Hi everyone. They are utilised not only as payment. For regular individuals, they're considered only as payment. For that economy of the country - it is really an important device. Bitcoin doesn't have the capabilities of supporting the economic climate. Therefore, it cannot be called full-fledged money meaning that is available now
Topic: Is Bitcoin money? - page 3. (Read 112189 times)
Bitcoin is an electronic money made in 2009 by Satoshi Nakamoto. The name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoins of a decentralized currency. Unlike most common currencies, bitcoin does not depend on trusting major publishers.
Bitcoin is no money in tangible form, but the function and use bitcoin same as real money,even with bitcoin we can make a good deal for payments such as paying bills and electricity bills, etc. as well as grocery shopping our day, but it all depends on a country where we are because we know there are some countries that prohibit about the existence of bitcoin, other than that bitcoin is able to create a good business opportunity in trading or investing.
It is intended by Satoshi Nakamoto to be the official currency of the internet, and here we are using it as a way to earn income. However, I think it's just fine considering that because of bitcoin investment bitcoin had grew and survived the tides of the time and the market. So it's up for the user to decide whether they would intend it to be a currency or as an asset depending on how they use it.
For me, at a certain level, it could be considered as a currency. I mean, Satoshi Nakamoto himself, tge man behind this genius invention intended bitcoin to be the "Currency of the Internet." So i think it is only fair for bitckin to be recognized as a currency even now that it has seen the market as an asset for investment and not for being a currency.
To be fair, Satoshi Nakamoto's original intentions for bitcoin's creation was for it to serve as the official currency of the internet abd potentially the future, as of now butcoin still serves this purpose but mostly people are converting their monies to bitcoins in order to gain profit. So in other words bitcoin had become an asset. It is not wrong however as it helps bitcoin's growth and development as well as securing bitcoin's bright future either as a currency or as an asset.
I believe that Bitcoin is new kind of money.and anything that can be exchange to fiat cash is money Bitcoin has taken a special role in the current era which is a special role in the poverty alleviation center.it's virtual.It is a new investment center that earns money but uses the internet, Just like everything else, the money will be the same.
no doubt about this we are already using bitcoin as currency not only for online purpose but in physical shops also. although the physical shops are not to much but hope that their number is increasing and very soon the number of bitcoin shops will increase and then we will be able to bitcoin in our local shops, but i think still there is some more time is require for it.
Yes I guess bitcoin is money, just a digital currency alley not is physically and can only be in use by means of online and use the internet, do not like the real that we could touch and without the need to use the internet.
And I think that the digital currency is one of a picture of the future of technological progress
And I think that the digital currency is one of a picture of the future of technological progress
Bitcoin is a currency, and now only a few merchants accept it, and I think it will be accepted by most businesses in the future.
Yes bitcoin in Money Because of It We have money and can make money using bitcoin so a big help say like I'm hard.
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?
Yes it is Bitcoin is money, with it's easiest transaction of money you can get it in time. For one year that I experienced here in bitcoin all I can say to this currency is this is a life saving which change my life from the problems that I encountered everyday, I always use Bitcoin to buy my necessities, pay bills , paying tuition fees at school and to survive everyday, I converted it into a real money which is very helpful to me, even in time of emergencies this is the only currency which made me happy and secure for every things that I done with the help of this. 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.
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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?
At first glance it seems like nothing worth paying attention to, Bitcoin is a global currency, which is traded person to person without any need for a bank in the middle. digital currency does not wear, tear or break. However, you can buy some physical items which have bitcoin addresses stored on them. When you make a bitcoin transaction, the coins you spend from your wallet to another wallet have a traceable history back to the point where those coins were mined from the network.
Bitcoin is money and almost everyone already accept bitcoin and know about it. It's something strange for newbies but true, you guys should read more about bitcoin.
No. Because bitcoin is just a virtual money. Bitcoin is a better use of accommodating without using flat money. Bitcoin is a better use when it comes to biggest amount of money and no need to pay for real money.
Now Bitcoin is money, in many countries it is a legalized means of payment and mutual settlement. As well as other crypto-currencies, behind which lie grandiose projects
Yes, bitcoin can be considered as money, it is more than a money I guess to everyone who are working here. Some people call bitcoin a new gold, so it means it is a money in crypto world. Bitcoin is really a money because it really can help you on everything especially buying sonething you really need and support financial. Bitcoin is really a big help for everyone.
Bitcoin is a money too. This bitscoin is an electronic money or digital money that we can't hold in literal. We can also buy or sell something with bitcoin online.
Friends, if I say a currency that you can never touch, your moneybag will not be there, but you can spend and earn. Yes, friends are talking about Bitcoin. Bitcoin is a type of coin that can be heard by coins but it does not exist anymore. It is electronically saved on your phone, tablet, laptop or any storage media
Bitcoin is money. It is an electronic money that can be withdrawn as a cash or to be deposited. You can send money to your wallet and it can be bitcoin that can be purchased or can be invested.
Yes, bitcoin is money but it's not that paper or coin money that we can touch and we had. Bitcoin is a digital money or a digital currency.
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