Yes i consider bitcoin as a real money even bitcoin is not accepted by the government, it is still can be used to pay all your expenses at your home. Bitcoin has been a good advantage to me when i started to use bitcoin because i have bought many things with bitcoin.
According to the definition money in books it is a medium of exchange for services and goods. In the light of this definition we come to know that yes Bitcoin is money. There are several forms of money such as paper money or metallic coins money. The bitcoin could be said as the new form of money through which we buy and purchase goods and services. Now if some people don’t agree with it, they surely don’t know what really money is. 
Topic: Is Bitcoin money? - page 127. (Read 112169 times)
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?
yes because it has a value as well, and other coins are converting on it. it has also the highest among other currency i think it is also a money as long as we may spend it in our everyday needs. 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.
[/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?
Yes i consider bitcoin as a real money even bitcoin is not accepted by the government, it is still can be used to pay all your expenses at your home. Bitcoin has been a good advantage to me when i started to use bitcoin because i have bought many things with bitcoin.
Generally, money is anything that is used in the exchange of goods and services. And if Bitcoin can be used in this regard, then it is MONEY. It doesn't really matter whether all countries of the world accepts it or not.
After all, the pounds sterling is higher than the dollar in value but it doesn't have the same international recognition as the dollar. But both are still Money. So, Bitcoin is money too.
After all, the pounds sterling is higher than the dollar in value but it doesn't have the same international recognition as the dollar. But both are still Money. So, Bitcoin is money too.
As long as people give value to bitcoin it is money
This is a sweeping generalization (and as meaningless at that)
People give value to many things, but somehow apples and oranges don't become money even if people value these fruits high. Obviously, there are quite a few prerequisites which should be present to make something into money. Bitcoin has them but it lacks usage as a currency. This is the ultimate factor which decides whether something is money or not. So far people mostly value Bitcoin for its capacity to bring in profits from speculations, i.e. not from its usefulness (utility) in the exchange of goods (that's what money is basically used for)
Bitcoins has value on exchange and many online merchants out in the internet and physical world now.Bitcoins is being accepted as payment processor in many different shops now,therefore we can consider bitcoins as a real money
It is important how we define the concepts.
Money is a change tool. We buy goods and services for money.
Bitcoin is also a change tool. We can buy goods and services with Bitcoin.
Bitcoin = Money
If that is you definition then I guess that is right bitcoin is money but an internet money, it is different from the money that we use Money is a change tool. We buy goods and services for money.
Bitcoin is also a change tool. We can buy goods and services with Bitcoin.
Bitcoin = Money
which is fiat. Bitcoin is a tool for online transaction and because of this tool we have a faster transaction which makes it very valuable
Yes i definitely agree that bitcoin is money because we use bitcoin to buy the stuff that we need and we wanted mostly, and sometimes some people use bitcoin to pay their bills on their house. But i ussually used bitcoin to purchase in my game. Bitcoin is a real money because we use it to purchase something if we can't use it to purchase then it is not a money.
Yes, there's no doubt that bitcoin is a real money itself. And we aren't going to be here if bitcoin doesn't have a real value of money or it doesn't have to be considered as money. But because it is a real money we are in it and treating it also as an investment while we are using it for trading and buying other stuffs online.
I guess since its creation too, bitcoin has been used as a medium of exchange in darkweb. although it darkweb, but still inside their trade, and they use bitcoin as its currency. so, I guess, without knowing it, we all have to use bitcoin as money on the internet.In darkweb / deep web bitcoin is their main currency there. But the good thing about bitcoin is that we can use it not just for purchasing stuffs or simply using it as money. Because it can be our very own investment, while using it as money. It's up to you whether you want to store it or keep on using it because it really has a lot of feature.
It is important how we define the concepts.
Money is a change tool. We buy goods and services for money.
Bitcoin is also a change tool. We can buy goods and services with Bitcoin.
Bitcoin = Money
If that is you definition then I guess that is right bitcoin is money but an internet money, it is different from the money that we use Money is a change tool. We buy goods and services for money.
Bitcoin is also a change tool. We can buy goods and services with Bitcoin.
Bitcoin = Money
which is fiat. Bitcoin is a tool for online transaction and because of this tool we have a faster transaction which makes it very valuable
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Yes. We consider bitcoin as a money because we used bitcoin as a medium of exchange. Just like the real money we use bitcoin to buy things, invest in business and go somewhere what we want. Bitcoin is considered as a money yet it is not real but a digital money that can use as a alternative money and many people nowadays are using it to have medium exchange in different aspect like buying, selling and investing.
I would have to say that Bitcoin is definitely money. I use it to buy games and other things online. Just like paypal.
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Bingo!
For me, Yes I consider bitccoin as a money because we just like what it says we use it as a medium of exchange. Many people nowadays use this bitcoin to buy things online because it makes transactions more easier and faster. Bitcoin is used by many people as a money, an alternative money in real money because as we can see bitcoin value is more high than the real money. But bitcoin is eaened because of hardwork and intelligent just like the real one.
As long as people give value to bitcoin it is money.
No, Bitcoin is a currency used into digital world as payment to the digital or online services. But you can converted it into a real money, using the other banks that accept bitcoin as currency.
Lol, bitcoin is also a money which can only used in online transaction because it is digital currency but you are right that we can do covert it to fiat to spend in offline stores. Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
I agree. Anything that is used to earn something by buying it is money. Bitcoin is a money because it helps us in many ways such as buying stuffs. Although it is digital yet it still money that buy things and just like money bitcoin is earn with hardwork. Bitcoin today is consider a money to all of people just like me because it is used as a medium of exchange.
Bitcoin is definitely money, it fits the bill for all the characteristics that you will like from money and even better bitcoin has better characteristics than what you will expect from fiat or gold.
Yeah Its rate turned value compared with one ounce of gold at last month. Still there is less number of people been adopted bitcoin and less number people using it globally when compare with fiat currencies. I do not know, why government does not started accepting bitcoin as its have these much of potential with it. hope bitcoin will be centralized money soon everywhere.
No, Bitcoin is a currency used into digital world as payment to the digital or online services. But you can converted it into a real money, using the other banks that accept bitcoin as currency.
I think right now bitcoins are more of an asset then money. To me it doesn't matter what form my spending power is in wiether it's in gold bitcoins or sticks. I'm just concerned for the value and how much it will increase so I use Bitcoin as I believe it has the best value then any other form of asset.
Most of us here they are both the same, it is money and at the same time assets and investments. And that's our main reason why we are here, because of the value / price of bitcoin, if there's no value then we aren't going to be here. But because it has a very good value just like real money which we can spend so we are here.
It is illegal here in the US to deface, destroy and alter money
Also, i think the concept of fiat being an IOU is way above your head
Also, i think the concept of fiat being an IOU is way above your head
So you can't explain how the concept of fiat is related to an IOU
But somehow I'm not surprised. People which can't explain some concept in simple terms typically just don't understand it themselves, as simple as that. Regarding the US dollar specifically, it may be illegal to destroy, deface, and alter it as well as counterfeit it or whatever, but there is no Federal law that would demand any private business to accept dollars as a means of payment or even trade with you. In fact, any such business can just choose not to give a damn fuck about you. As I told you, go and read what the US Treasury department says on this issue. If you come to disagree, you may want to post a link to such a law
We love you, Murrica!
Don't waste your time responding to her. That's the only response she ever gives.
"i think the concept of FILL IN BLANK being FILL IN BLANK is way above your head"
Go look at her post history to find out. I'm calling "it" her because that's a stupid bitch trick.
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