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Topic: Is Bitcoin money? - page 100. (Read 112169 times)

full member
Activity: 134
Merit: 100
July 06, 2017, 11:02:03 AM
Because bitcoin can be to buy goods and transactions means we do not need ragulagi bitcoin is money Wink



Bitcoin is a digital currency. It can be used to buy merchandise anonymously and international payments are easy. Transactions are made with no middle men, that mean no banks! So it can be considered as money.
full member
Activity: 172
Merit: 100
July 06, 2017, 03:56:33 AM
For me, bitcoin is a new kind of electronic money. They can not be touched, but they can be earned very well and anonymously. Also bitcoin can be paid through the Internet, which makes it virtual money.
full member
Activity: 150
Merit: 100
July 06, 2017, 03:56:08 AM
Yes, bitcoin is digital money. Bitcoin is developed based on the coding language to store the money, transfer the money in quick and safe way and convert into cash. Lots of benefits in business system.
newbie
Activity: 15
Merit: 0
July 06, 2017, 03:49:36 AM
Using currencies is money for me.Sure it is, it is a passive way of earning money,possibility of earning for everyone.
sr. member
Activity: 560
Merit: 257
July 05, 2017, 04:53:49 PM
Bitcoin is a new technology of money, cryptocurrency. It's characteristics that currency/digital token of 3rd party/asset/commodity don't have
Because of the new technology that implemented in bitcoin then it is the possible new currency for the future because a lot of people wants decentralization and they don't want to be controlled by the government so it is very suited in bitcoin and i believe that bitcoin will become one of the best currency after a few years because the countries already adopted bitcoin.
Well could be you are right, i mean that could happen, i can see it happening. Bitcoin have potential to become best currency, but to achieve that it need some things to get pass. But i think  that first one is August scaling, or segwit call it what ever you want. But either way bitcoin will survive, and maybe one day it will be currency number one. Cheesy
hero member
Activity: 2590
Merit: 644
July 05, 2017, 05:21:16 AM
Bitcoin is a new technology of money, cryptocurrency. It's characteristics that currency/digital token of 3rd party/asset/commodity don't have
Because of the new technology that implemented in bitcoin then it is the possible new currency for the future because a lot of people wants decentralization and they don't want to be controlled by the government so it is very suited in bitcoin and i believe that bitcoin will become one of the best currency after a few years because the countries already adopted bitcoin.
hero member
Activity: 644
Merit: 500
July 05, 2017, 05:11:16 AM
Bitcoin is a new technology of money, cryptocurrency. It's characteristics that currency/digital token of 3rd party/asset/commodity don't have
sr. member
Activity: 518
Merit: 250
July 04, 2017, 06:39:13 PM
    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:
    • 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.
    [links omitted]
    [/list]

    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?





    Maintaining bitcoin as a digital currency it is a cryptocurrency or simple as a currency so we can use it as a currency to buy in store so it is a some sort or time of money digital but i guess we cant use it because people still dont adopt the bitcoin or technology completely.
    hero member
    Activity: 2268
    Merit: 789
    July 04, 2017, 06:31:35 PM
    Simple answer: Yes

    Detailed answer: It is basically virtual money

    Yes and the detailed answer is this: Bitcoin is definitely money since it holds monetary if value if one exchanges it to fiat money. As you observed, the conversion rates from bitcoin to fiat money is considerably high and therefore, people take this as an opportunity for future investment. Since bitcoin also is decentralized, no third parties can regulate the system of it. Some people also use bitcoin as a source of extra income due to the availability of earning it through campaign signatures or other types of services.
    sr. member
    Activity: 406
    Merit: 256
    July 04, 2017, 06:22:26 PM
    Because bitcoin can be to buy goods and transactions means we do not need ragulagi bitcoin is money Wink
    The money is used to purchase goods. Trade bitcoins is still very underdeveloped in order to be able to consider bitcoins money. It's more like the stock which are very popular. When you develop trade with bitcoin it will be a different story.
    sr. member
    Activity: 277
    Merit: 250
    July 04, 2017, 06:05:30 PM
    Because bitcoin can be to buy goods and transactions means we do not need ragulagi bitcoin is money Wink
    full member
    Activity: 159
    Merit: 102
    July 04, 2017, 03:52:01 PM
    No, Bitcoin is not money for me.
    The definition of bitcoin for me is An exchange share, It can be considered as an investment because the price can change. A money is a liquidity that has a fixed value.
    full member
    Activity: 476
    Merit: 100
    July 04, 2017, 03:15:52 PM
    It's because bitcoin is called internet money and money will go out in our market. Such as online markets, merchants and others.
    full member
    Activity: 157
    Merit: 100
    July 04, 2017, 12:30:26 PM
    Since it can be used to buy items, goods, services and can be bought and sold using other currencies then it's a currency, it can be used directly to buy items unlike gold, silver and commodities and it has an intrinsic value, Even in the most rigid view, bitcoin has all the characteristic of a currency, it being online or offline holds no significance regarding that.



    It is a digital form of money. we can do the same things which we do by the normal currency in our day to day life. for example we can buy, sell, exchange,transfer etc. so bitcoin can be considered as money.
    newbie
    Activity: 5
    Merit: 0
    July 04, 2017, 11:32:56 AM
    Since it can be used to buy items, goods, services and can be bought and sold using other currencies then it's a currency, it can be used directly to buy items unlike gold, silver and commodities and it has an intrinsic value, Even in the most rigid view, bitcoin has all the characteristic of a currency, it being online or offline holds no significance regarding that.
    sr. member
    Activity: 714
    Merit: 252
    July 04, 2017, 10:18:52 AM
    Sure it is and your post itself explains why it is so. Its not fiat we agreed that but it doesn't have to be fiat. It is just another form of the money which can be bought, borrowed, rented, things can be bought with it and much more. We can do almost all the things with it that we do usually with normal money or fiat money. Bitcoin is having proper value and it is also a form commodity in the market used popularly for trading with other commodity. It can be exchanged for other coins in the market as well as other currencies of the world just like you would do with the normal money.
    newbie
    Activity: 7
    Merit: 0
    July 04, 2017, 10:15:53 AM
    Depends on the exact definition of money, I would say it is since it's exchangeable with value toward items, although the value isn't stable and fluctuate depending on the market and other factors as well, but in the end, it has an intrinsic value without even exchanging it and can be used directly to buy some items, hence money.
    full member
    Activity: 294
    Merit: 100
    July 04, 2017, 09:56:40 AM
      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:
      • 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.
      [links omitted]
      [/list]

      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?





      So I think Bitcoin is one kind of money but it's more than money because it's just like "digital gold", you can store Bitocin and wait for it to grow up and sell them. But if you are asking if Bitcoin is money, yes, it is.
      sr. member
      Activity: 476
      Merit: 250
      July 04, 2017, 09:51:29 AM
      Yes it is, for me though. But technically it is because we can exchange it into a real money and it can do what money can also do. But the advantage of it is its price or value rises from time to time but real currency do not.
      hero member
      Activity: 1316
      Merit: 407
      Top Crypto Casino
      July 03, 2017, 03:14:35 PM
      Bitcoin is money, whether accepted by all or not. The fact that it is digital does not change the way it is treated, money or not.
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