Topic: Is Bitcoin money? - page 41. (Read 112169 times)
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.
Yes, bitcoin is a digital currency that is decentralised, fast, and acceptable worldwide.
Such a nice article. I just register this forum couple of days ago. And try to understand about Bitcoin, Cryptocurrency and Blockchain. This article really help me to know about bitcoin. Thanks again. 
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Bingo!
While some people call bitcoin a "currency", it is not a currency of real meaning because it is not issued by the monetary authorities and does not have the monetary properties of legal compensation and mandatory. In nature, bitcoin is a certain kind of virtual commodity, which does not have the legal status of equivalent to the currency, and cannot and should not be used as money in the market.
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?
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?
If its money then governments will want to shut it down eventually, if not it will act as digital gold then it might be fine.
Bitcoin is an investment that can converted into cash. As long that you have a bitcoin you can withdrew it anytime you want. But spend your money wisely.
Yes. Because, you can use btc for buying or selling something same like money. The different is that, the money is using in real life and bitcoin is used for online things.
Bitcoin is not in physical form, but has all the functions of money, we can use it to buy things in online stores, we can use it to pay and invest in any business, and in the concept of money it doesn't matter how many peoples really use it as money
Yes, Biticoin is certaily a kinds of money. Whatever you can use for payment, it is the money
Bitcoin was created to be a currency peer to peer digital currency.
Aside from that it is also created to use as mode of payment while solving the financial issue on fiat money being controlled and manipulated by finance institution. Though I can't find any difference since Bitcoin is also manipulated by whales. The difference is the other one has the consent of the government while Bitcoin has none.
When bitcoin can be traded for all these other types of fiat monies (USD, GBP, KRN, on and on) then you have to consider it money. Do you consider gold money? It has pairing with these as well. If you consider bitcoin to not
be money then you must apply the same logic for gold. If you consider gold to be money you must apply the same logic to bitcoin. It works one in the same you cant have both sides of the coin that is literally stupid as hell.
be money then you must apply the same logic for gold. If you consider gold to be money you must apply the same logic to bitcoin. It works one in the same you cant have both sides of the coin that is literally stupid as hell.
Bitcoin is more than money
Bitcoin was created to be a currency peer to peer digital currency.
i became a member of in a resources marketing campaign and personal camping yet it's small income but it can benefit you on your daily needs, theres lots of ways to make money here in bitcoin, i offer artist that will pay on bitcoin, i did previously commit bitcoin in bittrex my buddies said it had become a legitimate site that you can generate instant cash, gambling in satoshi miines but it's so risky if you dont have good fortune within your body and trading buy low and sell higher.
I'm not a smart person but I have much time for working, so I decided to working in bounty campaign and this my good place to make money, though this field doesn't give me much money like others.Note: We are discussing about the definition of Bitcoin. You are mistaken to say about the method can make money through Bitcoin, lol.
Yeah you can call it as international crypto currency....it has to be converted into traditional money and then we can use it to buy liabilities or assets..
if PayPal starts allowing Bitcoin transactions. they will treat bitcoin as Currency. If you like it, call it as a commodity.
Basically if you see one side, bitcoin is a virtual moeny over internet to be a payment method, but in other hand, i think a currencies is called money if it had a real physics taht you can touch or throw it some where like coin etc
I think it can be considered as a money since you can exchange it into real cash, so I guess we can call it online money. The good thing about it is that, we can actually use it to buy online or make online payments, which is more convinient and easier for everyone. Now it is called online momey but in the future I think it is gonna be known as the money.
Bitcoin can never be money, but bitcoin can be as gold as gold in the future, so bitcoin can be equal in some ways to money. look forward. Bitcoin will not let us down.
i became a member of in a resources marketing campaign and personal camping yet it's small income but it can benefit you on your daily needs, theres lots of ways to make money here in bitcoin, i offer artist that will pay on bitcoin, i did previously commit bitcoin in bittrex my buddies said it had become a legitimate site that you can generate instant cash, gambling in satoshi miines but it's so risky if you dont have good fortune within your body and trading buy low and sell higher.
Jump to: