Btc not money | Bitcointalksearch.org

NYMIE

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Quote from: 325btc on August 13, 2022, 04:16:42 PM

Crypto is not money the money start with fiat currency.

In economics money is a medium of exchange. The object of exchange can be in the form of goods and services. Broadly speaking, money can be defined as a means of payment for humans living on planet earth. For those living on other planets maybe not as a means of payment.

Bitcoin is an innovative payment network or can be called a new type of money that is known as the most promising investment. If money is used for transactions, then Bitcoin can also be used as a transaction tool with low fees.

How? Bitcoin is also money right?

Techkoy407

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bitcoin is not cash, other cryptos are not cash either,
in my view crypto/bitcoin is digital money,
why is it called digital money,
because in some countries, bitcoin is used as a means of payment such as in restaurants and at gas stations.

and bitcoin/crypto are also used as investment assets,

definitely bitcoin/crypto
is
• investment assets
• means of payment
but digitally. (the form is just a code or something)

Lizzylove1

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Bitcoin and other cryptocurrencies are actually more not just some sort of digital abstract code that can go into oblivion at the slightest turbulence. Some nations already accepting bitcoin as a legal tender. As along as it's easily converted to any useable value and it's acceptable, it's a form of money. See! a country currency are usually not a legal tender in another nation, hence a window of exchange for conversion.

ajiz138

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Quote from: Slow death on October 07, 2022, 06:19:55 AM

The OP is forgetting that in many places they accept bitcoin as a payment method. the person takes their bitcoin and buys things or goods and services, I for example take my bitcoin and I can buy top up for my cell phone, so that means that bitcoin is a currency and can also be used as an investment asset In the long run, this will depend on each person and the options people have for being able to use bitcoin as a payment method in the real world. OP, he's saying things for feelings, he must have had some kind of disappointment with bitcoin and it made him hate bitcoin to the point of posting things without first calming down and thinking more clearly

We can see in some places Bitcoin has become a legal tender even on holidays now we can use Bitcoin without fiat anymore the island of Boracay (Philippines) has become widespread that Bitcoin is also almost the same as money can be used in some areas that are needed in the region certain but I'm sure we will see more Bitcoin payments in the future.
So Bitcoin can be used for payments and also long-term investment assets, those are two good choices in my opinion going forward.
There is no need to be disappointed with Bitcoin maybe they are disappointed just because the loss is not about how the benefits are for the future.

tam31

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Quote from: Note3 on October 07, 2022, 12:37:55 AM

Quote from: Awwal08 on September 08, 2022, 01:08:27 PM

The government is not happy because they can not control the wealth of their citizens. Not like fiat currency, Bitcoin is a free access to anyone who has money. I am really waiting for bitcoin to overthrow all currency of the world.

And one more reason why the government tends to not like bitcoin because they always consider it as a competitor for theirs fiat no one likes to be rivaled.
That's why they always take steps to slow down or if possible stop its uses because if Bitcoin continues to develop its use can defeat Fiat in the transaction in the future

Well, it is competitor to fiat, after all bitcoin is a lot better and that could be a problem, I am not saying that it’s going to hurt a lot, but it’s going to have some sort of trouble with it. It doesn't matter if governments could try to get away with it or not, because no matter what we are talking about something decentralized and that means we are not going to see anything that will be easy for government to fight against and we are going to have to accept that governments will lose against crypto.

So, it is much better for them to just accept it, track it, and then tax it which means they will be able to actually provide some funding for their government.

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Quote from: 325btc on August 13, 2022, 04:16:42 PM

Btc is not money stop following your country rules and regulations u cant regulate something what doesnt exist.
Btc are digital the money is only when you sell or buy if fiat transactions involved then we talk about this fiat transactions and its no matter for what those transactions was.
Btc is just in the computer some digits and its not money neither stable coins not money.

Crypto is not money the money start with fiat currency.

Money performs different functions and the main one is a measure of value. Money can be any object of the material or non-material world that people will use as a model of value. Money is not only banknotes of the state. Since ancient times, these were pieces of gold, silver or bronze. In some nations, even processed ordinary stones served as money. The money was livestock or household items. That is, everything that people agree to consider as a value. Bitcoin became money when people began to consider it valuable and could exchange it not only for fiat, but also for the same gold or any other material items that represent a certain value.

Slow death

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The OP is forgetting that in many places they accept bitcoin as a payment method. the person takes their bitcoin and buys things or goods and services, I for example take my bitcoin and I can buy top up for my cell phone, so that means that bitcoin is a currency and can also be used as an investment asset In the long run, this will depend on each person and the options people have for being able to use bitcoin as a payment method in the real world. OP, he's saying things for feelings, he must have had some kind of disappointment with bitcoin and it made him hate bitcoin to the point of posting things without first calming down and thinking more clearly

Quote from: 8rch7 on October 07, 2022, 05:19:59 AM

As you said it makes a lot of sense, because FIAT money is just a piece of paper, while gold is just a yellow metal, but all of that becomes valuable when many people want these items and depend on them to live, like people depend on living with FIAT currency. ,

people may also need bitcoin in case they want privacy and let's suppose someone wants to travel to the US and that person has 1 million US dollars but that person cannot travel with all that money on the plane this person doesn't trust the bank so this person can buy bitcoin worth 1 million dollars and then travel and when he arrives in the US spend these bitcoins worth 1 million US dollars. bitcoin has many advantages

8rch7

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As you said it makes a lot of sense, because FIAT money is just a piece of paper, while gold is just a yellow metal, but all of that becomes valuable when many people want these items and depend on them to live, like people depend on living with FIAT currency. , actually bitcoin is a digital currency created by Satoshi in 2009, it is true that bitcoin has not become a legal tender in most of the world, but the emergence of bitcoin can be an attraction in itself to make a promising investment asset, but to make bitcoin as a legal currency is definitely very difficult to happen, because bitcoin is strongly opposed by the government.

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Quote from: Awwal08 on September 08, 2022, 01:08:27 PM

......... I am really waiting for bitcoin to overthrow all currency of the world.

are you sure about this, whether the country will approve / recognize it as a currency, it is impossible for bitcoin to overthrow all world currencies,
bitcoin is not like fiat which is needed in every country and all walks of life,
sorry bitcoin if in my country only certain people know about this, and they don't care about bitcoin but they are hard to find out what bitcoin is and its advantages, because they are very sensitive to the name money more trust in fiat

Lida93

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The question is, what then is money?
Cause there's precious metals such as gold, silver etc, and these are all value attributed objects, that were been used as means of exchange in form of coins back in those years of old, and later paper, what I would called special papers where introduced and attributed value to it in different amount. Yet they could be referred to as anything but it's money cause the value of exchange has been given to it.

In same way btc has exchange value, store of value etc, so actually it can be referred to or called money irrespective of what ever professional register of word given.
BTC is money!

Note3

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Quote from: Awwal08 on September 08, 2022, 01:08:27 PM

The government is not happy because they can not control the wealth of their citizens. Not like fiat currency, Bitcoin is a free access to anyone who has money. I am really waiting for bitcoin to overthrow all currency of the world.

And one more reason why the government tends to not like bitcoin because they always consider it as a competitor for theirs fiat no one likes to be rivaled.
That's why they always take steps to slow down or if possible stop its uses because if Bitcoin continues to develop its use can defeat Fiat in the transaction in the future

poldanmig

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Quote from: Awwal08 on September 08, 2022, 01:08:27 PM

I agree with all what you said is the best of all among the other currency. The government is not happy because they can not control the wealth of their citizens. Not like fiat currency, Bitcoin is a free access to anyone who has money. I am really waiting for bitcoin to overthrow all currency of the world.

Bitcoin does have many advantages over fiat currencies including that it cannot be regulated by any government, but to overthrow the fiat currency is clearly an impossible thing for bitcoin to do because after all fiat currency is an important requirement in a country, so it is unlikely that bitcoin will completely replace it the role of fiat money, I personally might see that bitcoin will be transformed into one of the global currencies side by side with fiat currency and of course it will not be separated because of the possibility that both will support each other in the future.

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Yes, bitcoin is a cryptocurrency, a form of electronic money. Bitcoin is a decentralized digital currency with no central bank or single administrator intervention that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries and without paying any transaction fees.
and anything that has a scarcity of supply and demand can be considered money, bitcoin has all this and more.

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Quote from: Tony116 on September 07, 2022, 11:14:08 PM

Quote from: KaliLinux on August 27, 2022, 02:16:41 AM

Quote from: ?? on ??

Quote from: piebeyb on August 16, 2022, 01:09:26 PM

in my country it is forbidden to consider bitcoin as a currency and I must obey the law, bitcoin can only be used as a digital asset, but bitcoin can also be used as a means of payment such as buying a domain and hosting, I usually use bitcoin to buy a domain and hosting , you are right for now bitcoin is not money but we don't know in the future

Bitcoin is forbidden in many countries ‍as well as allowed in some countries. Just look about one country India which is the potential country especially in crypto currency. Where Crypto curreny is legalized with the stipulation that it can be invested only for commercial purposes. There investment is legal but there is no legal tender. Whatever one says, today or tomorrow it will act like a currency and be used as a world digital currency with the fiat currency.

I really don't think that Bitcoin is forbidden in many countries as you claim, however, using just one country India to justify your claim, just because Bitcoin is not seen as a legal tender does not mean it is not a currency. I believe this is the other aspect of the issue where most get it wrong thinking that Bitcoin has to be proclaimed a legal tender before we can see it as being legal or a currency. However, if OP was referring to money in the physical sense, then no but Bitcoin has and still doing everything fiat money does within the jurisdiction of those that accept it.

Ignore government approval and stick to the concept of what money is, clearly bitcoin is an even better currency than all the currencies in circulation in the world.

The biggest barrier that makes bitcoin not an official currency is the government, they don't want to recognize it as a currency because they are not the creator of it and can't control it. But I predict bitcoin will become an additional means of payment besides fiat money, with the popularity and outstanding benefits of bitcoin, it is certain that it will soon become a payment method in many parts of the world.

I agree with all what you said is the best of all among the other currency. The government is not happy because they can not control the wealth of their citizens. Not like fiat currency, Bitcoin is a free access to anyone who has money. I am really waiting for bitcoin to overthrow all currency of the world.

Tony116

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Quote from: KaliLinux on August 27, 2022, 02:16:41 AM

Quote from: ?? on ??

Quote from: piebeyb on August 16, 2022, 01:09:26 PM

in my country it is forbidden to consider bitcoin as a currency and I must obey the law, bitcoin can only be used as a digital asset, but bitcoin can also be used as a means of payment such as buying a domain and hosting, I usually use bitcoin to buy a domain and hosting , you are right for now bitcoin is not money but we don't know in the future

Bitcoin is forbidden in many countries ‍as well as allowed in some countries. Just look about one country India which is the potential country especially in crypto currency. Where Crypto curreny is legalized with the stipulation that it can be invested only for commercial purposes. There investment is legal but there is no legal tender. Whatever one says, today or tomorrow it will act like a currency and be used as a world digital currency with the fiat currency.

I really don't think that Bitcoin is forbidden in many countries as you claim, however, using just one country India to justify your claim, just because Bitcoin is not seen as a legal tender does not mean it is not a currency. I believe this is the other aspect of the issue where most get it wrong thinking that Bitcoin has to be proclaimed a legal tender before we can see it as being legal or a currency. However, if OP was referring to money in the physical sense, then no but Bitcoin has and still doing everything fiat money does within the jurisdiction of those that accept it.

Ignore government approval and stick to the concept of what money is, clearly bitcoin is an even better currency than all the currencies in circulation in the world.

The biggest barrier that makes bitcoin not an official currency is the government, they don't want to recognize it as a currency because they are not the creator of it and can't control it. But I predict bitcoin will become an additional means of payment besides fiat money, with the popularity and outstanding benefits of bitcoin, it is certain that it will soon become a payment method in many parts of the world.

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Quote from: Coin BTC on August 30, 2022, 11:56:40 AM

If you interpret and understand paper money it may be true what you say, that Bitcoin is not money, actually Bitcoin is money in the form of digital assets or a number that is very valuable, but it is not certain in value / according to market conditions, so far I know Bitcoin I think is a very valuable asset.

of course if they understand, no one will say that bitcoin is paper money but it is true what you say that it is a digital asset just like any other asset in a different form (forex, house, car, gold) but still valuable and can be sold buy it, it can even be converted into paper money as desired, but indeed the price varies according to the circumstances at that time.
bitcoin is an asset that is currently highly sought after because its price is able to increase high compared to existing assets that have been in effect so far.

GxSTxV

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What’s the difference between bitcoin and money if both are valuable? Before money people they use food and useful tools to do transactions and exchange things for example someone has apple farm he can exchange it for bread with another person until money was invented and made life easier for most of people that’s why everyone accepted it. For me i see bitcoin now as a new version and an update of money and way better than money. You can use it as money and also as investment.

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If sellers accept bitcoin, then it is still money.

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Quote from: jaberwock on August 30, 2022, 12:46:24 AM

Quote from: ?? on ??

Bitcoin is a digital money that can be use to purchase things just like the fiat. Bitcoin as money is more better than the fiat currency, the only features fiat has is to buy goods and services, but apart from buying goods and services Bitcoin can be invested to generate profits . Bitcoin is a good investment in our modern world.

Yeah, it's a currency but sadly many people don't use it just like that but they use it to make more money in the form of trading, investing and gambling. Btc has an advantage over fiat but it also has disadvantages so don't say that btc is more better than a fiat.

Fiat may not have that asset ability like a btc but you can also use it to make more fiat like if you lend your money and charge them an interest and other fees. You can also put your fiat on the bank or on some digital wallets as savings to be able to receive some profits. Our modern world now has full of crises and one of the major crises is inflation. Btc can be a good solution for this.

That's because people do not understand what kind of power we would have if we were to only manage to use it as a currency. That doesn't mean that we should not be using it as an investment neither because we can use it that way and it would stay great.

However, if we want bitcoin to be fully utilized and taken advantage of then the best thing to do would be to start using it as a currency all around the world. This would allow whole globe to get closer to each other and even better than paypal as well. Hence, it's going to be a bit of a trouble for "some" people to make this switch since it's not easy to get PC or smart phones in some regions, but it's doable.

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If you interpret and understand paper money it may be true what you say, that Bitcoin is not money, actually Bitcoin is money in the form of digital assets or a number that is very valuable, but it is not certain in value / according to market conditions, so far I know Bitcoin I think is a very valuable asset.

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