Bitcoin is not money - page 7. | Bitcointalksearch.org

Dreamchaser21

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Quote from: Gibreil on May 23, 2019, 07:14:34 PM

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)

Yeah, we know it already. Money is paper currency and bitcoin is digital currency. Though they have the similar characteristics, they differ from their own appearance. Bitcoin can be sent international without going outside your house. If you just have internet and bitcoin, you can pay all time.

That’s true, bitcoin is a better currency as of posting because of that great technology where you can transact around the world without hassle. Bitcoin is not a money but it can give you money or profit where you can use to reinvest or buy things in real world.

suzanne5223

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Quote from: ?? on ??

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)

If I say that gold isn't money then you or your family will not use it? Although bitcoin isn't paper money but it's worth of money like gold. You can't imagine after TEN years where will go bitcoin. Who know bitcoin would use as international currency like USD. As a part of digitalisation bitcoin community is growing very fast and we will see a another revulsion on coming days. Just need change our mind and think positive about bitcoin.

Never mind the OP because he seems not to understand the definition of money before concluded that Bitcoin is not money for anything that is serve as medium of exchange is money. However, the only thing which make Bitcoin different to fiat is because it can held and back by fed while Bitcoin is a true symbol of democracy.

Gibreil

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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)

Yeah, we know it already. Money is paper currency and bitcoin is digital currency. Though they have the similar characteristics, they differ from their own appearance. Bitcoin can be sent international without going outside your house. If you just have internet and bitcoin, you can pay all time.

Pagri

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Bitcoin is money because you can make a large number of transactions and economic exchanges that are only affordable for those that have the necessary capital to carry them out, such as the purchase and sale of goods and services, investments, loans, etc.

The fact that some businesses do not accept bitcoin as a valid form of payment does not diminish its value and importance, just as the fact that in some places they do not accept credit cards but this does not diminish their importance in the financial sphere.

shesheboy

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Quote from: muratsink on May 23, 2019, 05:28:38 PM

in my opinion, BTC is a currency that is not recognized by the world.

Its already recognized by most countries and btc is not just a currency but its also an asset .

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the meaning is BTC is only used as an asset for investment and trade. very sad

Not really . Most people uses thier btc only for an asset use while there are some that uses thier btc for payment and buying . You dont need to feel sad because thats only normal and infact that was the reason on why btc prices rises the most .

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BTC progress is very good. but the public doesn't care about BTC and other crypto. in the future, I hope the world will accept BTC as a legal transaction tool and become a legal currency.

Indeed , btc is improving but it cant improved if people didnt care about it . Btc is accepted as s legal transaction tool only for those country that accept and legalize it .

muratsink

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in my opinion, BTC is a currency that is not recognized by the world. the meaning is BTC is only used as an asset for investment and trade.
very sad. BTC progress is very good. but the public doesn't care about BTC and other crypto. in the future, I hope the world will accept BTC as a legal transaction tool and become a legal currency.

martychubbs

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hello! I think that that it’s difficult to define what is money and what is not. Fiat is paper with a numbers on it, it’s just a symbol.
Then btc is a symbol too. Going digital is just a transition into new society where electronics prevails.
And such things happen not only with money, as we’re talking about robots replacing humans lately.

trickyriky

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Quote from: Adriano2010 on May 21, 2019, 07:58:29 AM

Let say bitcoin is not fiat money, but bitcoin has a lot of value and is like gold but when we want to buy or to sell bitcoin we use fiat money because on most shops is not accepted bitcoin.

If it is called currency already, I will be not too much surprised if soon we will hear that Bitcoin now is qualified as money as well. By the way, it is a type of money already - you can buy things for it, correct?

DreamStage

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Sure it is money Cheesy

How will you get Bitcoin in form of virtual currency? You need someone to actually buy or mine for you to get those so called Bitcoins right Wink

If it was some Virtual Game currency then yeah i would not call it money since you can not exchange it with fiat.

Dilerium90

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With the same success we can say that Milk is not money. And what is there to understand. Yes, Bitcoin is not money and gold is not money. But as long as people are ready to give good money for Bitcoin, it will be valuable.

uray

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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 interpret what ever you like, you can purchase products with that art work and sure it is a limited edition and still there is no concrete answer on why he choose that particular figure for the maximum amount of coins, you just started a topic and you have nothing else to say, what is your understanding of the technology and the art market which is soaring above $200 billion as i write Tongue

.

miropp

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I'm really interested in what will happen to bitcoin when it is extracted completely. It really can be attributed to some limited edition. After all, two developments are possible. Either bitcoin will become a payment method and be stablecoin or its price reaches huge values. I'm interested to see that.

thirdlight

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It seems to me that Bitcoin is just money. Because there is a certain amount of it and it has value. I believe that if it explodes legally, it will be a coup in the economy.

Mike Mayor

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Isn't money just something of value people trade between one another. It has value because we have agreed to give it value and allow us to carry with us currency. So we can trade with a few different currencies but by thousands of things. This way we don't need to carry thousands of things around because the "money" has a rating that can be exchanged for those things. That is all money is really.

BeManga

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CryptoDirectories.com

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)

How can you say bitcoin is not a money if you can bitcoin use it buy and pay something online
bitcoin is not a artwork but a currency there are also some physical shop that starting to accept bitcoin

EdenHazard

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You can buy some stuff using bitcoin if there is merchant who accept it, what does this mean? I thought bitcoin was money when the first time it was created. If you read the whitepaper of bitcoin made by satoshi then you will find some points stated that bitcoin is money. So, what is your problem here? If you have some statements which make you doubt againts bitcoin is money or not then you have to explain in detail, don't just made a statement but you don't explain it.

isaac_clarke22

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Quote from: goaldigger on May 21, 2019, 07:31:45 AM

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

~

I guess weve got some good taste in arts though because we bought many yet we are earning from it not the artist. The longer i am in cryptocurrency, the wierder the people who gets their own definition of Bitcoin. Its funny how can i buy coffee with artwork or getting payed by artwork with the rendered service.

I can't imagine if a book where compilation of different "weird" definition about Bitcoin would be written. Would that also mean that I sold an artwork for fiat cash(what?)? Hopefully the OP clears up what he/she is trying to say. How come that people can use it to basically pay bills if it isn't money?

Lily_Olive

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Bitcoin is a money rather it is a digital assets in form of currency. It is the most powerful assets on the planet right now. There are several ways to convert the bitcoin in real cash and then move it on any bank for further use.

budiarmed

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Depending on the person who interpreted it, those who believe in bitcoin would think bitcoin could be money for payment, and some think bitcoin is not money because it doesn't have a physical form like fiat.

Anders-CM

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Quote from: Ojengonggu on May 21, 2019, 05:40:18 PM

Quote from: Anders-CM on May 21, 2019, 04:36:18 PM

The question is what constitutes money? A dollar bill is nothing but a piece of fabric backed by the "full faith and credit of the United States Government". Unlike US dollars Bitcoin is not running on a fractional reserve. You know what you get, and it has an intrinsic value given to it by its users.

Best comparison I can give is gold. It has no real value, but it's a scarcity with real life application, so we grant it a specific value. In my opinion, Bitcoin is superior to gold, given it's so easy to move, divide and trade. So perhaps we should call Bitcoins digital gold.

ha ha ha ... you mean bitcoin can't be money as fiat and tends to be more like a valuable asset whose price can change and can't be controlled by the government as gold. I think I agree with you because bitcoin is different from the amount and prices can be controlled while bitcoin is not like that

Well, it's a paradox that we call dollars money. It's only considered "money" because it's backed by the United States Government (and the same goes with other currencies). Bitcoin is not backed by any institution, nor is it really a commodity the way gold is. Bitcoins hinge on real life applications, and its role as a mother coin. I see a bright future for bitcoins, given ETF's are approved (which they certainly will be down the road) and people start using it at a greater scale.

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