Is Bitcoin money? - page 134. | Bitcointalksearch.org

cryp24x

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Quote from: MyIdeas on April 15, 2017, 04:02:01 PM

Bitcoin trade is allowed all over the world there is no any restriction on that and it is also used as a currency all over the world but for people private dealings not for state dealings and now only Japan have approved it as a currency for their state so the chances appeared that countries are accepting it.

This definition simply means Bitcoin is money. When it is accepted as method of payment for any goods, it is considered as money. Aside from Japan, there are lots of merchants around the world who accept Bitcoin as method of payment so I guess that is enough to say Bitcoin is money.

Nagadota

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Quote from: deisik on April 14, 2017, 07:22:45 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it

"Traditional fiat currency" has been a digital currency for decades already

If you refer to cash as "traditional fiat currency", then Bitcoin cannot possibly be a hybrid of these since Bitcoin, unlike fiat currencies, has nothing to do with cash altogether. I'd rather consider it a step ahead from fiat currencies as such (both "traditional" and digital) but certainly not in terms of how digital it is. Fiat currencies are as digital as Bitcoin can ever be (but not only digital, of course). Other than that, there is nothing extraordinary in using fiat currencies as commodities, either. That's what currency markets are basically involved in (i.e. in trading money as commodity)

Bitcoin has a relation to cash in that it's backed by legitimate value. Cash is often backed by gold or has been in the past and is related to it, whereas Bitcoin backs itself while being held by individuals in their own homes like cash is.

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Quote from: fullypak on April 14, 2017, 07:25:34 AM

Quote from: mkmdoc on April 14, 2017, 05:58:39 AM

Quote from: mackenzied on April 14, 2017, 05:13:52 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

Bitcoin is completely new terminology and technology which indicates virtual currency, today many countries are becoming a digital world with the help of internet. So bitcoin is going to be another history in the internet world, already many countries are using bitcoin as one of the payment options and treating it as money.

Yes now all countries are started to convert their country to digitalized, so this is good news for Bitcoin, if it happens then bitcoin become more popular in with short periods of time. I heard that some countries are allowed to do Bitcoin trading legally. so one day they will accept this bitcoin as their payment mode.

Bitcoin trade is allowed all over the world there is no any restriction on that and it is also used as a currency all over the world but for people private dealings not for state dealings and now only Japan have approved it as a currency for their state so the chances appeared that countries are accepting it.

Deep BTC

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Everything used as a means of exchange can be money. Mankind has used different clearing tools throughout history.
Bitcoin can be used as a exchange tool, such as gold and silver. People's demands determine the value of a exchange tool.

Bitcoin is a valuable exchange tool.

paul gatt

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Quote from: Bitcoin0916 on April 15, 2017, 09:00:26 AM

For the moment I am asking not money but gold, the reason is because of the bitcoin is the most profitable investment, I already earn more profit than I had anticipated, other investments such as gold, land, and stocks moved down so that make me loss.

Bitcoin is like a stock that many people still know, its value is constantly changing and at the same time tends to stabilize in the market. At present, bitcoin is on the rise, it is a good piece of cake for all investors, with their expectation, they can make a huge profit for it. However, it is not so easy for everyone.

Bitcoin0916

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For the moment I am asking not money but gold, the reason is because of the bitcoin is the most profitable investment, I already earn more profit than I had anticipated, other investments such as gold, land, and stocks moved down so that make me loss.

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Quote from: The_Dark_Knight on April 14, 2017, 10:27:23 AM

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.

Bitcoin has several advantages over fiat and some minor disadvantages as well. Its acceptance is small but gaining slowly. More people buying bitcoin shows its growth and the price of bitcoin keeps on rising and remains steady.

For the traders it is a good thing and they make profits from the market. For the merchants though it is bad since they difference is price cant be made up if they dont adjust the price of selling articles based on the local currency.

AngelSky

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Quote from: The_Dark_Knight on April 14, 2017, 10:27:23 AM

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.

The_Dark_Knight

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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.

Devboy

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Quote from: Questat on April 14, 2017, 07:49:56 AM

Quote from: fullypak on April 14, 2017, 07:25:34 AM

Quote from: mkmdoc on April 14, 2017, 05:58:39 AM

Quote from: mackenzied on April 14, 2017, 05:13:52 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

Bitcoin is completely new terminology and technology which indicates virtual currency, today many countries are becoming a digital world with the help of internet. So bitcoin is going to be another history in the internet world, already many countries are using bitcoin as one of the payment options and treating it as money.

Yes now all countries are started to convert their country to digitalized, so this is good news for Bitcoin, if it happens then bitcoin become more popular in with short periods of time. I heard that some countries are allowed to do Bitcoin trading legally. so one day they will accept this bitcoin as their payment mode.

The future is clearly bright for bitcoin, more countries will adopt means more demand and will always result to a higher price.
For me, I think this is the best investment as it is guaranteed that your money will grow yearly based on trends.

I agree with you. Bitcoin has,bright future, it's really positive signal that many of countries adopt bitcoin and use it like as real money which proved Bitcoin has high demand and continuously grow the bitcoin user consumers.

Questat

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Quote from: fullypak on April 14, 2017, 07:25:34 AM

Quote from: mkmdoc on April 14, 2017, 05:58:39 AM

Quote from: mackenzied on April 14, 2017, 05:13:52 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

Bitcoin is completely new terminology and technology which indicates virtual currency, today many countries are becoming a digital world with the help of internet. So bitcoin is going to be another history in the internet world, already many countries are using bitcoin as one of the payment options and treating it as money.

Yes now all countries are started to convert their country to digitalized, so this is good news for Bitcoin, if it happens then bitcoin become more popular in with short periods of time. I heard that some countries are allowed to do Bitcoin trading legally. so one day they will accept this bitcoin as their payment mode.

The future is clearly bright for bitcoin, more countries will adopt means more demand and will always result to a higher price.
For me, I think this is the best investment as it is guaranteed that your money will grow yearly based on trends.

fullypak

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Quote from: mkmdoc on April 14, 2017, 05:58:39 AM

Quote from: mackenzied on April 14, 2017, 05:13:52 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

Bitcoin is completely new terminology and technology which indicates virtual currency, today many countries are becoming a digital world with the help of internet. So bitcoin is going to be another history in the internet world, already many countries are using bitcoin as one of the payment options and treating it as money.

Yes now all countries are started to convert their country to digitalized, so this is good news for Bitcoin, if it happens then bitcoin become more popular in with short periods of time. I heard that some countries are allowed to do Bitcoin trading legally. so one day they will accept this bitcoin as their payment mode.

deisik

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Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it

"Traditional fiat currency" has been a digital currency for decades already

If you refer to cash as "traditional fiat currency", then Bitcoin cannot possibly be a hybrid of these since Bitcoin, unlike fiat currencies, has nothing to do with cash altogether. I'd rather consider it a step ahead from fiat currencies as such (both "traditional" and digital) but certainly not in terms of how digital it is. Fiat currencies are as digital as Bitcoin can ever be (but not only digital, of course). Other than that, there is nothing extraordinary in using fiat currencies as commodities, either. That's what currency markets are basically involved in (i.e. in trading money as commodity)

R2-D2R2

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Money is merely legal tender, a form of exchange. We use it to exchange value. It represents value.

Money is the 'body' of value. It is the physical representation of value that rises and falls in ourselves, within us. Not within 'things' outside of us, but within us. For without us, what can the value of a thing, such as a car, be to us?

Nothing, at least not to us.

In other words, it is we, the observers, that place value in things, but this value is really value in us - we give value to the material things. The material things have no 'money' value in themselves - we give that to them.

So, money is the external physical representation of a particular section of our internal value, within us, within you.

kvlolo

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Isn't bitcoin Money? In a word, bitcoin is money.

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Quote from: mackenzied on April 14, 2017, 05:13:52 AM

Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

Bitcoin is completely new terminology and technology which indicates virtual currency, today many countries are becoming a digital world with the help of internet. So bitcoin is going to be another history in the internet world, already many countries are using bitcoin as one of the payment options and treating it as money.

mackenzied

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Quote from: TheUltraElite on April 14, 2017, 04:15:46 AM

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Bitcoin is not a hybrid, it's a technology, a whole new product, and it's the start of all virtual currency. We can say that it is the basis of all other altcoins. Acceptance of bitcoin is just a manifestation of people's love for it. Countries have seen the potential of bitcoin, so they legalized and implemented it.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Dimelord on April 13, 2017, 01:55:24 PM

Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

This shows that bitcoin is a hybrid of both traditional fiat currency and a digital currency. It has a large acceptance and so the price of bitcoin is very high considering the local currencies. Thus people want to buy and sell bitcoin and make profits out of trading. it is also used a currency but I think usage as a trading material is more than as a currency because in many countries bitcoin is not yet popular and not many merchants accept it.

Dimelord

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Some consider bitcoin as commodity like gold and they just use it as an investment.Thats why they say it as Digital Gold.
Some say bitcoin as money since it is used to buy any products just like money and so they consider it as money.More over,just like money,it is also used for transactions.
Since Bitcoin has both the features,we can say it as both money as well as commodity.

Harlot

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I think the definitions of money just what you mentioned can be interpreted in many ways from a common medium, legal tender, gold/ rare metal to money in stocks. We can fit it in Bitcoin as some kind of money that is a common medium of exchange for people transacting online which is true. It is like any other function of money it is used as a payment of goods. Any way we all have different interpretations of the definition of money but one thing is for sure it is considered as a currency it even has an exchange rate to Fiat currency.

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