Is Bitcoin cash?

[turvarya]

I was wondering that, since a lot of people say, Bitcoin is like cash, so I looked it up on Wikipedia:

"In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts).
https://en.wikipedia.org/wiki/Cash

So, Bitcoin is definitly cash, per defintion.
So, please stop saying "Bitcoin is like cash"

[Kazimir]

Agree. Actually, Bitcoin is better than traditional paper cash. If you're at work and your paper money is at home, it can't be accessed immediately or near-immediately.

Bitcoins, on the other hand, can be accessed immediately even if you're at the North Pole.

[kpitti]

I was wondering that, since a lot of people say, Bitcoin is like cash, so I looked it up on Wikipedia:

"In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts).
https://en.wikipedia.org/wiki/Cash

So, Bitcoin is definitly cash, per defintion.
So, please stop saying "Bitcoin is like cash"

To my understanding the Bitcoin is not cash. It`s a commodity.
It has some value represented by market to USD, EUR etc... . But this is not important.

[Kazimir]

To my understanding the Bitcoin is not cash. It`s a commodity.

Are they mutually exclusive?

Remember: back in the old days, cash even used to be made of gold.

As turvarya correctly explained, Bitcoin is cash. And on top of that I'd say it's also a commodity.

It has some value represented by market to USD, EUR etc... . But this is not important.

Sure, but both Gold and USD also have some value represented in BTC. That's not the criterion here.

[redsn0w]

No , bitcoin is A Peer-to-Peer Electronic Cash System as told in the bitcoin white paper :

- https://bitcoin.org/bitcoin.pdf

[turvarya]

No , bitcoin is A Peer-to-Peer Electronic Cash System as told in the bitcoin white paper :

- https://bitcoin.org/bitcoin.pdf

Oh, damn, it is already in the Whitepaper.
My extended reasearch was pointless

[Bobsurplus]

To me its better then cash but for the average Joe its not cash yet... When McDonalds is prepared to process btc payments then Id say its cash. Even to the average Joe.

[redsn0w]

No , bitcoin is A Peer-to-Peer Electronic Cash System as told in the bitcoin white paper :

- https://bitcoin.org/bitcoin.pdf

Oh, damn, it is already in the Whitepaper.
My extended reasearch was pointless

  , oh sorry ... but I think the answer was that :

"Electronic Cash"  Not only Cash.

[thebitcoinquiz.com]

I was wondering that, since a lot of people say, Bitcoin is like cash, so I looked it up on Wikipedia:

"In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts).
https://en.wikipedia.org/wiki/Cash

So, Bitcoin is definitly cash, per defintion.
So, please stop saying "Bitcoin is like cash"

"accessed immediately" , this is the feature that I don't think is fine with bitcoin. You cannot use bitcoin immediately to buy things what you want and what you like. We still have to first convert bitcoin into cash and then use it for daily use. So no I don't think that bitcoin can be used like cash.

[Q7]

Practically I'm not really bothered whether you want to call it cash or something else. As long as it has value and j can spend it anywhere in exchange for goods, items or services, that is good for me.

[zetaray]

Cash is notes and coins that you can buy things in a shop. Credit card does the same thing but is not cash. Bitcoin can be accepted everywhere but still is not cash.

[Kazimir]

"accessed immediately" , this is the feature that I don't think is fine with bitcoin. You cannot use bitcoin immediately to buy things what you want and what you like. We still have to first convert bitcoin into cash and then use it for daily use. So no I don't think that bitcoin can be used like cash.

What kind of reverse logic is this.

"USD is not cash, because it is not accessible immediately. First, I have to convert money (like EUR or pound sterling or bitcoins) into USD, and then use it." 

Obviously, the condition of X being accessible immediately, implies that you already have some X in the first place.

[bitwarrior]

Bitcoin is better than ordinary cash. It is an electronic cash, fast secure and anonymous.
It can be use nowadays on several shops online and no need for fiat conversion. It can be used as well as a mode of payment for specialty shops that cater food and beverages.
A few more years from now and we will see the great mass adoption of bitcoin to our daily lives.

[goosoodude]

In your definition stocks and such would also be considered as cash. It does not fit the general idea regarding cash.

BitCoin is a commodity, like gold, silver etc.

[countryfree]

No, BTC isn't cash. Read the first line on wikipedia.

[turvarya]

No, BTC isn't cash. Read the first line on wikipedia.

Don't just read it, also understand it.
vernacular vs. finance use

[numismatist]

Agree. Actually, Bitcoin is better than traditional paper cash. If you're at work and your paper money is at home, it can't be accessed immediately or near-immediately.

Bitcoins, on the other hand, can be accessed immediately even if you're at the North Pole.

THIS should be pointed out as a prominent advertising bullet.

Single coin, spendable only one time, but accessible from different places/persons at the same time.

[numismatist]

Oh, least we forget people HAVE to know better than buying a "used wallet.dat" file for hard currency. All trades must be done inside the blockchain. Seen seldom, but some $&/%§"$ tried to rip off folks like that.

Agree. Actually, Bitcoin is better than traditional paper cash. If you're at work and your paper money is at home, it can't be accessed immediately or near-immediately.

Bitcoins, on the other hand, can be accessed immediately even if you're at the North Pole.

THIS should be pointed out as a prominent advertising bullet.

Single coin, spendable only one time, but accessible from different places/persons at the same time.

[Whitehouse]

Agree. Actually, Bitcoin is better than traditional paper cash. If you're at work and your paper money is at home, it can't be accessed immediately or near-immediately.

Bitcoins, on the other hand, can be accessed immediately even if you're at the North Pole.

Really? They have internet connections at the North Pole? I think bitcoin has pros and cons, and believe me I'm a big fan, but the price fluctuations currently don't make it an ideal currency, though I realize that's just its fiat value and 1btc is still worth 1btc, but it needs to be a better store of value/

[kolloh]

Yeah, bitcoins require an active internet connection in order to send them whereas cash does not. An important distinction to make.