Bitcoin is not money

[coinnumber]

Bitcoin and money has the same qualities that is for transaction purposes though Bitcoin is decentralized while other fiat currencies are centralized. Bitcoin play a good role for investment purposes. Above all Bitcoin is money because we can you it to buy anything of our choice both online and offline despite the fact its not generally acceptable like other paper currencies.

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[princeyeboah]

Bitcoin goes beyond mere money because its utlization is broad and cuts across various aspects in life. It has become the standard of measurement for most cryptocurrency on the market which makes it a global spectacle. Bitcoin is seen by others as currency, whereas others see it as an investment opportunity. Some also see it as an asset. What matters most is that the ability for it to fulfil what the user intends to utilize it for.

[killat]

I know it seems like silly little internet money, but I believe in the technology. Not trying to sound crazy. It is an investment and can hit ZERO, but I seriously doubt it. Been riding the wave for 5+ years. It started with gambling with it, but then I bought a bunch and HODLed...

[Babyrica0226]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Honestly, literally and physically Bitcoin is not a real money,  if you are going to compare it into fiat currency.
but in terms of digital currency assets, for me it is money. Why? Do you know how much each bitcoin now? according to
https://coinmarketcap.com/currencies/bitcoin/ it is 8661$ each bitcoin, and it can be up or down in an hour due to its volatility.
Also, if bitcoin is not a money for sure bitcoin won't stand for 1 decade and no value now in the market and it is not exist
anymore. But that's not what happened so far, instead many whale investors and big companies adopted it and embraced the
potentiality and uniqueness of bitcoin.

[jarimak]

I think you need to know how bitcoin works so you can recognize it is currency and money.
most people can speculate here that bitcoin is your money for you, which can be used as money right.

[sandra_1]

I think you need to know how bitcoin works so you can recognize it is currency and money.
most people can speculate here that bitcoin is your money for you, which can be used as money right.

Yes, I agree. You can also buy a lot of things using BTC or pay for some services with it. I think that's one of characteristics of money. I believe that cryptocurrencies will displace physical ones, but for now - it's still a distant future.

[Amakre]

Money is an accepted means of exchange and measure of value...if we go by this definition, Bitcoin can be evaluated to be called money because it is a means of exchange and most importantly a measure of value. 1BTC is over $8,000☺☺

[bitbunnny]

Bitcoin is not fornaly recgonized and legaly regulated as money or to be more precise as currency. Still that doesn't stop it to function as a payment method so many people, including me, use Bitcoin for buying different goods and services. So although is not formaly included in financial and monetary system of any country Bitcoin is still used as money.

[Kasabus]

Money is an accepted means of exchange and measure of value...if we go by this definition, Bitcoin can be evaluated to be called money because it is a means of exchange and most importantly a measure of value. 1BTC is over $8,000☺☺

That's correct, if bitcoin is not money, why people are hoping its value will increase?
Further, the fact that we are investing on it, that would determine it has a monetary value which we like to see higher in the long run, so we can take profit. There are also articles that are saying money or fiat will be replace in the future by crypto, and I think there's a slim possibility.

[niisarearning]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Bitcoin is more than money its holding asset for me its more value than gold having limited supply i was getting gold for future purpose now i concentrate on collecting bitcoin . Hope in future even 1 Piece ( satoshi) will equal to 1 $.

[klaaas]

Bitcoin is more than money its holding asset for me its more value than gold having limited supply i was getting gold for future purpose now i concentrate on collecting bitcoin . Hope in future even 1 Piece ( satoshi) will equal to 1 $.

Even better, you got a share in a asset you can trust without a middleman and under your own control.

[btc78]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

So when you say artwork then we cannot use to purchase something unless we converted into fiat first?and why it seems that you created an account to create stupid thread?why not just find you way work and have some living than just bullying crypto specially bitcoin

[Lintel]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Bitcoin is not money but you can convert it into money through exchanges so for me I still consider it as a money as I can use it in paying also my bills.

[YOSHIE]

Who, who says Bitcoin money, no one acknowledges that bitcoin is money,
what is meant by bitcoin is: BITCOIN
What can be said is that Bitcoin is a form to make money when people understand trading and investment systems that is the Bitcoin savior for the general public, poor and rich.
so this Bitcoin is a system that plays with real money every country.

[serjent05]

Who, who says Bitcoin money, no one acknowledges that bitcoin is money,
what is meant by bitcoin is: BITCOIN
What can be said is that Bitcoin is a form to make money when people understand trading and investment systems that is the Bitcoin savior for the general public, poor and rich.
so this Bitcoin is a system that plays with real money every country.

Fact check...  What is money?

We all agree that Bitcoin is a currency right?  Because Bitcoin can be:

a medium of exchange
a unit of account
portable /durable
divisible
and fungible

it only become a money if it can be a store of Value. Bitcoin can be a store of value so we can say Bitcoin is money but Bitcoin because of its high volatility can be considered poor kind of money.  Since the definition of good money is :


source : https://www.philadelphiafed.org/-/media/education/teachers/resources/fed-today/Functions_and_Characteristics_of_Money_Lesson.pdf

In short Bitcoin have all the characteristics of money even though it fare poorly on the stability but it excel on being scarce.  Poor money or good money, Bitcoin is, by definition, a form of money.


learn more about  currency and money here : https://youtu.be/DyV0OfU3-FU?t=239


edited for more source

[markcryptoexpert]

People give value to things. Why FIAT currency is currency? Beacuse a lot of people accept this and use it.

[bhabygrim]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Nicely said ,
It is what we think it is ,Because most of us also see's it not as a money but as an investment,
So we all have different opinion about it but it is quite true Bitcoin is an art of a famous artist hidden in the pseudonym Satoshi Nakamoto.

[CARrency]

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

For artwork with 21 million limited editions, it is so over-priced but I did not say that Bitcoin does not deserve this kind of price. Bitcoin deserves it that is the same as the investors that own parts of it. It is true that it is not money, for me, it is a masterpiece by one of the greatest person or group that this world ever has, Satoshi Nakamoto.

[izanagi narukami]

It is an asset but it can act like fiat/money.
So when I see people comparing between bitcoin and money, they are not the same.

When bitcoin being launch, it's really change people's mind about transaction and investment can be done at same time !

[Wayan_Pedjeng]

When we label something as money, it must be having two important characteristics. First of all, it must be accepted in a majority of the shops and retail stores. And secondly, it must have a stable exchange rate versus the universal trade currency (i.e the United States Dollar). Unfortunately, right now Bitcoin is devoid of both these characteristics.