A Simple Reason Why Bitcoin is not Money

[FatFork]

<dung>

So, you think all things got to have some official purpose?  Nah, I don't think so! Sometimes stuff just exists cuz people like how it looks or it's fun or whatever and  the whole idea of purpose is kinda subjective anyway and means different stuff to different folks.  When you look at the big picture of life and everything, some say trying to figure out your purpose is a basic human thing to do, but that doesn't mean every single thing in the universe has got to have a cosmic purpose or whatever.  I mean, take a pretty waterfall for example.  Its just water going over some rocks - doesn't really do anything.  But people enjoy looking at it and hearing the sound of water.  It exists for its own sake.  Or dancing - it don't accomplish anything concrete necessarily but people do it cuz it's fun and it feels good.  Life is messy and complicated like that.

The same goes for Bitcoin.  Who's to say it must serve some grand purpose? Perhaps we're just here for the joy of watching those pretty numbers dance on our screens. 

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[thecodebear]

guys I"m pretty sure OP is a super troll cuz people here have endlessly refuted the nonsense he keeps repeating here and he just still keeps repeating it. May as well let this thread die since it is clearly not a serious argument.

[JamesNZ]

<dung>

So, you think all things got to have some official purpose?  Nah, I don't think so! Sometimes stuff just exists cuz people like how it looks or it's fun or whatever and  the whole idea of purpose is kinda subjective anyway and means different stuff to different folks.  When you look at the big picture of life and everything, some say trying to figure out your purpose is a basic human thing to do, but that doesn't mean every single thing in the universe has got to have a cosmic purpose or whatever.  I mean, take a pretty waterfall for example.  Its just water going over some rocks - doesn't really do anything.  But people enjoy looking at it and hearing the sound of water.  It exists for its own sake.  Or dancing - it don't accomplish anything concrete necessarily but people do it cuz it's fun and it feels good.  Life is messy and complicated like that.

The same goes for Bitcoin.  Who's to say it must serve some grand purpose? Perhaps we're just here for the joy of watching those pretty numbers dance on our screens.  

If stuff just exists cuz people like how it looks then that stuff has aesthetic purpose. It creates a specific amount of benefit and one can estimate that benefit with benefits provided by other products to exchange stuff rationally. However, virtual points that some protocol attributed to online addresses have no purpose that can be fulfilled. They are just means to inform you that you joined investment pyramid in which you invest purposeful stuff and then wait for new investors to give you more such stuff. It hilarious how you managed to create the whole religion from that pyramid.

[FatFork]

If stuff just exists cuz people like how it looks then that stuff has aesthetic purpose. It creates a specific amount of benefit and one can estimate that benefit with benefits provided by other products to exchange stuff rationally.

Yes, that's it!  Bitcoin serves an aesthetic purpose, at least for me – can't speak for everyone else. It's all about finding beauty in those numbers. Glad we got that sorted out!

It hilarious how you managed to create the whole religion from that pyramid.

Hey there! Mocking someone's religion ain't cool. It's basically a form of religious discrimination.

[Bitcoin_people]

guys I"m pretty sure OP is a super troll cuz people here have endlessly refuted the nonsense he keeps repeating here and he just still keeps repeating it. May as well let this thread die since it is clearly not a serious argument.

You're right though, the OP here is bashing Bitcoin the most we can't ever accept. This may have created a topic like this to ruin the beauty of Bitcoin, so I think the OP's slanderous thread should be locked. He made a post with all purposeless and absurd which I find disturbing. The OP is now trying to troll by saying all the nonsense so the thread should be locked.

[JamesNZ]

If stuff just exists cuz people like how it looks then that stuff has aesthetic purpose. It creates a specific amount of benefit and one can estimate that benefit with benefits provided by other products to exchange stuff rationally.

Yes, that's it!  Bitcoin serves an aesthetic purpose, at least for me – can't speak for everyone else. It's all about finding beauty in those numbers. Glad we got that sorted out!

It hilarious how you managed to create the whole religion from that pyramid.

Hey there! Mocking someone's religion ain't cool. It's basically a form of religious discrimination.

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

[FatFork]

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

You walked  right into that, didn't you? Hahahaha!

Visual aesthetic is quite common, but yes, invisible things can serve an aesthetic purpose as well.  Music is a perfect example - you listen to it, not look at it. But even abstract concepts and ideas, like math for example, can be aesthetically pleasing if it's elegant and well-structured.

As for calling you stupid, I wouldn't go that way.  You just seem like you don't know a lot about this topic. I'm always trying to educate myself more on things I don't understand well. You should try it.

[JamesNZ]

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

You walked  right into that, didn't you? Hahahaha!

Visual aesthetic is quite common, but yes, invisible things can serve an aesthetic purpose as well.  Music is a perfect example - you listen to it, not look at it. But even abstract concepts and ideas, like math for example, can be aesthetically pleasing if it's elegant and well-structured.

As for calling you stupid, I wouldn't go that way.  You just seem like you don't know a lot about this topic. I'm always trying to educate myself more on things I don't understand well. You should try it.

I see you're doubling down on stupidity. Aesthetics is related to senses. You must see, hear, smell, or touch something to be able to talk about aesthetics. Invisible virtual points that some protocol attributed to online addresses have nothing to do with aesthetics. They are just records of participation in an investment pyramid where you pay in purposeful items and then wait for new contributors to get such items back. It's not stupid to join that - it's just greed or ignorance. But claiming that records of participation in it serve aesthetic purpose is the stupidity at its best.

[FatFork]

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

You walked  right into that, didn't you? Hahahaha!

Visual aesthetic is quite common, but yes, invisible things can serve an aesthetic purpose as well.  Music is a perfect example - you listen to it, not look at it. But even abstract concepts and ideas, like math for example, can be aesthetically pleasing if it's elegant and well-structured.

As for calling you stupid, I wouldn't go that way.  You just seem like you don't know a lot about this topic. I'm always trying to educate myself more on things I don't understand well. You should try it.

I see you're doubling down on stupidity. Aesthetics is related to senses. You must see, hear, smell, or touch something to be able to talk about aesthetics.

Oh, so now you're finally catching on that invisible things can serve an aesthetic purpose? Well, I appreciate your newfound common sense. Maybe next time, you'll actually think before you speak. 

Invisible virtual points that some protocol attributed to online addresses have nothing to do with aesthetics. They are just records of participation in an investment pyramid where you pay in purposeful items and then wait for new contributors to get such items back. It's not stupid to join that - it's just greed or ignorance. But claiming that records of participation in it serve aesthetic purpose is the stupidity at its best.

Well, I know a bunch of people who would disagree with that. Aesthetics is not only about what you can feel with your senses.  For many people, aesthetics can be about the elegance of the design, the technology or even digital assets.  For example, mathematicians and physicists often think some theorems and definitions are beautiful or elegant, attaching importance to the aesthetics of their work (ref: Mathematical beauty).

"A mathematician, like a painter or a poet, is a maker of patterns." - G.H. Hardy

And, in the world of technology, Steve Jobs famously stated, "Design is not just what it looks like and feels like. Design is how it works."

So just because something doesn't fit your personal view of aesthetics doesn't mean it's not artistic or good design for other people.  Aesthetics are subjective, you know?  What one person finds beautiful or elegant, someone else might think is whack.

[JamesNZ]

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

You walked  right into that, didn't you? Hahahaha!

Visual aesthetic is quite common, but yes, invisible things can serve an aesthetic purpose as well.  Music is a perfect example - you listen to it, not look at it. But even abstract concepts and ideas, like math for example, can be aesthetically pleasing if it's elegant and well-structured.

As for calling you stupid, I wouldn't go that way.  You just seem like you don't know a lot about this topic. I'm always trying to educate myself more on things I don't understand well. You should try it.

I see you're doubling down on stupidity. Aesthetics is related to senses. You must see, hear, smell, or touch something to be able to talk about aesthetics.

Oh, so now you're finally catching on that invisible things can serve an aesthetic purpose? Well, I appreciate your newfound common sense. Maybe next time, you'll actually think before you speak. 

Invisible virtual points that some protocol attributed to online addresses have nothing to do with aesthetics. They are just records of participation in an investment pyramid where you pay in purposeful items and then wait for new contributors to get such items back. It's not stupid to join that - it's just greed or ignorance. But claiming that records of participation in it serve aesthetic purpose is the stupidity at its best.

Well, I know a bunch of people who would disagree with that. Aesthetics is not only about what you can feel with your senses.  For many people, aesthetics can be about the elegance of the design, the technology or even digital assets.  For example, mathematicians and physicists often think some theorems and definitions are beautiful or elegant, attaching importance to the aesthetics of their work (ref: Mathematical beauty).

"A mathematician, like a painter or a poet, is a maker of patterns." - G.H. Hardy

And, in the world of technology, Steve Jobs famously stated, "Design is not just what it looks like and feels like. Design is how it works."

So just because something doesn't fit your personal view of aesthetics doesn't mean it's not artistic or good design for other people.  Aesthetics are subjective, you know?  What one person finds beautiful or elegant, someone else might think is whack.

Are you serious or joking? Who filled your head with this nonsense? Imagine if you invested a lot of money in Bitcoin pyramid and new investors stop investing. And then you come home to your wife, girlfriend, or mom and start preaching this nonsense about the aesthetics of invisible things. What would she say to you? What would any normal person say? So, are you serious or joking? If you're not joking then I would advise you to seek professional psychological help.

[BenCodie]

JamesNZ

Bitcoin and Ethereum have all characteristics of commodities with transferability like ]money. They are not controlled by a board or central power, their supply is scare, their operational rules are governed in a decentralized way and the economics can not be tampered with.

This has already been established by several authorities such as the CTFC and other institutions around the world.

So no, Bitcoin is not money, it is a commodity. Which is even better.

No, it is not a pyramid or ponzi as you have said too. It does not rely on new investors to survive. It can go to $1 tomorrow and the network can still operate the same as if Bitcoin was worth $1000000. The value makes no difference to its operation (for the most part).

There's no point arguing as you are with many members. Maybe 10 years ago you would successfully confuse people and cause debate, but in 2023, you're mistaken.

[benalexis12]

guys I"m pretty sure OP is a super troll cuz people here have endlessly refuted the nonsense he keeps repeating here and he just still keeps repeating it. May as well let this thread die since it is clearly not a serious argument.

I also don't understand why OP says that Bitcoin is not money, but it is accepted as an option payment in all types of businesses around the world. So I think it's probably right that we should just abandon this topic that he made, which is really useless. I'm sorry, but that's the truth.

Because to me, bitcoin is obviously money; that's why it's called a digital currency, and we can clearly see that almost all exchanges have Bitcoin as the main exchange for traders.

[Marvelman]

When Bitcoin first came out back in 2009, I can totally see why people were skeptical of it.  I mean, this weird internet money that isn't backed by any government or physical asset? Yeah, it seemed pretty out there.  but over the years Bitcoin has really proven itself. and  Nowadays, it's taken seriously all over the world.  Major banks and corporations are getting involved with crypto.  Even governments are trying to figure out how to regulate it.  So all those old concerns people had don't really apply anymore. 

Sure, it's still pretty volatile and high-risk compared to something like stocks.  But a lot of smart investors have decided it deserves a place in their portfolios.  And as crypto tech keeps advancing I think Bitcoin will only get more stable and mainstream over time.

[mcdouglasx]

Bitcoin, gold, oil, water, even a $100 bill, among many others, are not money, it is only money when the action of exchanging something for something else occurs.
As long as something has value to others it could be used as money, just like a personalized check that only you can cash, it is money for you and a piece of paper for others.

[mcdouglasx]

guys I"m pretty sure OP is a super troll cuz people here have endlessly refuted the nonsense he keeps repeating here and he just still keeps repeating it. May as well let this thread die since it is clearly not a serious argument.

I also don't understand why OP says that Bitcoin is not money, but it is accepted as an option payment in all types of businesses around the world. So I think it's probably right that we should just abandon this topic that he made, which is really useless. I'm sorry, but that's the truth.

Because to me, bitcoin is obviously money; that's why it's called a digital currency, and we can clearly see that almost all exchanges have Bitcoin as the main exchange for traders.

You just answered yourself, money is the action of exchanging values according to circumstances, money is not something physical, it is something with a variable value, before they used sea shells as money now they use paper and cryptocurrencies, but yes, Are these things money? Or is money something intangible? Or a simple action of giving value to something?
If someone is kidnapped for $1M, is that person money?
When they offer rewards, are those people money? Then we come to the conclusion that everything is money, or the more logical thing is that money is the action of the exchange, not what is exchanged in itself.

[DooMAD]

It's essential to approach Bitcoin with the understanding that its value is determined primarily by market demand and speculation.

Its trading volume is driven primarily by speculation.  Its value is driven by network effects, utility, censorship-resistance, security, predictable supply, etc.  Try not to conflate the two concepts.  

Bitcoin possesses these traits, which many users deem to be desirable.  And the only way to benefit from these traits is to join this network and use the monetary units of this network.  

[franky1]

to correct the OP

currency is anything used as a medium of exchange

That's not correct!

Currency is not ANYTHING used as a medium of exchange, you can use many things as a medium of exchange which I'm sure is obvious around you. You can purchase your shoe and other products and properties with gold or other products and properties, which makes your definition faulty.

Currency is rather a LEGAL TENDER (fiat) note and others backed by the central bank of a country.

to emphasise

currency is any form of medium of exchange.. sex is a form of currency..

when a mass community agree on a currency they call it money

a governments fiat is money..
the US governments money is USD(dollar) but USD(dollar) is not europeans money.. europeans recognise dollar as currency. but not THEIR MONEY
europeans money is EURO. americans money is not EURO but americans recognise euro as a currency.


there are subdivisions of terms.. learn them
a currency does not have to be fiat. but fiat currency is a currency.

bitcoin is not any governments money. bitcoin is OUR money. though other governments recognise bitcoin as currency

get it yet
if we wanna use it for ourself its our money. others not using it wont recognise it as money because they are not in the community that use it

[philipma1957]

If stuff just exists cuz people like how it looks then that stuff has aesthetic purpose. It creates a specific amount of benefit and one can estimate that benefit with benefits provided by other products to exchange stuff rationally.

Yes, that's it!  Bitcoin serves an aesthetic purpose, at least for me – can't speak for everyone else. It's all about finding beauty in those numbers. Glad we got that sorted out!

It hilarious how you managed to create the whole religion from that pyramid.

Hey there! Mocking someone's religion ain't cool. It's basically a form of religious discrimination.

Hahaha. Invisible thing serves an aesthetic purpose. Wow. That's new. I've heard a lot of stupidity from crypto bros but this takes the cake. You people need to seek professional help.

They do exactly that an Oxygen facial Is invisible yet it acts to beauty the skin.

so good luck with your argument. BTC baby allows blockchain artwork and bro that is an aesthete function or purpose.

[wallet4bitcoin]

I consider Bitcoin as loads of things including money, the difference is just that it doesn't function the traditional way.

The single fact that it leverages on a blockchain technology driven by codes makes it become, first, a code, before it becomes a network and then a coin having a dollar value backing it then it becomes a store of value and loads more, depending on who is addressing it as what.

[Ryu_Ar1]

When Bitcoin first came out back in 2009, I can totally see why people were skeptical of it.  I mean, this weird internet money that isn't backed by any government or physical asset? Yeah, it seemed pretty out there.  but over the years Bitcoin has really proven itself. and  Nowadays, it's taken seriously all over the world.  Major banks and corporations are getting involved with crypto.  Even governments are trying to figure out how to regulate it.  So all those old concerns people had don't really apply anymore.  

Actually, when talking about scepticism towards bitcoin it not only happened from the beginning they were created but even today it is like that because it is indeed a sense of scepticism towards bitcoin especially for beginners who are new to bitcoin then scepticism must remain.
So in this case it is important to learn as a whole when we are still not sure so that it will create a new understanding of bitcoin and as a choice whether bitcoin is really worth it or not to be used as investment material.
I think it is important that in the end we must realise that bitcoin is still bitcoin which indeed even though it has now begun to be looked at by many people but if we talk about the current human population, bitcoin adoption and developments that occur are only a small part of the overall population so it is quite natural that the problem of scepticism will continue to exist. But that's not a problem for me personally because at the end of the day it's their right to be sceptical about bitcoin and it's not going to be a problem for me because I'm just going to continue to do what I want to achieve in bitcoin according to my beliefs.