gold and bitcoin are very different but can be made with money. You can not buy most goods and services with gold. Gold is a commodity, dollars are money.
Bitcoin is the digital currency. It has more in common with paypal than with dollars or with gold.
Topic: Is Bitcoin money? - page 40. (Read 112173 times)
The bitcoin is money, as it can be used to pay for any kind of expense and this is what money can do.
Bitcoin is money for me especially it helps many people to earn and reduces unemployment in bitcoin they have a job and they can pay their expenses through earning on it.Bitcoin can be our second currency in the near future because of its price that increases higher.
Yes, bitcoin is a kind of money which is going to be very popular in coming future.
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?
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?
Yes bitcoin is money because here in bitcoin you can earn money which is also abtcoin. It helps the people in their life because if you are a user of it there is alot of benefit that you can get in bitcoin.
Bitcoin is now the best-performing currency. Keep in mind, Bitcoin is digital and backed by nothing, just like our dollar once we went off the gold standard in 1971. Also keep in mind that Bitcoin does not exist in the physical form like silver and gold.
Practically money, it's not green paper, but it's able to be used as money and has value, so I don't think that many people here will tell you that bitcoin isn't at least similar to money.
Yes. At the time of its invention in 2009, Bitcoin was the greatest form of money the world had ever seen.
Since that time, many other brands have emerged, some with minor improvements. But they all share the same basic properties of the original. So now we can just say that “cryptocurrency” is the best form of money, and this includes Bitcoin.
Since that time, many other brands have emerged, some with minor improvements. But they all share the same basic properties of the original. So now we can just say that “cryptocurrency” is the best form of money, and this includes Bitcoin.
I can say that it is money I even use it in buying thing here outside even without cash I can buy things online pay like a business man with money through online and you can even use for investment to offer and make it a transaction fees.
Definitely bitcoin is a money, it is a money in a sense that it is used already as a mode of payment in some online shopping, gambling or even drugs. Bitcoin is a money but through a online site which is also called digital currency or cryptocurrency. Bitcoin is a money, a digital money rather that can also be converted into fiat to be able to use by anyone in their respective countries like mine.
The definition of money Says: Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. So which of this stuff you cant do with Bitcoin? You can do everything, and thats why it is money.
bitcoin is not money but it is an asset
All we're doing is saying bitcoin as something else other than its economic reality.
Bitcoin is a currency, you use it as a mood of payment in some online shop, like gold and silver you can use it to trade and exchange to fiat , Gold and silver is a currency before government or royalties introduced Fiat because of shorted of both.
I think bitcoin is a money in its own way because it is used as mode of payment on online transactions in selected countries and selected transactions as well. It is a digital currency which is convertible to physical money and therefore be used to whatever transactions you may wish.
Bitcoin is a currency, you use it as a mood of payment in some online shop, like gold and silver you can use it to trade and exchange to fiat , Gold and silver is a currency before government or royalties introduced Fiat because of shorted of both.
I can say that it is money I even use it in buying thing here outside even without cash I can buy things online pay like a business man with money through online and you can even use for investment to offer and make it a transaction fees.
Definitely bitcoin is a money, it is a money in a sense that it is used already as a mode of payment in some online shopping, gambling or even drugs. Bitcoin is a money but through a online site which is also called digital currency or cryptocurrency. Bitcoin is a money, a digital money rather that can also be converted into fiat to be able to use by anyone in their respective countries like mine.
Yes bitcoin is money it is online money though and you can earn it here and you can also invest in it you can just buy one through bittrex or polienex but first know everything about it before you put any money on it and believe in it.
I can say that it is money I even use it in buying thing here outside even without cash I can buy things online pay like a business man with money through online and you can even use for investment to offer and make it a transaction fees.
Definitely bitcoin is a money, it is a money in a sense that it is used already as a mode of payment in some online shopping, gambling or even drugs. Bitcoin is a money but through a online site which is also called digital currency or cryptocurrency. Bitcoin is a money, a digital money rather that can also be converted into fiat to be able to use by anyone in their respective countries like mine. 
Yes, bitcoin is a digital currency that is decentralised, fast, and acceptable worldwide.
On the other hand it is correct definition of BTC. However, currently BTC is investment tool like Gold but not the digital currency for buyings.
I can say that it is money I even use it in buying thing here outside even without cash I can buy things online pay like a business man with money through online and you can even use for investment to offer and make it a transaction fees.
Yes, it will make money when you accumulate a lot of bitcoins. so much money so you need to wait and be patient, so you can buy everything you want, you need to collect all the bitcoins you receive. more bitcoin the more money you get.
Definitely that is the key to grow your money, you need to understand that bitcoin has a limited supply and the demand is increasing resulting to an increase of price. If you are an investor then you should trust bitcoin and consider it as your long term investment.
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