Topic: Is Bitcoin money? - page 61. (Read 112172 times)
Bitcoin is money because it is a universal ledger that keeps track of debt. This is what money is and that is what accomplishes amazingly. It's immutable decentralized consensus network is the reason.
Bitcoin is a ditigal currency that we can use to transact online and also you can easily convert it into fiat money which we can be more convenient to you. Bitcoin is my great source of money, it is a money generator for me simply because they allow me to make big money even just working online, and this is really a great opportunity for us.
Bitcoin is an electronic currency. I think It is a Money making Machine. we are not able to use Bitcoin in our daily purpose.
so it is not wise to say that BTC is a money. Its need to be established more and I think it is not possible that BTC will replace the place of money.
Of course bitcoin is still money. A kind of crypto currency and digitized money at the same time that can be kept in wallet transaction by the use of internet. You can change it in fiat after it has been transacted to your account. After fiat, you can simply cash out and it turned into real money a physical money to be exact. So they are just the same only that it is modernized way to earn it using our technology. so it is not wise to say that BTC is a money. Its need to be established more and I think it is not possible that BTC will replace the place of money.
Bitcoin is an electronic currency. I think It is a Money making Machine. we are not able to use Bitcoin in our daily purpose.
so it is not wise to say that BTC is a money. Its need to be established more and I think it is not possible that BTC will replace the place of money.
so it is not wise to say that BTC is a money. Its need to be established more and I think it is not possible that BTC will replace the place of money.
If bitcoin is money, go to your local bank and try to deposit and let us know what they have said? As I have never heard that a bank accepted bitcoin deposits, it appears to be no money in that sense.
What is it then? A digital value storage with the function of money.
It's not necessary to go to banks in order to use this money as even without the bank bitcoin has it's value and we all consider it as money.What is it then? A digital value storage with the function of money.
This is a store of value that's why people love to hold this for long term because the value will rise overtime, it's not like paper money that when there is a bigger demand the bank can easily print paper money again, bitcoin is based on limited supply that's why the price keep rising as demand is increasing.
If bitcoin is money, go to your local bank and try to deposit and let us know what they have said? As I have never heard that a bank accepted bitcoin deposits, it appears to be no money in that sense.
What is it then? A digital value storage with the function of money.
What is it then? A digital value storage with the function of money.
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.
You could say that since bitcoin can be use as an medium of exchange,I cosider bitcoin as money you can make transactions online buy things and get services and do trade as well as invest.So we can cosider it as money.
Bitcoin is a new generation of decentralized digital currency, created and operated only in the Internet. No one controls it, currency issuance occurs through the work of millions computers around the world, using a program to calculate mathematical algorithms. This is the essence of 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:
[/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?
Based on my research bitcoin is a decentralized and bitcoin is a digital cryptocurrency that have a value in real money so that's why many people got interest to use this becuase they know that someday they 'll get a lot of 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?
Bitcoin is money definitely. It will take some time before we will use it in our daily lifes for daily purchases. For now I use it for trading, investments and sending money to my family members who are living abroad. By doing this I can avoid paying additional fees and save some time. Mining is also a new way to earn some money, it didn't exist before Bitcoin was created.
For me bitcoin is commodity. Where, i can use it to make money from trading or other things. Less precise if considered as money. Because some countries deny bitcoin, which means for some country bitcoin isn't money.
Yes Bitcoin is a form of digital money that has a really bright future ahead. It provides us fast and cheap online transactions. Demand for Bitcoin is increasing among the people and one day it will be as popular as fiat money .
Money is money, whether digital or physical, as long as you can buy things from it and it is accepted as a valid form of acceptance in exchange of things, then it is money and bitcoin of course is real money, no second thoughts on this.
Bitcoin is not money, bitcoin is higher than money
Abundance is not beneficial to the rulers for the people, in this case, they will not be able to control them
The Fund should be, but money is evil, at the dawn of time people have cut down all the food that was free to sell his and have power over others thereby
Bitcoins is a new digital form of money. Money is now become old. Bitcoin makes a life easy. As it's is globally accepted. We can transfer our money from one country to another easily in form of bitcoins. Bitcoins enables us easy transactions and freed us from heavy taxes and interest and fees deducted by banks and transferring money portals. Bitcoin is now become an investment too, many people are investing in bitcoins. And since the birth of bitcoin in 2009 it's prices are skyrocketting. And it is may estimated that bitcoin price will be reaching you more and more high.
Bitcoin has no any real value, a bitcoin is equal to 1. Wasted electric energy, in 2. a wasted hardware that tried to find a sha256 ... Basically bitcoin is a non sense thing...
Unlike gold, you can't use a bitcoin to make something out of it, doesn't have any real physical use or a real electronic use like ethereum.
So what is bitcoin? A pyramid like company.. The more people coming in , more the profit for the first who started the company...
Unlike gold, you can't use a bitcoin to make something out of it, doesn't have any real physical use or a real electronic use like ethereum.
So what is bitcoin? A pyramid like company.. The more people coming in , more the profit for the first who started the company...
Bitcoin is one type of cryptocurrency. And yes, bitcoin is one equivalent of electronic money. Bitcoin is very useful because it is easy to use and easy to understand on how to use it. Bitcoin's value is high and this is why people want it. The demand for bitcoin is still increasing because of the number of users is also increasing. Bitcoin is still in the process of expanding and that is development. It is also possible in the future that bitcoin will be legalized due to the importance of legality of stuffs that has high value.
original bitcoin is a threat to the banking system, people will stop using banks 
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
I think that's a good idea, well on my own perspective I think k bitcoin is money in the sense that we may acquire something from it that we can use essentially, and money is defined as exchange, it only comes that bitcoin is a medium of payment but the reality that it can give us profit we can already conclude that the is money for us to use.
if the cryptocurrency will turn into money, then sooner or later its price will cease to grow, will be the like dollar, all new contributions the authorities will take away for themselves
Jump to: