Topic: Is Bitcoin money? - page 10. (Read 112172 times)
Bitcoin is not money at all. Other altcoin are not money too. Why? Lemme explain. Money aka currency should be accepted EVERYWHERE as a payment method, it should be easy to use, it should be stable enough. Cryptocurrencies are accepted only is a few popular companies worldwide, they are still hard to use if you are not really into computers and also they are too volatile.
I think bitcoin is digital currency and it can be said as money but not used as official currency, because bitcoin can be used as payment
Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class". This makes it important to understand what Bitcoin actually is before we try to describe it to others.
We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.
My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]
Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]
Webster's Online Dictionary defines money as:
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I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.
But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?
We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.
My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]
Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]
Webster's Online Dictionary defines money as:
- 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
- 2. Wealth reckoned in terms of money; "all his money is in real estate".
- 3. The official currency issued by a government or national bank; "he changed his money into francs".
- 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
- 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
- 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
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I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.
But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?
Nope. But it turns out to be money hahaXd
Bitcoin is a form of money but it is more on being an investment for me, i don't think that bitcoin is a money anymore because a money can be spend anytime without having some problems but bitcoin is still has its problem like the fees and also the slow network which is not acceptable for a money and bitcoin is just serving us as an asset because the price is keep on growing.
Bitcoin is a cash or we can state another sort of cash yet the diverse thing is.
Bitcoin is indeed money. In fact, Global money ! 
I treat Bitcoin as money. This is a crypto currency that has the properties of ordinary money, but it also has many advantages.
No. It is currently useless for everyday transaction so it is in no way can be called "money" . It is an investment commodity.
I thinks, bitcoin is money but not in physical form like fiat that we can actually hold or carry. However, you can buy some physical items which have bitcoin addresses stored on them, bitcoin has a price that today may cost more than gold.
yes I think bitcoin can be called a currency or gold
because everyone playing a bitcoin just chases money to earn a living on their own or family. Because bitcoin is a convertible currency to philippines or philippines to bitcoin. maybe bitcoin can also be called a money or gold because Another site paid bitcoin not money
That’s exactly what the “goal” of BITCOIN is this, the entire point of cryptocurrency is to become currency not just investment objects because everyone playing a bitcoin just chases money to earn a living on their own or family. Because bitcoin is a convertible currency to philippines or philippines to bitcoin. maybe bitcoin can also be called a money or gold because Another site paid bitcoin not money
bitcoin is more than money in my opinion.bitcoin is getting popular and its value also increased.many people are earning money from bitcoin and run their life.so bitcoin is money without any question.
Define more than money please. Like that’s just wishful thinking at this point which is just confusing the hell out of me for real 
Bitcoins is a digital currency called cryptocurreny.
I think yess Bitcoin may be the best form of money we have ever used.
Is each bitcoin is the same as each other bitcoin? Bitcoin has fungibility problems because technically transactions are traceable. When you make a bitcoin transaction, the coins you spend from your wallet to another wallet have a traceable history back to the point where those coins were mined from the network. If certain services are deemed unfavorable, the history of coins moving through wallets which are associated with unfavorable services could be marked. Therefore in the future some coins could be seen as more valuable because they are clear, meaning they have not been dirtied by touching wallets of unfavorable services. At the current state of the network, bitcoin has fungibility issues, this is a problem which needs to be solved in order to make any bitcoin as valuable as any other bitcoin.
This is an open and shut case; digital currency does not wear, tear or break. However, you can buy some physical items which have bitcoin addresses stored on them, for more information see opendime and casascius coins.
There needs to be a finite supply so that the currency maintains its value. There will only ever be 21 million bitcoins, no person can create more bitcoins. This is a rule which is baked into the bitcoin network, and has a very high degree of security. The vast majority of the people securing the bitcoin network would have to agree on a change to the network rules for them to change, this is highly unlikely to happen given they would agree to change the fundamentals of the network.
Bitcoins is money because it have all fiat features and even more benefits like anonymity and decentralization. Bitcoin is also safe and fast way to pay and buy anything.
For me, bitcoin is money but not in physical form like fiat that we can actually hold or carry. This is money because we can buy goods and make bitcoin as our payment. But now the bitcoin transaction is so dense that it makes it slow.
Not for now. It's just an investment instrument. But in future, it will be! Only problem is high transaction fees. When this problem solved there's no barrier to use it as money.
In my opinion money is considered something that can be used in every day transaction which can be traded easily in everywhere and everyplace, so btc is not money yet
Yes it's another kinds of Bitcoin is the digital currency.Which is a currency as like money.So Bitcoin is also money
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