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Topic: Is Bitcoin money? - page 4. (Read 112172 times)

hero member
Activity: 2590
Merit: 644
February 11, 2018, 07:14:50 AM
yes offcourse it is money because you can buy or sell something with btc , and i think it will be more usable than euro or even dollar in next 5 years
If the growth in the price of bitcoin and also the demand then the possibility with bitcoin in terms of being spendable will be bigger and that is how the bitcoin will get its exposure in the market. I am really excited to see that bitcoin is almost accepted in every store so i can just buy all of the things that i want without converting my bitcoin it into fiat.
member
Activity: 154
Merit: 10
February 11, 2018, 05:07:08 AM
yes offcourse it is money because you can buy or sell something with btc , and i think it will be more usable than euro or even dollar in next 5 years
jr. member
Activity: 294
Merit: 1
February 11, 2018, 05:02:26 AM
Bitcoin is a virtual money.Bitcoin used in the buying and selling case online.It is different from all the coins.Bitcoin is very valuable and i think it's worth the price of gold.Bitcoin is a modern currency in online ,which is used to trade and do lot of other things.
sr. member
Activity: 700
Merit: 253
February 11, 2018, 04:13:21 AM
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
member
Activity: 252
Merit: 11
February 11, 2018, 04:00:14 AM
If in the course of its own bitcoin still signed categories money, digital money but only just. But if we users bitcoin wants we use must first Exchange to rupiah through the application tersendirinya. for example, in VIP if for Rupiah market
jr. member
Activity: 56
Merit: 1
February 11, 2018, 03:22:49 AM
bitcoin is money because you can sell it and became a real money. bitcoin is money and bitcoin is a bussiness because you can invest and you can earn bitcoin like a money. bitcoin is like money .Maybe bitcoin is the new money in the future.
legendary
Activity: 1110
Merit: 1000
February 11, 2018, 03:21:58 AM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money Bitcoin money is the future money.  Smiley
Precisely, bitcoin is somewhat can be considered as a money but in a digital way. Unlike a paper money, bitcoin had its dominance in a world of digital. But who would've thought that this kind of digital currency is such a higher value compared to our paper money right. Such an amazing.
copper member
Activity: 252
Merit: 0
February 11, 2018, 02:39:22 AM
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.
newbie
Activity: 126
Merit: 0
February 10, 2018, 09:48:11 PM
    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?





    Yes bitcoin is a money it double triple your money so far as long as you have effort patient work for it so far you can achieve your financial freedom
    jr. member
    Activity: 200
    Merit: 6
    February 10, 2018, 09:37:57 PM
    Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money Bitcoin money is the future money.  Smiley
    hero member
    Activity: 1568
    Merit: 502
    February 10, 2018, 09:24:07 PM
    Still people are thinking Bitcoin as a money or medium of exchange, but basically its not. Its a purely commodity. And value of this commodity can be affect by many factors along with its specification.

    Bitcoin already have proved its importance, existence and value. So we have to learn what is Bitcoin and what are possibilities of use of Bitcoins in coming future.
    jr. member
    Activity: 118
    Merit: 1
    February 10, 2018, 04:00:44 PM
      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?

      I think bitcoin is also a money in a manner that this can be use to purchase things over the internet.Since we all know that money is defined as a medium of exchange in financial transactions between citizens and with government.





      member
      Activity: 392
      Merit: 13
      February 10, 2018, 03:19:15 PM
      This question sounds funny in 2018. It is a digital currency so it definitely is money. You can't use it offline as of now but same thing is with offline currencies. You can't use one country's currency in other (unless you convert).
      sr. member
      Activity: 686
      Merit: 282
      February 10, 2018, 02:57:58 PM
      Bitcoin in many respects fulfills the functions that money should meet. In my opinion, however, it does not fulfill all the functions of money. Therefore, I am reluctant to call him money. I think, however, that money is what money is acceptable. So if in a given transaction someone accepts bitcoin as money, then he performs the function of money for this transaction. However, it is difficult to compare bitcoin with money issued (in the case of Poland) by the NBP.
      member
      Activity: 588
      Merit: 18
      February 10, 2018, 02:35:41 PM
      Bitcoin is an asset and every good things we need to have, and is an a digital currency that is acceptable all over the world and also, we make use of it online buying and selling and more over, bitcoin is more valuable than our local money.
      newbie
      Activity: 36
      Merit: 0
      February 10, 2018, 02:26:06 PM
      I have done work and got paid in Bitcoin.

      I have purchased goods with Bitcoin.

      I save money in a wallet like a money piggy bank.

      All of the above shows it works like money.

      newbie
      Activity: 182
      Merit: 0
      February 10, 2018, 02:23:36 PM
      Bitcoin is a digital offline currency. It is not a symbol of any country but it is the world's most valuable asset. Bitcoin values are above all.
      full member
      Activity: 581
      Merit: 108
      February 10, 2018, 02:06:39 PM
      I like to think of bitcoin to be cash equivalent not really to be money because people treat bitcoin differently because of its vast uses, for instance, people say bitcoin is stock others call it an asset others simply call it digital money but whatever gives btc is still money because it aids the exchange of goods and services.
      newbie
      Activity: 119
      Merit: 0
      February 10, 2018, 01:34:18 PM
      bitcoin is the digital currency because of the currency bitcoin for exchange and conventionally, bitcoin has a very different value than other currencies Grin
      newbie
      Activity: 6
      Merit: 0
      February 10, 2018, 01:19:09 PM
      anything use in exchange of BTC gold and important is money for instance i think god has really made very few value but since prehistocical ages men have noticed the fact that gold could be used as a medium of exchange is money
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