Is Bitcoin money? - page 107. | Bitcointalksearch.org

brokens

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Do not ever be embarrassed to ask wheter is bitcoin can make money, it's that sure.

Cryptocurrency is eye money of bitcoin which is almost in use in the world for as a the place money search for the people unemployed or not job,

In this modern era money can generated through the internet one of them is from bitcoin,
currently bitcoin is my side search.

PacePay

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Quote from: lisa255 on June 05, 2017, 04:51:44 AM

Quote from: mrfreezeh on June 05, 2017, 04:21:25 AM

a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

Crypto currency is not as popular as we would like. Some people use it as money and are therefore called money. But I think that this is not just money. This is the payment system and the way of investing

Bitcoin is actually the money and invented to be used as money for internet but as the price of bitcoin is in fluctuations so the investors are also using this currency as the source of their trade earning. That is why it is also investment.

deisik

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Quote from: pisston on June 05, 2017, 03:02:48 PM

Quote from: deisik on June 05, 2017, 02:28:52 PM

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

I don't quite understand what you mean by "real money"

If you mean by that what is called a hard currency, i.e. a currency backed up by some valuable asset (say, gold), then Bitcoin cannot indeed be equaled to this kind of money. But, on the other hand, neither can dollars, euro, or whatever currencies which are in circulation today. If you are going to say that today's currencies are not money (since they are not backed up by any specific asset), then I can't possibly agree with this claim. Money is what money does, certainly not if it is backed up by something or anything at all

Intersan

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Quote from: Gavin Andresen on September 21, 2010, 12:41:46 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.

I’m too, I believe with your statement.

Other depends money in the Webster’s, Wikipedia and etc. This all correct, although for me bitcoin is money, not actually money but after you exchange to dollar or local currency (it will use to buy such things). How could you explain that this is not money while you are wasting some time to generate bitcoin. Like others, this crypto-currency also used to buy some stuffs, used in business and other ways to earn this.

They don’t believe because of the certificate that will prove of money, it just a paper, they don’t exist in this world and become popular to other if they have no uses/ can used to other transactions.

How about the credit/debit card? It has same aspect, it save digit, and then it generates money if you withdraw the saving amount. And with the help of any kind of wallet you can convert to local currency and generate also of money in bitcoin.

pisston

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Quote from: deisik on June 05, 2017, 02:28:52 PM

Quote from: gamerfan on June 05, 2017, 01:07:47 PM

Quote from: erickkyut on June 05, 2017, 11:25:13 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.

deisik

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Quote from: gamerfan on June 05, 2017, 01:07:47 PM

Quote from: erickkyut on June 05, 2017, 11:25:13 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

phr0stbyt3

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Yes it surely is , you can't call it cash fully it can be a digital cash for a cashless economy.
The reason for this is many countries have started adopting it as a part of their currency like japan , now Australia and then their are rumours even russia is going to do that soon.
If not bitcoin in future altcoins will surely circulate in a economy and eth contracts surely feels future

Himanshu111

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Actually Bitcoin is not money. It's like a commodity which has value like gold. Gold is not money but it can be traded for money. Same is for bitcoin. Bitcoin can be traded for actual paper currencies..

gamerfan

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BUY BITCOIN WITH PAYPAL AND CREDIT CARDS

Quote from: erickkyut on June 05, 2017, 11:25:13 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.

erickkyut

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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.

De Suga09

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Yes it is.Think about it you can transfer money,You can earn money,You can save money,And all of this is related in money and also they are crypto currency.Just like 1 bitcoin if you change that it is a money so definitely it is a money

kpcian

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Why not...?.
Definitely bitcoin is a kind of money, it is used to meet up the function of money, like payment, saving, investment, purchasing food, buying clothes and so on.in recent times, many countries have started thinking to give approval as a currency in their territory so it will be used as a money..

minizi99

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Quote from: GideonGono on June 05, 2017, 05:04:18 AM

Quote from: lisa255 on June 05, 2017, 04:51:44 AM

Quote from: mrfreezeh on June 05, 2017, 04:21:25 AM

a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

Crypto currency is not as popular as we would like. Some people use it as money and are therefore called money. But I think that this is not just money. This is the payment system and the way of investing

So we can say that it works like money but not considered as money. Most, especially the judge or lawyers, would consider it as a commodity or asset. But in Japan it is considered as money and has been legalized also Australia will follow and will start to use bitcoin as money next month. Though there is not that much to argue about as long as it helps you and can spend it so these things are least of the priority.

Many people call bitcoin virtual money. And they use bitcoin or other alternative coins for purchases only. Therefore, speaking simplistically, we can say that bitcoin is money

GideonGono

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Quote from: lisa255 on June 05, 2017, 04:51:44 AM

Quote from: mrfreezeh on June 05, 2017, 04:21:25 AM

a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

Crypto currency is not as popular as we would like. Some people use it as money and are therefore called money. But I think that this is not just money. This is the payment system and the way of investing

So we can say that it works like money but not considered as money. Most, especially the judge or lawyers, would consider it as a commodity or asset. But in Japan it is considered as money and has been legalized also Australia will follow and will start to use bitcoin as money next month. Though there is not that much to argue about as long as it helps you and can spend it so these things are least of the priority.

Duzter

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Quote from: lisa255 on June 05, 2017, 04:51:44 AM

Quote from: mrfreezeh on June 05, 2017, 04:21:25 AM

a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

Crypto currency is not as popular as we would like. Some people use it as money and are therefore called money. But I think that this is not just money. This is the payment system and the way of investing

This is a payment system that has got used in different forms based on the requirement. So some prefer it as an currency as it can be converted to.any of the traditional currency. Others gives importance as an investment because of the growth it provides within time intervals.

lisa255

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Quote from: mrfreezeh on June 05, 2017, 04:21:25 AM

a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

Crypto currency is not as popular as we would like. Some people use it as money and are therefore called money. But I think that this is not just money. This is the payment system and the way of investing

mrfreezeh

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a funny question!! Why not, it's crypto-currency. And we still use it to buy stuff and exchange to real money to use in real life... And it's very popular on the world at this time, too

fujyo86

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Bitcoin is money also an investment instrument that provides tremendous profit growth this year. I still remember when buying 3btc not up to US$1000 and now it has more than US$6000, a fantastic advantage for a small investor (like me).

Victorycoin

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Quote from: DoublerHunter on June 02, 2017, 07:29:33 AM

Yeah the price is the only concern in bitcoin because it is not fixed so there is a possibility for us to lose money anytime because the market is not centralized so the price is only depending on the demand in the market but it is also a good characteristic especially for the traders because we can take advantage of that to make money.

No price isn't and cannot be the only attraction Bitcoin holds as money. To enthusiasts, the high price is actually a bonus which can be off tomorrow, but nevertheless stirred right back up by those attributes that makes Bitcoin high in demand. Furthermore, centralization holds no guarantee that any form of money would be stable else the dollar for instance won't be in half the mess it is in today or its real value always under attack by inflation.

zidanw

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Quote from: bravehearth0319 on June 04, 2017, 04:42:33 AM

Yes, bitcoin is really a money that I can considered because once it is convertible into cash it means its money.
and what is good about it in any country it can convert into a real cash depending on the cash currency of the nations.

I think if it can be convert into cash does not mean that is money, for example gold or valuable and unique goods can be exchanged into money but they not money.
I'd rather think that bitcoin is a digitalcurrency or a valuable digital item if it's like gold not money.

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