Is Bitcoin money?

[yamete kudasai]

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?

the bitcoin is definitely a money you can earn a huge profit by using the bitcoin without going anywhere or even though you dont have a job all you need is a computer or phone and internet and their you have it you can make your own money by your own using bitcoin. In bitcoin with hardwork and patience in this business their is a possibility that you will earn a huge profits so that you can provide your need or you can paid your expenses by your own with the help of bitcoin and be a successful person life.

[dapinliane]

imdapinliane@gmail.com

[Copulative]

Yes bitcoin its a kind of money  but you have to learn bitcoin how to become of money because bitcoin you can convert to currencies

I accept that bitcoin is money because we can do anything with help of bitcoin what we can do with money. But there is a little difference in fait money and bitcoin which is legality of the bitcoin. Fait money is legal while bitcoin is not in all over the world. Therefor we need a simple process to use our bitcoin is money

[Botnake]

Yes bitcoin its a kind of money  but you have to learn bitcoin how to become of money because bitcoin you can convert to currencies

I accept that bitcoin is money because we can do anything with help of bitcoin what we can do with money. But there is a little difference in fait money and bitcoin which is legality of the bitcoin. Fait money is legal while bitcoin is not in all over the world. Therefor we need a simple process to use our bitcoin is money

Let us not speak about legality because every government has different perception on bitcoin, but what is important if it's use and not against
the law in using bitcoin the value will remain and hence we can call this as money. I have invested in bitcoin because I know the value will grow, it's
different from real money and although risky I am willing to take.

[haster100]

Yes, because he can support our basic needs in life. It can also be a source of income for us. Bitcoin is money, because it is able to provide us with what we want to be at our disposal.

[icanscript]

In economic theory there is a definition of the concept - Money.
Bitcoin corresponds to all characteristics of money. We make a conclusion-bitcoin Money.

[ademily]

Bitcoin is the most uses and popular virtual currency in the world. And most valuable currency in the world.

[adjong]

yes I think bitcoin can be called a currency or gold

because everyone playing a bitcoin just chases money to earn a living on their own or family. Because bitcoin is a convertible currency to philippines or philippines to bitcoin. maybe bitcoin can also be called a money or gold because Another site paid bitcoin not money

[Jhaypril05]

Bitcoin is a crypto currency that can be mine online. It consider "money" by others because you can have it as fiat by doing withdrawals of bitcoin. From cryptocurrency to fiat so, for me it is a money.

[cherryfer]

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 a form of money which is use for payment, buy foods o anything which can help actually for some other different thing and make i'm sure very soon the bitcoin become primary use to all, i don't know if fiat money will still alive if BITCOIN become number choice of people.

[BitPlace]

Bitcoin is a crypto currency that can be mine online. It consider "money" by others because you can have it as fiat by doing withdrawals of bitcoin. From cryptocurrency to fiat so, for me it is a money.

Yes I agree on you. Bitcoin is a digital cryptocurrency where you can only mine online. Yes Bitcoin is also considered as a money that is radically new. Bitcoin is a money from the internet where you can change it into cash and you can use it on buying something that you really wanted online and also when you cash it out, you can use it in any malls if you already change it into cash. Bitcoin can really helps you in a different ways and helps on you saving money for future.

[danielnamit]

Yes bitcoin is a money since it is a electronic money, but in some other countries wherein bitcoin is not yet legal, you need to exchange your bitcoin to the currency in order for you to use it.

[Opekin]

Bitcoin is a crypto currency that can be mine online. It consider "money" by others because you can have it as fiat by doing withdrawals of bitcoin. From cryptocurrency to fiat so, for me it is a money.

Yes I agree on you. Bitcoin is a digital cryptocurrency where you can only mine online. Yes Bitcoin is also considered as a money that is radically new. Bitcoin is a money from the internet where you can change it into cash and you can use it on buying something that you really wanted online and also when you cash it out, you can use it in any malls if you already change it into cash. Bitcoin can really helps you in a different ways and helps on you saving money for future.

I agree, bitcoin has a lot do like money is doing. Technically, bitcoin is a form of money and it is widely used in the internet and using the internet.

[Razgorani]

It is clear that Bitcoin can be used as money It can be used to purchase goods or services, used to pay for individual living expenses. The only limitation of Bitcoin is that it is limited to those places that accept it as currency.

[Laurelin]

Short Answer: 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.

[Raisa263616]

Yes
Obviously bitcoin is money.Because we can use bitcoin in our any necessary by convert bitcoin to our local currency.Any one can convert bitcoin into any local currency and we can invest bitcoin like money.So bitcoin is money that we use everytime everywhere.

[lutfi-hasan]

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 money is a digital currency and we can buy or mine it. If we do not have a small capital or capital for trading needs we can find and get bitcoin through the bounty program, after the project project is stopped at ICO we can get profit, with the advantage we can buy bitcoin or altcoin and can trade.

[Marry Finch]

Bitcoin is a digital means of payment exchange, it is a digital service, it is the reserve currency of the crypto-currency world. In fact, this is a new form of world money, part of the "new economy" of the future.

[lillyann]

In economic theory there is a definition of the concept - Money.
Bitcoin corresponds to all characteristics of money. We make a conclusion-bitcoin Money.

I will not agree. The money can be adjusted and according to the definition it is the basis. BTC no. We have a certain amount of BTC.

[Sanitough]

Bitcoin is a digital means of payment exchange, it is a digital service, it is the reserve currency of the crypto-currency world. In fact, this is a new form of world money, part of the "new economy" of the future.

I hope people will embrace bitcoin more in the future, changes is pretty normal in this world and bitcoin is a change
that gives a  good benefits to the people, we may only see few number of users now but this is increasing and we will see this big growth in the future and one of the reason why the price is increasing.