Bitcoin clearly is a currency.
I once discussed with someone who claimed currencies only are currencies when they are backed by a state.
Topic: Bitcoin is NOT a currency debate! (Read 6198 times)
If the volatility would be a criteria to make bitcoin NOT a currency then where is the threshold? Every currency is volatile. Some more some less. So making a threshold there would be fully arbitrary.
Bitcoin clearly is a currency.
I once discussed with someone who claimed currencies only are currencies when they are backed by a state.
Bitcoin clearly is a currency.
I once discussed with someone who claimed currencies only are currencies when they are backed by a state.
Bitcoin is NOT a currency!
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
Putting it that way... it got me confused for a moment. But when you think of it, we only need to deconstruct your own post. If it wasn't a currency why the hell would the seller even accept bitcoin for that purchase?? Simply because bitcoin its currency as well as it is a payment system. So it's more as a commodity that has all the features to be a currency as well as a payment system. You could even think the same about gold!
To tell the truth for me is more store of value than currency or money. I am not using bitcoin at all. Not to buy something, not to trade, not to gamble. I am store it with the hope that its value will increased in time and I can earn much more when this value will be hundred time more.
But I think that bitcoin is money. As someone told above with it can be bought goods. Many merchants (including big producers like Microsoft, Dell, etc) give their products for bitcoin. In the modern world is not used clering so if those give their products when the people give bitcoin then bitcoin without doubt is money.
But I think that bitcoin is money. As someone told above with it can be bought goods. Many merchants (including big producers like Microsoft, Dell, etc) give their products for bitcoin. In the modern world is not used clering so if those give their products when the people give bitcoin then bitcoin without doubt is money.
Bitcoin is valuable as any other currency. Just like Dollars have value and usage now because we think they're worth that much.
Bitcoin is NOT a currency!
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
Well, if you pay the hundred dollars for jeans, and your currency goes up, you will get three hundred when you refund he jeans. Ur logic is weird :'|
I am quite certain Bitcoin is a currency, with your example that means nothing is a currency. When you purchased the jeans with say USD, USD are worth a certain something everywhere else. Say you return them in 2 weeks, well the certain value could have skyrocketed,gone way down and thus although you are getting the same amount of money back, you could be up or down depending on what happened to USD.
It is a currency, but due its volatility, most people will use it to invest and not to pay for goods with it.
I see Bitcoin as digital currency but it is at very early stage to be recognized as currency.It has achieved already much and after the period of evolution in near future will have full status of currency when just digital currencies will be used widely.
most people are involved in bitcoins see it as an investment, But If we don't spend them, they become worthless
isn't "not spending" the sole purpose of an investment? when you invest in an asset, you buy and hold it until the price rises or goes lower that your loss tolerance limit.
and since there aren't any place to spend them (at leas i don't have any place to spend them) bitcoin would stay as an investment for me.
most people are involved in bitcoins see it as an investment, But If we don't spend them, they become worthless
I believe bitcoin is currently treated as investment. So, it's an asset right now like people say it Gold 2.0 Bitcoin need this price speculation. Over time when price get sable after reaching some big big level, people will start spending it (not selling), then bitcoin would be a currency. So, I agree with this thread topic as of now but not after 5 years.
Bitcoin its a currency of course, but still a young currency and not widely used enough, so it makes a potentially good asset for now.
bitcoin can be everything. gold 2.0 , a currency, investment, place where you store value. for each person bitcoin can be something different. no need to give it a certain name.
How do you define money? In my opinion, everything which could be exchanged for other things is "money" in some way. So, from this definition, Bitcoin is already money.
The member called Elwar here can answer this clearly as well as Andreas: They have been living on Bitcoin for a long while now. So yes, it is a currency, as long as it allows you to pay for all that's needed to live, how it cannot be? It's nonsense. So when you get told it isn't a currency point them to the guys living on it already.
I think the important thing to realize is that bitcoin is both an asset and a currency. I hodl some for saving because I believe the value of each bitcoin will rise over time. But I also use it as a currency.
I watched a talk with Andreas earlier today and he said if we can buy or exchange it for things then it is money and I agree with him. People have used many things throughout history as a currency and bitcoin is just the next step of that.
Can you use bitcoin a month without looking at the value compared to dollar? A year?
With any real currency you can use it for years without even knowing how the value is compared to dollar. It doesent matter since both consumers and merchants operate in the same currency all the time.
With any real currency you can use it for years without even knowing how the value is compared to dollar. It doesent matter since both consumers and merchants operate in the same currency all the time.
Everyone do this with all the money. Think of traders. They do such kind calculated arithmetic every moment of they day. That doesn't mean that the money that they work haven't value and are not money or currency. This fact you mentioned have nothing to do with the debate if bitcoin is currency or money or not.
The question is very simple. Can we buy something with bitcoin? Yes. Can we buy a Dell computer with bitcoin? Yes. Can we buy a windows operative system with bitcoin? Yes. Can we buy hundred of things with bitcoin? Yes. It is bitcoin accepted as a money by multiplies merchants? Yes. Is there that merchants are increasing or diminishing? It is increasing.
Whatever it will be the name that can take bitcoin it serve as a tool which substitute the money or the currency? The name that can take can be whatever you want. But the function it have is the function of the money and the currency.
Whatever it will be the name that can take bitcoin it serve as a tool which substitute the money or the currency? The name that can take can be whatever you want. But the function it have is the function of the money and the currency.
You harp on the medium of exchange attribute of currency. Unfortunately, there are other attributes as well - unit of account and store of value. Bitcoin is not doing a very good job as store of value. That is why there is a debate here.
Bitcoin is NOT a currency!
What do you think?
What do you think?
The question is very simple. Can we buy something with bitcoin? Yes. Can we buy a Dell computer with bitcoin? Yes. Can we buy a windows operative system with bitcoin? Yes. Can we buy hundred of things with bitcoin? Yes. It is bitcoin accepted as a money by multiplies merchants? Yes. Is there that merchants are increasing or diminishing? It is increasing.
Whatever it will be the name that can take bitcoin it serve as a tool which substitute the money or the currency? The name that can take can be whatever you want. But the function it have is the function of the money and the currency.
That is true, if you can make purchases using bitcoins, then definitely it is a currency, we cannot say it as a major currency as of now, but yes even it is secondary currency it is benefiting us by paying for our necessities and we can pay it for the exchange of goods and even to convert it into our local currency. So for me it is a currency.
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