Bitcoin is money in the sense that it can be used to procure a good or service.  However, BTC is also predominantly electronic form only.  Yet, because today's world is trending towards non-physical assets, I think this may constitute a viable form of alternate currency.  I'm not too keen into how BTC is formed, but I do believe there must be some form of physical backing to it - similar to how USD has gold that is backing it up. 

[Ethernel]

In my opinion you can call a bitcoin another method of paying alternative of money. But more on online transaction i guest like in online shopping paying bills, online gambling,  Because bitcoin can be more convenient to use this nowadays.

[mattmct]

Yes off course bitcoin is money some newbie are still confusing about that so I want to explain them that bitcoin is a currency that you can convert to any of your desire currency but you can’t used it directly for payment because it is not accepted still as a payment in various places.

[jakirtanvir]

It’s not real money but it is alternative money of online money. As simple as it is.

[alexsamudra]

according to what I think about bitcoin money, bitcoin is digital money that can be used for online transactions and can be used anywhere you need. do not ever think if anyone says it's a threat to the economic system, but they use it as an investment to overcome it. if you consider money so you think it's an investment then it is an investment. if you have a risk that matches the job you are doing so you have to think about what to do now.

[cyriljundos]

yes I can say bitcoin is the one money because when you get the bitcoin in bittrix it's a big money for investment. thats all thank you

[ogini]

It can be called online money but to be truthful with the cryptocurrency it is not your money until you find it in you bank account, that is when you have value for it,although some business centers have been accepting it as a payment method for good and services. So it really worth calling it money.

[bitzzz]

I don't agree. If it is money, then the changing value should reflect the overall economic status in the real world. As we see from it, it is not true. As my standpoint, it is more like a collection. People has unbelievable enthusiasm on it which make it surge. The rapid rising and great variation make it valuable asset not good usage as money.

[zais]

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 an exciting technology and a new form of money, but this does not mean Bitcoin is free from risks. Keep in mind that there are some similar rules in Bitcoin like traditional money. For example, do not keep your cash under the pillow because it is easily stolen, or do not entrust your money to a stranger.

[arthotdog]

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 an exciting technology and a new form of money, but this does not mean Bitcoin is free from risks. Keep in mind that there are some similar rules in Bitcoin like traditional money. For example, do not keep your cash under the pillow because it is easily stolen, or do not entrust your money to a stranger.

thats why its called Virtual money,its a money inside your virtual world.the
 difference of physical money is you can use it on all kind of transaction either online
or offline while the virtual money will only function with internet bit without net its
useless

[fooxytrade]

Bitcoin is money and it will stay around!
People are still confused and some can't believe this is true,... also all banks and financial institutions are talking how bad this is... but in behind they are making grand plan on how to cash in with Bitcoin and other coins

[jazmuzika217]

Bitcoin is basically like a money. We exchange it for some goods like for example theres a shoe store that accepts bitcoin. It is like money. Although unlike the real money bitcoin has its limits. It is capped for 21 million only. But like gold which is precious, bitcoin is precious also because were revolutionized and striving for technology. Yes it is like money but technically it is a virtual money that technology gives us.