Topic: Bitcoin is NOT a currency debate! - page 2. (Read 6199 times)

 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.

Currency can take many forms, but cash specifically uses tokens. Bitcoin replaces physical tokens like metal coins and banknotes with digital tokens.

Huh? Since when is a currency only a currency when many accept it? Will you accept money form a country far away? Surely not. But it's still a currency. If you are in the country where the money is from then you might accept it. And when you are at a bitcoin conference then you surely will pay with bitcoins too.

Why do you invent reasons why bitcoin is not a currency?

Why do you keep saying that a currency has to have an intrinsic value? Don't you realize that no fiat money has an intrinsic value too? Fiat only has a value because a government backs the value, or the state as a whole. But there simply is no intrinsic value. Maybe you can burn it and create warmth but that's it already.

And bitcoin has value because trust in other bitcoiners. Not in a government.

Bitcoin is not like gold. Gold has an intrinsic value. Bitcoin is more like fiat. Fiat has no intrinsic value. Fiat and bitcoin only has value because of trusting that the value can be held up.

This is clearly a warped view on reality. Bitcoins are used for far more than that. Normal uses. And even when it would be used for gambling, who cares? It would be a currency mostly used for gambling then simply.

And only because of missing adoption a currency does not lose it's status as currency, don't you think?

You realize that you used double negation? You need to use either one or the other. The way you wrote it you say "From all of the anti-bitcoin arguments being a proper currency" and because of that i first awaited you think it is no currency too.

yeah ask the guy who receive 10k bitcoins for pizza for refund

the amount of bitcoin they pay you that also the amount you will refund..
where that idea came from bitcoin is another way of payment if they pay you in dollar refund it in dollar
if they pay you in bitcoin refund it in bitcoin in the exact amount and not in the price..

Just as the value of the dollar is built on trusting the people who accept it. There's no core difference between a service for bitcoin and one for another currency.

Yeah it is a currency as we are getting the goods in exchange of bitcoins, so for me it is a currency, if it would not be a currency then how can we make purchases or get phone credits, it has a value and if it has a value than it has to be a currency.

already part of the list of currencies for a long time , only because some do not sympathize with your concept does not make it any less or more than the outras.A crisis that is spreading among the countries , will only show that the bitcoin and the best way to avoid .... making losses if the currency of the inves investment banks and their attractive proposals of rentability , someone already thought the economy of a country of only bitcoins ? our coins do not have more value , have lost much to the constant crises and inflation over time.

Let's see, it is a medium of exchange and a store of wealth. So if it's not a currency then it's... a carrot I guess?

I think bitcoin is still curency for now bitcoin is volatile but its gonna be awesome if someday there is a country or goverment that accepted bitcoin as full curency
and we could buy a jeans that worthed 0.5 Bitcoin and next month on the same jeans we still paid 0.5 Bitcoin i wish my dreams came true

I use BTC as currency, and I use it as a store of value and a medium of exchange. You can tell people its not a currency all you want but it is used as a currency by many, and used not as a currency by many others.

Bitcoin isn’t Currency, it’s Money

Most people don’t even realize that money and currency are not the same thing. Although, people tend to see the similarities between each other, most of the times, they completely forget its differences.

Currency was invented to replace Gold as an independent, natural medium of exchange and it has been maintained by governments.  Currency has no limited supply and governments have been using this key feature to take value out from thin air. On the other hand, money came before currency. By definition, currency is inflationary and tends to lose value. The difference between currency and money is important because the global economy is increasingly unstable under a process based on fiat induced debt.

Money and currency have similar properties:

·         Divisibility

·         Units of account

·         Medium of exchange

·         Durable

·         Fungible

·         Portable

Money and Currency have the same components other than one very important one. Money has the ability tostore value. All Fiat currencies do not store value. If they did then you would still be able to buy the same amount of things you could have bought in 1920 with $1 as you could today. And we all know that is not possible. But to show you the real difference, 1 ounce of gold or silver in 1920 can still purchase the same items today. Currency is everything money is, except a store of value over a long period. That is the difference between currency and money. Money is a stable store of value and maintains consistent purchasing power over time.

Fiat currencies are built on trust. In fact, currency isn’t backed by anything of intrinsic value, and governments tend to deflate the value of fiat currency in order to take out value by issuing more currency.

Despite the volatility, gold has been able to maintain its value for centuries while currency has been devaluating since its first appearance. In this sense, Gold is a much more effective way of storing value. Considering this analysis and the fact that Bitcoin is the “digital Gold”, we can say that both gold and bitcoin are real forms of money and a much better store of value than any fiat currency.

now the all time chart is saying that is increasing, so we have the right to think that the chance to increase is with us and not against, which mean above 50%

surely bitcoin is not only a currency now(people are investing more than using it it seems), and i'm waiting when bitcoin will not be measured with fiat to consider it a 100% currency

I would like to ask you to stop writing uppercase. It's considered shouting and so it's somewhat unfriendly since there is no reason you coming in here and shouting.

If i would follow your argument then this would mean that a hyperinflating currency, like the zimbabwean dollar, is no currency too. I mean merchants would do good to only accept US-Dollar instead, or exchange their zimbabwean dollar to something more worthy instantly. Only then they can be sure that their money isn't worth half next day.

Or decrease in value 

Bitcoin is a store of wealth / currency / whatever you want to call it that one holds and which may increase in value over time.