Topic: Is Bitcoin money? - page 130. (Read 112169 times)
Bitcoin is more of an asset then money. It's better to spread your money over assets anyway. It doesn't matter what it is as long as it's worth something and has values then maybe if you make good choices you can even profit over it.
Money is basically an IOU that is communally agreed upon
I'm curious how many people got confused after reading this sentence
But you are welcome to explain who owes whom exactly since IOU obviously stands for "I owe you", though I don't think that I for one owe you anything. In the same way, if someone is paying you with money which is an IOU, does it mean that he owes you anything? I don't think so. But then again, you are welcome to explain in simple terms how money is "basically an IOU". But please try making your explanation comprehensible, show us that you understand yourself what money actually means
Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.
precisely bitcoin is a valuable item. because with bitcoin we can perform various financial transactions. similar to its role as a currency, bitcoin now will continue to try to become a currency that is recognized by the whole world. 
Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.
I need to disagree with you, bitcoin is not a money, the same with gold, they may be the same but not as money, they are assets, they are being sold or saved to earn money. Gold may be used to pay in the past, but not today. And you can say it is similar to precious metals, bitcoin is digital currency.
Bitcoin is money just as much as gold is. It's similar to precious metals. If there was no market for them they would be worth nothing but there's a huge market for cryptocurrencies AND precious metals. In my opinion bitcoin will do nothing but rise in price over time and is very precious "money" to hold indeed.
In my view, the question " is Bitcoin money ? " same like this question " is Gold money ? ".
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
There is a great difference between gold and bitcoin as I have not saw any shop which have written the price of product in terms of gold while there are a number of shops in which the price is written on the product in terms of bitcoin and people accept. Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
bitcoin is an innovative payment network and a new kind of money. but is it money? some call it a new form of virtual currency. others have lauded it as a new type of payment system. so what is it? and why does it matter?
what we call it may not matter much in casual conversation, but how it is categorized does have significant implications when it comes to regulation. If it is “money” or “currency,” then existing laws and regulations may apply to businesses and consumers who issue, sell, or transact with bitcoin. from banking laws to anti-money-laundering laws and tax regulations—whether these laws apply to the use of bitcoin depends on how bitcoin is classified.
at present there is no consensus as to what we should call bitcoin or how it should be defined for purposes of applying legal rules. courts and regulators are coming up with different theories and classifications as a way of figuring out whether this new product/payment vehicle is or is not covered by different laws.but it is still unclear what is happening right now.
what we call it may not matter much in casual conversation, but how it is categorized does have significant implications when it comes to regulation. If it is “money” or “currency,” then existing laws and regulations may apply to businesses and consumers who issue, sell, or transact with bitcoin. from banking laws to anti-money-laundering laws and tax regulations—whether these laws apply to the use of bitcoin depends on how bitcoin is classified.
at present there is no consensus as to what we should call bitcoin or how it should be defined for purposes of applying legal rules. courts and regulators are coming up with different theories and classifications as a way of figuring out whether this new product/payment vehicle is or is not covered by different laws.but it is still unclear what is happening right now.
Each has their own thinking and own view on bitcoin. Some say it's a ponzi, but they still use. Some say it's a threat to the economic system, but they use as an investment to benefit out of it. Banks consider it as an technology and have started to adopt it fearing the goodness in it. So if you think it as money it is, as well if you think it's an investment then it is an investment. Nothing wrong in it.
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows.Bitcoin is not only money, but also a payment system. Bitcoin can not be compared with Fiat. It has many advantages. Bitcoin is recognized as money in the bitcoin community
Money is basically an IOU that is communally agreed upon
I'm curious how many people got confused after reading this sentence
But you are welcome to explain who owes whom exactly since IOU obviously stands for "I owe you", though I don't think that I for one owe you anything. In the same way, if someone is paying you with money which is an IOU, does it mean that he owes you anything? I don't think so. But then again, you are welcome to explain in simple terms how money is "basically an IOU". But please try making your explanation comprehensible, show us that you understand yourself what money actually means
Each has their own thinking and own view on bitcoin. Some say it's a ponzi, but they still use. Some say it's a threat to the economic system, but they use as an investment to benefit out of it. Banks consider it as an technology and have started to adopt it fearing the goodness in it. So if you think it as money it is, as well if you think it's an investment then it is an investment. Nothing wrong in it.
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows. hero member
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In my view, the question " is Bitcoin money ? " same like this question " is Gold money ? ".
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
If you can exchange to real money then its also an form of money but gold cannot be used for online shopping like bitcoin and even bitcoin can be exchanged directly to your bank account so bitcoin holds more features to treat it a money in compare to gold.
In my view, the question " is Bitcoin money ? " same like this question " is Gold money ? ".
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
Yes gold and Bitcoin is a treasure of precious that can serve as a means of payment,
But both is not real money. Bitcoin and gold has value precious which we can exchange it for real money.
Bitcoin is a money but in a digital form as you can exchange it to real money and you can also buy goods from it moreover you can also receive and send funds across the globe which puts it in the same category of real money.
Bitcoin is still difficult to call the currency. This means of payment. As cheques. They can pay for goods, but to call their currency is not possible.
It is currency (money).
I dont think you have an understanding of what currency is
If lets say 10 friends agree that chicken bones are currency to them and they agree to exchange it for services, then that is currency/money.
Bitcoin is money / currency because someone out there will give you something for it.
This is not to be confused with bartering
Bitcoin is still difficult to call the currency. This means of payment. As cheques. They can pay for goods, but to call their currency is not possible.
Yes, this is money of a new generation. Of course, they will not become the main single currency in all countries, but they will be a wonderful additional currency.
Exactly, bitcoin is a completely new generation of digital money and new technology based money completely integrated with digital currency, in some countries bitcoin is completely acceptable as a payment method, it indicates that really bitcoin is already treated as money.
Bitcoin is both right now, a form of investment, and a possible form of payment (so money).
Unfortunatelly I see the trend that more and more coins are used as investment or for trading into other crypto currencies.
I do not think that is a good developement, because it seperates bitcoin from the rest of the economy.
My hopes are that price becomes kind of stable and people use it more as payment again.
People are free to use Bitcoin the way they want. I can't blame people for using Bitcoin as an investment option as it lends itself perfectly for that due to its speculative nature.Unfortunatelly I see the trend that more and more coins are used as investment or for trading into other crypto currencies.
I do not think that is a good developement, because it seperates bitcoin from the rest of the economy.
My hopes are that price becomes kind of stable and people use it more as payment again.
Other than that, people have no real desire to use Bitcoin as currency since fiat is doing its job perfectly fine. There is absolutely no reason for people to ditch fiat for Bitcoin when it comes to buying goods.
Compared to fiat, Bitcoin is slow (confirmation wise), and it's expensive in use due to the fees that are likely to increase further in the coming years. Pools will be depending on fee income more and more as block rewards get halved.
I think bitcoin currency of future, as a digital currency that has a higher value than real currency, and has a function that is equivalent to official currency
Bitcoin is defiantly the money, but these days people use it as a commodity as they compare the price of Bitcoins to USD. The same thing we use to calculate the value of Gold with the Dollars.The fact is more people are treating it as investment instead of currency but if we want to see bitcoin as more stronger in future then we should use it as a currency and should spend it whenever possible to help the circulation of coins.
I don't think that will be the real scenario, I still believe more people are spending than investing.
Bitcoin is both right now, a form of investment, and a possible form of payment (so money).
Unfortunatelly I see the trend that more and more coins are used as investment or for trading into other crypto currencies.
I do not think that is a good developement, because it seperates bitcoin from the rest of the economy.
My hopes are that price becomes kind of stable and people use it more as payment again.
I think bitcoin currency of future, as a digital currency that has a higher value than real currency, and has a function that is equivalent to official currency
Bitcoin is defiantly the money, but these days people use it as a commodity as they compare the price of Bitcoins to USD. The same thing we use to calculate the value of Gold with the Dollars.The fact is more people are treating it as investment instead of currency but if we want to see bitcoin as more stronger in future then we should use it as a currency and should spend it whenever possible to help the circulation of coins.
I don't think that will be the real scenario, I still believe more people are spending than investing.
I think bitcoin currency of future, as a digital currency that has a higher value than real currency, and has a function that is equivalent to official currency
Bitcoin is defiantly the money, but these days people use it as a commodity as they compare the price of Bitcoins to USD. The same thing we use to calculate the value of Gold with the Dollars.The fact is more people are treating it as investment instead of currency but if we want to see bitcoin as more stronger in future then we should use it as a currency and should spend it whenever possible to help the circulation of coins.
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