Topic: Is Bitcoin money? - page 26. (Read 112172 times)
bitcoin is coin, but in virtual form which can be bought / sold with original currency
the symmetric sympre is the bitcoin because the bitcoin has exceeded the money because of its very high value due to the large number of investors so its steady increase and maybe someday bitcoin is used in the philippines as a substitute.
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.
Is that true? If it is then bitcoin as a mode of payment will quickly bloom in the asian countries. First Japan, then now Philippines. That is quite promising for the wide acceptance of bitcoin. More and more bitcoin will be known for its capability similar to what a fiat money is.
For me btc is like a money in the poker but its not a chips is more like a money when you win at jockpot round. All comments are very satisfied but btc is like a the job that I very wishful time investment.
If you're comparing Bitcoin as a jackpot win so it means really hard to win with Bitcoin because that how jackpot is ?
Yes, although bitcoin is just an asset and digital money for some of people, you can exchange bitcoin in your country's currency inorder for you to use it in buying your wants. Like here in the Philippines that bitcoin is not yet legal, we need to exchange btc into php before using it in transacations.
Bitcoin can be exchanged with the French currency, so it can be used as a coin, but there is a fundamental difference between the currency and the currency. The money can be added, but the amount of bitcoin is certain.
For me btc is like a money in the poker but its not a chips is more like a money when you win at jockpot round. All comments are very satisfied but btc is like a the job that I very wishful time investment.
Btc is money. Thou it is kinda different from currencies such as dollar and pounds. This is because it's a new type. Btc and its kinds are called cryptocurrencies
Not everyone appreciates the value of bitcoin to this day. I think we all know that bitcoin regarded as digital currency that can be used all over the world, although not all countries have accepted it. They don't even consider it a money.
Yes, it may not be popular as paper money but almost popular, and currently uses the entire globe.
Yes, it may not be popular as paper money but almost popular, and currently uses the entire globe.
In a temporary form like it is now, bitcoin is definitely considered to be digital money.
It's a currency which is volatile in sense of value as it shifts from time to time but btc
can purchase, invest and be traded. It's a commodity and an asset as well, since it
evolved throughout the years it acquired it's modern reputable market price.
Now I believe this is where it all gets interesting and confusing to some, because
bitcoin is radically all of it. Just like gold's value and stature, bitcoin is as good as money.
It's a currency which is volatile in sense of value as it shifts from time to time but btc
can purchase, invest and be traded. It's a commodity and an asset as well, since it
evolved throughout the years it acquired it's modern reputable market price.
Now I believe this is where it all gets interesting and confusing to some, because
bitcoin is radically all of it. Just like gold's value and stature, bitcoin is as good as money.
Doesn't matter if is money or not, we can buy what we want with them... xd
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?
First of all there are real life btcs their value is even higher then digital btc, and of course I know that they are for collectors and that they are rare.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 you mentioned money is term for value for every living and unliving item except air ( for now and gulp) which means that money is not just paper (money is all around us but we don't know how to use it) and its meant for buying selling or trading (I'm kinda describing the term money ) so if you can trade that digital BTC for $ that means that it can be called money. They are trying to make something like credit cards (my humble opinion) in near future to make transactions easier or to make it world wide currency ,for as we all know about technology importance in today's world and as it highly relays on it will be a big part of the future.
yes bitcoin can be considered as money but it is not a hard currency it cannot be felt but it can be used for everything it is a crypto currency
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
I agree with that and in terms of medium of payment Bitcoin is a lot more better cause it pumps the chances for you to become more profitable were good. Bitcoin is money in the sense that you can be able to have profit just transfer or convert it into your local money to become cash.
its not money, but an asset, it not convient to use, people need to wait for a long time for confirm and also the fee is too high, besides, the price is not steable which will be hated by the market as money
Bitcoin is not money but works for money. Bitcoin is a cryptocurrency that we can use for various transactions. However, if we want to use fixed bitcoin we have to exchange the bitcoin for money except for the bitcoin transaction.
Bitcoin is money for me, because you can exchange it for fiat. In addition, even online bitkoyn - this is really money, which offer an online store that takes bitcoin. The last quick transactions when exchanging for fiat.
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?
Is bitcoin is money? Yes because many people are investing on it's for their future because many people like my friends are becoming rich because of bitcoin . And Bitcoin are becoming popular and have a possibility to become the new money currency 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?
Basically the bitcoin is a money.
unfortunately is not widely accepted yet in the market therefore need to convert into a non virtual currency.
unfortunately is not widely accepted yet in the market therefore need to convert into a non virtual currency.
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