Is Bitcoin money?

[meidut]

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.
The main functions of money are distinguished as:
- a medium of exchange; a unit of account
- a store of value
- a standard of deferred payment
Any item or verifiable record that fulfills these functions can be considered as money.

I would say bitcoin is money according to the definition, though I know there are more definitions being used such as it being 'the medium of exchange defined by a government..

[idream]

是的，比特币是一种虚以货币，跟腾讯公司Q币相似，但已经可以购买现实生活中的物品了，可以在世界各地兑换。

[xiaoyu666]

Now bitcoin is directly accepted as a currency, but you can think of it as a commodity, and you can sell it for money and buy goods.

[Ziskinberg]

Yes i consider bitcoin the new money because we can now buy things using bitcoin just like a real money. Bitcoin has been a big help to people who have been using bitcoin. Maybe bitcoin can be the future money.

I also consider that bitcoin is money because like money, bitcoin is using for transaction. Bitcoin can be used for their daily expenses. Bitcoin is a form of money that can be used in online. As long as bitcoin has a value and can be used in any transaction, you can called it as a money.

For most of us bitcoin is money. It is a digital money. It can be converted into a real money. It is used as medium of exchange so it is money. Every profit from every transaction in bitcoin  is money. But the main use of bitcoin is it is a decentralized payment system.

Bitcoin is more than a money to me, it changes my life and I believe it's good to hold this for long term.
Money will be subject for inflation as you continue to hold it and that is why if you are wise you will take time to think and make a decision to invest with
bitcoin.

[iamevsandiamcrealifer]

Everything you may use paying for products is a money. So bitcoin is the money as well as the USD

[gurupauts]

In my opinion, bitcoin can also be said with money because we can use it to buy something and bitcoin is a digital currency which of course also applies online.

[Siren]

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 c irculating 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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[/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?

for me yeah bitcoin is a moneh but in virtual ,money that you can use anytime anywhere only to those accredited by the said coin..this money can be for faster transaction and can be transfered to anyone this is a money that you can reqlly say YOUR OWN becausew its safe and freedom thats why im hoping that this money will be spread world wide and can be use for all things what ever the value is

[Senja Kemuning]

I think yes, bitcoin is money because we can use for transactions like money, but bitcoin has advantages that are always increasing value so have bitcoin is a very profitable thing.

[Leanna44]

Bitcoin maybe the best form of money we used today, its a digital payment to any networks, and we exchange our bitcoin currency globally, we trade it to person to person buy and sell and make our bitcoin grow and also we can convert our bitcoin into money in bitcoin exchange.

[chiefthor]

Bitcoin is money on the internet, but most people consider it a tool for gambling, or trading tools. You can use it the same way. Bitcoin is new and it has many things that make it different from the kind of money that we usually use in these years. Bitcoin can be a source of cash for your needs, just like your income from work. Yes in your country of residence. But you can use bitcoin in the transaction using wallet like coin.ph in this you can make transactions like bill payment, purchase or even convert your bitcoin.

[Lun4t1c]

Yes, virtual money

[shintosai]

In my opinion, bitcoin can also be said with money because we can use it to buy something and bitcoin is a digital currency which of course also applies online.

it's applied as a currency since we are using it to pay our bills online and we can transact using this system, if most people only learned and realize
how we can take advantage  with this new currency then it can be adopt all over the world and let people be liberated and have its freedom to enjoy
the easy transaction process.

[mrfegit]

I think Bitcoin is considered as an investment or an property so properly we can consider it as money.

[newbie-hero]

Bitcoin is money. But for the moment it is very expensive and slow. If the problems are corrected, we will use it as currency in the coming years, not as an investment instrument.

Bitcoin has the main features of the world currencies like dollar or euro. Bitcoin is widely circulated, it has millions of followers and no full background in the real economy like dollar for example.

[nhanhzam]

Bitcoin is indeed money. In fact, Global money ! 

[Caraphernalia]

Definitely yes, it is obvious that bitcoin is a money. A money that is good for different business transaction. Bitcoin itself proves the it is a money by its own characteristics which is credebility. Bitcion like money is now can be use for buying and selling online products. Bitcoin is surely a money for its benefits to people.

[Alexnelepa92]

I think it's "money"... I mean, I've cashed out a lot from bitcoin and had the physical cash in the end, so yeah for me I guess it is considered real money.

Bitcoin is the world's first decentralized digital currency. This currency is fundamentally different from all previously created electronic currencies and payment systems. It is not tied to any physical assets or "official" currencies, and the price of the digital coin — bitcoin — is regulated solely by market supply and demand.

[thenameisjay]

True enough. Explained well. Bitcoins are not technically money and people think that bitcoins are actually money. We don't use on a day to day basis and there is no actual value to it. Meaning there is no gold reserves for it. It is technically an asset. Bitcoins are not government-issued as well. That is the nail to the coffin.

[Creepings]

Bitcoin is indeed money. In fact, Global money ! 

And how can you say that? Since a lot of people are using bitcoin and been sending from country to country? Bitcoin may be used by a lot of people world wide but I don't think it can be described as a "Global money" or even money. Money are issued mostly by the government, it is used as the blood flow of one's country, without it, it will die and bitcoin, even without flowing in a country, will not affect the country unlike real money.

[lampukoe lumo]

Bitcoin money for me is a very popular and very expensive digital type of money, and bitcoin is a money that can buy an item online and bitcoin is a place for investment, and bitcoin is known for its very expensive and very popular digital money.