Topic: Is Bitcoin money? - page 24. (Read 112169 times)
Yes bitcoin is money, it is the best of cryptocurrencies has to offer, knowing.ypu can exchange bitcoin in your country's money and still will give you more bitcoin is definitely the money, that everyone wants to havd it is also a valuable asset for the owner.
Bitcoin is a tool that you can get money, It is a worldwide payment system.
Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. People buy coffee with Bitcoin at local shops. Others get paid in Bitcoin and use it to shop online. Friends use it to settle with whoever paid for dinner. Workers send Bitcoin back home to help family, regardless of where they live.
Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. People buy coffee with Bitcoin at local shops. Others get paid in Bitcoin and use it to shop online. Friends use it to settle with whoever paid for dinner. Workers send Bitcoin back home to help family, regardless of where they live.
I disagree with you stating that bitcoin is not money, it is clear that bitcoin is a digital currency that has the same functionality as money in general. But bitcoin has a more sustainable function of money, I mean that in addition to bitcoin can be used for transactions, it can also be used as a profitable long-term investment.
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:
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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 totally agrees with all the dictionaries definition of money given above, but what I don't agrees with is your conclusion that bitcoin is not money due to the fact that bitcoin purchases all the features that are listed in the dictionaries above. Bitcoin is use as a medium of exchange of goods and services, and bitcoin is also a store of value. The only feature bitcoin is lacking for now is the legal tender and with time bitcoin is going to be accepted as a legal tender. 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?
Bitcoin money is a tool that is not much different from other paper currencies that distinguish only how to use in exchange where the exchange bitcoin digitally, and paper currency exchange directly physical. So bitcoin currency is a medium of exchange for getting things digitally.
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?
Bitcoin is a kind of money but it is under processed, fiat money is directly to pay something gold also is needed to convert into fiat money but if bitcoin become primary use of all country this is what I've in first line "bitcoin under process" now it will be going to pay directly like fiat money
its more than money as in our time money is just a paper ,but Bitcoin is somthing new and not only Bitcoin but cryptocoin ,blockchain somthing like internet it will change world.
The point is that our fiat money and Bitcoin have similarities and differences. Similarities in the sense that both are being used to buy stuff. Similar again in the sense that both have really no intrinsic value. The value of both our fiat paper bills and Bitcoin is only assigned to them by the agreement amongst people and the government and the supporters and community. The differences include the fact that fiat is centralized and in physical form while Bitcoin is peer-to-peer and decentralized.
its more than money as in our time money is just a paper ,but Bitcoin is somthing new and not only Bitcoin but cryptocoin ,blockchain somthing like internet it will change world.
Bitcoin is uniquely digital money, as they perform the function of a measure of value and the function of a means of payment. The fact that some indicate only certain forms that can have money and among them there is no money on digital media, this is fixable. When the notion of money was written, no one knew what digital money could be, so they are not included in the list of exemplary forms that can have money in existence. Simply over time, in this exemplary list of forms of money, digital money will be added and this will end the problem.
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.
+1 agreed. It's a commodity, a digital store of value.
yes i think bitcoin is become money if you converted...
Bitcoin gets to be money when it gets converted to fiat money otherwise it will still be a virtual currency. It gets the real value when it gets converted, by this way we can say that bitcoin is money when it is spent or used in any other website that accepts bitcoin as payment processor.
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
for me we can consider Bitcoin as an alternative to traditional government issued money, where people can use as a payment system. Therefore bitcoin is also money because we also use it to pay our bills online and the only difference is we cannot hold it like a fiat money because it is stored a a specially designed digital wallet where we have an access to it. "...from the perspective of economic theory, whether a digital currency may be considered to be money depends on the extent to which it acts as a store of value, a medium of exchange and a unit of account."
http://journals.sagepub.com/doi/pdf/10.1177/0263276415619015
Bitcoin is not a currency, bitcoin is just the same commodity as gold, oil, gas and others commonly used as an investment commodity, if bitcoin is used as currency, then there will be many countries claiming that bitcoin is made in the country, causing social, economic, and even bilateral issues.
I do not consider gold to be money. You can't go and buy most goods and services with gold. Gold is a commodity, dollars are money.
Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.
Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services.
I totally agree on this, the time that bitcoin will be a money is when it's been already accepted as a mode of payments online, shopping, good all other stuff. The time when government will accept the changes in our generation, the time that they will invest their trust as well. Money and bitcoin is different, but because uae of bitcoin we can earn money. Its just a cycle as well. But technically, bitcoin is not yet a money.
Some kind. As the original meaning of money, it is created to facilitated the exchanged of good. Much like what crypto coin are served for today. Thus, it could be viewed as money.
bitcoin as the digital currency used for transactions which governs the generation of currency units and verifies the transfer of funds, independently of the central bank. bitcoin can be used anywhere, and even bitcoin can be used directly if you want to join bitcoin. can be used to make the most of our online transactions between individuals, bitcoin is not money but a commodity that can be better utilized.
Bitcoin is a digital coin where we can sent it electronically from users to one another. Yes bitcoin is a money, a money from the internet that helps us safe money for our future. It also helps us buy products online and you can use bitcoin anywhere. It also helps you pay bills online. Bitcoin is really a big help to one another and I really adore bitcoin on how it works. I think sometime its work like money and sometimes not bcz money used by every people every palace in the earth but bitcoin not.
But one day it will be act like money ...
But one day it will be act like money ...
Bitcoin has always been acting as money from its existence. I remember during its 1st year, one American bought a slice of pizza for almost 3000 bitcoins. This only means that the main purpose of bitcoin is to act as money.
3000 bitcoins for just a pizza? I think we are exaggerating here, I know that it is easy to earn bitcoin on its first year but I haven't heard of this man who bought a pizza for 3000 bitcoin, I would appreciate it if you are going to share us the link of that article or news. However, if it is true, that man must be regretting what he did way back then, he spent a lot of money for just a pizza which could be bought by fiat.
bitcoin as the digital currency used for transactions which governs the generation of currency units and verifies the transfer of funds, independently of the central bank. bitcoin can be used anywhere, and even bitcoin can be used directly if you want to join bitcoin. can be used to make the most of our online transactions between individuals, bitcoin is not money but a commodity that can be better utilized.
Bitcoin is a currency for what people invested their 'money'. Is an asset which can be used for investment and purchases of goods and services, it is indeed 'money' however is not linked to any nationality or regulated by any bank, regardless of that it is a mean of value and you can acquire stuff you want through it so yes, in my opinion it is money.
There is two way assets like tangible and intangible, money also can get two way as touchable and untouchable. Bit coin untouchable Future digital currency transaction.
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