Bitcoin is not money - page 3. | Bitcointalksearch.org

luxearn

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Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

You can see that although at the moment the price of bitcoin is very high and is at $ 8600/1 Bitcoin, for me bitcoin is still not a currency because simply bitcoin is not recognized by countries around the world. and for legal circulation.

sirminesalot

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Quote from: niisarearning on May 29, 2019, 03:59:55 AM

Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Bitcoin is more than money its holding asset for me its more value than gold having limited supply i was getting gold for future purpose now i concentrate on collecting bitcoin . Hope in future even 1 Piece ( satoshi) will equal to 1 $.

it's true that if you have assets, and you hold your own assets, I think the best investment for now is bitcoin

idham29

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Quote from: Chikitita2004 on May 29, 2019, 02:08:11 PM

Bitcoin is defined as “crypto-currency/digital currency” and currency is money so its money for me. Bitcoin consist numbers and so does money. Your definition and mine do not change what it is anyway. For some it is an asset, a store of value, for some they buy pizza and coffee with it so really dont make sense how we call it.

If the definition of money must be physical, such as US Dollar, Pounsterling or Euro, it is certainly difficult to say that bitcoin is money. But if you see its function as a legitimate payment instrument in a country that legalizes bitcoin, it is money that is used digitally.
In my opinion, it can be concluded that bitcoin is future money that is used digitally, so there must be additional devices so that transactions can be carried out, namely the internet and computers or cellphones.

Sabrin

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Bitcoin is not money But Bitcoin is money. So you have to say bitcoin is not a paper money Bitcoin is a digital money.
My opinion Bitcoin is a virtual money

serjent05

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Quote from: Wayan_Pedjeng on May 29, 2019, 09:24:36 AM

When we label something as money, it must be having two important characteristics. First of all, it must be accepted in a majority of the shops and retail stores. And secondly, it must have a stable exchange rate versus the universal trade currency (i.e the United States Dollar). Unfortunately, right now Bitcoin is devoid of both these characteristics.

Honestly, Bitcoin looks more money than a paper dollar bill. Check the comparison https://www.wallstreetmojo.com/money-vs-currency/

Chikitita2004

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Bitcoin is defined as “crypto-currency/digital currency” and currency is money so its money for me. Bitcoin consist numbers and so does money. Your definition and mine do not change what it is anyway. For some it is an asset, a store of value, for some they buy pizza and coffee with it so really dont make sense how we call it.

Sabrin

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This is very confusing topic about bitcoin. As Bitcoin is not money But Bitcoin is money. Grin

So you have to say Bitcoin is money But not a paper Money.
My opinion, Bitcoin is Virtual money

KlepZ

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The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.

nicecrypto

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@OP how else can you describe a medium of exchange if you don't think btc is money? i think your point of view is very wrong and should be changed, btc could be definitely regarded as money money because it clearly serves some of the major purpose real money can serve which is been use as a medium of exchange, as a store of value, any other thing is secondary Grin

this two to me comes first, even though i have not use btc to buy anything yet but many are using it to transact without stress, btc is evolving you should know that.

Flagship11

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Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

You should learn more before saying something like this Roll Eyes

davit putra

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But bitcoin can have use as a payment process, and I don't think deeply about it and the most important thing for me is that bitcoin can have use as a currency and also as an asset.

Koadharber

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Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Your wrong bitcoin is digital currency you can use it to pay bills same like fiat and if you want to make a real money you can sell it into the exchange,much better research properly what is bitcoin so that you can get idea and how important it is.

jademaxsuy

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LOL, you must be an artist OP comparing bitcoin to arts and I respect your point of view since bitcoin is also important nowadays just like artists do on their artwork. Yet, the most common thing that an individual will going to compare on bitcoin is definitely that bitcoin is more like a money, a digital money. Thus, it allows other user to transact using bitcoin as a medium for exchange and besides many had believe its worth this is why the market price of bitcoin has made a huge increase.

Another thing is that there could be a possible hype that will lead bitcoin to bull run.

Anonylz

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Quote from: Wayan_Pedjeng on May 29, 2019, 09:24:36 AM

When we label something as money, it must be having two important characteristics. First of all, it must be accepted in a majority of the shops and retail stores. And secondly, it must have a stable exchange rate versus the universal trade currency (i.e the United States Dollar). Unfortunately, right now Bitcoin is devoid of both these characteristics.

i do not agree with this, i think btc can be regarded as money because like you said it possess the qualities or characteristics that can be seen in money or any medium of exchange, money represent a medium of exchange or something that is use to transact same thing applies to btc, most people regard btc as a store of value so they they hold on to it, and you can not tell me that btc is not use as medium of exchange or for transactions in both online and offline stores this days, long time ago btc was use to purchase pizza Grin

just like you can use fiat, btc already possess this qualities and can be regarded as money, the acceptance maybe limited.

Wayan_Pedjeng

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When we label something as money, it must be having two important characteristics. First of all, it must be accepted in a majority of the shops and retail stores. And secondly, it must have a stable exchange rate versus the universal trade currency (i.e the United States Dollar). Unfortunately, right now Bitcoin is devoid of both these characteristics.

izanagi narukami

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It is an asset but it can act like fiat/money.
So when I see people comparing between bitcoin and money, they are not the same.

When bitcoin being launch, it's really change people's mind about transaction and investment can be done at same time !

CARrency

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Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

For artwork with 21 million limited editions, it is so over-priced but I did not say that Bitcoin does not deserve this kind of price. Bitcoin deserves it that is the same as the investors that own parts of it. It is true that it is not money, for me, it is a masterpiece by one of the greatest person or group that this world ever has, Satoshi Nakamoto.

bhabygrim

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Quote from: 1A1zP1e on May 20, 2019, 11:29:21 AM

Bitcoin is not money.

It is more an artwork with 21,000,000 limited editions. And each limited edition contains 100,000,000 limited pieces. (satoshis)

Nicely said ,
It is what we think it is ,Because most of us also see's it not as a money but as an investment,
So we all have different opinion about it but it is quite true Bitcoin is an art of a famous artist hidden in the pseudonym Satoshi Nakamoto.

markcryptoexpert

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People give value to things. Why FIAT currency is currency? Beacuse a lot of people accept this and use it.

serjent05

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Quote from: YOSHIE on May 29, 2019, 06:50:24 AM

Who, who says Bitcoin money, no one acknowledges that bitcoin is money,
what is meant by bitcoin is: BITCOIN
What can be said is that Bitcoin is a form to make money when people understand trading and investment systems that is the Bitcoin savior for the general public, poor and rich.
so this Bitcoin is a system that plays with real money every country.

Fact check... What is money?

We all agree that Bitcoin is a currency right? Because Bitcoin can be:

a medium of exchange
a unit of account
portable /durable
divisible
and fungible

it only become a money if it can be a store of Value. Bitcoin can be a store of value so we can say Bitcoin is money but Bitcoin because of its high volatility can be considered poor kind of money. Since the definition of good money is :

source : https://www.philadelphiafed.org/-/media/education/teachers/resources/fed-today/Functions_and_Characteristics_of_Money_Lesson.pdf

In short Bitcoin have all the characteristics of money even though it fare poorly on the stability but it excel on being scarce. Poor money or good money, Bitcoin is, by definition, a form of money.

learn more about currency and money here : https://youtu.be/DyV0OfU3-FU?t=239

edited for more source

Topic: Bitcoin is not money - page 3. (Read 11621 times)