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Topic: Is Bitcoin money? - page 25. (Read 112172 times)

sr. member
Activity: 659
Merit: 250
December 28, 2017, 08:20:39 PM
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 ...


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.
member
Activity: 84
Merit: 10
December 28, 2017, 12:48:02 PM
Bitcoin is absolutely money if you work hard on it. We just need patience and be wise on how to make big money in Bitcoin. Just go with the flow guys.
full member
Activity: 728
Merit: 131
December 28, 2017, 12:44:58 PM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
bitcoin is money and gold. as of now no one predicted that this will happen into bitcoin that fast, before as we doubt bitcoin and keep having fiat on banks and gold in our jewels bitcoin was a sleeping giant and now awake with the whole world having panic in doing bitcoin now!
newbie
Activity: 42
Merit: 0
December 28, 2017, 12:43:08 PM
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 and can be used to pay for commodity. It's acceptance is growing worldwide and more businesses are adopting Bitcoin as a payment means.thus I don't know what else Bitcoin is than money. Only difference might be that it is virtual money but it still bears the name money. I guess it's a kind of money. Right?
newbie
Activity: 26
Merit: 0
December 27, 2017, 12:00:39 PM
Thats right, bitcoin is money, it is also my source of income because I have to provide for my own study, I have to pay my tuition, my allowance also if I have to pay in school. Since I earn enough money through small business I can support myself in many aspects, I can also meet the needs of our family, I bought them a bag of rice that is all good for a month, and this is very helpful since I we have financial difficulties
member
Activity: 70
Merit: 10
December 27, 2017, 11:33:04 AM
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 ...
Bitcoin is money, it was created with that explicit purpose, and it became an investment because now currency pairs are traded in the markets like any stock, just look at forex so it is not surprise bitcoin became an investment, but bitcoin it is not a ponzi scheme since it does not follow the principles that a ponzi scheme follows.
full member
Activity: 196
Merit: 102
December 27, 2017, 11:24:01 AM
    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?





    Bitcoin is a digital coin that can be sent electronically from one user to another, anywhere in the world that accepts the presence of this currency. Bitcoin is a digital currency that is now increasingly popular in the world of invetation. This currency is triggered by the mysterious figure of Satoshi nakamoto whose full identity is not yet known clearly.
    newbie
    Activity: 196
    Merit: 0
    December 27, 2017, 11:07:47 AM
    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 ...
    newbie
    Activity: 50
    Merit: 0
    December 27, 2017, 11:06:36 AM
    No, not until now but there will be a time when bitcoin will be used to buy commodities and services. Just wait for it.
    full member
    Activity: 618
    Merit: 100
    BBOD The Best Derivatives Exchange
    December 27, 2017, 10:53:00 AM
    Bitcoin is something new for many people when it comes to finding out about it. These people only learn it when it reaches high values and are praised or criticized by the media.
    newbie
    Activity: 238
    Merit: 0
    December 27, 2017, 10:45:42 AM
    Bitcoin is and can be used to pay for commodity. It's acceptance is growing worldwide and more businesses are adopting Bitcoin as a payment means. I don't know what else Bitcoin is than money. Only difference might be that it is virtual money but it still bears the name money. I guess it's a kind of money. Right?
    copper member
    Activity: 289
    Merit: 254
    December 27, 2017, 10:38:30 AM
    obviously bitcoin is money because all people used it liked real money and in future bitcoin used as a national currency in so many country.
    newbie
    Activity: 56
    Merit: 0
    December 27, 2017, 10:32:05 AM
    Yes, bitcoin is money. We all know that bitcoin is convertible to fiat so there's no need to argue whether bitcoin is money or not.  We can at least convert bitcoin into fiat so that we could buy everything need.
    jr. member
    Activity: 71
    Merit: 3
    December 27, 2017, 10:26:25 AM
    For me bitcoin is more like an investment that you cannot hold. Just like the stock in stocks exchange. Yes it is money but only in the digital world. We can earn from it but we cannot have it in our hands.
    member
    Activity: 602
    Merit: 10
    December 27, 2017, 10:23:50 AM
    For me bitcoin is another form of money, let me say like check in can be change into a cash or any currency prescribed by the country its own or there own currency
    newbie
    Activity: 10
    Merit: 0
    December 27, 2017, 10:18:09 AM
    +1is it because it cause a time and investment also but we are using here a code. A thousand of code that bitcoin has and its very hard to get this encryption but were using mining rigs for the miner and it cost days to get points.
    newbie
    Activity: 68
    Merit: 0
    December 27, 2017, 10:12:44 AM
    Yes of course,  bilcoin is money. But only digital money. It can be change any country's currency with the help of internet.
    newbie
    Activity: 37
    Merit: 0
    December 27, 2017, 10:08:28 AM
    Yes. At the time of its invention in 2009, Bitcoin was the greatest form of money the world had ever seen.Since that time, many other brands have emerged, some with minor improvements. But they all share the same basic properties of the original. So now we can just say that “cryptocurrency” is the best form of money, and this includes Bitcoin.These new currencies are in essence digital cash and digital gold. Many experts predict this new money will obsolete all other lesser forms of money which includes fiat currency.Cryptocurrency behaves like cash because unlike checks or credit cards there is no trusted intermediary participating in the transaction. It behaves like Gold because its supply is mathematically guaranteed and immune to centralized manipulation and control.So is Bitcoin money? Yes, it’s the best form of money ever created.
    newbie
    Activity: 26
    Merit: 0
    December 27, 2017, 10:03:03 AM
    bitcoin is a digital currency that is not tied to a bank or government and allows its users to shop without revealing their identity. These coins are created by users who "mine" their currency by lending computing power to verify other user transactions. They accept bitcoin instead. These coins can also be bought and sold by exchanging local currency.
    member
    Activity: 196
    Merit: 10
    December 27, 2017, 07:06:56 AM
    How to say. Bitcoin is a peer-to-peer payment system that uses the same unit for accounting transactions and the data transfer protocol of the same name. In other words, it's crypto currency, digital gold, as they are called. But just going to the store to pay for products bitkoinami while you can not. Definitely, bitcoin is the future. Therefore, everything is still ahead. Wink
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