Is Bitcoin money? - page 65. | Bitcointalksearch.org

Marble777

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Quote from: chaord on September 21, 2010, 12:46:20 PM

+1 agree that it is not money. However, if it was a pure commodity then it would necessarily require some (even minimal) use value, beyond an exchange value. Right now bitcoins have a 0% use-value and a 100% exchange value (eg, if they could not be exchanged for something else, they would merely be taking up space on our harddrives and are inherently useless, like random chunks of data).

But even if Bitcoin's exchange rate does not mean that bitcoin is not money, if I think Bitcoin can also be used to buy some of the things we want, maybe not many companies are currently developing their business to make payments with Bitcoin. But that's just my assumption, correction if I'm wrong, because we all also learn together.

ongels

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My own idea about bitcoin, Its a money that is used in digital world, It has no form unlike paper money that could easily scratch. In its historical background bitcoin is used in a black market to process illegal transactions, but as the time goes by, It was rapidly influence the mass because of some special features about it, then they found out that it brings good opportunity to everybody, so they tend to do something to earn money using btc.

Questat

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Quote from: dansmith_99 on October 18, 2017, 08:46:38 PM

Bitcoin is a currency in my opinion. I think people will recognize it as a currency as the world starts to understand and adopt it.

Eventually they will have the interest to understand and adopt on it when big merchants are adopting bitcoins.
It's not easy to understand bitcoin when they are interested on it because information are free to access and it's very simple to understand.
For now, we should be happy with the progress and for sure it will be a mainstream in the future.

FRJ

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The Worlds Most Advanced Distributed Computer

Bitcoin is better than money.Bitcoin is a modern currency.As it is not legal in many coyntries,it's taxfree.The price of bitcoin is very much higher than money.The price is rising day by day.You can invest BTC and get a huge profit.So,it can be said that BTC is oviously better than money.And it's security system is also better than bank as well as money.

stanisl

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It is a fairly new engineering, and with a lot of elements that need to have to be far better defined. But for me it is distinct the reality that Bitcoin is funds. In addition to getting decentralized, and having a far more productive issuance than centralized currencies, there are thousands of individuals employing Bitcoin each and every working day, be it to store price, or to pay payments and get items.

dansmith_99

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Bitcoin is a currency in my opinion. I think people will recognize it as a currency as the world starts to understand and adopt it.

Distinctin

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No dream is too big and no dreamer is too small

Quote from: hyunee on October 18, 2017, 05:34:07 PM

Yes. I believe bitcoin is a money. Since it is a currency which we also use for different transaction and could also use for trading, investing and everything that is business related. I think if we use that with these things we can consider is a money. As well as this is a type of currency which is online currency.

It has a value so it's a money, we can trade it and buy online using bitcoin so there is no difference with money.
Bitcoin is valuable because we also consider it as our investment and we are happy seeing it the value growing, this would continue of course and we will earn enough profits that could change our lives.

hyunee

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Yes. I believe bitcoin is a money. Since it is a currency which we also use for different transaction and could also use for trading, investing and everything that is business related. I think if we use that with these things we can consider is a money. As well as this is a type of currency which is online currency.

klarafranko

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There is a need to sharpen strategic focus.

As I read on https://topbrokers.com : ''cryptocurrency, at its most basic is a form of online currency which is virtual and cannot be converted into physical currency''.
For me the main word in this sentence is ''currency''.
Nowadays BTC is a virtual currency. Money is also a currency. So, BTC is a currency like money.

Olatunjex

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Yes, it's money in this part of the world. It can be exchange to fiat anytime you wish to

oscarrsm

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Bitcoin will become money when 2-way crypto bankomats will spread everywhere in your country

xandriel

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Quote from: DenGreen910 on October 18, 2017, 12:55:04 PM

Quote from: Gavin Andresen on September 21, 2010, 12:41:46 PM

I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

I totally agree with you because if you can pay for literally anything with btc that means that btc is kinda money

Yes, So do I. You can use Bitcoin to buy and sell goods that means Bitcoin has value, Bitcoin can transfer with normal money through exchange rate. If Bitcoin could not be called money, what will it be called, huh? Cheesy

DenGreen910

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Quote from: Gavin Andresen on September 21, 2010, 12:41:46 PM

I believe that the statement: "bitcoin is new kind of money" passes the duck test.

Bitcoins function as money (they're a unit of account, a medium of exchange, and a store of value), and if PayPal started allowing Bitcoin transactions tomorrow I'm certain they'd treat them as Just Another Currency.

If you like, call it a commodity, but I think all you'll accomplish is confusing potential users who might think they'll end up getting pork-bellies delivered to their porch if they don't get rid of their bitcoins.

I totally agree with you because if you can pay for literally anything with btc that means that btc is kinda money

gkosyak

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Quote from: Reid on October 18, 2017, 12:15:07 PM

A currency which had become an investment.
Seriously? Because of the small number of bitcoin that will be around it will become so valuable and we will be fighting to get our hands on one of it.
Actually it is happening now. It grew to a price which is unthinkable and will grow more as time flows by.
We might not be feeling it as a currency now but I am still looking forward for that day to come.

will not the total bitcoingold be added to bitcoin?

gkosyak

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Quote from: Timoteus on October 18, 2017, 11:50:02 AM

BTC like oil,has a price on his own

All known that's like gold. and other altcoin is another metal

Reid

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A currency which had become an investment.
Seriously? Because of the small number of bitcoin that will be around it will become so valuable and we will be fighting to get our hands on one of it.
Actually it is happening now. It grew to a price which is unthinkable and will grow more as time flows by.
We might not be feeling it as a currency now but I am still looking forward for that day to come.

Dico88

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I agree that bitcoin is digital money because we use bitcoin to buy the things we need and we really want and sometimes some people use bitcoin to pay their bills in their homes. I usually use bitcoin to buy in my online game. Cool

Timoteus

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BTC like oil,has a price on his own

hamza987

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yes offcourse it is money because you can buy or sell something with btc , and i think it will be more usable than euro or even dollar in next 5 years

Jackblack90909

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I haven't any doubt that Bitcoin is really money. We can use Bitcoin to buy and sell online and it is already supported by many marketplaces and even legalized in some countries.
I even think that it is better than the fiat currencies in many ways.

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