Is Bitcoin money ?

[iam2good]

 Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

[densuj]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

In my opinion for right now bitcoin is commodity like gold or silver, but in the future maybe it will become money if there are many people who use bitcoins for payment method. And moving bitcoin's price is like stock when i traded bitcoin to fiat.

[darklus123]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

Money:
something generally accepted as a medium of exchange, a measure of value, or a means of payment:

stock:
the supply of goods available for sale in a store

commodity:
something that is bought and sold

source: http://www.merriam-webster.com/dictionary/


basically based on the definition above bitcoin is any of those but obviously it is a currency, it is a technology so you don't have to confused your self by what bitcoin really is because bitcoin is bitcoin and that's it

[noictib]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

this is a online and worldwide payment system so i think it would be fall into money category .
while many if users using bitcoin for earning through trading so we can say a way to get better opportunity of business so we can categorized it in the business category or trading category .

[Juggy777]

For me it's a hybrid. For one person it's a currency. While other may term it as a commodity. There is no fix definition for this. All it depends on what you wanna see it as. For me it's both. Though I am treating it as a currency though.

[stomachgrowls]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

Money:
something generally accepted as a medium of exchange, a measure of value, or a means of payment:

stock:
the supply of goods available for sale in a store

commodity:
something that is bought and sold

source: http://www.merriam-webster.com/dictionary/


basically based on the definition above bitcoin is any of those but obviously it is a currency, it is a technology so you don't have to confused your self by what bitcoin really is because bitcoin is bitcoin and that's it

This would  be  the precis  answer  to your  question OP.  Because  its  being mentioned  here on what  category does bitcoin belong and  it shows  on 3 aspects  and  its right  in my own perspectives.  If  i would   choose  among the 3,  i would say  its a money hence its a digital currency after all.

[sotoshihero]

Yes, I think they are the same as a medium of exchange while bitcoin is a currency that is intended to be used online. Bitcoin is same as money as they have value also that you can used to buy,trade and spend.

[whizter]

Yes, I think they are the same as a medium of exchange while bitcoin is a currency that is intended to be used online. Bitcoin is same as money as they have value also that you can used to buy,trade and spend.

yes agree with you bitcoin is money as we can use it for buying selling and for exchange, but it can be use directly both for online trading and also in local markets, it can also be use as property as when the price of bitcoin increases its value also increase.

[ariesjia]

For me bitcoin is a money as I can buy things online using bitcoins and if I am in need of paper money then I can easily convert my bitcoins to my local currency and can purchase anything that I want, and the best thing about bitcoin is it keeps on growing over a period of time so if you can manage to save good amount of bitcoins then you can expect higher returns from it.

[ivanst776]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

It can be all of them it only depends how do you consider it, some people use bitcoin only to purchase things so it is like a regular money.

Some other use bitcoin as an investment and as a good asset which expect a profit after a period of time, personally I consider bitcoin as money as investment as a commodity so I try to spend as less as I can and save bitcoin more and more.

[OpenTalkLab]

Bitcoin is same as money only differences between them is bitcoin gives you more benefit than using money.You don't have to give tax or extra fees for using bitcoin.You will be able to send or receive payment within seconds.So, for me bitcoin is same as money with many more options.

[Seansky]

In terms of classification, I think bitcoin will fall into money but not quite since it is virtual money. It is spent on the internet as a medium of payment, and then converted into fiat. I won't say it is a stock or commodity even if it is similar since Satoshi Nakamoto created bitcoin to be a decentralized digital currency meant to be used online to pay safely without exposing identity.

[BingoDog]

Bitcoin acts like money and we use it as money for paying goods and services. But in legal terms and terms of regulation it is not everywhere defined as money. The problem is that there is no unique attitude towards Bitcoin in that sense.

[Ryananda]

Good question, friend. Maybe if my opinion is more accurately called bitcoin digital currency.
Because bitcoin has such value for money and also fluctuates. And in bitcoin we can invest and trade.

[gilangIDR]

bitcoin can be regarded as money. because bitcoin today can be used to purchase a variety of our needs. bitcoin is also known as a currency substitute, ie digital currency.

[mia_houston]

I can say bitcoin is money because for what you earn bitcoin learn more about bitcoin etc'' that for money right..if it does not produce anything for what you play bitcoin

[talkbitcoin]

Hello everyone,

    i am just confused as what classification Bitcoin will fall into, money,stock or commodity?
 

first of all why do you want to classify it? bitcoin is open and decentralized so there is no need for classifying it just like everything else that government controls.

besides why not all of the above?
you can use bitcoin as all of them, a currency an investment , commodity ,... and that is actually the beauty of bitcoin and why it is growing so much these days.

[Junko]

In the US, Bitcoin is officially classed as a commodity like gold and oil and covered by the commodity exchange act.

To me personally and I'm sure for many others, it doesn't matter - money, stock or commodity. Bitcoin is a global network and it doesn't care what regional governments have to say about it.

[bitbunnny]

For me Bitcoin is money because I use it as money. And probably for all other people who use it as a payment method. Afterall it's a cryptocurrency, right? But legal definitions may vary depending from country to country. Some treat is a commodity too.
But this is a question that we can disscus and probably everyone would have it's reasons why to treat Bitcoin as money or not.

[Wind_FURY]

Bitcoin is something entirely new and there is no way to classify it for sure because the quick advancement in cryptocurrency technology has surpassed what the laws and regulations have available. It will be hard for the authorities on how to regulate it due to the peer to peer and its decantralized properties. They would have to shutdown the internet to stop cryptocurrencies.