Is Bitcoin money ?

[davis196]

Hello everyone,

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

Bitcoin is money+commodity.Bitcoin can`t be stocks becasue this isn`t a corporation.

I don`t know if bitcoin is more money or more a commodity,it`s something in between,i guess.

[JeffBrad12]

Hello everyone,

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

Bitcoin can be implementing into the various definition but in my mind i can mentioning if bitcoin are the like a goods, but it's in the digital form and like the another goods is having the advantages for the people are wanna for buy them, depending with the situation the definition of bitcoin are can be the currency, stock or commodity at same time or i can say just a goods with various advantages.

[Doamader]

Well i will be selling a big part of my small portfolio because i do need to make it now, soo sure bitcoin its a payment processor and sure it is money, otherwise we couldnt use its, but we are able to purchase anything into the online wolrd with bitcoin.
                                                   

[mindrust]

Some countries classify it as a commodity but some are classifying it as a currency. It is not clear now.

To me, it is a commodity which can be used as a currency at some places. I think like that because it is not being used commony enough to call it a currency yet. It is like gold but it is being used more commonly than gold as a currency. (at least online, since nobody uses gold to buy something online i guess)

Being a currency and being a commodity is very much different than each other. For example: If you sell stuff for commodities, you don't have to pay taxes. But if you gain currencies. That's a no no. You have to giff some of your shit to the big boss.

[kongosplit]

This is the question that I am thinking the most. How it is possible to use something that is on internet. I mean in time I read about bitcoins that many hackers came here and took some ones coins. It is safe?

I read things that are saying wallet matters. I'm using an internet wallet called xapo. It is free and seems to be safe even so I trully have problems with login authentification in order that I'm not having a phone.

But using bitcoins in life this is the question. How we will be able to sell this coins in life?

How we will be using them?

I can not understand. Bitcoins are nice that are annonimus but you can get them only by trading. I heard that years ago you could get them just using your PC. but now adays it is almost impossible.

Personally I tried to get bitcoins by paying users with real cash. In 3 days of activity in the world of bitcoin from 1200 eur traded, i got scamed 800. So yeah. It is good that no one knows anything about an adress.

But going to market and using bitcoins it is almost hilarious for me

[romero121]

At the time of existence bitcoin has been considered as a token which is been used much into the transaction of big amounts. Now due to the advancement things have changed gradually. Most users consider it as a worthy investment and currency which has a growing potential compared to other national currencies which have a standard value.

[croutonhexagon]

Bitcoin is a digital money which is officially known as cryptocurrency. Actually bitcoin is not printed like paper currency our stamped like silver coins. But it is simply stored electronically or in paper. Although it's a money but there is no tax or such duties imposed by government. It is decentralized money and no one have control over this money

[avikz]

Technically speaking, bitcoin is not a money but it can be considered as an alternate investment which can fetch a much higher return than any other traditional investment.

If you want to spend bitcoin for silly things like recharging mobile or buying groceries, then you are welcome, but then you will be throwing away the chances of being rich in future. Bitcoin has a very high upside potential and you should not spend bitcoin for silly things. better you store it for longer time and unleash its power.

[ged00u]

I do not think Bitcoin is money. Bitcoin seems like property than money although people can use Bitcoin to buy and sell many things online as well as in the physical world. However, whether bitcoin is money or not, we can not deny the benefits which bitcoin has given to us. Thus, we can use bitcoin instead of money

[amacar2]

Hello everyone,

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

I think it doesn't fall under any traditional money, stock or commodity definition due to the feature and property bitcoin have.

Money: money is controlled by banks/government but bitcoin is not and also unlike paper money bitcoin have limited fixed supply.

I will better say bitcoin as decentralized crypto currency and it is another form of money and better than paper money.

[calkob]

maybe your idea of what money is could be lacking, money is anything that people accept in exchnage for goods and services

[olubams]

In my own opinion, its actually money because it can be served as a means of payment for goods and service even in the past before the advent of civilizations and government according to history, whatever is accepted as a means of exchange is money but in this dispensation that is not the only characteristic Bitcoin will have without the legitimacy which is the legal tender status by that factor is pending, then its not money...

[crairezx20]

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.

Yeah we can use bitcoin to buy something online its not just a money we can exchange them in to money in order to buy other things since bitcoin still can not use directly to buy things locally so there is some alternatives online or exchange it into money to use it.

[Kprawn]

I do not think Bitcoin is money. Bitcoin seems like property than money although people can use Bitcoin to buy and sell many things online as well as in the physical world. However, whether bitcoin is money or not, we can not deny the benefits which bitcoin has given to us. Thus, we can use bitcoin instead of money

If Bitcoin was not money, then why do I pay for beers with it every weekend at my local pub? I buy Burritos at a local street vendor that

accepts Bitcoin almost every day. It is not to say, if Bitcoin was not accepted everywhere that it cannot be seen as a currency. We are getting

closer to the day, when Bitcoin will be accepted at every merchant or shop selling some or other service. 

[MingLee]

Hello everyone,

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

I personally can't give a very good answer to this question, but it is far more money-like than the fiat currency that we have. While some people might think of it like a stock, it is more like a commodity imo, in that debate. But I personally think that it is ordered Money > Commodity > Stock.

[gandame]

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.

I think far happen that bitcoin will be money in the coming years. Because this crypto currency that can be used but do not pay all the market accept bitcoin. And we know that bitcoin is a good commodity such as you mentioned. Maybe some accept bitcoin as a mode of payment but not all.

[btvGainer]

Hello everyone,

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

IMO bitcoin is both currency and commodity.You can directly spend it and send it to anyone anywhere as long as sender and receiver both have internet access.It can also be used as commodity for investment purpose

[smho_16]

Bitcoin is money. It has much more different usage than cash money so in this sense we can classify it as a stock or commodity but in the end it remains money. It is better than cash money as it can be used online without revealing our details.

[1Referee]

Bitcoin is whatever you want it to be. In my case, the following is what I consider Bitcoin to be per case.

# Money - In the times I want to send or receive a certain amount, or simply when I buy something.
# Investment - In the times I want to use Bitcoin as a tool to make profits (which can be through trading, or long term holding).
# Store of value - I use Bitcoin for this purpose to store money outside the reach of banks and governments, and also with the intention to avoid seeing my wealth go down in value as is happening with fiat.

For others it might be different, but for me these are the most important use cases.

[genos]

Hello everyone,

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

Bitcoin is money, bitcoin is cryptocurrency made by satoshi. Bitcoin was created for better way of buying or selleing transaction that have anonimity. And bitcoin have so many adantage than use fiat, goverment can not rule bitcoin so we do not have to pay tax.