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Topic: Is Bitcoin money? - page 105. (Read 112169 times)

sr. member
Activity: 406
Merit: 250
https://gexcrypto.io
June 12, 2017, 12:33:32 AM
Yes. Bitcoin is a money.
We all know that bitcoin is convertible to a fiat so there's no need to argu whether bitcoin is money or not. Bitcoin is valuable than any other currency making it more significant than money. We can have atleast convert bitcoin into fiat so that we could buy everything we wanted to have.
hero member
Activity: 2702
Merit: 704
Bitcoin is GOD
June 11, 2017, 11:33:56 PM
Money performs many functions. They are used not only as payment. For ordinary people, they are considered only as payment. For the economy of the country - this is an important tool. Bitcoin does not have the functions of supporting the economy. Therefore, it can not be called full-fledged money in the sense that exists now
You are trying to add your own twist to what makes something money, for something to be considered money it needs to have several characteristics and bitcoin posses them all, there is no way around that bitcoin is money whether people like it or  not.
member
Activity: 112
Merit: 10
June 08, 2017, 12:42:53 PM
Bitcoin is an asset currently though most of us wish it could function like "real" money. Once scaling solutions come online it could very well be classified like real money and that is also when the price is really going to lift off as more people see they can actually use it rather than just storing it.
sr. member
Activity: 348
Merit: 250
June 08, 2017, 12:38:33 PM
bitcoin is money and not a commodity. for a generally accepted commodity is money.
my question what can money do that bitcoin can not do? Huh Huh Huh Huh Huh
Other currency can tax, but Bitcoin (or Crypto) is not
Other currency can management by a country, but Bitcoin can't do that
Other currency need more time and spend a hight fee when you send a huge money between countries, but Bitcoin and Crypto not need that, only spend a small fee to spend for miner and receive money with short time ...
sr. member
Activity: 350
Merit: 250
June 07, 2017, 01:37:58 PM
I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Bitcoin is electronic and digital money in online market that you use in different transaction like paying bills and many more. I guess some people use it in their business to gain much profit and I can say that the bitcoin is money.

Its an electronic and digital money yes but its not at all convenient to use for transactions and only a handful of people actually use it on a regular basis to pay for bills directly, most people still convert it first to fiat.
in fact the use of bitcoin s still not so common, most of the people cannot use bitcoin even online, therefore they mostly convert bitcoin into local currency, I am sure that when they will learn about how to use bitcoin online, or they will have the facilities to use bitcoin in their local shops then they will certainly give preference to bitcoin instead of fiat currency. because bitcoin s more convenient to use.
member
Activity: 95
Merit: 10
June 07, 2017, 01:18:44 PM
Money performs many functions. They are used not only as payment. For ordinary people, they are considered only as payment. For the economy of the country - this is an important tool. Bitcoin does not have the functions of supporting the economy. Therefore, it can not be called full-fledged money in the sense that exists now
full member
Activity: 182
Merit: 106
June 07, 2017, 12:27:40 PM
I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Bitcoin is electronic and digital money in online market that you use in different transaction like paying bills and many more. I guess some people use it in their business to gain much profit and I can say that the bitcoin is money.

Its an electronic and digital money yes but its not at all convenient to use for transactions and only a handful of people actually use it on a regular basis to pay for bills directly, most people still convert it first to fiat.
sr. member
Activity: 392
Merit: 292
June 07, 2017, 12:24:36 PM
I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Bitcoin is electronic and digital money in online market that you use in different transaction like paying bills and many more. I guess some people use it in their business to gain much profit and I can say that the bitcoin is money.
bitcoin is money because we can use it to buy everything that we want, it has also a value and a great rank in the market. like cash we can support our need by buying all those stuffs. bitcoin is money, we can buy thru it, it has a value a demand and a supply , therefore i conclude that bitcoin is money , a digital money that we can earn in internet.

I know bitcoin as a currency, not a money, with the bitcoin's value and price, it is not just a fitting way to call it a digital money, it must be digital currency. Ang money is different from currency, money has a smaller value than currency.
hero member
Activity: 924
Merit: 500
June 07, 2017, 12:21:00 PM
I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Bitcoin is electronic and digital money in online market that you use in different transaction like paying bills and many more. I guess some people use it in their business to gain much profit and I can say that the bitcoin is money.
bitcoin is money because we can use it to buy everything that we want, it has also a value and a great rank in the market. like cash we can support our need by buying all those stuffs. bitcoin is money, we can buy thru it, it has a value a demand and a supply , therefore i conclude that bitcoin is money , a digital money that we can earn in internet.
sr. member
Activity: 896
Merit: 267
★Bitvest.io★ Play Plinko or Invest!
June 07, 2017, 12:04:27 PM
I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

Bitcoin is electronic and digital money in online market that you use in different transaction like paying bills and many more. I guess some people use it in their business to gain much profit and I can say that the bitcoin is money.
hero member
Activity: 2702
Merit: 704
Bitcoin is GOD
June 07, 2017, 11:42:46 AM
well, bitcoins has lots of characteristics similar to money buy it is definitely not money. one of the characteristics that a money has and bitcoin doesn't is that it has a physical appearance. Bitcoin is not money but an online currency. it has some of the functions the same as money like it has value and transferable or remittable.

Wrong.

First of all, there are Bitcoin physical coins.
Second, nowadays most of money is transferred via online transactions. (Unfortunately) paper cash and physical coins are not so widely used nowadays.

Thus, if you consider popular fiat currencies like € or $, they are mainly send and received online. Just numbers that move from a computer to another one, basically.

I'd like to make a correction

Bitcoin physical coins are certainly not cash since they are more like hardware wallets since if you credit some coins to this wallet address, its balance will increase. Conversely, if you spend coins from this wallet, its balance will go down. And while we are at it, Bitcoin depositary receipts would legitimately count as Bitcoin cash. This is basically what money backed up by precious metals amounted to, e.g. genuine American dollars before the FED were exactly that since they had been fully redeemable for gold
Then How can Bitcoin be equated to real money, if for example the dollar is backed by gold? The fact is that gold itself is a valuable metal and carries already jewelry itself, and Bitcoin in this respect is a little behind. How can we compete or equal to the dollar or gold.
The dollar backed by gold? The dollar is not backed by gold since the Nixon shock on 1971, dollars are only backed by the good faith on the credit worthiness of US government that is all, bitcoin is not backed by anything either but the fact that there is a limit to it make it valuable.
sr. member
Activity: 490
Merit: 250
June 07, 2017, 11:13:40 AM
Bitcoin better than money. I can use it to earn more bitcoin from trading or i exchange to fiat to add balance to my bank account.
full member
Activity: 156
Merit: 100
June 07, 2017, 10:38:15 AM
I will not actually call it until it is widely accepted as payment. Bitcoin is a technology but many call it money, this technology is very ueful to transact even to some countries.
newbie
Activity: 6
Merit: 0
June 07, 2017, 10:35:09 AM
I'm new here so don't really know the opinion here about this, but as far as I understand a currency and a commodity, I would say bitcoin is currently mostly used as a commodity to take benefit from it's fluctuation and as storage (similar to gold), I don't think it's considered a currency with how it is used now.
legendary
Activity: 1274
Merit: 1001
June 07, 2017, 10:22:56 AM
Bitcoin is both, money and investment that's why bitcoin is unique like no others
When bitcoin occur, it's really help me a lot for my life and my school  !
full member
Activity: 228
Merit: 101
June 07, 2017, 10:21:12 AM
Yes! Smiley
bitcoin is a virtual money and its different from the actual that we're using in the real world.Bitcoin price is more valuable rather than fiat because  as we can see right now bitcoin price is rising or extending upward exactly from its demand.
sr. member
Activity: 2828
Merit: 344
win lambo...
June 07, 2017, 09:01:09 AM
Bitcoin may not be exactly termed or known as money,but it is a source of money,it is an intangible asset for any person but not a fictitious asset by any chance. It can be an important source of income for a person as it could help him in his difficult times,so bitcoin may not be technically termed as "money", but a virtual currency applicable for anyone.
Yes,i agree with you.Bitcoin may not be in the form of our money like peso or dollar,but it totally contributes to sustain our daily needs.It can be a source of income since it hepls us to have a healthy lifestyle or even a luxurious living.Therefore,bitcoin may be considered money as it vanishes poverty from all over the world.
sr. member
Activity: 1316
Merit: 356
June 07, 2017, 07:54:25 AM
bitcoin is money and not a commodity. for a generally accepted commodity is money.
my question what can money do that bitcoin can not do? Huh Huh Huh Huh Huh
Honestly, bitcoin is considered as a money but found only in network. It is called as crypto-currency. When using legal money, we can bought what we want in the marketplace in our country but bitcoin is not. And the advantage of bitcoin, we can earn profit just by holding it for a years because its price is moving fastly. In short, bitcoin is use for investing and trading.
full member
Activity: 484
Merit: 105
June 07, 2017, 07:21:30 AM
bitcoin is money and not a commodity. for a generally accepted commodity is money.
my question what can money do that bitcoin can not do? Huh Huh Huh Huh Huh
hero member
Activity: 980
Merit: 507
June 07, 2017, 07:13:26 AM
Bitcoin may not be exactly termed or known as money,but it is a source of money,it is an intangible asset for any person but not a fictitious asset by any chance. It can be an important source of income for a person as it could help him in his difficult times,so bitcoin may not be technically termed as "money", but a virtual currency applicable for anyone.
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