Is Bitcoin money?

[Digitalbitcoin]

Still people are thinking Bitcoin as a money or medium of exchange, but basically its not. Its a purely commodity. And value of this commodity can be affect by many factors along with its specification.

Bitcoin already have proved its importance, existence and value. So we have to learn what is Bitcoin and what are possibilities of use of Bitcoins in coming future.

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[mkmittalg]

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

[rerek007]

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?

Yes bitcoin is a money it double triple your money so far as long as you have effort patient work for it so far you can achieve your financial freedom

[snazir]

I believe that Bitcoin is new kind of money.and anything that can be exchange to fiat cash is money Bitcoin has taken a special role in the current era which is a special role in the poverty alleviation center.it's virtual.It is a new investment center that earns money but uses the internet, Just like everything else, the money will be the same.

[Souldream]

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

Precisely, bitcoin is somewhat can be considered as a money but in a digital way. Unlike a paper money, bitcoin had its dominance in a world of digital. But who would've thought that this kind of digital currency is such a higher value compared to our paper money right. Such an amazing.

[jhezmark]

bitcoin is money because you can sell it and became a real money. bitcoin is money and bitcoin is a bussiness because you can invest and you can earn bitcoin like a money. bitcoin is like money .Maybe bitcoin is the new money in the future.

[Mayapurnamasariazhari]

If in the course of its own bitcoin still signed categories money, digital money but only just. But if we users bitcoin wants we use must first Exchange to rupiah through the application tersendirinya. for example, in VIP if for Rupiah market

[alexflow]

Now Bitcoin is money, in many countries it is a legalized means of payment and mutual settlement. As well as other crypto-currencies, behind which lie grandiose projects

[Breackup]

Bitcoin is a virtual money.Bitcoin used in the buying and selling case online.It is different from all the coins.Bitcoin is very valuable and i think it's worth the price of gold.Bitcoin is a modern currency in online ,which is used to trade and do lot of other things.

[haster100]

yes offcourse it is money because you can buy or sell something with btc , and i think it will be more usable than euro or even dollar in next 5 years

[DoublerHunter]

yes offcourse it is money because you can buy or sell something with btc , and i think it will be more usable than euro or even dollar in next 5 years

If the growth in the price of bitcoin and also the demand then the possibility with bitcoin in terms of being spendable will be bigger and that is how the bitcoin will get its exposure in the market. I am really excited to see that bitcoin is almost accepted in every store so i can just buy all of the things that i want without converting my bitcoin it into fiat.

[wew13]

Yes, bitcoin is money but it's not that paper or coin money that we can touch and we had. Bitcoin is a digital money or a digital currency.

[Razo123]

Bitcoin is money. It is an electronic money that can be withdrawn as a cash or to be deposited. You can send money to your wallet and it can be bitcoin that can be purchased or can be invested.

[amwer]

Friends, if I say a currency that you can never touch, your moneybag will not be there, but you can spend and earn. Yes, friends are talking about Bitcoin. Bitcoin is a type of coin that can be heard by coins but it does not exist anymore. It is electronically saved on your phone, tablet, laptop or any storage media

[Keshiarola]

Bitcoin is a money too. This bitscoin is an electronic money or digital money that we can't hold in literal. We can also buy or sell something with bitcoin online.

[andylowe]

Now Bitcoin is money, in many countries it is a legalized means of payment and mutual settlement. As well as other crypto-currencies, behind which lie grandiose projects

Yes, bitcoin can be considered as money, it is more than a money I guess to everyone who are working here. Some people call bitcoin a new gold, so it means it is a money in crypto world. Bitcoin is really a money because it really can help you on everything especially buying sonething you really need and support financial. Bitcoin is really a big help for everyone.

[Pamela Jobelle]

No. Because bitcoin is just a virtual money. Bitcoin is a better use of accommodating without using flat money. Bitcoin is a better use when it comes to biggest amount of money and no need to pay for real money.

[CryptoPsycho]

Bitcoin is money and almost everyone already accept bitcoin and know about it. It's something strange for newbies but true, you guys should read more about bitcoin.

[callmeback]

At first glance it seems like nothing worth paying attention to, Bitcoin is a global currency, which is traded person to person without any need for a bank in the middle. digital currency does not wear, tear or break. However, you can buy some physical items which have bitcoin addresses stored on them. When you make a bitcoin transaction, the coins you spend from your wallet to another wallet have a traceable history back to the point where those coins were mined from the network.

[Ziomuro27]

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?

Yes it is Bitcoin is money, with it's easiest transaction of money you can get it in time. For one year that I experienced here in bitcoin all I can say to this currency is this is a life saving which change my life from the problems that I encountered everyday, I always use Bitcoin to buy my necessities, pay bills , paying tuition fees at school and to survive everyday, I converted it into a real money which is very helpful to me, even in time of emergencies this is the only currency which made me happy and secure for every things that I done with the help of this.