Topic: Is Bitcoin money? - page 42. (Read 112172 times)
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
Bitcoin has all of the listed functions. It is known that like a dollar that is divided into cents, Bitcoin is divided into virtual coins (satoshi). The transfer of digital money is carried out by sending from one electronic store to another
Yes, bitcoin is money possessing liquidity, serving as a measure of the value of other goods and services. Bitcoin can, like the finest money, act as an intermediary in the exchange of some goods for others
No, it is an investment that can be traded for money, so its worth money, it isn't money. It is an odd thing because it does have potential to actual become currency or money but it isn't there yet. What could make it change when larger companies start accepting Bitcoin as a method of payment, then it will be money.
yes bitcoin is the cryptocurrency 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?
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?
Yes, bitcoin is a kind of money. It is money because you can earn it and buy whatever you want using bitcoin, Also it has a value where people can depend on. bitcoin is kind of money which ha a uniqueness because it is virtual which you can touch it or hold it. It is can see through online but still you can use it to buy things.
Anything can be considered "money" if it has intrinsic value! What gives something value.... what people are willing to pay for it.. Supply and demand.
Yes off course bitcoin is money and you can use it for your daily expanse you can also earn here as well as you can learn here a lot of things so this currencies is all in one and I think everyone need to join bitcoin and make your future bright and I think bitcoin is now a part of my life and I hope bitcoin will be more strong in future.
Bitcoin is a money in digital form a new type of money and can be exchangeable to fiat cash money,and we use it to trade to something that we need and that we called us cryptocurrency we trade using this bitcoin. and also we can be used us a money transfers in different remittance outlet or paypal.
Yes it is and that is why it attracts a lot of people to invest in it because the return of profit is very lucrative. If some people only treat it as an asset then it is their own definition but as long as I can buy something using bitcoin with a specific amount then it is definitely money for me.
Bitcoin has become one of the most affluent cryptocurrency in the word. BTC is digital cryptocurrency and can be exchanged of flat cash money. Those countries who normally have big volume of user like China may have a good development.
Bitcoin is the virtual currency. It has more in common with paypal than with dollars or with gold.
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 a money! Many people are now using bitcoin because it is a digital money. We can now use bitcoin to pay our bills. I know that many stores and businesses will accept bitcoin. 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?
So why is bitcoin not money, if it's already possible to buy goods. At my country already cars sell for bitcoins. Many online stores already sell their goods for bitcoins, and also provide services. Although the laws of bitcoin have not yet been settled.
yes bitcoin is money . money on internet that you need to have some time to focus on .
If we buy something using bitcoin, it means bitcoin is like money. Also Bitcoin can be change to our Country's currency, if we wants.
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?
Of course yes bitcoin is money we all know that this is a digital currency but if you convert it into real money it will called money because you can use this to buy anything .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?
In my opinion Yes, Bitcoin is money because i can buy things i want using Bitcoin of course i need to exchange it first to cash but that is easy to do as long as you have a virtual debit card like wirex. You can exchange Bitcoin to any currency fast and easy and used that virtual card to shop online.
Yes me too, I agree that it is a money, money in the internet that you can use to buy things you wanted online. Bitcoin already help many people, for there financial and everything they need. Some other people tell that Bitcoin make them rich, On the very first place I got really confused about this but when I already know the uses of bitcoin then I was really surprise. Bitcoin can exchange into cash like what they say and that was a very big help for us.
Early birds of bitcoin is damn lucky especially when they still hold until now their bitcoin and sitting on their profit as we know the fact that bitcoin price before isn't that attractive. Bitcoin is money or a currency for me that it help me supporting my financial needs.
In order for a payment instrument to be full-fledged money, it must perform the same functions as ordinary money (a measure of value, a medium of circulation, a means of accumulation, a means of payment, world money).
As can be seen, Bitcoin has all of the listed functions. It is known that like a dollar that is divided into cents, Bitcoin is divided into virtual coins (satoshi). The transfer of digital money is carried out by sending from one electronic store to another. The analog of the traditional wallet has cryptographic protection.
As can be seen, Bitcoin has all of the listed functions. It is known that like a dollar that is divided into cents, Bitcoin is divided into virtual coins (satoshi). The transfer of digital money is carried out by sending from one electronic store to another. The analog of the traditional wallet has cryptographic protection.
Bitcoin functions like money, it can be earned because you can work for it and get paid using it, and it can be used to buy things like how money is used. Also, you can use it for gambling the same with money. But, the thing about bitcoin is it is best when there is internet unlike money that we can use regularly.
In my opinion Yes, Bitcoin is money because i can buy things i want using Bitcoin of course i need to exchange it first to cash but that is easy to do as long as you have a virtual debit card like wirex. You can exchange Bitcoin to any currency fast and easy and used that virtual card to shop online.
Yes me too, I agree that it is a money, money in the internet that you can use to buy things you wanted online. Bitcoin already help many people, for there financial and everything they need. Some other people tell that Bitcoin make them rich, On the very first place I got really confused about this but when I already know the uses of bitcoin then I was really surprise. Bitcoin can exchange into cash like what they say and that was a very big help for us.
Early birds of bitcoin is damn lucky especially when they still hold until now their bitcoin and sitting on their profit as we know the fact that bitcoin price before isn't that attractive. Bitcoin is money or a currency for me that it help me supporting my financial needs.
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