Are Cryptocurrencies Really Money?

[Wenbing]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

[1715049603]

1715049603

[Coyster]

1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)

AFAIK, no country has 'offially' started using CBDC as of yet (correct me if I'm wrong), so you can't really state categorically how it's going to be used, mind you also that CBDC's will vary based on the country, so how each country decides to use their own might vary as well. But one thing is for sure, it's going to be centralized and controlled by the government, is it money? I think so, more of a digital fiat money.

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

Yes of course, Bitcoin is definitely money cause quite a lot of people give it out in exchange for goods and services, though it can serve some other purposes like investment for instance; but that doesn't take away the fact that it's money, a currency without a third party manipulation, it's a form of money that comes with control and freedom for it's users, it's definitely money, but different from the generally accepted and manipulated fiat currencies.

[Reid]

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

[istiak2277]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Some countries like chain and Russia already trying to make their CBDC but it's not actually like crypto. Crypto was meant to create a decentralized financial system without any central institution. Voting results show people like crypto better than fiat and I think it's because of the high potential growth of crypto. Use case of crypto as money is not properly visible right now.

[Wexnident]

CBDC isn't really released or used for what it was supposed to be, so that's why the polls were made as such. It's money imo, the government would make it as such, and would also make the public realize it as such. In the end, money can be defined as a medium of exchange that the majority approves (or is approved by a governing body), and seeing as it's under the government, you can expect it to be like that. As for crypto being money, as I said, money is just in the end a medium of exchange agreed upon, so yes, you can technically say that the poll is naturally correct. Most issues arise from the difference of money(fiat) and crypto is mostly on how fiat is centralized while the latter is decentralized.

[Poker Player]

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

I agree with this, most surveys are unreliable.

As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset.

[yhiaali3]

I do not think that these surveys represent the largest segment of society, perhaps the survey was conducted on people who do not know much about cryptocurrencies, perhaps also do not know the difference between cryptocurrencies and digital currencies, this poll is contrary to reality as we clearly notice the spread of Bitcoin in the world increasingly day after day, the global adoption of Bitcoin by large organizations is also increasing.

[witcher_sense]

To be honest, these are quite expected results. Twitter has long become a place for the cryptocurrency community to live and talk in. The vast majority of those who participated in the given poll obviously consist of cryptocurrency enthusiasts who already became familiar with the real notion of what money is. Money is something that is chosen by the participants of a free market. Money cannot be coercively imposed by governments. That simply doesn’t work long-term for the reason that no single party can know what the market needs at any given period of time.

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

https://twitter.com/IMFNews/status/1349763276465385478 1st poll
https://twitter.com/IMFNews/status/1350851537749348353 2nd poll

[exstasie]

1. Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2. Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

They said "digital currencies," not cryptocurrencies: https://twitter.com/IMFNews/status/1349763276465385478

Big difference. But the fact that people said digital currencies are money, but CBDCs aren't, is quite curious. That does sort of imply faith in cryptocurrencies, and skepticism of fiat money.

[bassbity]

Voting results cannot be said to be accurate and cannot be accounted for as a whole. Though this is made to find out how far your signal is on social media. Even with data that only relies on two questions I can't say it's accurate. if it's related to cryptocurrency ,. then obviously without thinking it can be categorized as money. which are converted into assets and have value in them.

[Leviathan.007]

Cryptocurrencies are not money at lest not like the paper money you know and use everyday. Your money got an stable value and backed by gold, usually. You can pay 0.1usd for a something in cash without transaction fee. While cryptocurrencies you can't do such things. Cryptocurrencies are not money these are assets, just like gold, real estate,... You invest on it in order to earn some profit and just hold them. However, you can trade these assets for other things. But cryptocurrencies are not the real money at lest not right now, Maybe soon, after evolveation of cryptocurrencies.

[Fesatmas]

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

I will say yes. because this is only related to physical and digital form. and in fact the two of them will become one unit. where banknotes and digital money you can use in different circumstances. maybe that's what sets it apart. but its function is still the same, namely as a medium of exchange.

[Wenbing]

1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)

AFAIK, no country has 'offially' started using CBDC as of yet (correct me if I'm wrong), so you can't really state categorically how it's going to be used, mind you also that CBDC's will vary based on the country, so how each country decides to use their own might vary as well. But one thing is for sure, it's going to be centralized and controlled by the government, is it money? I think so, more of a digital fiat money.

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

Yes of course, Bitcoin is definitely money cause quite a lot of people give it out in exchange for goods and services, though it can serve some other purposes like investment for instance; but that doesn't take away the fact that it's money, a currency without a third party manipulation, it's a form of money that comes with control and freedom for it's users, it's definitely money, but different from the generally accepted and manipulated fiat currencies.

I think the first response is to show how people's reaction to digital currencies and their acceptance of crypto instead. However, the time is not ripe to make a definite claim on its acceptability level.

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

Here is one of the link I could find on IMF handle.
https://twitter.com/IMFNews/status/1350851537749348353?s=20

You can also go through the thread created by IMF to see other related polls.


[moderator's note: consecutive posts merged]

[Kakmakr]

If whatever money is generated by the Central Banks and backed by their government... then that money is seen as "real" money. (Popular public opinion)

When everyone else generate currency, it is seen as "Private" money and in most cases not accepted by governments. (making it illegal) ....but some people use tokens to trade in a barter fashion to bypass these restrictions. ( I can trade my private tokens for say dolls and nobody can stop me from doing that)

Governments will take notice when your tokens become popular and their "Fiat" currency are threatened to be replaced... then they will shut you down. (Bitcoin and other Crypto currencies are difficult to shut down, because it is a distributed/decentralized network)   

[iamsheikhadil]

Cryptocurrencies are definitely money, and by money we mean something which we can use to prove our work and hence we can use it to get something of equal value in return from the planet. When miners use their electricity and computer power to mine bitcoins, they are technically wasting away their resources and energy to mine bitcoins, which is why these bitcoins have value because energy isn't free, it's not something that can be printed out of thin air!

[Silberman]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Instead of trying to look too much into the pool itself I think this is interesting from the perspective that many people are waking up to the fact that any form of currency created by governments and central banks is defective, and not only it is defective it is defective in such a way that benefits them, it really seems that the idea of an independent form of money that is not regulated and which is decentralized is catching up with people and that is really important as most likely the next big crisis is going to be caused by fiat currencies.

[2double0]

Being unaware of any CBDCs, I cannot comment on it.
But cryptocurrencies are definitely not money, but assets which can be bought with and sold for money. They are confusing people by asking such questions when none of the Governments have declared crypto as money till date.

[arallmuus]

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

Everyone that voted YES for this means they atleast own some cryptocurrencies otherwise they would have voted for NO. Majority of people would still think that cryptocurrency means bitcoin and only bitcoin which is lame

Cryptocurrencies are definitely money, and by money we mean something which we can use to prove our work and hence we can use it to get something of equal value in return from the planet.

What does money means for you? For the mass majority, it would means as a medium for exchange. That means unless you can purchase something with it, its not money for the mass majority. In some country, you can purchase things directly using crypto but in majorities of other countries you cant. Do you get my point?

Its just a matter of perspective

[adzino]

-snip-
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Can you provide us a link to the poll? You sure the poll was created by International Monetary Funds? Or was it created by a "crypto" related page or a crypto enthusiast user? If that is the case, the poll result maybe highly be biased. If that isn't the case, then this is really weirdly impressive that to see regular people are "against" bank. I wonder why many people think digital currencies issued by bank isn't real money. But then again, the poll results might be inaccurate. So we can't get our "hopes" up thinking that people are now realizing what is wrong with currencies issued by central authority.

[posi]

The polls result in shows that people around the world seem not to trust the government and their centralization and since they are unable to manage fiat currency properly nothing guarantees that they will manage the Central Bank Digital Currency. Besides, the institutions shuffling into Bitcoin as their reserve fund have open the mind and eyes of a lot individual that didn't trust Bitcoin before.

[Terrell]

Unlike currency, money has an intrinsic value and cannot be created at will. Despite its well known classification as a “cryptocurrency,” Bitcoin cannot be a currency because it has intrinsic value.

[Josefjix]

Bitcoin, Ethereum and other credible cryptocurrencies are money and can be classified as such. They result of the pool speaks for itself on behalf of the whole crypto users those who voted NO in response to that of the CBDC's kudos, truth be told some people would complain of transaction fees involved in using crypto as a payment tool unlike the use case of "asset value stored"..... If people are willing to offer a service and be paid equivalent of it through cryptocurrencies then it makes sense to further accept the result of the pool which accepts the idea of cryptocurrencies being money.

[DrBeer]

A certain entity can be called money only if certain conditions are met:
- their issuer is the state
- is a legal means for making payment transactions
- they must be accepted by all objects of the market and financial relations for payment on the territory of the country for any goods and services
- the income of any citizen of the country can be calculated, accrued and transferred in this payment entity
Anything that does not fit into this concept can only be considered a monetary surrogate (for example, specialized coupons or product cards, or the like)

[Rengga Jati]

1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

I'm quite surprised with the result of the poll and very curious where you got the poll. It is true, if the link is here, we can really check the truth. I think that CBDC is the money itself because it is issued by the government.
Like what has been explained here:

CBDC stands for “central bank digital currency,” a new type of currency that governments around the world are experimenting with.

Source: Coindesk
CBDC is expected to be a new payment technology, using blockchain also to ease the payment and also transaction more efficient and also lower costs. However, it may be only exact in only certain countries issuing the CBDC.
However, cryptocurrency is expected to be a global payment method accepted by all people, merchants, and also parties in the world. But, many countries are also not legalizing crypto for payment.

[blue_nexus15]

The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Cryptocurrency / electronic money is a higher level version of cash( it’s money).  The conversion and conversion options of cryptocurrencies will play an important role in the future to redirect the economy to all monitoring and circulation.  The manipulation of the options in that survey proved that blockchain is the key.  WMZ, PAYEER, ... because they don't create as special as blockchain.  Decentralization is also a big concern.

[Shasha80]

Maybe because CBDC has not been officially used in many countries, making some people still unfamiliar with CBDC. Or it could be that many people
have lost confidence in any product from the government, so show that disappointment by preferring cryptocurrency as really money. Today people
want freedom more, and cryptocurrency can give users the freedom to manage their own finances. So it is only natural that many people end up
believing that cryptocurrency is really money. Although maybe the poll is not accurate, it's because I also trust crypto more than fiat. Make me agree
with the poll results.

[davis196]

Cryptocurrencies are not money at lest not like the paper money you know and use everyday. Your money got an stable value and backed by gold, usually. You can pay 0.1usd for a something in cash without transaction fee. While cryptocurrencies you can't do such things. Cryptocurrencies are not money these are assets, just like gold, real estate,... You invest on it in order to earn some profit and just hold them. However, you can trade these assets for other things. But cryptocurrencies are not the real money at lest not right now, Maybe soon, after evolveation of cryptocurrencies.

1.Fiat money aren't backed by gold since 1973.
2.If you send fiat money via a bank transaction you have to pay a transaction fee.Paper money is different.
Do you pay a transaction fee,if you give paper Bitcoins to someone on the street?I don't think so.
Cryptocurrencies are an asset,but they are also medium of exchange.You can't buy something by paying with real estate,can't you? Real state is not a medium of exchange.

[Obito]

Bitcoin, Ethereum and other credible cryptocurrencies are money and can be classified as such.

It is a subjective case to be honest, cryptocurrency is not really used by many for their daily transactions so I think classifying it as a money is not the most accurate answer. I would stick with currency and asset because IMO they seem to be a connotes far better than calling it money.

[Ucy]

Interesting.
Won't be surprised if lots of those who voted for Crypto consider crypto real money because of its deflationary nature or how it increases in price
I personally consider real crypto money because of it has alot the basic properties of real money and its Ideals are way better than the ideals of centralized currencies.

[Mauser]

Yes of course its money, just not money that is guaranteed by a central bank. But real money non the less. Anything can be money as long as there are other people willing to exchange you goods for it. So as long as you can buy things with your bitcoins it is money. Having big exchanges all around the world is key for a crypto currency to be viewed as money.

[jaresmerel001]

Cryptocurrency is money in digital form. That implies that there is no physical coin or bill, all of it is online. Without a go between, like a bank, you can transfer crypto currency to someone online. Bitcoin and ETH are well known cryptocurrencies.

Cryptocurrencies could be used by people for quick payments and to avoid transactions fees. As an investments, some could get cryptocurrencies, hoping the value goes up. With a credit card, you can purchase cryptocurrency or, in some cases, get it through a process called mining. Cryptocurrency is stored either online, on your computer, or on other hardware in a digital wallet.

[Wenbing]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

 Voting results show people like crypto better than fiat and I think it's because of the high potential growth of crypto. Use case of crypto as money is not properly visible right now.

I see crypto in two ways; they are money and asset. 1.Crypto is Money in the sense that it is used for exchange, that is one of the features of money. 2. Crypto is an asset in the sense that it is a store of value; that means people buy bitcoin in order to increase in value, the same way you buy land for the purpose of appreciation.

Interesting.
Won't be surprised if lots of those who voted for Crypto consider crypto real money because of its deflationary nature or how it increases in price

Yes, you know that many people have actually made money and cash out from the bull run of bitcoin in recent times. so, people are voting for crypto more than CBDC due to the current trend probably but not as a result of knowledge of the mechanism of crypto to be superior to other forms of currencies.

The polls result in shows that people around the world seem not to trust the government and their centralization and since they are unable to manage fiat currency properly nothing guarantees that they will manage the Central Bank Digital Currency. Besides, the institutions shuffling into Bitcoin as their reserve fund have open the mind and eyes of a lot individual that didn't trust Bitcoin before.

This is one of the reasons, nakamoto Satoshi invented the bitcoin, to take the trust we gave to the state from it. The adoption of bitcoin and crypto by institutional investors is not just an indication, it is also a believe in blockchain and other technologies supporting cryptocurrencies.

[moderator's note: consecutive posts merged]

[iv4n]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Voting results show people like crypto better than fiat and I think it's because of the high potential growth of crypto. Use case of crypto as money is not properly visible right now.

I believe that many people don't know what the word "money" actually means, and even fewer people know where "the money" comes from! So I would take this voting results with reserves!
Crypto is money! Definition is clear "a current medium of exchange in the form of coins and banknotes"! And yes we use crypto just for that, just our coins and banknotes are virtual, and yes some of us believe in that "virtual" more than we believe in "real" money! And I think we have a good reason for that, crypto is far better in many ways!
The ones who voted "no" will have problems with accepting that future that's coming!

[fahmimajannat]

I thinks it is money in the current world.
You can buy a tesla with btc even yesterday i saw a football player was bought by a club using cryptocurrency.
So for btc or other currencies  its just a matter of time to take a strong position.
You can buy many other things also though it is not widely usable.

[milewilda]

1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Reaction with this? This do simply shows that people arent already confident nor do able to trust up centralized fiat anymore and much more preferred on the decentralized side of things.
Poll result somehow wont really be that a strong basis because majority of them are really crypto lovers and if that poll would be post up in general place (not crypto related)
for sure we might see an another set of result.
For those people who do see cryptocurrences are money, well they arent right and they arent wrong either.We do know that it all matters with the demand on seeing that a certain
coin does have able to get some market value and this wont fit out every single one of them.

[sapnu]

I thinks it is money in the current world.
You can buy a tesla with btc even yesterday i saw a football player was bought by a club using cryptocurrency.
So for btc or other currencies  its just a matter of time to take a strong position.
You can buy many other things also though it is not widely usable.

Cryptocurrency is digital money wherein you can access it through your own mobile device or on your personal computer with an internet connection. It is the future of making transaction, there are some people who think that it will be our future currency, but as of now, it is far from happening because cryptocurrency itself has disadvantages, maybe in the future if all the countries already recognized and adopting the use of cryptocurrency. There are still countries that don't accept crypto, they are thinking that it is a scam, which we all know that it is not.

[Terrell]

Cryptocurrency is digital money. That means there's no physical coin or bill — it's all online. You can transfer cryptocurrency to someone online without a go-between, like a bank.

[Indymoney]

Now peoples in this crypto world are using these as real money because many are able to spend them for their daily uses and we have too many other wasy as well even its just happening in very few countries due to policies and many other factors but good thing adoption is going on with very good rate which mean in near future we will able to handle more communities and things for our use and this crypto could be in better shape for more use in near future.

[shoreno]

strange results . why so many votes recieve in crypto when we thought that many people dont believes in it and they even call crypto a fake money and a scam  . on the poll both of them are money but banks should have gained more votes because they are already banks and banks are known to create money .

maybe the voters are anti banks and mostly crypto users but afterall we should take this easy because this was only a poll .

[AndySt]

Now peoples in this crypto world are using these as real money because many are able to spend them for their daily uses and we have too many other wasy as well even its just happening in very few countries due to policies and many other factors but good thing adoption is going on with very good rate which mean in near future we will able to handle more communities and things for our use and this crypto could be in better shape for more use in near future.

Here a lot depends on what is considered an implementation and what is considered a good speed. Because in the vast majority of cases, we are only talking about recognizing bitcoin as an asset for speculation and investment and embedding cryptocurrency operations in traditional markets, and government agencies are graciously beginning to allow taxes to be paid on these operations and storage, so that the rich in this area slowly begin to come out of the shadows

[Oasisman]

I can't find anything that says about the poll "is cryptocurrency money?" In Twitter. Instead It all says about digital currencies, and I guess digital currencies means those that are created by the central banks.
But, If that poll really exist,then I guess people would really vote for "yes" because cryptocurrency,Bitcoin to be specific has gaining more and more popularity over the Twitter platform and is talking a lot more about cryptocurrency, giveaways, and anything that could actually generate profit which equals to "money".

[MCobian]

I consider cryptocurrency to be really money because I have bought things using Bitcoin several times, although my country prohibits using crypto
for payments. But there are always ways to spend my crypto. Because now it is very easy to spend our crypto, because more and more merchants
are accepting crypto payments. With crypto being used like fiat, it's no wonder many crypto users think of crypto as really money.

[Kong Hey Pakboy]

I consider cryptocurrency to be really money because I have bought things using Bitcoin several times, although my country prohibits using crypto
for payments. But there are always ways to spend my crypto. Because now it is very easy to spend our crypto, because more and more merchants
are accepting crypto payments. With crypto being used like fiat, it's no wonder many crypto users think of crypto as really money.

I also consider cryptocurrency as money because even it doesn't have any physical form, it is still a form of digital or virtual currency that can work as a medium exchange for goods and services. You can also transfer cryptocurrency to someone online like banks. I also experienced buying things using my bitcoin several times on online shopping sites and steam games, that is why it convenient for every crypto user like me to use bitcoin and other cryptocurrencies to make transactions online.

[michellee]

I consider cryptocurrency to be really money because I have bought things using Bitcoin several times, although my country prohibits using crypto
for payments. But there are always ways to spend my crypto. Because now it is very easy to spend our crypto, because more and more merchants
are accepting crypto payments. With crypto being used like fiat, it's no wonder many crypto users think of crypto as really money.

We can use bitcoin to buy something, especially to buy a thing on the internet. Hopefully, in the future, we will see more merchants accept bitcoin as the payment system, and if they do not want to use bitcoin, they can use the altcoin which is not too high to pay the fee. I consider bitcoin is the real money on the internet because, in some countries, bitcoin can not be used as the payment option, and we need to convert our bitcoin to fiat so that we can pay that thing.

[FlightyPouch]

I consider cryptocurrency to be really money because I have bought things using Bitcoin several times, although my country prohibits using crypto
for payments. But there are always ways to spend my crypto. Because now it is very easy to spend our crypto, because more and more merchants
are accepting crypto payments. With crypto being used like fiat, it's no wonder many crypto users think of crypto as really money.

Even though people are not seeing it as money, I do agree that it is money because these days, there are a lot of people, merchants, stores, and platforms that accept it. If this continues, there will be a lot of people that would be using it and would expand its acceptability which we all year in the past, its adoptation which is happening slowly right now.

[Wenbing]

Now peoples in this crypto world are using these as real money because many are able to spend them for their daily uses and we have too many other wasy as well even its just happening in very few countries due to policies and many other factors but good thing adoption is going on with very good rate which mean in near future we will able to handle more communities and things for our use and this crypto could be in better shape for more use in near future.

~~~
 so that the rich in this area slowly begin to come out of the shadows

There are actually people that are rich Wirth bitcoin, and probably other altcoins due to their earlier investment into them but they are scared to declare such assets.

But, the narrative is gradually changing as Forbes recently published billionaires in crypto, that's already a sign of good things.

[finaleshot2016]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Of course cryptocurrency is real money. Money is used for transactions and anything that can be used to exchange a thing can be called money. I'm wondering why does digital currency is not real money in the poll but if you're looking for the kind of cryptocurrency, it's also a digital currency. Digital currency can be money, as long as you can use it to transact and buy things, it's one of them. While cryptocurrency, it's obviously money, we already bought a lot of things using this currency and already been used by a lot of people.

[posi]

The polls result in shows that people around the world seem not to trust the government and their centralization and since they are unable to manage fiat currency properly nothing guarantees that they will manage the Central Bank Digital Currency. Besides, the institutions shuffling into Bitcoin as their reserve fund have open the mind and eyes of a lot individual that didn't trust Bitcoin before.

This is one of the reasons, nakamoto Satoshi invented the bitcoin, to take the trust we gave to the state from it. The adoption of bitcoin and crypto by institutional investors is not just an indication, it is also a belief in blockchain and other technologies supporting cryptocurrencies.

The institutional crypto investors were indeed not the only thing that indication people believe in crypto than the Central Bank Digital currency the government has in the plan but Satoshi didn't invent Bitcoin to take away the trust people had in the state can he only create Bitcoin as an alternative and solution to any inflation which Bitcoin prove it during the total lockdown.

[suzanne5223]

1.   Are central banks digital currency really money? 2.   Are crypto currencies really money? The poll result

Both the Central bank digital currency and cryptocurrency are money since they can both be use for payment though the government dont support crypto to be legal tender.

1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)

AFAIK, no country has 'offially' started using CBDC as of yet (correct me if I'm wrong),

Two countries have officially uses the CBDC. According to history Ecuador was the first county to created a version of CBDC in the year 2014-2018 though currency doesnot work with blockchain and the currency transaction are performed through Eduador citizen but the CBDC was later shutdown because low adoption. But China is the only country with official CBDC thats still working till now.

[verita1]

Although in both pools they mention digital currencies. At least we know that the IMF in one of them refers to cryptocurrencies.
As OP says it was such an impressive result. People are sure that they prefer cryptocurrencies over CBDCs.

It remains to be seen what the response of the people will be when CBDCs go into circulation if they will have the expected result or the population will continue to prefer cryptocurrencies.

Of course I support 100% cryptocurrencies or digital currencies as really money.

Are digital currencies really money? #poll

https://twitter.com/IMFNews/status/1349763276465385478?s=19

Are central bank digital currencies really money? #poll

https://twitter.com/IMFNews/status/1350851537749348353?s=19

[pinggoki]

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
[/b]What is your opinion about these polls?

Of course it's a big YES! Bitcoin, ethereum and any cryptocurrency is a real money and what we are called them is digital currency. Meaning these digital currencies are real money that is converted into a digital form like coins, tokens and etc. in order for you to make them into a fiat money you need first to convert it into your local fiat money so that you may used it from your day to day basis.

[AndySt]

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
[/b]What is your opinion about these polls?

Of course it's a big YES! Bitcoin, ethereum and any cryptocurrency is a real money and what we are called them is digital currency. Meaning these digital currencies are real money that is converted into a digital form like coins, tokens and etc. in order for you to make them into a fiat money you need first to convert it into your local fiat money so that you may used it from your day to day basis.

I do not agree, what can be exchanged for real money is not necessarily money. Bitcoin and other cryptocurrencies in their current state are digital assets, tokens that do not have official circulation in the absolute majority of states and that for real use in any case need to be changed to real fiat money, even in paper, even in electronic form, even on the seller's side, even on the buyer's side. And there are no prerequisites for changing the situation yet, despite all sorts of polls there.

[Janation]

2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
[/b]What is your opinion about these polls?

Of course it's a big YES! Bitcoin, ethereum and any cryptocurrency is a real money and what we are called them is digital currency. Meaning these digital currencies are real money that is converted into a digital form like coins, tokens and etc. in order for you to make them into a fiat money you need first to convert it into your local fiat money so that you may used it from your day to day basis.

I think people are having some wrong beliefs here.

It is true that we could use Bitcoin and other cryptocurrencies here as a payment or in our transactions that is just because it has value. I won't call it money but a currency, just a cryptocurrency. We don't need to call it money, it is a cryptocurrency, it has value and can be used to pay for things. Money is the valuable paper the banks are distributing and what we are used to using, Bitcoin is way better than those.

[poodle63]

It's money, I mean to become a money something must have these three function:  medium of exchange, unit of account and a store of value and cryptocurrencies well beyond those three things in addition to the ease use of crypto and how easy it's to send money using it.
But to be fair, there's a hate for fiat from a lot of people because money keep getting lower in value as the time goes and thus probably the reason why many people voting banks' digital currency not a real money because it's basically traditional paper money digitalized.

[YOSHIE]

The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)


What is your opinion about these polls?

No opinion, the percentage answered by many people is correct.

Actually all that is answered here.

1. Central bank digital currency.

2. Cryptocurrency is digital money.

I think the question about it is relatively common knowledge of the wider community in this world.

[GeorgeJohn]

Cryptocurrency is digital money. That means there's no physical coin or bill — it's all online. You can transfer cryptocurrency to someone online without a go-between, like a bank.

The question has be answered because technically, but in addition bitcoin or cryptocurrency at large is money in all ramifications of life, it's higher currency that every other fucking country across the world is using today, what fiat currency does bitcoin performed it more preferable than fiat currency, so no area we can be use to justify cryptocurrency as not money, its very clear that bitcoin are use to purchase anything generally accepted with money so their is no difference between btc and paper money and bitcoin.

[BigBoy89]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Hmmm... my votes would be exactly the opposite.

IMO money is the papers/tokens you use in daily life and are government approved. Cryptos on the other hand are not money.

[bitgolden]

What we consider as "money" is a bit different and not truly represented by just some twitter poll. Normally we do not consider gold money anymore, back in the day that was money because people exchanged gold coins in exchange of products, king Croesus made sure of that and after that it was a real thing for thousands of years. Now we have paper money but mostly we use are debit or credit cards to pay for something as well, rarely spend cash.

This is why I believe it is quite important that we consider what is the purpose of money? Ever since it was invented, the purpose of "money" is to give it in exchange of a product or a service, do you pay with crypto to buy some things? Sure you can, do you pay crypto for some services? Sure you can. Which shows you that indeed crypto is a currency and it is money, it is not the best optimized one with how long it takes and how expensive it is, but it is still considered one.

[Argoo]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

It is unlikely that these survey results reflect the real opinion of people. Now, few people know about the digitized currencies of the central banks of states. Those who know what it is could not so massively declare that it is not money. We all know that the digitized currencies of the central banks of states, that is, their stablecoins, are the same money of states, only on the blockchain in digital form. It is useless to deny it. People have not yet used them and do not know what it is. How can they reason about it. We need to make sure ourselves of the question posed and the answers to it.

[Abiky]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Well, polls are polls. Results can vary depending on how many people participated in it. Polls are sometimes manipulated by their own creators. Based on current results, it seems that most people believe crypto to be real money compared to CBDCs (Central Bank Digital Currencies). Yet, not everyone thinks this way. The vast majority of the world's population is still not aware about crypto/Blockchain tech. For some, crypto is nothing but money made out of thin air which will eventually fade into oblivion. For others, crypto is serious money that can rival Fiat in the future. It all depends on a specific person's perception about crypto.

I'd say that cryptocurrencies are money since they have all of the properties of traditional Fiat currencies with the only difference that no one controls their supply. Crypto is decentralized, allowing you to gain complete control over your financial life. On top of that, its value is determined by people like you and me (instead of a central bank). You can pay with crypto for goods and services just like you would with Fiat. While it does has its limitations, it's certainly better than Fiat itself. Governments and central banks know the true benefits of crypto/Blockchain tech, leading them to create digital currencies of their own. With Bitcoin being sound money for the world, the crypto industry will only grow higher in the future. As real-world resources (like time and energy) are used to "mint" (mine) new coins, crypto is as real as Fiat is. Only those who are against it, will think otherwise. Just my thoughts

[trickys]

If crypto is real money then why was it banned by the FCA?

[jostorres]

Interesting.
Won't be surprised if lots of those who voted for Crypto consider crypto real money because of its deflationary nature or how it increases in price
I personally consider real crypto money because of it has alot the basic properties of real money and its Ideals are way better than the ideals of centralized currencies.

Ideals do not make a currency a currency, how you spend it makes them a currency because currency means the medium that you use for buying and selling everything in life. Barter system is looooong gone, it was gone very early in history, we do not give 20 chickens for 1 cow anymore, we pay for the cow directly with fiat.

It means ideals of crypto could be the best there ever was in history of all money, however it doesn't make it money, it just makes it digital numbers. What makes crypto money is the fact that you can book a hotel with it, you can buy some apples with it, you can purchase a game with it, you can hire a developer and a designer with it. These are the things that makes a currency into money because without being able to spend it anywhere, you could have world of warcraft gold and it would be as valuable as crypto, but when you start to spend it and use it, that becomes money.

[Silberman]

Being unaware of any CBDCs, I cannot comment on it.
But cryptocurrencies are definitely not money, but assets which can be bought with and sold for money. They are confusing people by asking such questions when none of the Governments have declared crypto as money till date.

I will respectfully disagree, the whole point of bitcoin is to allow you to freedom to do whatever you want with your money regardless of what a centralized institution say, if governments do not recognize bitcoin as money then I don't care, what it should matter is whether or not bitcoin has all the characteristics of money, and bitcoin has all of those characteristics, it is a unit of account, fungible, a store value, it has a limited supply, medium of exchange, portable and many other characteristics that make bitcoin money, and if you really think about it you will begin to see that it is in fact fiat currencies the ones that do not have all the characteristics of money.

[CarnagexD]

Well, they are not money per se. But are a bunch of code lines meant to represent what a currency would appear like and woukd be used like inside a virtual space like the internet. Thus is done through the blockchain where all information regarding the cryptocurrency in question is placed, whether discovered or not.

[AniviaBtc]

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

I agree with this, most surveys are unreliable.

As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset.

It depends on the sources if it is accurate and precise, it is hard to believe on some information who doesn't have the complete detail.

Some people might say that cryptocurrencies are real and some will say that it is not because they can't see it in their own hands.

Cryptocurrencies can be converted into a traditional currency that we know so it really has a value in the economy and in the market.

[uneng]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Without any further information about these polls I conclude that people voted in protest against centralization when they said central banks digital currencies aren't really money, while they fully supported decentralized crypto currencies as real money as we can see on the second poll. I see no other logical reason to explain the results presented above.

[goldade]

Of course, every crypto user knows cryptocurrencies are real money. Using bitcoin as an example, it serves all of the purpose of any state currency. It can be used for settlement of debts, can be used to pay for goods and services and can be used as investment option.
Just because cryptocurrencies have not been accepted worldwide doesn't make it any less of a currency.
I truly believe that in just a little time, cryptocurrencies will adopted and used as the currency that it is throughout the globe. Several businesses will adopt cru as a means payment giving people several options to spend their coins.

[AndySt]

Cryptocurrency is a digital currency that is very original in the circulation of the internet, but digital currency can never have a physical form that can be held, because the digital name shows that this currency only exists on the internet and its circulation can only be done digitally, What is even more terrible is that this digital currency can have very expensive exchange rates depending on the available supply.

Any cryptocurrency is digital, but not every digital currency is a cryptocurrency In general, digital currencies can have a physical form, it all depends on the terminology used, and fiat currencies are a prime example of this. Also, for the circulation of digital currencies, it is not necessary to have the Internet, because any network of interconnected devices is enough for this. Another question is that it is much more convenient to do this with the Internet because of the availability of a ready-made working infrastructure.

[RondoAnyar]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

cryptocurrency is really money if in my opinion it can be really money if it can be accepted by the wider community to be used as a direct transaction. because seeing now for direct transactions crypto is still not accepted in all countries, only a few countries have agreed to the rule

[SirLancelot]

the whole point of bitcoin is to allow you to freedom to do whatever you want with your money regardless of what a centralized institution say, if governments do not recognize bitcoin as money then I don't care, what it should matter is whether or not bitcoin has all the characteristics of money, and bitcoin has all of those characteristics, it is a unit of account, fungible, a store value, it has a limited supply, medium of exchange, portable and many other characteristics that make bitcoin money, and if you really think about it you will begin to see that it is in fact fiat currencies the ones that do not have all the characteristics of money.

Governments will not accept bitcoin as "money" for a very long time, they can't do that because it would hurt their chances to actually make people use their own money if they accept bitcoin or crypto in general as money. However just because governments do not accept it as money doesn't make it money suddenly, there are things that you should be capable of doing with it in order to consider it money.

For example can you use it to buy something? That is the most important part, if you can buy a product or a service and pay that with bitcoin that means it is money. And we all know we can do that for bitcoin and as long as we can use it that way we can consider it money, it got a bit worse and it is slower and a lot more expensive so it is not as good as we hoped it would be but you can still use it if you want to, which is why I consider it "worse form of banknotes, better form of bank accounts" in my own opinion.

[slapper]

The more people consider bitcoin is money, the more "money" bitcoin becomes. We are the ones creating a definition for bitcoin or any asset. It is a long process but once it finishes, bitcoin will turn into a real form of money that only a few people can deny

Though,- central banks and governments still have a lot of power in this world and therefore, it is hard for bitcoin or any cryptocurrency to go into the mainstream in the next few more years. The poll is a piece of true evidence that people tend to believe in decentralization more than any centralized power

[CODE200]

   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

I guess those people who voted for 'no' in the poll are those people who are using cryptocurrencies as an investment, benefiting on the profit out of this volatile market. But in the first place, cryptocurrencies are money, from the word itself. A currency is something being used as mode of payment in every transaction. There are other things in the market having value but it is not being use as payment in daily transaction right? It is just that in the case of cryptos, it is not yet being widely used in majority of the countries. Also, its volatile market value somewhat contradicts the concept of currency which is having stable market value in order to create equity in the world market. But that's because of its nature as a currency. Every currency is distinct to one another in the aspect of physical form and its value in the world market, but still it is a currency in my opinion.

[Flowzer]

What we consider as "money" is a bit different and not truly represented by just some twitter poll. Normally we do not consider gold money anymore, back in the day that was money because people exchanged gold coins in exchange of products, king Croesus made sure of that and after that it was a real thing for thousands of years. Now we have paper money but mostly we use are debit or credit cards to pay for something as well, rarely spend cash.

This is why I believe it is quite important that we consider what is the purpose of money? Ever since it was invented, the purpose of "money" is to give it in exchange of a product or a service, do you pay with crypto to buy some things? Sure you can, do you pay crypto for some services? Sure you can. Which shows you that indeed crypto is a currency and it is money, it is not the best optimized one with how long it takes and how expensive it is, but it is still considered one.

From the Cambridge Dictionary, money is coins or notes (= special pieces of paper) that are used to buy things, or an amount of these that a person has. So, as long as its can be used for buy things, it can be considered as money. I agree with u, some crypto is not optimized as payment processor because of that problem, but theres another crypto like XLM, TRX, EOS which i think suitable as payment processor.

[Abiky]

I will respectfully disagree, the whole point of bitcoin is to allow you to freedom to do whatever you want with your money regardless of what a centralized institution say, if governments do not recognize bitcoin as money then I don't care, what it should matter is whether or not bitcoin has all the characteristics of money, and bitcoin has all of those characteristics, it is a unit of account, fungible, a store value, it has a limited supply, medium of exchange, portable and many other characteristics that make bitcoin money, and if you really think about it you will begin to see that it is in fact fiat currencies the ones that do not have all the characteristics of money.

Governments don't want to recognize Bitcoin as "money" for their own convenience. They know that if they recognize Bitcoin as such, most people will abandon Fiat in exchange for decentralized, digital money. Governments will constantly oppose crypto/Blockchain tech because it's decentralized (meaning they can't control it). We should expect them to take an "aggressive" stance towards this emerging industry as time goes by.

While Bitcoin has all of the properties of "money", classifying it as such will greatly depend on a person's perception about it. Some people believe it to be serious money for everyday payments, while others believe it to be virtual money made out of thin air with no purpose in the mainstream world. It doesn't matter what the public thinks Bitcoin is. What matters is that Bitcoin works as intended by being an alternative to the current monetary system empowered by central banks and governments worldwide. Decentralization is what has made all of this possible. In its current state, Bitcoin is terrible as "digital money". It works better as a store of value just like it's the case with Gold today. Volatile prices, and limited adoption in the mainstream world greatly limits Bitcoin's ability to be used as serious money for everyday payments. At least, there are a wide variety of alternative cryptocurrencies to choose from that will serve each person's daily needs. Bitcoin could remain as a store of value for the foreseeable future, with its unparalleled security, reliability, and censorship-resistance. Just my opinion

[OgNasty]

Are crypto currencies really money?

According to my friends and family, no.  I have become pretty used to hearing things like, "When are you going to turn your BTC into real money?"

I'm not sure if it's ignorance or wishful thinking that Bitcoin isn't real money, but it sure spends like it's real. 

[TheGreatPython]

Cryptocurrency is digital currency. So no one see that. Cryptocurrency digital currency. It connects the all country people. It easy to use any where and any country. Cryptocurrency is future currency's. So most of the people hold the cryptocurrency for future purpose.

People do hold them for future purposes but if we look at the current market I do not see any reason why cryptocurrency should not be considered as real money because we can spend crypto just like real money and we can shop whatever we want maybe not directly but indirectly for sure from any online shopping site. I will give you some examples, You can recharge mobile, buy giftcards and purchase any kind of coupons from bitrefill.

Then there are countless exchangers who can give you fiat currency for Bitcoins and in fact buyers are more than sellers in the P2P market right now which shows the demand and need for crypto. So I always considered cryptocurrencies as real money and I still do.

[Spaffin]

Are crypto currencies really money?

According to my friends and family, no.  I have become pretty used to hearing things like, "When are you going to turn your BTC into real money?"

I'm not sure if it's ignorance or wishful thinking that Bitcoin isn't real money, but it sure spends like it's real. 

If it is possible to pay for goods using cryptocurrency, then cryptocurrency is definitely money. besides, we are cashing out cryptocurrency and actually get cash for everyday life. Of course, in this case, we can say that cryptocurrency is a commodity, but we can also say that it is a value, and money has always been valuable. Very often, the family does not understand and does not approve of bitcoin, but is happy to spend the money received with the help of cryptocurrency.

[kramat]

Crypto currency is digital currency. So it easy to exchange any country currency. But first you get that country account then you will exchange the cryptocurrency. Coming future cryptocurrency will be rech all place and all country. If need money you will be exchange the cryptocurrency. Crypto currency price is not stable. So most of the people not hold the.coin .

[BITCOIN4X]

If it is possible to pay for goods using cryptocurrency, then cryptocurrency is definitely money.

Yes, everyone can use cryptocurrency to buy an item if there are no restriction from the rules of a country. Cryptocurrency must comply with the jurisdiction of a country and you must comply with it too.

The adoption of cryptocurrency as a currency has increased so far and we will benefit a lot from it. However, we also still have restriction on the use of this currency due to the rules that apply in the countries where we live. Not all countries legalize cryptocurrency as a legal currency, but there are no restriction on how to profit from trading and investing.

Cryptocurrency has provided users with freedom, decentralization, and all kind of convenience. So even though we are prohibited from using this currency in the real world due to regulation, we can still use it to pay for something online even if it is done between countries.

[Freeesta]

In developed countries, cryptocurrency has long been actively used in online stores and services. Therefore, for people, cryptocurrency is already a means of payment. Personally, I believe that cryptocurrency can replace fiat money, all this will happen as soon as the whole world switches to cryptocurrency.

[tyz]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Money is what you see yourself as money. Money is a general medium of exchange that was once introduced as an intermediary in order to be able to trade all goods with one another. Before, if I had cases for sale and I needed wood, then I had to look for someone who sold wood and needed or accepted cases. So you always had to have a one-on-one match, which generally inhibited the movement of goods. Money has removed this barrier. So money is everything that is generally accepted as a trade substitute. This can be paper money, gold, shells, stones or cryptocurrencies.

[n0ne]

Central banks digital currencies are money. No doubt on it, because a digital currency is just the digital representation of the traditional fiat. Cryptocurrency is something different and is all about the blockchain technology. This technology evolution and adoption into banking sector have changed a lot, but the real blockchain technology survives.

[AndySt]

Central banks digital currencies are money. No doubt on it, because a digital currency is just the digital representation of the traditional fiat. Cryptocurrency is something different and is all about the blockchain technology. This technology evolution and adoption into banking sector have changed a lot, but the real blockchain technology survives.

We can only talk about some potential signs of real money in cryptocurrencies, because so far no state has a circulation of cryptocurrencies as the main monetary unit, and without this, it is a waste of time to talk about the fact that cryptocurrencies are real money. But as for this, strong progress is problematic, because the entire system of government and management is built for fiat money.

[youdacapt]

Money is defined as anything offered for work done or service rendered or a form of payment. So as regards crypto currency; as long as you have offered or sent crypto currency to a third party; then it can be compared as money. Crypto currency most likely bitcoin, litecoin, etherum etc are used as a medium of payment on various platforms, so yes cryoto currency is a form of money

[witcher_sense]

In my view, cryptocurrency is of course money but it has to maintain carefully and a lot of experience needs to trade here successfully. If one has enough time to spend here to understand the market well then he/she has more possibilities to go far in crypto. So if there is patience, experiment, time, the strategy then chances of loss are really low.

Well, you don't necessarily have to spend a lot of time trying to grasp how the cryptocurrency market and traditional market work in order to use cryptocurrency as money. What you need to do is, by employing any possible means, acquire some amount in any desirable cryptocurrency and buy something useful from the merchants accepting it, the number of which is gradually growing. The means of acquiring cryptocurrency are no different from these of acquiring traditional money. You can earn some crypto by offering your skills, services, selling the goods you previously bought, the things you created by utilizing your skills, and spending your time. Many people consider cryptocurrency money, and that is the main reason why they keep spending their time in exchange for something valuable. Given that bitcoin and other cryptocurrencies have all the characteristics inherent to money, and many people are readily accepting them in exchange for services or goods, that fact clearly tells us that cryptocurrencies are definitely money.

[orions.belt19]

Crypto has been utilized as a medium of exchange for goods and services for quite some time now, so yes, it may be considered as "money" although many ought Bitcoin as more of a security now. Meaning people look at it as an investment, rather than something to use to buy goods/services. Most investors buy bitcoin to keep it for long term with the hopes that its future price will yield to high returns. Considering the transaction time and fees, utilizing crypto may be troublesome for now but surely other developers can overcome this. Paypal has already allowed Bitcoin and crypto spending so maybe this could be why people were more inclined to vote yes.

[mezzaluna]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Yes, Cryptocurrencies can be labeled as money because they can be transferred into banks with a conversion process. This conversion is somehow legal because they are connected to legitimate applications and goes through a process of being properly converted into something usable within the physical world. Bitcoin along with other Cryptocurrencies have different uses because some of them have some platform in which we can use their currencies and the only difference is the platform we are using so yeah, it is still money.

[Yatsan]

Cryptocurrencies can be considered as a real money for the fact that you can be able to convert what ever you have in crypto and make it into fiat depending on the currency you do have in your country be transferred into any bank account where you wish to gain your crypto converted into fiat coming from exchange. Now with regards to the poll, well it cannot be that reliable for me having poll made up into a social media platform like Twitter but it somehow represent a small portion of population depending on the number of participants that have been engaged in the poll and share their thoughts regarding the topic where the poll is intended with.

[0t3p0t]

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

I agree with this, most surveys are unreliable.

As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset.

I AGREE. As long as you can use it to pay or buy goods and services you can call it money. Either you call it god's money like the precious stones and metals, the revolutionary one which is the cryptocurrency and the centralized fiat or CBDC.

[laredo7mm]

Do you mind sharing the link?
Did they also input the number of voters?
Because we can't just rely on that.
Most of the crypto users are using social media so this really doesn't answer for the whole population.
It might have a positive impact but not everyone is following the same trend.

I agree with this, most surveys are unreliable.

As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset.

I AGREE. As long as you can use it to pay or buy goods and services you can call it money. Either you call it god's money like the precious stones and metals, the revolutionary one which is the cryptocurrency and the centralized fiat or CBDC.

Actually, you need to understand what money actually is. Money is something that is exchangeable, countable and that can store value. Bitcoin meets all of these requirements so it is money. Right now we can not pay for goods with bitcoin because our society is not fully aware of its and many people didn't even hear what crypto is. First, we need to do social awareness about crypto.

[cocoladygaga]

I am quite happy that more and more people believe that the tryptocurrencies were saw as money, and it is beneficial to bitcoin and others to develop

[KEN F]

The essence of cryptocurrency is a string of codes, but when the cryptocurrency is sold, it can be converted into currency that can be used to purchase goods. As long as the cryptocurrency maintains a certain degree of liquidity, the cryptocurrency can always be converted into currency, which means that the cryptocurrency has purchasing power under the premise of maintaining circulation.

[ultrloa]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

I'm not surprised about the poll since crypto currency is a threat on banking system that's why I'm expecting that result if that came from them or the other people who doesn't know about it. But if you just really go here and search how useful it is you can really define that this is a money. You can cash it out everywhere as well you can use it on transactions if you want to buy online in selected merchants.

[assa1979]

As for my answers to those polls - Yes and Yes.
Anything that is considered as something valuable among a lot of people and has no other meaning other than trading can be considered as money in my personal opinion.
As for polls itself - I guess that participants were from crypto sphere, because I won't believe that random people think so.

[imstillthebest]

As for my answers to those polls - Yes and Yes.

why double yes ? central banks digital currency has accumulated 33% and that was under 50% but the second on the poll crypto accumulated 79% and that was over 50% .
 crypto is the real money not central banks digital currency . when we use central banks digital currency , we are seeing fake numbers but when we use crypto we see real numbers and we can verify that the balances that we saw on our screen are true  .
central banks digital currency dont have blockchain that can function the same  . thats how bad they are

[magneto]

I remember Mike Maloney's definition of money that distinguishes itself from currency - and this definitely applies here.

Currency is any unit of account that is fungible/interchangeable, but also a medium of exchange.

Money has all the properties of a currency, except it is a long term store of value.

So in that sense, the poll is absolutely correct - since crypto is decentralised and not prone to uncontrolled QE that leads to currency debasement in the long run, it can be considered money. But I'd say that this only applies to BTC at the moment, as most other coins are still speculative and/or utility tokens.

[Twentyonepaylots]

In a meta sense of the description of the word money, which means something interchangeable and a basic store of value, bitcoin fits well and snuggly, it had these properties so one can most definitely say that some cryptocurrencies are considered as money by many people. Now, if they are doubting bitcoin's credibility, have them remember that having a physical representation of value doesn't necessarily mean good currency, take Zimbabwean Dollars and Venezuelan Bolivar for example.

[AndySt]

central banks digital currency dont have blockchain that can function the same  . thats how bad they are

This is no longer an unsolvable problem, and the central banks of the countries are already beginning to deploy rapid activity in this direction or are closely watching China's actions in this area. Blockchain can not be a universal and convenient tool in all areas of activity, because centralized data systems have their advantages, but in the field of digital currencies, blockchain can be an excellent position for implementation by the state and banking structures.

[Bitgavan3]

Cryptocurrency is not actually currency, but it can be converted into currency. Cryptocurrency is composed of a string of codes. To a certain extent, cryptocurrency can be regarded as a commodity with a certain supply, and its price fluctuation is affected by people's buying and selling.

[NathanielParker]

of course, you can take cash from it. Only one novel point: gas fee. When doing transaction, when need gas fee. and even if you paid it, transaction cannot be completed immediately.

[charlesmichel1]

What can be called money? It's a medium of exchange an a measure of goods and services value. In these terms, cryptos, CBDCs and fiat are forms of real money.

[poodle63]

Without any further information about these polls I conclude that people voted in protest against centralization when they said central banks digital currencies aren't really money, while they fully supported decentralized crypto currencies as real money as we can see on the second poll. I see no other logical reason to explain the results presented above.

People hating on paper money since stone age. I expect no less if this kind of poll is held the result will be the same. But, I think the reason why the poll result turns out to be like this not because they really oppose the centralization but simply because the technology like cryptocurrency has rendered paper money to be kind of obsolete and tbh paper money was initially used to represent gold in the past but now it's kinda different.

[Abiky]

People do hold them for future purposes but if we look at the current market I do not see any reason why cryptocurrency should not be considered as real money because we can spend crypto just like real money and we can shop whatever we want maybe not directly but indirectly for sure from any online shopping site. I will give you some examples, You can recharge mobile, buy giftcards and purchase any kind of coupons from bitrefill.

Then there are countless exchangers who can give you fiat currency for Bitcoins and in fact buyers are more than sellers in the P2P market right now which shows the demand and need for crypto. So I always considered cryptocurrencies as real money and I still do.

Not only cryptocurrencies have all the properties of money, some of them also have the properties of a store of value. For instance, Bitcoin can be used as money for everyday payments (sort of) and as a store of value like Gold. What crypto really needs is widespread adoption among merchants and businesses alike so that many people will be able to spend it whenever and wherever they like.

Believe me, most people who say that crypto isn't money are either miseducated or simply hate it. We may need to wait a little longer until the world becomes accustomed to crypto as an alternative to the current monetary system. Despite the ever-rising popularity of cryptocurrencies like Bitcoin and Ethereum, most people are still unaware about the decentralized economy. It shouldn't be long enough before the public recognizes crypto as real money for mainstream transactions. Governments and banks will continuously oppose crypto/Blockchain tech, but their efforts will be in vain thanks to the decentralized and open source nature of the industry. Just my thoughts

[Ludmilla_rose1995]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Two poll questions of interest. If I will contribute to the poll selection, I will answer "yes" to both questions. The central bank's digital currency is money because we can make payments, buy, send, and receive digital currency. Likewise with cryptocurrency. Cryptocurrency has the same function as a central bank digital currency. However, the two currencies have many differences.

should, the questions of the poll are:
1. Are the central bank's digital currency better than cryptocurrency?
2. Are cryptocurrencies better than central bank digital currencies?

[KEN O]

It should be said that the central bank's digital currency is digital cash, which is another form of cash. The central bank can more accurately control the issuance of digital currencies and track the flow of funds.
The encrypted digital currency issued by the private sector has large fluctuations. It is actually a string of codes. It is just that prices are generated when people buy, sell, and trade.
To a certain extent, it can be analogous to supply a certain quantity of goods.

[Wenbing]

As for my answers to those polls - Yes and Yes.

why double yes ? central banks digital currency has accumulated 33% and that was under 50% but the second on the poll crypto accumulated 79% and that was over 50% .
 crypto is the real money not central banks digital currency . when we use central banks digital currency , we are seeing fake numbers but when we use crypto we see real numbers and we can verify that the balances that we saw on our screen are true  .
central banks digital currency dont have blockchain that can function the same  . thats how bad they are

Thank you for this insightful comment. This is exactly what trigger Satoshi Nakamoto to invent btc, the trust given the the fed has been broken by way of devaluing the currency. The answer to taking back that trust is cryptocurrency or btc that eliminate the third party and it's transparent.

Cryptocurrency is not actually currency, but it can be converted into currency. Cryptocurrency is composed of a string of codes. To a certain extent, cryptocurrency can be regarded as a commodity with a certain supply, and its price fluctuation is affected by people's buying and selling.

I think you'll better put it this way...

Cryptocurrencies have two dimensions which are:..

1. A store of value like bitcoin, which make it to be gravitating towards digital gold.

2. A measure of value, which makes it to be money.

We are currently using it in this two ways, but we need more adoption

[moderator's note: consecutive posts merged]

[Prettyjing3]

This survey is very cool. I am very happy to see that more and more people feel that digital currency has authenticity, which is very beneficial to the development of digital currency.

[alexforneus]

Looks like people dont really understand what cbdc is

[AicecreaME]

In order to know if cryptocurrencies are really money, we must define some terminologies associated in the question. First, let's identify the meaning of money. Money is something that can be swapped with any goods, services, and commodities. It has a value that's acceptable as a form of payment in exchange of something that you need or want. Now, let's define cryptocurrency. Cryptocurrencies are classified as digital currency. It has a value that can be used to buy goods, services, and commodities, however, it uses cryptography to secure the transactions made and to maintain anonymity unlike in money made by banks wherein transactions are listed and KYC is a must. Another difference with the actual money produced by the central banks is that those can be held physically although it can be stored digitally, but are prone to inflation. Cryptocurrency on the other hand, maintain its volatility and isn't affected that much by inflation.

So to answer directly, cryptocurrencies are considered money specifically digital money. It is considered to be both money and an asset since it plays the role of both previously-mentioned. Cryptocurrencies can be used to directly buy some goods and services. It can also be traded and sold in exchange of money. It's a matter of how you view things and how you take it.

[angrynerd88]

It can be said that Cryptocurrencies are not cash at or not just like the notes you know and utilize ordinary. Your cash got an steady esteem and supported by gold, more often than not. Fiat can pay any esteem indeed in cents for a something in cash without exchange charge. Whereas cryptocurrencies you can't do such things. Cryptocurrencies are not cash these are resources, a bit like gold, land, You invest on it in arrange to win a few benefit and fair hold them. Be that as it may, you'll be able exchange these resources for other things. But cryptocurrencies are not the genuine cash at or not appropriate presently, may be in future.

[Casdinyard]

It can be said that Cryptocurrencies are not cash at or not just like the notes you know and utilize ordinary. Your cash got an steady esteem and supported by gold, more often than not. Fiat can pay any esteem indeed in cents for a something in cash without exchange charge. Whereas cryptocurrencies you can't do such things. Cryptocurrencies are not cash these are resources, a bit like gold, land, You invest on it in arrange to win a few benefit and fair hold them. Be that as it may, you'll be able exchange these resources for other things. But cryptocurrencies are not the genuine cash at or not appropriate presently, may be in future.

Somewhat valid. But to how I understand this technology, it is what it is being used for. I do believe that Bitcoin and other cryptos are created to be a digital currency which is an alternative to fiat currencies in order to promote convenience regarding faster transaction. Another things is having no tax in transactions as we all know. But maybe, since many governments are still not allowing wide usage or acceptance of cryptocurrencies people made use of it in other way. Since it is also beneficial as a currency it left an idea to new users on its nature of being an investment. Which gives misconceptions into it. But whether it will be used as a currency or investment, either way would be fine.

[SirLancelot]

People hating on paper money since stone age. I expect no less if this kind of poll is held the result will be the same. But, I think the reason why the poll result turns out to be like this not because they really oppose the centralization but simply because the technology like cryptocurrency has rendered paper money to be kind of obsolete and tbh paper money was initially used to represent gold in the past but now it's kinda different.

It is not about the tech in the way you mean, it is obviously about the tech in the decentralized situation but not in the "we can now just send it with a click" type of tech reasons. Bitcoin is still quite expensive to use, transaction fees are a lot and waiting period is over half an hour if you pay an average fee (fast only if you pay huge amounts), so we can say that as technology for making payments better, bitcoin has already failed, and as a "currency" it is not viable at all.

The reason why people would prefer crypto over fiat is the fact that in the fiat world rich people do whatever they want and when they bankrupt they just get bailed out while regular people who gets bankrupted can't be saved and just let starve, which is why people think it is unfair, either bail out everyone or bail out no one but that unfair situation allowed bitcoin to exist and that is why people like it.

[awik p]

I see digital currency is just another application of native currency, while crypto currency is a type of currency with a different model from cash currency which uses a decentralized system, so it has several advantages

[bits4books]

Money, as we know from history, can even be in form of shells.
The main feature of money is that everyone needs it and it is convenient for converting goods into goods. Money has always been an intermediary between goods, a single measure of weight, so to speak.
Money is not something precise and clearly expressed, it is only a very strong social contract, a contract for the use of something as a medium of exchange. With the departure from natural exchange, humanity is faced with the problem of exchange-I do not need a bag of rice today, but I need 10 pounds of meat and the butcher does not need my rice. This is where the money comes in, and this is a blessing in the sense that it makes us free to choose the product here and now.
Are cryptocurrencies money? I think not because people only believe that it is money while continuing to use cryptocurrency only to earn dollars. The fact of the matter is that cryptocurrency is already some kind of quasi-money for buying money and not for buying any goods. Once there were derivatives and it was very strange, and now we have a cryptocurrency-money to buy money.

[DrBeer]

Definitely not. And they will not become full-fledged money for many reasons. Although the technology, in part, can be used by central banks when issuing "cashless" fiat currency. Now and in the future, the cryptocurrency will be the carrier of information about the value of the virtual subject. Partially similar to assets, stocks, bonds and the like. But not full money.

[Emitdama]

Two poll questions of interest. If I will contribute to the poll selection, I will answer "yes" to both questions. The central bank's digital currency is money because we can make payments, buy, send, and receive digital currency. Likewise with cryptocurrency. Cryptocurrency has the same function as a central bank digital currency. However, the two currencies have many differences.

should, the questions of the poll are:
1. Are the central bank's digital currency better than cryptocurrency?
2. Are cryptocurrencies better than central bank digital currencies?

I would say the reason why one was yes and the other was no came down to peoples hatred towards central banks. Have you seen the situation with the gamestop happening right now? I mean from the far right extreme groups to far left extreme groups and everyone in between we are talking about a combined agreement that wall street was bad and people should be capable of trading the way those huge hedge funds can trade and everyone in the entire nation sided with the retail investors over hedge funds.

If people can hate few billion dollars worth hedge funds that much, think of how much they hate central banks, that is even worse I believe. So when central bank says they will give out free money to everyone it will be hated, that is how much people hate them, hence when similar things were asked it wasn't a "response" by the public, it was more about "fuck the central banks" type of thing there.

[samputin]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

I can say that 2 poll is been use in our society now ( some people), the percentage is just an opinion but I think crypto currency and central bank has big role in other people.

It is not direct as money but it can be use like as money. It is both cashless but it turn to money by processing. Bitcoin need to exchange to other currency like dollars or local currency then turn to fiat, and central bank is the way to use your want cashless but you need also fiat for payment before and after to use the central bank's digital currency. This is what I know.

[Serious475]

What do you tell by the definition of money?.
We have two aspects of money.
First is the physical money. Tangible.
Second is the digital money. Intangible.
Are those have the same value ? Yes, it is we are going to the future which all of the transaction is cashless slowly innovating. The reason why people would like to invest is too much volatility of cryptocurrency than fiat currency.
Also, we have a law that each country must need to have their currency even we don't want we must follow the law the good thing is we are united still in crypto / digital currency.

[romero121]

Cryptocurrencies are a form of money. The fiat when transacted in the digital form, it is termed as digital money. This way everything that has got value and can be transacted is considered as money. Upon this, cryptocurrency is kind of money that has true value and is completely demanding due to the way its been developed.

[Mauser]

I see digital currency is just another application of native currency, while crypto currency is a type of currency with a different model from cash currency which uses a decentralized system, so it has several advantages

Yes definitely, as long as there is only one person out there who is willing to trade with you for that crypto coin you own I would consider it money. And at the moment there are a lot of different stores, casinos and companies who accept crypto currencies as a viable form of payment.

[South Park]

I remember Mike Maloney's definition of money that distinguishes itself from currency - and this definitely applies here.

Currency is any unit of account that is fungible/interchangeable, but also a medium of exchange.

Money has all the properties of a currency, except it is a long term store of value.

So in that sense, the poll is absolutely correct - since crypto is decentralised and not prone to uncontrolled QE that leads to currency debasement in the long run, it can be considered money. But I'd say that this only applies to BTC at the moment, as most other coins are still speculative and/or utility tokens.

I have read that book as well and personally I agree with that definition, for a long time people used money and this created strong societies but then when they made the transition from money to currencies that is when all things went down, as if you do not have a way to measure value then it is very difficult to exchange products and services, which is the whole reason for money to exist at all, so I think that despite all efforts from the governments to perpetuate currencies we will get to the point in which hard money will be used all over the world once again and I think bitcoin has the potential to be part of it.

[globalpain]

I see digital currency is just another application of native currency, while crypto currency is a type of currency with a different model from cash currency which uses a decentralized system, so it has several advantages

Yes definitely, as long as there is only one person out there who is willing to trade with you for that crypto coin you own I would consider it money. And at the moment there are a lot of different stores, casinos and companies who accept crypto currencies as a viable form of payment.

In Asia, many have opened payments with crypto currency, and it is use as a legal currency, especially in Japan,
yes you can buy food, goods or some other things with Bitcoin, do you still question whether cryptocurrency is real money?
hey this is 2021 and you have to think ahead, oh yes one more fact is that payments on internet sites like Pornhub also have a way of paying in crypto currency.

[AndySt]

I see digital currency is just another application of native currency, while crypto currency is a type of currency with a different model from cash currency which uses a decentralized system, so it has several advantages

Yes definitely, as long as there is only one person out there who is willing to trade with you for that crypto coin you own I would consider it money. And at the moment there are a lot of different stores, casinos and companies who accept crypto currencies as a viable form of payment.

We should not forget that cryptocurrencies, unlike digital money, have not only advantages, but also certain disadvantages, such as a smaller scope of application, which do not allow cryptocurrencies to continue to expand their presence in the economy. Just the fact that cryptocurrencies are not their own national currencies and the state does not have any control over cryptocurrencies is the biggest drawback in the eyes of government officials and they are right from their point of view.

[xSkylarx]

For me as long as it has a store of value it can be considered money. Cryptocurrencies can now be used to buy something you want not only on the internet, but some small businesses also accepts that as a mode of payment now. Digital currency can also be money but unlike crypto, you can only use it in a particular country you're living. And the concept of digital currency is not that trending now because not all countries can adapt to this.

[Coinsfera]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

1. For the current situation, for central bank digital currencies will be easy to get wide adoption because central banks will legalize it. Probably the crypto enthusiast affected the pool results, if they did not then it could be the other way around.
2. Yes cryptocurrencies are the real money. You can pay with it, you can hold it as an asset, and plus it will be more valuable in the future. 

[fullhdpixel]

Somewhat valid. But to how I understand this technology, it is what it is being used for. I do believe that Bitcoin and other cryptos are created to be a digital currency which is an alternative to fiat currencies in order to promote convenience regarding faster transaction. Another things is having no tax in transactions as we all know. But maybe, since many governments are still not allowing wide usage or acceptance of cryptocurrencies people made use of it in other way. Since it is also beneficial as a currency it left an idea to new users on its nature of being an investment. Which gives misconceptions into it. But whether it will be used as a currency or investment, either way would be fine.

There is a bit of a "tax" in the transactions which is the transaction fee, obviously that is super high right now and we need it to be a lot lower in order to make it valid, I have seen as much as 10+ dollars for transactions that takes an hour and that is not really what makes it money and it could never become money if it keeps this up, we need it to actually move from one place to another a lot cheaper (under 50 cents) and a lot faster (under 1 minute) just to make it possible for everyone to go out there and spend it on places and allow places to accept it as payment.

What are we going to do, go out to some cafe and drink some tea and pay that 5-10 dollar tea and cookie with another 10 dollar fee and 1 hour waiting just to be able to pay? That is not going to be valid, so if you ask me bitcoin has the potential to be the best money out there, but it needs to get better.

[SquallLeonhart]

For me as long as it has a store of value it can be considered money. Cryptocurrencies can now be used to buy something you want not only on the internet, but some small businesses also accepts that as a mode of payment now. Digital currency can also be money but unlike crypto, you can only use it in a particular country you're living. And the concept of digital currency is not that trending now because not all countries can adapt to this.

Honestly store of value and money are different things. For example gold (and oil for some extend) has store of value, because it is believed that they would go up in the long term and they will always do that no matter how many downs it may have time to time, if you look at it long term it would be profitable. However gold is not money, sure it used to be money, people did gave each other gold coins and exchanged goods accordingly, but we are not in that period anymore, people do not give each other gold coins anymore, we have paper money now and that means gold as a store of value asset is not money.

However crypto is not just a store of value, like you said there are places that accepts it, and it is very difficult because you spend a lot of money just on fee's and you wait a long time to pay it, but the reality is that as long as you can do it, it means it is money, even if it is not ideal right now, it is just a form of money nevertheless.

[TopTort777]

Imho, if you can pay with cryptocurrency (or with any other kind of good, physical or digital) and get a service and goods in return, it can be counted as money. In the past, people exchanged sea shells or animal tooth for goods and that were money. Then why doubt that cryptocurrency is money? According to wiki, money is called everything that can be accepted as payment. If I get something and can "resell" it or "use as payment" in future, I count it as money.

[Rishabh riyz]

in my opinion since both of them can be converted into your countries currency (at least in my country) they should be considered real money .
though they both have differences like cryptocurrencies can be used as asset meanwhile central bank digital currencies cannot be used as an asset due to their fixed values.

[Abiky]

There is a bit of a "tax" in the transactions which is the transaction fee, obviously that is super high right now and we need it to be a lot lower in order to make it valid, I have seen as much as 10+ dollars for transactions that takes an hour and that is not really what makes it money and it could never become money if it keeps this up, we need it to actually move from one place to another a lot cheaper (under 50 cents) and a lot faster (under 1 minute) just to make it possible for everyone to go out there and spend it on places and allow places to accept it as payment.

What are we going to do, go out to some cafe and drink some tea and pay that 5-10 dollar tea and cookie with another 10 dollar fee and 1 hour waiting just to be able to pay? That is not going to be valid, so if you ask me bitcoin has the potential to be the best money out there, but it needs to get better.

I feel you. Paying a high fee for a cup of coffee is not economically viable. For crypto to be used as money, fees need to be as low as possible. In addition to this, prices need to be stable. Something as volatile as Bitcoin can't be used as serious money because you could lose your purchasing power in an instant. Stability is key to ensure a functional economy. Stablecoins are the only crypto assets that can be used as money. But the fact that they're pegged to traditional Fiat, greatly defeats the purpose of crypto/Blockchain tech (which is removing the middleman from the system). At least, there are solutions to remediate the high fee issue. But the real challenge would be solving price volatility on the market. That's what you get when you use Fiat as a unit of account. If crypto land would've used Bitcoin as a unit of account, prices would've been stable.

Nonetheless, crypto is here to stay. Regardless of how people consider it to be, crypto has done an excellent job in providing decentralized finance to anyone worldwide. We now have an alternative monetary system that can serve as an "escape route" from the centralized monetary system manipulated by mainstream governments and central banks. The time will come when most of crypto's issues will be fixed. It'll never be perfect, but at least, it'll work as intended. Decentralization is what truly matters to give people true financial freedom. Just my opinion

[tygeade]

The question has be answered because technically, but in addition bitcoin or cryptocurrency at large is money in all ramifications of life, it's higher currency that every other fucking country across the world is using today, what fiat currency does bitcoin performed it more preferable than fiat currency, so no area we can be use to justify cryptocurrency as not money, its very clear that bitcoin are use to purchase anything generally accepted with money so their is no difference between btc and paper money and bitcoin.

"not money" is used because we are not spending it, just because we are buying it and selling it doesn't mean that it could be considered money. Don't get me wrong I do consider crypto as money, but I am just trying to explain to you what other people are thinking.

Asset and Money are different things, one of them is like stock, gold, forex and all the other stuff which we call assets and you can have them, keep them for a very long time, and sell them to have more fiat. What you get in return of that is money, so if you spend money to buy a stock and it increases so you sell it for more money you made a profit but your aim is to have more money not more stocks.

However crypto is like both of them which confuses people, can I get a flight ticket with crypto? Yes I can. Can I buy bitcoin and hold it and later sell for more money? Sure I can. So, we are both an asset but also a money, which confuses people obviously.

[geegaw]

The question has be answered because technically, but in addition bitcoin or cryptocurrency at large is money in all ramifications of life, it's higher currency that every other fucking country across the world is using today, what fiat currency does bitcoin performed it more preferable than fiat currency, so no area we can be use to justify cryptocurrency as not money, its very clear that bitcoin are use to purchase anything generally accepted with money so their is no difference between btc and paper money and bitcoin.

"not money" is used because we are not spending it, just because we are buying it and selling it doesn't mean that it could be considered money. Don't get me wrong I do consider crypto as money, but I am just trying to explain to you what other people are thinking.

Asset and Money are different things, one of them is like stock, gold, forex and all the other stuff which we call assets and you can have them, keep them for a very long time, and sell them to have more fiat. What you get in return of that is money, so if you spend money to buy a stock and it increases so you sell it for more money you made a profit but your aim is to have more money not more stocks.

However crypto is like both of them which confuses people, can I get a flight ticket with crypto? Yes I can. Can I buy bitcoin and hold it and later sell for more money? Sure I can. So, we are both an asset but also a money, which confuses people obviously.

Well, in essence, I think some cryptocurrencies already have the equivalent of money and the problem that we can't spend it just because it doesn't fit our country, the governments that produce their currency and we live with the law, cannot break the law but if spend at a range online like we are doing in this forum or some other website, crypto is really money. However, thinking crypto as money only loses its real value when its value is destroyed by many factors, which makes crypto more valuable as an asset, an online stock

[Oshosondy]

Bitcoin was structured as alternative decentralized currency, it became real currency over time by people's acceptance. So it is all all about how and what people consider. If millions accept bitcoin (or other cryptocurrencies) while trading, then it is currency.

Money and currency are not the same, money has value while currency is just a physical representation of money. The value in money is the worth, bitcoin has the value, which means bitcoin is money. Gold, silver, fiat and anything that has value that amounts to a means of exchange and spendable are money. Bitcoin is just a typical example of money but in digital form.

[South Park]

I see digital currency is just another application of native currency, while crypto currency is a type of currency with a different model from cash currency which uses a decentralized system, so it has several advantages

Yes definitely, as long as there is only one person out there who is willing to trade with you for that crypto coin you own I would consider it money. And at the moment there are a lot of different stores, casinos and companies who accept crypto currencies as a viable form of payment.

In Asia, many have opened payments with crypto currency, and it is use as a legal currency, especially in Japan,
yes you can buy food, goods or some other things with Bitcoin, do you still question whether cryptocurrency is real money?
hey this is 2021 and you have to think ahead, oh yes one more fact is that payments on internet sites like Pornhub also have a way of paying in crypto currency.

Even if many people cannot articulate directly what it is wrong with the economy they know there is something wrong and they are preparing for it, they are looking for ways to keep most of the value of years or even decades of work and this can only be done with hard assets, examples of this are precious metals and real estate, and despite the digital nature of bitcoin people are beginning to see that bitcoin is in fact a hard asset which is one of the reasons behind the current growth that we have seen during the previous months.

[carlisle1]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Obviously the Poll take place while the Voters are from social media crypto connected ? the voters are majority comes from Crypto community ?

because if the participants comes from outside social media then for sure the result will be far different from that landslide .

But congrats to the crypto for winning this poll though i am not that happy with the result because we need real voters and not those bias in decisioning .

[Mpamaegbu]

Money is anything used in the exchange of goods and services (whether termed legal or not) and to this point Bitcoin meets that requirement and also has been fulfilling it. It doesn't matter what doubt anyone harbours on that. Bitcoin is money. For instance, look at the numerous Bitcoin campaigns held here and how participants get rewarded in Bitcoin for a job well done. People of different climes and clans receive this reward in Bitcoin without hassles into their wallets. No bank accounts asking for documentations, yet we are able to utilize the Bitcoin which is the modern payment for the upwardly mobile populace.

[oHnK]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

Obviously the Poll take place while the Voters are from social media crypto connected ? the voters are majority comes from Crypto community ?

because if the participants comes from outside social media then for sure the result will be far different from that landslide .

But congrats to the crypto for winning this poll though i am not that happy with the result because we need real voters and not those bias in decisioning .

I also see the same thing that the poll results look biased.  Because basically the Twitter account that is linked to the OP is also related to crypto.  If polls are conducted in public, I'm sure there are still many who don't know what crypto is.  What's more for people who lack literacy.  Twitter also has an algorithm that is not much different from other social media in terms of account relations.  So I don't really believe the poll results either.  But for myself, crypto is money as long as it is able to be a trusted tool in the payment of any transaction, even though crypto has a uniqueness that fiat doesn't have, namely that nothing regulates it apart from supply and demand for it.

[South Park]

Money is anything used in the exchange of goods and services (whether termed legal or not) and to this point Bitcoin meets that requirement and also has been fulfilling it. It doesn't matter what doubt anyone harbours on that. Bitcoin is money. For instance, look at the numerous Bitcoin campaigns held here and how participants get rewarded in Bitcoin for a job well done. People of different climes and clans receive this reward in Bitcoin without hassles into their wallets. No bank accounts asking for documentations, yet we are able to utilize the Bitcoin which is the modern payment for the upwardly mobile populace.

This is not exactly accurate, while you can trade goods and services for whatever you want this doesn't necessarily means that whatever you choose to use to buy that product is money, money has a very long list of characteristics and if whatever you are using does not have those characteristics then it's not money, bitcoin is money because it has every single characteristic that you may wish for money to have and not only it has all the characteristics it does everything better than its fiat counterparts.

[Saisher]

I agree with this, most surveys are unreliable.

As for the issue at hand, I think they are kind of money. You can buy some goods and services with Bitcoin and other coins but nowadays are more of an asset.

Surveys are unreliable especially done online, because some people are having second or multiple accounts on social medias so it's hard for the survey operator to find out if there are double entries, and on the survey if it is really money, yes for me it is real money, I have bought a lot of stuffs using my Cryptocurrency and and I can still trade it to fiat and buy my basic needs.

[Abiky]

This is not exactly accurate, while you can trade goods and services for whatever you want this doesn't necessarily means that whatever you choose to use to buy that product is money, money has a very long list of characteristics and if whatever you are using does not have those characteristics then it's not money, bitcoin is money because it has every single characteristic that you may wish for money to have and not only it has all the characteristics it does everything better than its fiat counterparts.

Exactly. Bitcoin has all of the characteristics of money, and more. It can serve as both a store of value (like Gold) and digital cash (like Fiat) to anyone, anywhere in the world. What makes Bitcoin different from other forms of money is its intangible nature. People are accustomed in dealing with tangible things in the mainstream world. A new kind of money that's intangible would question its level of legitimacy. I believe that as Bitcoin and other cryptocurrencies rise in popularity, the world will recognize them as money. The industry just needs more time to mature.

Nonetheless, haters will always express their distrust towards crypto/Blockchain tech. They'll always say things like Bitcoin is made out of thin air, or that Bitcoin is a scam in order to scare away people from it. Those who believe it to be serious money for daily payments, will support it no matter what. People have differing opinions regarding what cryptocurrencies are. But the facts speak for them themselves, as crypto becomes a true alternative to the existing monetary system empowered by central banks and governments worldwide. Just my opinion

[Zanab247]

Yes, you can use it to purchase any commodities of your choice in any country that is legalized. In my country many citizens use cryptocurrency to enrich their families base on the way they use it invest to a particular project that bring out income.
To the country cryptocurrency is legalized, cryptocurrency is a money we can make use of anytime, because money is anything that is generally acceptable as a medium of exchange. Cryptocurrency can buy anything that money can buy to someone country that allow the citizens to use cryptocurrency as a payment.

[k@suy]

Cryptocurrency is real money, but in terms of digital assets, we can use it to buy goods and anything now only if your country has some merchants that are using it. I never think that bitcoin and alts are not money at all, the difference between fiat at and crypto is that we cannot hold it or see it physically and the reaction of the government about it nothing else. In Central banks digital wallet and crypto the difference are transactions can be trace and maybe it can have a deduction in every transaction more than we do in crypto, a person needs to have an account before having wallets and you cannot stay anonymous using Central banks digital currency.

[FlightyPouch]

in my opinion since both of them can be converted into your countries currency (at least in my country) they should be considered real money .
though they both have differences like cryptocurrencies can be used as asset meanwhile central bank digital currencies cannot be used as an asset due to their fixed values.

But there are people that would hold fiat rather than crypto currencies. They would usually deposit a huge amount of money in banks and let it sit in that bank for a while. As time goes, they will be getting interest which is like holding bitcoin, it is just that bitcoin is better.

That is the reason why I really consider crypto currencies as money, as they said, as long as it has a store of value, it is money.

[Nunoluck]

That's so subjective, I think it will be better if we let each community have their own opinion. However it also depend on regulations that government made. If there are some people that consider cryptocurrency and digital money as payment method then I think we can call it money. Even it happen on cash, for example we can use Yen in japan but we need to convert it to another one if we want to use it in another country regarding the regulation. But what we should compare is the performance of the money. Bitcoin has proved that this is the best virtual currency since it is uncounterfeited, fast, and has many more advantages. I think cryptocurrency is better.

[rollingdice]

Everything that can serve as a medium of exchange and a measure of value is money. In these terms both cryptos and CBDCs are forms of real money.

[Rruchi man]

Because money is "anything" that is accepted in exchange for a goods or a service, anything agreed upon in a given location as a medium of exchange is money. Take a pebble stone for instance, if we collectively agree that this pebble stone should be accepted as a medium of exchange amd there is a law validating this decree, the pebble stone can be considered money. So therefore, in places where cryptocurrency use for transactions is legal and accepted by both parties as a medium of exchange, they can be considered as money.

[Jemzx00]

Everything that can serve as a medium of exchange and a measure of value is money. In these terms both cryptos and CBDCs are forms of real money.

Based on a simple google search, I've found the meaning for Currency and Money which has a lot of difference but any currency can be money but not all money can be a currency.

Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper or coins, usually issued by a government and generally accepted at its face value as a method of payment.

So yes, Bitcoin and any other cryptocurrencies are money as they are accepted by its face value as a method of payment.

[lixer]

Yesterday, while surfing the social media that aggregate trends, Twitter, I ran into what was like a very exciting poll, the best I have seen this year.
The poll was created by International Monetary Fund (IMF) to monitor the two types of virtual currencies which are; the cryptocurrencies and the central bank digital currency.
The poll went thus;
1.   Are central banks digital currency really money? The poll result was Yes (33.8%) and no (66.2%)
2.   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)
What is your opinion about these polls?

If we are to go by the definition of what money really is, then they are all money, since of the definitions of money is assets, properties and resources, and cryptocurrency is part of assets, so that makes it money, and whatever the central banks are going to release as their digital money , if we regard them as assets, they are still money.

So, all these things are money in the sense that they are all part of our wealth. But no country has really released a digital money yet, and those who claimed that they did never had it functioning. So, we don’t have any as of yet.

[Wipeout2097]

No doubt Cryptocurrency is advanced cash wherein you'll get to it through your possess portable gadget or on your individual computer with a web association. It is long run of making exchange, there are a few people who think that it'll be our future money, but as of presently, it is distant from happening since cryptocurrency itself has impediments, possibly within the future on the off chance that all the nations as of now recognized and embracing the utilize of cryptocurrency. There are still nations that do not acknowledge crypto, they are considering that it could be a scam,But reality is that crypto is most recent innovation and one day individuals will acknowledge it as medium of exchnge.

[Twinkledoe]

If we are to go by the definition of what money really is, then they are all money, since of the definitions of money is assets, properties and resources, and cryptocurrency is part of assets, so that makes it money, and whatever the central banks are going to release as their digital money , if we regard them as assets, they are still money.

So, all these things are money in the sense that they are all part of our wealth. But no country has really released a digital money yet, and those who claimed that they did never had it functioning. So, we don’t have any as of yet.

Also, if you are in doubt if the cryptocurrency is really money, convert it to your fiat and you will see your physical cash. Sometimes, there are people who want to see the physical cash in order to believe that it is real money. So whatever form your assets are, if you are in doubt, try converting it to your fiat and you will see what you've got.

[South Park]

This is not exactly accurate, while you can trade goods and services for whatever you want this doesn't necessarily means that whatever you choose to use to buy that product is money, money has a very long list of characteristics and if whatever you are using does not have those characteristics then it's not money, bitcoin is money because it has every single characteristic that you may wish for money to have and not only it has all the characteristics it does everything better than its fiat counterparts.

Exactly. Bitcoin has all of the characteristics of money, and more. It can serve as both a store of value (like Gold) and digital cash (like Fiat) to anyone, anywhere in the world. What makes Bitcoin different from other forms of money is its intangible nature. People are accustomed in dealing with tangible things in the mainstream world. A new kind of money that's intangible would question its level of legitimacy. I believe that as Bitcoin and other cryptocurrencies rise in popularity, the world will recognize them as money. The industry just needs more time to mature.

Nonetheless, haters will always express their distrust towards crypto/Blockchain tech. They'll always say things like Bitcoin is made out of thin air, or that Bitcoin is a scam in order to scare away people from it. Those who believe it to be serious money for daily payments, will support it no matter what. People have differing opinions regarding what cryptocurrencies are. But the facts speak for them themselves, as crypto becomes a true alternative to the existing monetary system empowered by central banks and governments worldwide. Just my opinion

The problem with the haters is that they have very powerful backers, if it was just a person here and there then we could even ignore them but a great deal of those that hate on bitcoin are backed by governments and that is because governments do not like at all the idea of something like bitcoin existing, they thought that after they defeated gold that they will have no competition at all and they could do anything they wanted with the money supply and suddenly out of nowhere they find out that they have an even bigger threat to them than gold ever was and they do not like this one bit.

[mezzaluna]

If we are to go by the definition of what money really is, then they are all money, since of the definitions of money is assets, properties and resources, and cryptocurrency is part of assets, so that makes it money, and whatever the central banks are going to release as their digital money , if we regard them as assets, they are still money.

So, all these things are money in the sense that they are all part of our wealth. But no country has really released a digital money yet, and those who claimed that they did never had it functioning. So, we don’t have any as of yet.

Also, if you are in doubt if the cryptocurrency is really money, convert it to your fiat and you will see your physical cash. Sometimes, there are people who want to see the physical cash in order to believe that it is real money. So whatever form your assets are, if you are in doubt, try converting it to your fiat and you will see what you've got.

Its also really weird to see people within this industry asking about Cryptocurrencies being legitimate money. They should really try to experience it first hand because all doubts will be lost once they have earned enough cryptocurrencies that can be converted into fiat or cash. Even when I first learned about Cryptocurrencies, I had that doubt but when the opportunity presented itself when I was able to convert it into fiat, all of my doubts were lost and I really started deep diving and look for ways to earn Cryptocurrencies.

[Abiky]

Because money is "anything" that is accepted in exchange for a goods or a service, anything agreed upon in a given location as a medium of exchange is money. Take a pebble stone for instance, if we collectively agree that this pebble stone should be accepted as a medium of exchange amd there is a law validating this decree, the pebble stone can be considered money. So therefore, in places where cryptocurrency use for transactions is legal and accepted by both parties as a medium of exchange, they can be considered as money.

That's certainly true, mate. We could say that people value things based on psychology. As long as people are made to believe something is valuable, it'll be that way no matter what. Bitcoin and other cryptocurrencies are not only valuable, but also extremely useful as a medium of exchange. Anyone can use cryptocurrencies as they would with traditional Fiat currencies backed by central banks and governments worldwide. Haters will say that crypto is "made out of thin air", but they've got it all wrong as real world resources are spent in order to "mint" new coins on the Blockchain. Crypto has all of the properties of money, becoming a true alternative of the existing monetary system.

Nonetheless, some people still aren't convinced that cryptocurrencies are serious money for day-to-day payments. That's largely because they've believed everything governments and central banks said against crypto/Blockchain tech. I'd advise anyone to their own research to know what crypto is all about. Only then, you'll realize that crypto is money just like it's the case with Fiat, Gold, Silver and other assets. Just my thoughts