Topic: Is Bitcoin money? - page 19. (Read 112172 times)
Yes, bitcoin can say virtual money very promising, bitcoin is the future of a nation, bitcoin is money or virtual currency now this again popular, bitcoin can we say as a means of payment legally, although there are many who could not receive bitcoin as a means of payment, but bitcoin already shows his identity through the way in do online, money virtual or bitcoin already a lot of change the fate of a person of the small to large, bitcoin it helps a lot of society of a nation
Bitcoin has all the fundamental function of a fiat money it could be used as a medium of exchange, therefore, bitcoin can be considered as money.
Bitcoin is a digital money and its used for online people who knows online business and shopping and they better know its value because they get huge benefits from bitcoin and now their life is more comfortable than before bitcoin and i think bitcoin in future more popular and strongest currency. 
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
Yes for me bitcoin is money, because bitcoin is virtual money. And I believe that bitcoin is promising money and in coming years bitcoin is the main currency that we used for buying our needs and paying bills.
Bitcoin has all the fundamental function of a fiat money it could be used as a medium of exchange, therefore, bitcoin can be considered as money.
Yes bitcoin is money, you can change it in real money but be wise because you might be scammed or you might be hacked.
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:
[/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?
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.
[/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?
No, Bitcoin is not a money because it is just a currency. You have to convert it first to become a money. For example your BTC will be converted in a peso.
It's money because people decided it's money, just like dollar is money because people decide it is worth something
bitcoin is used as a medium of exchange, so bitcoin can be said as money
Yeah. I agreed. Bitcoin is a money. Actually, In google and other dictionary, All currency is money. But in the case of Bitcoin, We all know that Bitcoin is cryptocurrency/digital currency that is not legalized ni many countries. Since Bitcoin is now used as mode of payment and can be exchange in fiats in many countries, We can consider it as money. One of the characteristics of money is for buying something, Hence, Bitcoin is already using to buy something. Bitcoin is money.
In my opinion I think that bitcoin is money only called differently and have a different way of getting
bitcoin is used as a medium of exchange, so bitcoin can be said as money
Bitcoin is a Money because we use it as a form of payment.
In this digital age it is important that our transaction is more faster and secure online.
In this digital age it is important that our transaction is more faster and secure online.
it is a digital cryptocurrency in which we can convert it into cash and spend it for our daily expenditures or expenses so I consider it as a cash. if you want it as an investment then it can also be an investment. you can invest it at and convert it into cash one day.
Practically speaking yes it is a money because if you will have a bitcoin you can exchange anything or you can convert it to your county currency and its known as digital currency.
Yes, you are right However, some regions and countries still do not allow the circulation of bitcoin. But with the trend I believe that bitcoin can be gradually accepted by people.
Indeed I unquestionably concur that BTC is cash since we utilize BTC to purchase the stuff that we need and we needed generally and at times a few people utilize BTC to pay their bills on their home. Be that as it may, I normally utilized BTC to buy in my amusement. BTC is a genuine cash since we utilize it to buy something on the off chance that we can't utilize it to buy then it isn't a cash.
Yes! Because bitcoin is a digital currency. In fact, in some online shops or websites, bitcoin is accepted as a mode of payment. Even in converting it to your own currency, it will be accepted. Although, only few people knows and understands how important is bitcoin and how very hepful it is in income generation.
Practically speaking yes it is a money because if you will have a bitcoin you can exchange anything or you can convert it to your county currency and its known as digital currency.
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Yes. It doesn't matter what nation-states think bitcoin is.
All we're doing is saying bitcoin as something else other than its economic reality.
Bitcoin is not a money because it is a cryptocurrency. The only reason why we are striving to earn bitcoins is to exchange it to fiat. We all want to get rich and because of that, We keep on investing on bitcoins because we all know that the value will keep on increasing as the time goes by.
Agree. Bitcoin is actually the current and future money, this is a digital currency and we call this as cryptocurrency. The new technology of blockchain is used here which is an advanced technology no one have used this so far on any field. The hash power used for conversion, transaction and trading is also amazing thing for bitcoin.
Bitcoins and other cryptocurrencies are the new trend of money of the modern time. It helps people in a better way of transactions... i love 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:
[/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 belive bitcoin is not totally used as money, but it can be use like money.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.
[/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?
As per your post, bitcoin passes first definition of Webster's online dictionary as medium of exchange, yes it is also right that it is not common and still not legalised all over the world, but still in some part it is used and accepted as medium of exchange.
Bitcoin doesn't have physical appearance but it is having uniqueness. It is open to all but having control of owner itself.
Now a dyas bitcoin is not used as money but by adapting some changes it can be used as money.
Bitcoin is money, its digital cash... Much better and more valuable than fiat money.
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