Topic: Is Bitcoin money? - page 5. (Read 112172 times)
Money is any thing that can be used to make payment for goods and services. Based on the afore mentioned definition then Bitcoin can be said to be money.Bitcoin has been used to settle dept and services exchanged by 2 persons or companies.
Correctly stated that money is any object that is used to calculate as payment for goods or services. Therefore, the Crypto currency is quite suitable for this formulation of money. On the other hand, a crypto currency can not be a commodity, since it also performs, in addition to the function of a payment facility, also a function of storing value and a measure of value. These functions are not inherent in the product and are only signs of money.
Bitcoin is money, but it's in the form of digital currency. This is the factor making bitcoin different than the conventional money. One can use it as money after cashing it out, or trading it via fiat money.
Hi everyone. They are utilised not only as payment. For regular individuals, they're considered only as payment. For that economy of the country - it is really an important device. Bitcoin doesn't have the capabilities of supporting the economic climate. Therefore, it cannot be called full-fledged money meaning that is available now
Bitcoin should really not be considered as money, because it is a digital currency but there are other online business were accepting bitcoin as a payment or it has been given a monetary value in terms of usage for anything from goods to services. And also it can be termed as an investment instrument or asset or stock that gets traded for the purpose of making profits. Most people nowadays who believe that investing bitcoin can help them to grow their capital and earn more profits of it and having more Bitcoins means having more "money" in your pockets due to its value, but still it cannot be termed as money.
Bitcoin is a digital currency, people call it money here since its description is the same with the function of money and it will confuse some newbie if we call it in another way..wherein you can use it to purchase something or pay something.
According to my opinion you are not supported in other countries; because those countries have a printed country administration. More democratic countries are allowing it.
My openion they are used for transactions like buying things on the internet. The more people who own Bitcoins the rarer it gets.
Bitcoin is like a being, a value that can be transformed into money at any moment.
But at different times there is a different value.
But at different times there is a different value.
It's not just a new generation currency, , it can also be the global currency of the world. Bitcoin's long-term presence showed us superior power over all other currencies. Bitcoin was even under. This is the most obvious example.
For me,bitcoin is money. it gives me money to solve my problem, my needs,my all problem.
Bitcoin is a possible currency, and is intended to be used as an intermediate unit. However, it does not require legal support from any government; So no fiat and now bitcoin be the pros and cons in the middle of government
Bitcoin is a digital currency that we can convert into real money or cash that we can use to buy foods, payment of monthly bills and so on. It can also be used in a direct transaction provided that the users or both parties agreed to accept BTC as a mode of payment.
It is not fiat or money but you can convert bitcoin into cash or money through trading exchange. Bitcoin is virtual currency or digital currency. It is not being controlled by the bank unlike money . Some other shops accept bitcoin but only few.
Bitcoin is kind of money.
Everything which we can convert to money is also money like:gold,shares and other assets. Bitcoin like a asset which has some value and anytime we can convert it into money.
But it has different value at different time.
Everything which we can convert to money is also money like:gold,shares and other assets. Bitcoin like a asset which has some value and anytime we can convert it into money.
But it has different value at different time.
Is Bitcoin money? - Definitely money. Money - a measure of value, capital and funds, which of the above does not apply to Bitcoin? It is not important that bitcoin, at the moment, does not officially have an official definition of money. But for anyone who is familiar with the topic of crypto currency and Blockchain, Bitcoin is more than money.
Of course. Because no one would waste their time just for nothing.
yes I think bitcoin is money, because if we are trading to earn profit bitcoin we can exchange it with regular money and in fact yes bitcoin is digital money that can for payment transactions
It is a sort of money not the actual money because you cannot claim it when it is lost. It is only the virtual aspect of money.
Agree on this. Bitcoin is just a virtual currency, but it can use for some payment of services or things. Bitcoin also has a wallet where you can store your bitcoins. Bitcoin is not physical money compare to fiat, for me, I considered bitcoin as a money because bitcoin has a value.
Yes Bitcoin is money but it is virtual money. It can't be touched with hand , even it can't lend to other by means hand but can be transferred through online. Whatever it is virtual or Real it is kind of money only.
Bitcoin is a digital currency and also you can call Bitcoin as a money you can transferred online if you wish to used it.
Yes Bitcoin is money but it is virtual money. It can't be touched with hand , even it can't lend to other by means hand but can be transferred through online. Whatever it is virtual or Real it is kind of money only.
Undoubtedly, I think that Bitcoin is money. Money of the future. We should not underestimate him, but it is still difficult for many to understand him. 
People feel comfortable with their paper money do not care that many things can not be done with paper money, the value of paper money is always down while bitcoin value continues to rise, should the country care about this so soon legalize bitcoin. 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?
I think bitcoin is similar to gold. Gold is not money, but its value is recognized and can be used as 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?
Now that the value of bitcoin has been recognized by some people, you can exchange bitcoin for cash by trading in bitcoins.
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