Is Bitcoin money?

[kadutz25]

Bitcoin is a possible currency, and is intended to be used as an intermediate unit. However, it does not require legal support from any government; So no fiat and now bitcoin be the pros and cons in the middle of government

[reneko]

For me,bitcoin is money. it gives me money to solve my problem, my needs,my all problem.

[Tuesto]

It's not just a new generation currency, , it can also be the global currency of the world. Bitcoin's long-term presence showed us superior power over all other currencies. Bitcoin was even under. This is the most obvious example.

[Tuesto]

Bitcoin is like a being, a value that can be transformed into money at any moment.
But at different times there is a different value.

[Tuesto]

My openion they are used for transactions like buying things on the internet. The more people who own Bitcoins the rarer it gets.

[Tuesto]

According to my opinion you are not supported in other countries; because those countries have a printed country administration. More democratic countries are allowing it.

[Ms Emi]

Bitcoin is a digital currency, people call it money here since its description is the same with the function of money and it will confuse some newbie if we call it in another way..wherein you can use it to purchase something or pay something.

[LynielZbl]

Bitcoin should really not be considered as money, because it is a digital currency but there are other online business were accepting bitcoin as a payment or it has been given a monetary value in terms of usage for anything from goods to services. And also it can be termed as an investment instrument or asset or stock that gets traded for the purpose of making profits. Most people nowadays who believe that investing bitcoin can help them to grow their capital and earn more profits of it and having more Bitcoins means having more "money" in your pockets due to its value, but still it cannot be termed as money.

[Tuesto]

Hi  everyone. They are utilised not only as payment. For regular individuals, they're considered only as payment. For that economy of the country - it is really an important device. Bitcoin doesn't have the capabilities of supporting the economic climate. Therefore, it cannot be called full-fledged money meaning that is available now

[Gobeller]

Correctly stated that money is any object that is used to calculate as payment for goods or services. Therefore, the Crypto currency is quite suitable for this formulation of money. On the other hand, a crypto currency can not be a commodity, since it also performs, in addition to the function of a payment facility, also a function of storing value and a measure of value. These functions are not inherent in the product and are only signs of money.

Bitcoin is money, but it's in the form of digital currency. This is the factor making bitcoin different than the conventional money. One can use it as money after cashing it out, or trading it via fiat money.

[anitaraymonds]

Money is any thing that can be used to make payment for goods and services. Based on the afore mentioned definition then Bitcoin can be said to be money.Bitcoin has been used to settle dept and services exchanged by 2 persons or companies.

[Encryptprince]

anything use in exchange of BTC gold and important is money for instance i think god has really made very few value but since prehistocical ages men have noticed the fact that gold could be used as a medium of exchange is money

[Alex789]

bitcoin is the digital currency because of the currency bitcoin for exchange and conventionally, bitcoin has a very different value than other currencies

[crypto1010]

I like to think of bitcoin to be cash equivalent not really to be money because people treat bitcoin differently because of its vast uses, for instance, people say bitcoin is stock others call it an asset others simply call it digital money but whatever gives btc is still money because it aids the exchange of goods and services.

[Robin1020]

Bitcoin is a digital offline currency. It is not a symbol of any country but it is the world's most valuable asset. Bitcoin values are above all.

[propagate]

I have done work and got paid in Bitcoin.

I have purchased goods with Bitcoin.

I save money in a wallet like a money piggy bank.

All of the above shows it works like money.

[bright4mech]

Bitcoin is an asset and every good things we need to have, and is an a digital currency that is acceptable all over the world and also, we make use of it online buying and selling and more over, bitcoin is more valuable than our local money.

[Skieleton]

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.

[leviathon]

This question sounds funny in 2018. It is a digital currency so it definitely is money. You can't use it offline as of now but same thing is with offline currencies. You can't use one country's currency in other (unless you convert).

[yummydex]

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.

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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 think bitcoin is also a money in a manner that this can be use to purchase things over the internet.Since we all know that money is defined as a medium of exchange in financial transactions between citizens and with government.