Is Bitcoin money?

[dvillier]

Sure, bitcoin is a money and it is called crypto currency and you can earn bitcoins and can changed to any other currency according to your wish through various exchanges. Bitcoin is still not using directly for payment in maximum shops of the world or any other places there are some news coming about bitcoin payment but still not sure. But bitcoin accepting as a payment will also be start.

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[Souldream]

Of course, bitcoin is money. There is money in bitcoin. When you buy bitcoin it would grow like a tree. It's like a tree money. Provided that you invest in the right program and surely you will gain profit.

Yes bitcoin is a money in a sense of digital. It is a money or currency because we are converting it or we exchange it into fiat which is a money to money basis, a digital money to a fiat basis. Also like a real situation in fiat, bitcoin is also used of some bad ass in an illegal matter which is this situation is common in fiat.

[btcrut2017]

Of course, bitcoin is money. There is money in bitcoin. When you buy bitcoin it would grow like a tree. It's like a tree money. Provided that you invest in the right program and surely you will gain profit.

Yes, bitcoin is money and it is a digital one. There are some countries that accepts bitcoin as payment for the commodities you buy online. But there are also countries like ours who does not consider bitcoin as a mode of payment. Hope one day they will accept bitcoin.

[chikading2016]

BTC is money because it is now a financial system. we can cash out it on ATM machine with card or cardless through conversion to fiat money. the best thing about it is we have the opportunity to buy it when the price fell down and sell when it gets higher in short or long period of time.

Bitcoin is not direct money but it's almost very close to fiat money. You can sell and cash it out in lots of place in the world. Most of the people knows about it and they don't miss it.

I agree to both of you. In my opinion, precisely bitcoin is a money. Because bitcoin is connected to fiat money. As long fiat money involved in bitcoin we can call it as money. We can cash out and earn money, buy anything, and paying defferent kind of bills.

[Farma]

BTC is money because it is now a financial system. we can cash out it on ATM machine with card or cardless through conversion to fiat money. the best thing about it is we have the opportunity to buy it when the price fell down and sell when it gets higher in short or long period of time.

Bitcoin is not direct money but it's almost very close to fiat money. You can sell and cash it out in lots of place in the world. Most of the people knows about it and they don't miss it.

I agree to both of you. In my opinion, precisely bitcoin is a money. Because bitcoin is connected to fiat money. As long fiat money involved in bitcoin we can call it as money. We can cash out and earn money, buy anything, and paying defferent kind of bills.

well, you can use bitcoin as money, and you can also use it as an investment tool, many people use bitcoin with different functions. I consider it a profitable business, and of course it can produce fiat.

[dyablo]

Bitcoin is intended to be used as money. The extent to which it differs from the various definitions of money is primarily due to its unpopularity and lack of government sanction, which in my opinion should not matter when speaking about it as "money."

Bitcoin is used as a exchange medium, so it can be called money. It is a digital money used by many people around the world by means of internet. It can be use to pay bills and purchase a product just like a fiat currency do.

[sesilab]

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]
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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?

Bitcoin is one of the largest virtual currency market capitalization. In addition to bitcoin, there is also ethereum, ripple, bitcoin cash, cardano, NEM, litecoin, and so on. Currently, bitcoin market capitalization reaches 246 billion US dollars. market capitalization of ethereum and ripple respectively 133 billion and 79 billion US dollars.
Thus, until January 13, 2018, total market capitalization of virtual currency has reached 752.542 billion US dollars. The figures are based on data from CoinMarketCap .

[bigboss2]

Bitcoin is not money at present but in future Bitcoin will be used as money. Bitcoin is the best investment mode in the world.

[Robin_Good]

even rocks can be money. It is only necessary that society to recognize its value

[bitcoinsocial09]

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 new kind of money. It is a kind of money because you can use bitcoin to buy those things that you need. You can use it in exchange the things that you need and want. Bitcoin is has also a relationship int fiat. If bitcoin is not a money, why people still depend on it. Therefore, bitcoin is money.

[harishkumar]

when the price rise of bitcoin ?

[SteshaScott]

Personally I think, what is and what isn't money is more of a legal definition than a theoretical one.

[LeoHonek]

Bitcoin can be considered as a form of money. Bitcoin goes beyond that aspect as we all know but there is a one problem with bitcoin. Bitcoin is not legal money and many countries don't expect it like real money.

[harimauagam]

money stored in the wallet or also called private kay name, can be stored as much as possible from there we follow the signature if successful but if it fails only empty wallet,

[Md.Sufian]

They don't understand that bitcoin itself is money. The fact that you can trade with it, buy with it, save with, and earn with it makes it similar to dollar. It has a future but its still not accepted and adopted by all. In my opinion, it will dollar.

[Harrisonimo]

Bitcoin is money unarguably! Just like a friend was looking at someone's wallet today and was asking if it was real money. I simply told him of how real it was through a practical procedure. So, believe it, it is for real.

[Ricaking]

I think if bitcoin money is as long as it has real dollars value and it can be converted to real FIAT currency I think it can be considered money. As long fiat money involved in bitcoin we can call it as money. We can cash out and earn money, buy anything, and paying defferent kind of bills. In fact is better than regular currencies cause it can be spent anywhere in the world without restrictions. Printing more money technology can never fool the bitcoin network like with the central banks that fools the people, so it is money which in fact is better than regular FIAT money.

[kikay15]

bitcoins are just like shells or furs in ancient times - of course they are not banknotes or coins, but it's money, because they have all the functions of money

Yes bitcoin is money,  because they have value and high value so its real money.  And you can used also for online. Even its digital currency but its money so every people are like bitcoin and they used it also. 

[jeraldme]

+1 agree that it is not money.  However, if it was a pure commodity then it would necessarily require some (even minimal) use value, beyond an exchange value.  Right now bitcoins have a 0% use-value and a 100% exchange value (eg, if they could not be exchanged for something else, they would merely be taking up space on our harddrives and are inherently useless, like random chunks of data).

Everything that have a value is money.  Just like bitcoin, it also money the diffirence is it is digital currency but you can also exchange to real money but its expensive one to exchange.  But you can also used it online by buying your needs in online shop or paying bills.

[rasmadisulaiman]

Bitcoin is something new in the digital world, bitcoin offers something new that we have never seen before. Bitcoin can be either money or a means of payment, bitcoin can also be a valuable digital asset in the future.