Topic: Is Bitcoin money? - page 22. (Read 112172 times)
Yes off course bitcoin is money some newbie are still confusing about that so I want to explain them that bitcoin is a currency that you can convert to any of your desire currency but you can’t used it directly for payment because it is not accepted still as a payment in various places.
In my opinion you can call a bitcoin another method of paying alternative of money. But more on online transaction i guest like in online shopping paying bills, online gambling, Because bitcoin can be more convenient to use this nowadays.
Money is typically defined as a type of exchange that can be bartered between two parties for goods or services. That is, instead of one party offering to do another good/service, they instead offer money. Bitcoin is money in the sense that it can be used to procure a good or service. However, BTC is also predominantly electronic form only. Yet, because today's world is trending towards non-physical assets, I think this may constitute a viable form of alternate currency. I'm not too keen into how BTC is formed, but I do believe there must be some form of physical backing to it - similar to how USD has gold that is backing it up.
Bitcoin is not a money, it is digital currency. Bitcoin is a digital asset you need to exchange to fiat in paper money or coins to be called money.
Not in my dreams that bitcoin become centalized. One of my favorite to this bitcoin is decentralized.
Digital currency is money as well, the name itself implies that, it is just a currency that is in digital form, your balance in your PayPal account is money, your balance in your debit card is money, and the balance in your bitcoin wallet is money as well.Quote
Yes bitcoin is money, just wait for the near future the bitcoin is became centralized currency. and its easy to us to used bitcoin just like money.
Not in my dreams that bitcoin become centalized. One of my favorite to this bitcoin is decentralized.
For me i considered bitcoin is money but somebody say it is an electronic money or digital. .
Bitcoin is kind of digital money. Btw, US dollar also can be digital money when you use your debit/credit cards..) But currently the main BTC application is investments
For me i considered bitcoin is money but somebody say it is an electronic money or digital. .
Bitcoin is a lot way different with money. We all know that money is accepted in all country but bitcoin is not. But in the other way bitcoin can be convert unto money. Money do not require any application to pay in any kind of payment but in bitcoin it is necessary. There are more of its difference but bitcoin is good it is usefull and reliable.
Bitcoin is not fiat because of Proof of Work and decentralization. There's no owners of bitcoin, and the money supply cannot be changed. There's a limited supply, and no one controls the supply. Even if bitcoin was worth 0.0001$/BTC it would still be a commodity. Value doesnt make a commodity but supply/decentralization makes.
Bitcoin is sounds like a money only but bitcoin is not a money and if you have a bitcoin it seems like you have a money too and your bitcon can be a local currency just put your bitcoin into a online wallet app that the app is secured, trusted, legit and popular and if you have find the convert then put how much if you're done you will see that your bitcoin is a local currency now
Bitcoin is not money, but bitcoin can be converted into money because bitcoin has a price so bitcoin is now widely referred to as the digital currency. As a currency, of course, bitcoin require services exchanger if want to convert it into money.
Bitcoin is more likely commodity than money because the price is not match for buy and sell something. that will make buyer or seller getting lose if they buy/sell something in bitcoin when the price down/up.
Money performs many functions. They are used not only as payment. For ordinary people, they are considered only as payment. For the economy of the country - this is an important tool. Bitcoin does not have the functions of supporting the economy. Therefore, it can not be called full-fledged money in the sense that exists now
Bitcoin is an asset that it could change the valuation depend on how good on the news. So it could be consider as money.
Bitcoin absolutely is money because i think everything that could be sell into money is money, even with the smallest thing.
Bitcoin is money, when we have bitcoin in our wallet its easy to cashout using bank or remittance.
If bitcoin is "money" then I think you do not need to "cash out", to convert or to make it through a lot of exchangers because if bitcoin is money, it will be accepted anywhere in the globe, but it is not. If bitcoin is money I think it is used in paying something regularly or maybe everyday, but it doesn't, bitcoin for now is just a digital currency, an asset which you hold hoping to get a profit over time taking advantage of it's volatility.
Bitcoin is a peer-to-peer digital currency that is fast, secure, decentralized and acceptable worldwide. With bitcoin you can send money anywhere in the world. Bitcoin has no borders, boundaries, or central authority that controls it like fiat. Bitcoin is the first free currency which was made and controlled by the people. Bitcoin was originally invented as a digital currency but due it limited supply and value, people are now using bitcoin for both currency and asset.
NYSE is seeing it that way now! 
http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/
It's about time too!
As of this posting it is $2,911.66
Bitcoin could be called both as money as well as commodity. Bitcoin is used to buy products just like money. http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/
It's about time too!
As of this posting it is $2,911.66
Bitcoin is not money, bitcoin is the same as gold, oil, gas and other commodities that distinguish it is if gold is a physical form while bitcoin is an invisible digital asset, and if bitcoin is used as a means of payment in a country then the country is old will eventually experience an economic crisis because the value of their currency weakened.
What is Money by definition? -> "A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or another readily liquefiable account."
So yes it is money
So yes it is money
In my opinion, a currency is the mode of payment. A currency is made to measure a worth of a thing so that no dispute arises for an unfair exchange of commodities or services. If a thing or service can be measured in BITCOIN then why not it is a currency!!!
To perform a trade both party should agree on the term of exchange and mode of payment. No matter what is that mode of payment, it could either be Govt. issued fiat currency or a commodity/thing, services etc.
To perform a trade both party should agree on the term of exchange and mode of payment. No matter what is that mode of payment, it could either be Govt. issued fiat currency or a commodity/thing, services etc.
Jump to: