Is Bitcoin money? - page 113. | Bitcointalksearch.org

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: dothebeats on May 20, 2017, 01:13:11 PM

Quote from: wolfracer on May 20, 2017, 10:54:36 AM

Of course bitcoin is money, in fact it has his own market and cryptocurrency in the flow of his value always in the moved, i dont doubt that bitcoin have a place in the near future in the wolrd economy.

A staggering $29+ billion market cap asset surely would have something in the financial market in the near future. Also, did you know that Australia would be completely allowing bitcoin to co-exist with AUD as a formal currency and could be used without additional taxes (formerly they impose double taxes for bitcoins) and that is one giant step towards mass adoption and economic boom for bitcoin

I don't think it is a giant step at all

But price will certainly rise, on hype arising on the basis of Australia "allowing bitcoin to co-exist with AUD as a formal currency". Countries that are by far more powerful economically don't have this "double taxation" since long ago (on the Bitcoin timescale), but we didn't see a lot of "mass adoption and economic boom for bitcoin" that should have followed the abolition of Bitcoin taxes there:

Quote

Bitcoin and its alternatives can now be treated in the same way as traditional money, according to the European Court of Justice

So Australia is unlikely to change anything in this regard (apart from usual hype and hysteria, of course)

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Quote from: wolfracer on May 20, 2017, 10:54:36 AM

Of course bitcoin is money, in fact it has his own market and cryptocurrency in the flow of his value always in the moved, i dont doubt that bitcoin have a place in the near future in the wolrd economy.

A staggering $29+ billion market cap asset surely would have something in the financial market in the near future. Also, did you know that Australia would be completely allowing bitcoin to co-exist with AUD as a formal currency and could be used without additional taxes (formerly they impose double taxes for bitcoins) and that is one giant step towards mass adoption and economic boom for bitcoin.

dmamigo

sr. member

Activity: 1232

Merit: 250

Quote from: bettercrypto on May 20, 2017, 10:49:27 AM

There is no doubt that bitcoin is money. Countries had been recognizing it as money and some are planning to accept it as payment too. Even though there are some countries that are shutting their doors to bitcoin, they cannot reject the fact that bitcoin is used as mode of payment on different online stores.

Yes, though many doesn't accept Bitcoin personally and even few countries speculative against Bitcoin, still nobody cannot deny that it isn't a currency.
But beside currency it also act as an investment which confuses newbies. But the true fact is that its a currency and have brought ease in many peoples life.
Few countries are blocking and few are on hold, but I hope as more stores or service providers starts accepting Bitcoins, they will think of legalizing it.

wolfracer

full member

Activity: 294

Merit: 102

Of course bitcoin is money, in fact it has his own market and cryptocurrency in the flow of his value always in the moved, i dont doubt that bitcoin have a place in the near future in the wolrd economy.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

There is no doubt that bitcoin is money. Countries had been recognizing it as money and some are planning to accept it as payment too. Even though there are some countries that are shutting their doors to bitcoin, they cannot reject the fact that bitcoin is used as mode of payment on different online stores.

Chip-Dale

full member

Activity: 166

Merit: 100

Quote from: cotton ball on May 20, 2017, 10:39:32 AM

Quote from: just_Alice on May 20, 2017, 10:27:23 AM

Quote from: carriebee on May 20, 2017, 09:51:48 AM

Bitcoin is money for me because you can exchange it into fiat. Also even online bitcoin is indeed a money were theres some online store that accept bitcoin. Last, fast transactions when exchange into fiat.

Transactions are not fast lately unless you pay over $1 for a transaction. And if you can exchange something into fiat doesn't prove it is money. But nevertheless I think bitcoin is money because you can buy goods with it and you can pay with it for some services.

Bitcoin is virtual money with many users every day, I'm lucky because my country has a trading market and bitcoin exchange to simplify the process of bitcoin transactions to fiat. Pending transactions that occur due to the influence of high bitcoin prices so that users confuse between selling fast or saving it longer.

Once someone said something about this, so that Bitcoin could have his real coin and use it for real purposes by every person. Well, what then will the difference be between Bitcoin and real money. Bitcoin is a digital currency and can even be said to be a commodity through which to earn real money.

cotton ball

sr. member

Activity: 1288

Merit: 253

Quote from: just_Alice on May 20, 2017, 10:27:23 AM

Quote from: carriebee on May 20, 2017, 09:51:48 AM

Bitcoin is money for me because you can exchange it into fiat. Also even online bitcoin is indeed a money were theres some online store that accept bitcoin. Last, fast transactions when exchange into fiat.

Transactions are not fast lately unless you pay over $1 for a transaction. And if you can exchange something into fiat doesn't prove it is money. But nevertheless I think bitcoin is money because you can buy goods with it and you can pay with it for some services.

Bitcoin is virtual money with many users every day, I'm lucky because my country has a trading market and bitcoin exchange to simplify the process of bitcoin transactions to fiat. Pending transactions that occur due to the influence of high bitcoin prices so that users confuse between selling fast or saving it longer.

just_Alice

hero member

Activity: 1274

Merit: 622

Quote from: carriebee on May 20, 2017, 09:51:48 AM

Bitcoin is money for me because you can exchange it into fiat. Also even online bitcoin is indeed a money were theres some online store that accept bitcoin. Last, fast transactions when exchange into fiat.

Transactions are not fast lately unless you pay over $1 for a transaction. And if you can exchange something into fiat doesn't prove it is money. But nevertheless I think bitcoin is money because you can buy goods with it and you can pay with it for some services.

panganib999

hero member

Activity: 1750

Merit: 589

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.

In the point that bitcoin does have a price or value it is relatively a money. But I also agree on the point of view that some sees bitcoin as form of a new kind of money. Bitcoin does have a value and price that could use on different transaction but the way we can used bitcoin is way different compare to fiat or the paper money. Because bitcoin not like the fiat is not tangible so people or the community of bitcoin do their transaction with the power of wallet. It can be online wallet, application wallet or depends on how you are going to used your bitcoin. And as a part of the technology the price of bitcoin changes constantly following the principle of law of price and demand.

carriebee

sr. member

Activity: 1148

Merit: 251

Bitcoin is money for me because you can exchange it into fiat. Also even online bitcoin is indeed a money were theres some online store that accept bitcoin. Last, fast transactions when exchange into fiat.

bitbob82

hero member

Activity: 630

Merit: 500

Quote from: shadowdio on May 20, 2017, 01:23:29 AM

for me bitcoin is money its like a foriegn money that you can exchange it into local money, 7/11 accepts bitcoin in our country so you can buy using bitcoin.

yes there is no doubt about that bitcoin is money, in fact bitcoin can be use as for shopping online, while in some place it can also be use as in local shops for shopping without changing it in to local currency, actually in such area where the usrs of bitcoin are more there they have the facilities to use bitcoin for shopping without changing it into local currency.

btc_angela

hero member

Activity: 2660

Merit: 551

Bitcoin for me is more of a commodity before, but now its becoming similar to money. Specially a country like Japan considered it as legal tender. So you can used it like money itself. But for most of us, to maximize the used of bitcoin, we have to convert to fiat first. So for now, only Japanese people can truly say that bitcoin is now money because its been legalized there.

kpcian

hero member

Activity: 826

Merit: 529

From my perspective, I would like to call it as a money though it's virtual money.
Virtual money is also called money, it can be transferred in to money, it has value. Now a days it's getting powerful currency, Bitcoin itself can be used in selling and buying. So we must say that Bitcoin is a money.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: King Sastro on May 20, 2017, 12:53:42 AM

Yeah right, I will tell everyone that bitcoin is money because with bitcoin can we do any better and faster than real money. bitcoin is better than real money because every transaction is secure, and cheaper.

Yeah, bitcoin is better than real money in some instances but not all the time bitcoin is still better than real money because bitcoin is just another payment system and people is just using bitcoin because of its faster and cheaper fees but in terms of daily usage and the common usage will stick to using fiat currencies that we already been using since from the start.

SingAlong

full member

Activity: 294

Merit: 100

Quote from: vasrasus on May 19, 2017, 11:57:51 PM

Quote from: Napole0n on May 19, 2017, 11:13:12 PM

Quote from: shine1123 on May 18, 2017, 07:33:19 AM

For me yes, bitcoin is a money. Because i can earn money with bitcoin, bitcoin is like my second job though. And yes, you also can use bitcoin as the payment too, it works like money.

Yes I agree, and of course, in fact we should honestly say bitcoin better than money, because its value is on the rise so it looks very favorable.

Yup ,the fact that its value increasing unexpectedly just by holding it is alot better than money or cash.

In other words, Bitcoin works like money but not all considered as a money especially when we look up in the respective laws of our country which defines money in various ways so that's why some consider it as a commodity or asset rather than money.

Bitcoin and fiat have its own characteristics. Of course we know what fiat is and its scopes and limitations so I will focus my lens in Bitcoin. Bitcoin is a cryptocurrency that will really shape the world into a new form together with its edge and potentials.It is decentralize as we know and well distributed to the people all around the world. Its a convenient thing to use and a get away with the old banking system. Also it is impossible to fake a Bitcoin unlike fiat and it is secure. Also the volatility of Bitcoin is what makes its users excite and earn a profit from it. In conclusion, Bitcoin is an opportunity that everyone can grab as long as you have a gadget to connect to internet then you are good to go.

shadowdio

sr. member

Activity: 1876

Merit: 289

Zawardo

for me bitcoin is money its like a foriegn money that you can exchange it into local money, 7/11 accepts bitcoin in our country so you can buy using bitcoin.

King Sastro

sr. member

Activity: 630

Merit: 251

Yeah right, I will tell everyone that bitcoin is money because with bitcoin can we do any better and faster than real money. bitcoin is better than real money because every transaction is secure, and cheaper.

Sijanbd

newbie

Activity: 6

Merit: 0

Quote from: Babylon on September 22, 2010, 10:41:05 PM

I do not consider gold to be money. You can't go and buy most goods and services with gold. Gold is a commodity, dollars are money.

Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.

Dollar Is Currency.. Not Money.
Bitcoin Is My Money. Because Bitcoin Give me Dollar. This Is My Second Job

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: mad3 on May 18, 2017, 07:09:21 AM

I do not consider gold to be money. You can't go and buy most goods and services with gold. Gold is a commodity, dollars are money. Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.

it doesn't make sense what you say, bitcoin have nothing to do with paypal, paypal is a trusted tthird party that function as an escrow basically, bitcoin is an untrusted payment system

if you want an example how it would look to have paypal in the bitcoin world, bitcoin is the money paypal is the escrow, bitcoin is no different than electronic cash, i would compare to that, "virtual curreny" is just that...

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Yes because it can sustain our basic needs for living.It can also be a source of income for us.Bitcoin is money since it is capable of providing us the things that we are wishing to be in our possession.

Topic: Is Bitcoin money? - page 113. (Read 112172 times)