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Topic: Is Bitcoin money? - page 131. (Read 112173 times)

newbie
Activity: 21
Merit: 0
April 17, 2017, 07:52:36 AM
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.
You must be dreaming, it's impossible for bitcoin or any crypto currency to become the main currency for all countries.
As long as there are people who govern this world, the centralized world will prevail over the decentralized.
Not agree with you. What's the globalization? The government can and wants to be able to manage money. Periodically, they trigger the inflation and take money from people, then they start deflation, and again Rob the people. With bitcoin this is not possible. Why is it the government?
newbie
Activity: 29
Merit: 0
April 17, 2017, 07:44:16 AM
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.
You must be dreaming, it's impossible for bitcoin or any crypto currency to become the main currency for all countries.
As long as there are people who govern this world, the centralized world will prevail over the decentralized.

I am trying to wrap my head around this thought as well.
If bitcoin can become a mainstream currency.

In order to do so, the price fluctuations MUST stabilize.

This means, that bitcoin cannot be hoarded by a handful of people or groups but must be more evenly distributed.

For example...say every person in the world had some fraction of bitcoin, this would lead to the ultimate stability.
One of the first steps in accomplishing this is for countries to recognize bitcoin, like japan. Once people can start to buy goods and services with btc on a larger scale, it will normalize the pricing.

The fact that some shadowy figure named satoshi nakamoto and chinese miners hoard tons of currency is a huge negative to bitcoins possible mainstream adoption.

newbie
Activity: 29
Merit: 0
April 17, 2017, 07:37:07 AM
Put down the dictionary guys.

I skimmed through the replies and saw OPs post and there seems to be some confusion of what "money" is.
There were cultures in the past that would use seashells as "money".

Money is basically an IOU that is communally agreed upon.

By this definition, yes...bitcoin is money.


I am somewhat new to bitcoin but understand its unsavory appeal of groups exchanging it to fund illegal activities.

By this use alone, this is money.
hero member
Activity: 2814
Merit: 576
April 17, 2017, 07:22:22 AM
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.
You must be dreaming, it's impossible for bitcoin or any crypto currency to become the main currency for all countries.
As long as there are people who govern this world, the centralized world will prevail over the decentralized.
hero member
Activity: 896
Merit: 500
April 17, 2017, 07:21:03 AM
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.
It is not only a new generation currency, it is not only an additional currency but it can also be the global currency of the world. We absolutely have a basis for believing it. The long-term existence of bitcoin has shown us its superior power over all other currencies. Even, bitcoin was once gold. That is the most obvious example.
member
Activity: 116
Merit: 100
April 17, 2017, 07:13:42 AM
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.
hero member
Activity: 798
Merit: 500
April 17, 2017, 07:11:42 AM
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.
hero member
Activity: 924
Merit: 500
April 17, 2017, 06:47:58 AM
Yet, we can say that the money if there is already a country that officially use the bitcoin, and use of the bitcoin still not more than 3% of the total population of the Earth.

Actually there is. Japan already accepts bitcoin as a form of payment in many stores there. They even approved a bill for that which was approved last April 1.

And for the record, even though no country uses bitcoin officially, as long as you can use it as payment you can say that bitcoin is a money. That is because bitcoin hold a value that is directly l  convertible to fiat (money) so basically, bitcoin is a money.
My country philippines accept bitcoin as payment I think last month ago or two months ago the BSP or the banko central of philippines released an article about bitcoin and the details is "bitcoin as payment". Its not a problem the total population of bitcoin user it is less or more. The important is bitcoin gives opportunity to us to earn money . And thats good to say bitcoin is money because if earn bitcoin I also earn money.
its very good news that bitcoin now accepting in some country slowly slowly as payment method and i hope bitcoin will be acceptable sooner around the world.
That's a great news actually. Accepting bitcoin by the masses in each country sounds good news to each every bitcoin fanatic all around the world. No wonder a years from now bitcoin will really become the new currency in the entire planet.
hero member
Activity: 752
Merit: 500
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April 17, 2017, 05:51:07 AM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
I agreed on this matter, as long as bitcoin being used as payment in online it is considered as money like usd, euro and ¥ which means it shows bitcoin is like a real currency/money.

The only difference is that we cannot hold bitcoins physically and apart from that there is not much difference between bitcoins and real money as we can spend it anywhere we want like real money so bitcoin is definitely a money to me.
newbie
Activity: 32
Merit: 0
April 17, 2017, 05:50:24 AM
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.

The main functions of money are distinguished as:
- a medium of exchange; a unit of account
- a store of value
(- a standard of deferred payment)

Any item or verifiable record that fulfills these functions can be considered as money.


I would say bitcoin is money according to the definition, though I know there are more definitions being used such as it being 'the medium of exchange defined by a government.'


The real question is though: Does it matter whether or not bitcoin is 'money'?
hero member
Activity: 518
Merit: 500
April 17, 2017, 05:38:25 AM
bitcoins are just like shells or furs in ancient times - of course they are not banknotes or coins, but it's money, because they have all the functions of money

Partly of what you've said is right.  Bitcoin is a digital currency, but literally it is not money. Bitcoin have all the functions of money because of the benefits what we receive. It helps us to do easy things.
hero member
Activity: 924
Merit: 500
April 17, 2017, 04:53:22 AM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
I agreed on this matter, as long as bitcoin being used as payment in online it is considered as money like usd, euro and ¥ which means it shows bitcoin is like a real currency/money.
sr. member
Activity: 553
Merit: 250
April 17, 2017, 04:19:28 AM
Just keep on believing with bitcoin and you will gain more money, it is the money of internet and the future money indeed. Users, earners or anybody else that treats BTC as money are just thinking practically.
Yeah it may not be popular as paper money but is already popular virtually and currently using of the entire globe.
I am not sure bitcoin is future money because until now not accepted by the government, i think bitcoin always like that, go up and down same like another commodities such as bronze, gold, stocks and many more.
sr. member
Activity: 504
Merit: 250
April 17, 2017, 04:01:41 AM
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
hero member
Activity: 2590
Merit: 644
April 17, 2017, 03:40:43 AM
Just keep on believing with bitcoin and you will gain more money, it is the money of internet and the future money indeed. Users, earners or anybody else that treats BTC as money are just thinking practically.
Yeah it may not be popular as paper money but is already popular virtually and currently using of the entire globe.
Bitcoin is getting more and more popularity for this past few months and that is a good sign for bitcoin that it is gaining trust and building reputation in the market. I believe that bitcoin will become one of the most popular and most expensive currency around the globe when the people starts using it and if all the country adopted it then bitcoin will become or treated just like the paper money.
hero member
Activity: 2464
Merit: 594
April 17, 2017, 03:32:23 AM
Just keep on believing with bitcoin and you will gain more money, it is the money of internet and the future money indeed. Users, earners or anybody else that treats BTC as money are just thinking practically.
Yeah it may not be popular as paper money but is already popular virtually and currently using of the entire globe.
newbie
Activity: 12
Merit: 0
April 17, 2017, 03:20:26 AM
Bitcoin is money, and virtual money, which is the future of currency. I believe in btc.
hero member
Activity: 2814
Merit: 576
April 17, 2017, 03:19:04 AM
Bitcoin is an additional currency in many countries. Paper money is mainly used where there are problems with electricity or the Internet in less developed countries.
They can actually co exist with each other, they do have different functions as paper money is centralized and produce by central bank.
Bitcoin is online currency but it is money for us but it will never be as popular as paper money.
full member
Activity: 477
Merit: 100
April 17, 2017, 03:09:54 AM
Bitcoin is an additional currency in many countries. Paper money is mainly used where there are problems with electricity or the Internet in less developed countries.
If People more like bitcoin, probably someday bitcoin will be mainly used for daily life although Government is ban it. the price of bitcoin is tend to rise so many people pretend it such as investment too.
member
Activity: 96
Merit: 10
April 17, 2017, 02:02:56 AM
Bitcoin is an additional currency in many countries. Paper money is mainly used where there are problems with electricity or the Internet in less developed countries.
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