Topic: Is Bitcoin money? - page 128. (Read 112172 times)
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.
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
So just like bitcoin it has value just like any other currency out there despite not having a physical form and qualifies to be real money.
Bitcoin is a crypto currency, you can consider it money to a certain extent, but at the end of the day it's not ACTUAL money, it's more something you invest in which can make you earn real money.
Investing in crypto currencies is like buying something relatively cheap and reselling it to make profit in my opinion.
Investing in crypto currencies is like buying something relatively cheap and reselling it to make profit in my opinion.
It IS money. If not, you can give your bitcoin to me. 
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
Tell that to Japanese
. How about having an effort to google search what money is then see how Bitcoin is doing at this point. Maybe you will be convinced that Bitcoin is money. When it is used as payment method and/or acknowledged by even a single country as money then it is really a real money.ya it is true that Bitcoin is a online web currency through which you can do all the things which you are doing through fiat currency. So it is called web currency which is good for online purchased and lot of other things can be done through bitcoins.
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
Tell that to Japanese
. How about having an effort to google search what money is then see how Bitcoin is doing at this point. Maybe you will be convinced that Bitcoin is money. When it is used as payment method and/or acknowledged by even a single country as money then it is really a real money. 
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!
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
I dont agree with your statement. Even if bitcoin is not used everywhere and not being accepted by all the govt. yet, this does not mean it is not a currency. If USD is used less, will you say it is not a currency
Bitcoin is a currency of course and no one can deny this fact
This is in fact debatable
As I would say in such cases, money is what money does. And does here refers to money being used as money. If something has all required qualities and prerequisites to be a currency (say, Bitcoin) and it was even conceived to be used as a currency, we still can't say that it is a currency. In other words, the primary criterion is usage, and alas, Bitcoin doesn't cut it quite well as a full-fledged currency. It is mostly used as a vehicle for speculation, and, what seems to be even more important here, most of its value comes from this usage specifically, not from using it as a means of payment or exchange, which is what makes something into money
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
If Bitcoin is accepted by a country, it will not be a non-centralized or uncontrolled system. Official money means that one country or a government can intervene in a marketplace, value of the currency etc etc. It is completely contrary from the manifesto of Bitcoin.
As per your concerns, there are a few things which I would like to make you clear.
Bitcoin, tbh, should really not be considered as money, but something that has been given a monetary value in terms of usage for anything from goods to services and as there is too much speculation in this, it can be termed as an "investment instrument" or "asset" or "stock" that gets traded for the purpose of making profits. Trust me, most people are in Bitcoins just to grow their capital, having more Bitcoins means having more "money" in your pockets due to its value, but still it cannot be termed as money.
Bitcoin, tbh, should really not be considered as money, but something that has been given a monetary value in terms of usage for anything from goods to services and as there is too much speculation in this, it can be termed as an "investment instrument" or "asset" or "stock" that gets traded for the purpose of making profits. Trust me, most people are in Bitcoins just to grow their capital, having more Bitcoins means having more "money" in your pockets due to its value, but still it cannot be termed as money.
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
I dont agree with your statement. Even if bitcoin is not used everywhere and not being accepted by all the govt. yet, this does not mean it is not a currency. If USD is used less, will you say it is not a currency
Bitcoin is a currency of course and no one can deny this fact.
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
I dont agree with your statement. Even if bitcoin is not used everywhere and not being accepted by all the govt. yet, this does not mean it is not a currency. If USD is used less, will you say it is not a currency
Bitcoin is a currency of course and no one can deny this fact.
Bitcoin really is money, because
1. Some people can -whatever u say- mine, produce Bitcoin, like money which has accepted by states, governments, state oriented organizations etc.
2. It has a value like normal currencies.
3. Many people use Bitcoin as an exchange tool.
4. Payments can be made through Bitcoin. For example, there are many famous websites which accepts Bitcoin and I learned that some restaurants accepts it also.
It is inevitable that Bitcoin would be a part of a monetary service or tool.
1. Some people can -whatever u say- mine, produce Bitcoin, like money which has accepted by states, governments, state oriented organizations etc.
2. It has a value like normal currencies.
3. Many people use Bitcoin as an exchange tool.
4. Payments can be made through Bitcoin. For example, there are many famous websites which accepts Bitcoin and I learned that some restaurants accepts it also.
It is inevitable that Bitcoin would be a part of a monetary service or tool.
Bitcoin is definitely money. You can use it to buy and sell items which definitely classifies it as money. Also, it is worth a lot of USD.
But Bitcoin is not like real money, Dollar etc. Bitcoin is not yet accepted in any country for a official money.
So, in my opinion, Bitcoin will be a real money when accepted soon as official money in our country in the future.
Bitcoin is a product that can be traded for good and services. Much the same as tulips, jewels, auto, silver, gold, orange juice, pretty much anything you can consider. But, can we think of it as money?
No, we can't. Bitcoin is a denominated commodity that is electronically tradable. It is not electronic dollars. It is more similar to digital gold or digital wheat for that matter. There are 21 million of them. Each can further be divided into 100,000,000 subsections (8 decimal places). That is 2,100,000,000,000,000 bitcoins, or 2.1 quadrillion pieces.
then can you buy a cup of coffee with a silver? you can buy t-shirt, laptop, house and almost anything with bitcoin. for me as long as it could be used to buy something then it's a money. bitcoin even more than just money, it's a revolutionary money that unusual but become popular nowadays as an investment but also a lot of people used it to shopping onlin , trade online etc.No, we can't. Bitcoin is a denominated commodity that is electronically tradable. It is not electronic dollars. It is more similar to digital gold or digital wheat for that matter. There are 21 million of them. Each can further be divided into 100,000,000 subsections (8 decimal places). That is 2,100,000,000,000,000 bitcoins, or 2.1 quadrillion pieces.
If bitcoin is the second choice of the people that means that it has not replaced fiat and fiat is still on the mainstream and people will use bitcoin as their secondary currency and even if bitcoin becomes more popular in future I don't think it can ever replace fiat.
Bitcoin isn't money unless the Government says it is. We would have have to wait till the Government approves Bitcoin.
This is partially true:
BTC IS money, to a small portion of the world.
In the US (where i live), it is NOT money (according to my govt)
Case in point:
Say i am a store owner and someone wants to buy a computer i have advertised for $1000, for $1000 in cash. I tell them no, gtfo. They can actually get various police / courts involved to enforce this
You claim to live in the US but you don't know the laws of your own country
I refer to specific laws regulating the trade and currency in which the trade should be made. The US dollar is legal tender in the US, but that just means that the government is obliged to accept the American dollars as a payment "for all debts, public charges, taxes, and dues". But that doesn't mean that you, as a private seller, can't refuse to have business with anyone (for example, if he wishes to pay you with dollars), and that basically means that the purchaser cannot call police to force you to accept payments in the US dollars
Now it is a piece of paper that is an IOU that the government says, "this is our property and we are giving it to you so you can purchase things in this country"
Which property is owed exactly, a piece of paper? And why should government owe you anything in the first place? Typically, it is you who owes them some amount of money, for example, taxes
Hmmmm...i dont think you know what youre talking about.
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
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
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
I think whatever the name is that important can be exchanged for money. like bitcoin is gold in the form of money.
Money is something generally accepted as a medium of exchange, a measure of value, or a means of payment. It can have different forms. Just as stone bracelets used to represent money back in ancient times why can't bitcoin serve as such?
And the same thing with the usual money or fiat that we are using for buying different things that we want and need. Bitcoin is considered as real money and there's no way that it can't be treated as money because we can't deny that it can be use for shopping online, for purchasing whatever we want to online.
There is no certainty that Bitcoin will overcome all the drama and succeed in the long run, but if there is one thing I can say for sure, it is that Bitcoin is more money than any other form of money I have ever seen.
Jump to: