Topic: Is Bitcoin money? - page 31. (Read 112172 times)
Bitcoin is money. Bitcoin is a new generation of money, it evolves like us. Bitcoin becomes more convenient, easy to hold, more secured and safe from theft (hacker). Bitcoin can be used in payments, buying goods and services, billing, loading as far as fiat currency.Bitcoin is both right now, a form of investment, and a possible form of payment.
Bitcoin can be defined both ways; it can be defined as money because it is having major characteristic of money i.e payment for buying goods and services. But if we do not agree with the point that bitcoin is money there are several reasons for saying so;
Few countries have banned it
Even in the counties where it is not banned it is not acceptable by the all the citizens of that country. the payment will be accepted by only those persons who are having knowledge about bitcoin; having bitcoin account also but presently most of the people are not having internet bitcoin accounts and even many people do not even know about this currency. So till time it is not universally acceptable but in times to come it will really become true money.
Also some people say it can be converted easily into cash so it is money; but gold etc is also easily convertible into cash and it is not money still. So in near future bitcoin has bright chances of becoming universally acceptable money by all and then it will become money for all,
Few countries have banned it
Even in the counties where it is not banned it is not acceptable by the all the citizens of that country. the payment will be accepted by only those persons who are having knowledge about bitcoin; having bitcoin account also but presently most of the people are not having internet bitcoin accounts and even many people do not even know about this currency. So till time it is not universally acceptable but in times to come it will really become true money.
Also some people say it can be converted easily into cash so it is money; but gold etc is also easily convertible into cash and it is not money still. So in near future bitcoin has bright chances of becoming universally acceptable money by all and then it will become money for all,
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?
Bitcoin is money because you can convert it into real money or in your currency like here in philippines you can convert bitcoin to php .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 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?
Bitcoin is money because you can convert it into real money or in your currency like here in philippines you can convert bitcoin to php . 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?
For me I considered it like an electronic or digitalize money. It has value and you don't want it to be stolen by anyone. 
Bitcoin is of course a money but it is intangible because it is in a binary form or digital. Since you can use this digital money as payment when you buy goods or pay for any services, then that's safe to say that bitcoin is indeed a money.
Bitcoin is a digital coin its sounds like money because of its value but it converts into fiat before you used this as money.Bitcoin has a quality to rise in the market because of the value so why many people wants to venture in bitcoin if its not money?Actually bitcoin is like money.
Yes it’s a digital currency and its work same like other currencies when you want to buy things so you can buy any time and also you can buy online so bitcoin is not only currency but it’s also an asset you can earn here a lot of money bitcoin is very safe and good for investment you can invest here as much as you can and I’m sure if someone join bitcoin then he became a regular user of bitcoin because bitcoin is very good hope for future.Most of the Bitcoin users are saving it or trading to earn profits.
No one wants to waste Bitcoin while altcoins are better than Bitcoin for payment, Ripple, Ethereum, Digibyte ... all better than Bitcoin.
Yes of course bitcoin is money that can serve as an investment. We can see the function of bitcoin can be used as a means of payment, this is the basic function of money. But bitcoin can be said future money.
Bitcoin is a digital coin its sounds like money because of its value but it converts into fiat before you used this as money.Bitcoin has a quality to rise in the market because of the value so why many people wants to venture in bitcoin if its not money?Actually bitcoin is like money.
Yes it’s a digital currency and its work same like other currencies when you want to buy things so you can buy any time and also you can buy online so bitcoin is not only currency but it’s also an asset you can earn here a lot of money bitcoin is very safe and good for investment you can invest here as much as you can and I’m sure if someone join bitcoin then he became a regular user of bitcoin because bitcoin is very good hope for future. Bitcoin is already an investment asset like gold. Of course u can buy, for example, a house for Bitcoins. But it's to big commissions due to high price, so it's not for everyday purchases.
It is not like gold but it is much better than gold because it has a lot of features that are better than Gold or any other currency or investment. I am using bitcoin as a currency to make money through it. Not bitcoin is able to buy us anything we want just like house and shopping we can go out to make things to hang out with friends. So we can use bitcoin for anything we want to buy. It is easier and reliable than simple money.
Investing money in bitcoin, this is an excellent surplus investment. Bitcoin is the best multiplication of money.
Bitcoin is money Digital one.
if you country accept bitcoin will be money or need to go other country to be accepted
if you country accept bitcoin will be money or need to go other country to be accepted
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
Yes, for me bitcoin is money. Because the value of bitcoin is so high than dollar. So I consider that bitcoin is money. Someday all we used bitcoin for paying bills, buy our needs, using pay if we go shopping. So bitcoin for me is money. As long as the government will not ban bitcoin and will regulate it for the benefits of the majority of users we will see a great future ahead, it might be too early to tell now but I'm confident there will be more good news in the future so let's keep investing now.
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
Yes, for me bitcoin is money. Because the value of bitcoin is so high than dollar. So I consider that bitcoin is money. Someday all we used bitcoin for paying bills, buy our needs, using pay if we go shopping. So bitcoin for me is money.
It is not solid money, its a digital currency and it can be into solid money by different transaction. The people who are connected with BTC they believe it and doing there business and different government make it legal to their country because people can not want to handle solid cash. They dont have enough time to go bank and take cash and carry it. So they use it as a currency and make their life easier. In this sense it is money
Bitcoin is Electronic Cryptocurrency .It Is Like Another money for me.
Yes, Bitcoin is a digital cryptocurrency and internet dependent; aside from that fact, Bitcoin has value just like money, and I agree on what you have said that it is another type of money; but if you want to be an official money, you can do cash out. 
Some persons are already taking bitcoin as their primary investment asset, this is happening among the youths that are starting their first invest journey. But one thing is for such, life is all about risk likewise your investment.
Always trade and invest wisely.
Always trade and invest wisely.
Bitcoin is already an investment asset like gold. Of course u can buy, for example, a house for Bitcoins. But it's to big commissions due to high price, so it's not for everyday purchases.
Many people are use bitcoin as currency and investment today. We can buy thing using bitcoin in many various online shop and service. Bitcoin is money that we can use to purchase goods but we better save it as investment.
It's both money an investment, in fact better than the real money because the money that we know inflate it's value in the long run but bitcoin does the opposite. Like what we have seen this year, the value has increase almost %1,000 and that is just amazing, and we are happy holding bitcoin even for a long period of time.
bitcoin is a valuable commodity. They are used for monetary exchange. And their value does not change but many people wonder if bitcoin is money? , every bitcoin transaction we pay a large amount of money
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