Topic: Is Bitcoin money? - page 140. (Read 112169 times)

I cannot see the reason why people will not accept Bitcoin being anonymous.  As far as I can see it is a good feature so that you will be safe from those people who have bad intention and steal your wealth.  People who do not have much money does not know how anonymity is helpful to keep them safe and hide them from thieves and robbers.  So  with anonymity I think Bitcoin is more likely to be accepted.

In my view, basically bitcoin made for earn money and save money and use for money wise. SO i started to use bitcoin, because i want to earn from it, and bitcoin give me other benefits, like using it all over the online world. That's why i don't want to discuss it, Is it money or not.

Never keep hope on governments. They need centralized currency which they can have hold of not something which is in independent people's hands.
Anything using which you can buy stuff or let others buy stuff or which is having a value is money. And Bitcoin has huge value.
It's just that there is no physical form to Bitcoin that's why people get confused. Bitcoin is more than money.

Never keep hope on governments. They need centralized currency which they can have hold of not something which is in independent people's hands.
Anything using which you can buy stuff or let others buy stuff or which is having a value is money. And Bitcoin has huge value.
It's just that there is no physical form to Bitcoin that's why people get confused. Bitcoin is more than money.

If Bitcoin is not money then there won't be people interested. Because money
is something valuable, its value and its system. So I think, Bitcoin is money,
but that's not a official money, because the government has not yet been inaugurated.
Maybe for the future any country will adopting this cryptocurrency as official currency. I very hope that.

In my view, basically bitcoin made for earn money and save money and use for money wise. SO i started to use bitcoin, because i want to earn from it, and bitcoin give me other benefits, like using it all over the online world. That's why i don't want to discuss it, Is it money or not.

Bitcoin can be the future currency system in the world. I dont expect governments to accept bitcoin because its harmful to them but even then I think the people using bitcoin know about the advantages it has over fiat currency. Hence bitcoin is used popularly as a currency but more as a trading investment these days due to the rise in prices. People are hopeful of the price of bitcoin and that it will rise in future as well.

Yes that is one of the benefits of using bitcoin is you can use it as a secondary money and buy the things that you want online or in the real world if you like to. Bitcoin can be the future of money because the government might make a digital money to use it online and transfer remittances online and that is what bitcoin have.

All these facts shows that bitcoin is becoming a real currency and soon we shall have bitcoins and altcoins for everyday usage also. The increase in he market cap for the digital currency shows the future is purely bitcoins.

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:

• 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.

[links omitted]
[/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?

All these facts shows that bitcoin is becoming a real currency and soon we shall have bitcoins and altcoins for everyday usage also. The increase in he market cap for the digital currency shows the future is purely bitcoins.

Beginning of 2017 has been optimistic for the cryptomoedas. A series of historic highs this year helped boost the market, which during this weekend reached almost $ 28 billion in capitalization.
The market cap of Bitcoin and the other criptomoedas (altcoins) hit a record $ 27.9 billion. The combined volumes of crypto-coins totaled $ 860 million over a 24-hour period.

yes it is as long as we are able to buy and sell with it. it has a value also therefore, bitcoin is money and we can use it as our secondary source of income.

Bitcoin is a cash or we can state another sort of cash yet the diverse thing is, it's virtual and you can just have this sort of cash in the event that you are in the web. Bitcoin is additionally an another sort of venture where you can make a great deal of benefits on the grounds that the cost is moving volatily so it is a decent sort of trademark for me

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.

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.

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:

• 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.

[links omitted]
[/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?

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?