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Topic: Is Bitcoin money? - page 57. (Read 112169 times)

member
Activity: 112
Merit: 10
October 27, 2017, 03:22:06 PM
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.

Given this statement... What is your argument that bitcoin cannot possibly be described as money? and why would it be a disservice?

Your basically saying that bitcoin is not a medium of exchange.  So then what is it?
sr. member
Activity: 392
Merit: 292
October 27, 2017, 03:10:30 PM
I would have to say that Bitcoin is definitely money. I use it to buy games and other things online. Just like MC.
It is definitely money alright, buying things online is the first step of it. Well I heard that Bitcoin are now accepted as payment in universities for tuition that is. Also to those counties that have already accepted it as their own currency; their government let some privileges in using Bitcoin.
sr. member
Activity: 388
Merit: 250
October 27, 2017, 03:17:09 AM
I would have to say that Bitcoin is definitely money. I use it to buy games and other things online. Just like MC.
legendary
Activity: 2646
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October 27, 2017, 03:03:57 AM
Bitcoin got into usage as storage token, when the usage increased it also got increased market value. This eventually grew and termed to be a multipurpose asset. Later little be little the illegal usage decreased and the importance as an investment and currency increased. Now as market acceptance has been increasing people consider it as currency similar to paper money.
newbie
Activity: 38
Merit: 0
October 27, 2017, 02:57:50 AM
Bitcoin is being regulated by actual money, you can pay for stuff with bitcoin, you can save bitcoin to sell it for higher price - for me it seems like an actual money-type currency.
full member
Activity: 336
Merit: 100
October 27, 2017, 02:53:37 AM
For me, I'll say yes because bitcoin is a kind of payment for us to buy things. Sooner or later bitcoin will become the required payment for any online transactions. You just have to trust in it.
member
Activity: 75
Merit: 10
October 27, 2017, 02:53:20 AM
Well I consider bitcoin as money. First, we can earn bitcoin just like money, right? Second, we can use bitcoin to buy things online, for example, I always use my bitcoin to buy cellphone load. Lastly, bitcoin can be used in gambling, well we don't call it gambling unless we use money to do it.
full member
Activity: 266
Merit: 106
October 27, 2017, 02:50:57 AM
Definitely, some believe that its bond which causes some people to a luxurious life or millionaires. Bitcoin isn't really the money, it causes money to the members or staffs that is making the sight stable and high rate.
hero member
Activity: 1316
Merit: 407
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October 27, 2017, 02:31:43 AM
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.

+1 agreed.  It's a commodity, a digital store of value.

Bitcoin is a money but you need to work for it to become money. Bitcoin gives you a chance to earn in high profitable income all you need is to campaign. Bitcoin is money gives you oppotunity to become rich.

I agree that bitcoin is money. For me its is online money, instead having it in your pocket like real money. If you work hard and collect bitcoins. You can sell them and get your real money.

Collect them and save them, because bitcoin has the potential to go to 40k in the future.

I see bitcoin as another currency of exchange, only with the differential of being digital and that provides great changes in the everyday of society.
newbie
Activity: 24
Merit: 0
October 26, 2017, 04:43:59 AM
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.

+1 agreed.  It's a commodity, a digital store of value.

Bitcoin is a money but you need to work for it to become money. Bitcoin gives you a chance to earn in high profitable income all you need is to campaign. Bitcoin is money gives you oppotunity to become rich.

I agree that bitcoin is money. For me its is online money, instead having it in your pocket like real money. If you work hard and collect bitcoins. You can sell them and get your real money.

Collect them and save them, because bitcoin has the potential to go to 40k in the future.
full member
Activity: 798
Merit: 109
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October 26, 2017, 04:43:52 AM
It is money also but a digital form of money not like our physical money that can we touch or hold or maybe we can count one by one. By using of internet connection we can used that kind of money. Using that money we can across the world in paying where ever you want as long as they adapt bitcoin in their country. Thats what bitcoin do more than a money a high tech generation.
full member
Activity: 284
Merit: 100
October 26, 2017, 04:36:27 AM
    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 is a digital currency and also called as a cryptocurrency. It is used as money or a payment through online transactions and it can also be used as a payment in local stores and it can also be converted into money through remittance centers.
    Zrs
    sr. member
    Activity: 299
    Merit: 250
    October 26, 2017, 04:27:01 AM
    in my sense,bitcoin is money but in a digital form.unlike othet money, bitcoin is not touchable.but bitcoin produce mobey.you can earn a lot from bitcoin by selling it.so in that sense of view,bitcoin is money✌.
    full member
    Activity: 360
    Merit: 100
    October 26, 2017, 03:57:29 AM
    Somehow it is a kind of money, specifically an online money. To consider something as money, it needs to have the following characteristics:

    1. You should be able to use it as payment in buying something.
    2. It can be transacted to different money related services.
    3. You can earn it, or the jobs you take pays it as compensation
    4. It can be kept as savings and can be invested.

    That is why I consider bitcoin as money.
    full member
    Activity: 291
    Merit: 101
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    October 26, 2017, 03:51:12 AM
    yes ofcourse bitcoin is money, anything that acts as a medium of exchange can be considered as money, but unlike other medium it is based on the internet and made by complicated form of algirithms that allows safe transaction to happen.
    newbie
    Activity: 34
    Merit: 0
    October 26, 2017, 03:15:13 AM
    Personally i considered bitcoin as a money in the internet world.
    bitcoin can be use on purchasing something online,
    other people get paid using bitcoin.
    So therefore bitcoin is money, currency, wealth, investment etc...
    full member
    Activity: 798
    Merit: 121
    October 26, 2017, 02:56:33 AM
    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.

    +1 agreed.  It's a commodity, a digital store of value.

    Bitcoin is a money but you need to work for it to become money. Bitcoin gives you a chance to earn in high profitable income all you need is to campaign. Bitcoin is money gives you oppotunity to become rich.
    sr. member
    Activity: 588
    Merit: 257
    October 26, 2017, 02:52:58 AM
    Money is any generally acceptable medium of exchange between two people.
    It is a way for a person to trade what he has for what he wants.
    It serves as a medium of exchange and have some economic value.
    In barter system goods were exchanged with goods, later on gold, silver i.e. precious metal coins were used as money.
    Currency notes came in circulation from more than 150years.
    After digital revolution many new modes of payments get introduced like digital money.
    Bitcoin is the most latest and most advanced mode of exchange or currency.
    It possess all the functions of "money". It serves as a independent, transparent and most secure medium of exchange.
    Transaction time is much less due to lack of any mediator.
    It has no barriers of countries so it get widely accepted within short time span.
    member
    Activity: 140
    Merit: 10
    October 26, 2017, 02:27:17 AM
    Its a kind of soft cash Smiley
    full member
    Activity: 210
    Merit: 102
    October 26, 2017, 02:26:31 AM
    Of course bitcoin is money since you can buy something directly with bitcoin, and the best thing is that we can have total control on our funds and we have our own bank in the form of bitcoin wallet which is accessible to us 24/7 and our money keeps on growing even if we simply hold it for a long term. but at the end it's not actual money, it's more something you invest in which can make you earn real money.
     
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