Topic: Is Bitcoin money? - page 32. (Read 112172 times)
Bitcoin is money! bitcoin is huge than money, in not longer of a wek or 2 bitcoin will reach the top of having 20.000USD per bitcoin which is really huge, here in the philippines that 20,000 USD is wworth more than 1 million pesos which you can afford to buy a housse in just a single BTC
In my opinion, bitcoin for me is money because I can use it to pay and buy online while at home and they can give it away for free, rather than buying in a store away from my house if I can buy it online I can do other work at home , so that's why I can say that bitcoin is money. 
Yah sure..i agree with your terms..
But doesn't matter what nation think about bitcoin..yes btc is online crypto currency which is we can called ut money..
now a days btc have gained popularity over the world..i think one day most of the country accept bitcoin as a online payment !!
But doesn't matter what nation think about bitcoin..yes btc is online crypto currency which is we can called ut money..
now a days btc have gained popularity over the world..i think one day most of the country accept bitcoin as a online payment !!
Yes bitcoin is one type of virtual money, which is control by using Internet and also convert into real currency. Bitcoin is declared as legal in many country and widely use for various propose. Many people using bitcoin for buying their daily needs like cloth, food, and other important stuff. Bitcoin is also use as a trading tool like real money. You doesn't need to pay any tax when you income money through bitcoin. It is world first Decentralized digital currency and it has include more benefits than real money.
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.
bitcoin has a function like money, but is used in the digital world. bitcoin can be used as a payment but is limited due to legality issues. today bitcoin is more often used as a commodity, which is traded and has a high price.
Money, according to the dictionary is generally accepted as medium of exchange. On the other hand, bitcoin is a digital form of currency and is no doubt to be used as a mode if payment. Therefore, yes, bitcoin can be considered as money as well.
Here the definition of a money, after you can choose if it's a money or not : something generally accepted as a medium of exchange, a measure of value, or a means of payment.
Bitkoyn simply does not invest in the definition of money in connection with his outdated formulation. When the concept of money was defined, the digital currency did not exist. Therefore, digital money was not included. I think that over time, the concept of money will be revised taking into account the emerging digital types of money and everything will fall into place.
Bitcoin, like the other crypto currency, now performs all the functions of money, being both a measure of value, and a repository of value, performing the function of a payment facility and so on. Therefore, there is no doubt that bitcoin and other crypto currency is a new kind of digital money.
Bitcoin, like the other crypto currency, now performs all the functions of money, being both a measure of value, and a repository of value, performing the function of a payment facility and so on. Therefore, there is no doubt that bitcoin and other crypto currency is a new kind of digital money.
My belief is that Bitcoin is a new type of money. Just as gold is not wealth but works as a wealth, silver is not wealth but it reduces money, but it does not work as currency even if it is not cash. Bitcoin is a money.
Bitcoin is not literally a money but it can also use as exchange of good like a real money.Bitcoin is a virtual currency that yoy need to exchage first in dollar or peso before it become a money.
of course bitcoin can be used as money for payments, however not much countries accept bitcoin for payments so it is very limited, but in general bitcoin can be transfer into money by trading on exchanges and use in real life.
Bitcoin is money in a sense that it is being used as medium of exchange but in a form of cryptocurrency not as coins and banknotes. And through the used of digital wallet we can convert bitcoin to our fiat currency. Like here in the philippines we use coins.ph as digital wallet for the convertion of both currency.
Frist of all we have to understand the different between cryptocurrency and fiatcurrency.Anything that is being used as a medium of exchange is money. Bitcoin, (a unit of account ,exchange with that and uses some thing buying ) so why not we call it a digitel vertual currency or 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:
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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 ofcourse bitcoin is a money , because we can have it on our hands, we can withdraw it, we can spend it , we can buy anything with bitcoins, so it is considered as money, tho we cannot have bitcoins on our hands but we can convert it into real money that we can hold in our wallet 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?
As for me i still wont consider bitcoin as money.
Due to the fact that we cannot yet procure goods and services by directly using our bitcoin.
we still had to convert it to fiat currency in order to use it for trading.
this is why i am not yet inclined to call it as money.
Due to the fact that we cannot yet procure goods and services by directly using our bitcoin.
we still had to convert it to fiat currency in order to use it for trading.
this is why i am not yet inclined to call it as money.
Well bitcoin in the first place is not a money rather a way or another method of getting money. Having a bitcoin let you exchange coin for money. So we could say that bitcoin acts like a item in some games and then exhange it to traders for a money. Specifically bitcoin is a way to earn and exchange money with a bigger value and an easy way to gain money.
Most probably yes! I can strongly say that bitcoin is also money but in different term. It has a charactiristic of money like through online transaction we can exchange it into fiat because it is already acceptable by many merchants, we can make it as our investment same as money is regulating and expect earnings. In addition to my opinion, bitcoin is a kind of money with the most advance and high value.
Bitcoin is Electronic Cryptocurrency .It Is Like Another money for me.
bitcoin has a function like money, but is used in the digital world. bitcoin can be used as a payment but is limited due to legality issues. today bitcoin is more often used as a commodity, which is traded and has a high price.
In the real world we know money as a means of transactions to make some payments where the money in each country has its own rules related to the currency used, so even with the virtual world, they also have a currency that can be used for various transactions such as bitcoin, its function is the same as real money but different is bitcoin is limited in number unlike real money.
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