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Topic: Is Bitcoin money? - page 68. (Read 112172 times)

sr. member
Activity: 616
Merit: 252
October 17, 2017, 06:10:39 AM
Stop thinking of bitcoin as something similar to fiat. Bitcoin is store of value. Basically it means that if you buy 1 BTC the purchasing power of 1 BTC is the same (or more) after 1 year.
newbie
Activity: 20
Merit: 0
October 17, 2017, 06:07:37 AM
i think bitcoin is not money . bitcoin is simply bitcoin . money is money . money can buy bitcoin .
but bitcoin and money can buy somethings that i want to buy it .
newbie
Activity: 25
Merit: 0
October 17, 2017, 03:24:46 AM
Technically yes, because it can be used to pay our bills and to buy something like loads, etc.
sr. member
Activity: 951
Merit: 250
October 17, 2017, 03:10:53 AM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Yes. It doesn't matter what nation-states think bitcoin is.

All we're doing is saying bitcoin as something else other than its economic reality.

Anything that can trade goods is money.
i think bitcoin is an opportunity it is not really a money it is a crytocurrency and the simple way to get more money .it is considered as money because we can convert it into money if we  need money to provide our daily needs it is also an investment because if you hold it maybe someday you can also gain profit because of its  unstable price it is really amazing.
newbie
Activity: 13
Merit: 0
October 17, 2017, 12:50:14 AM
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.

Yes. It doesn't matter what nation-states think bitcoin is.

All we're doing is saying bitcoin as something else other than its economic reality.

Anything that can trade goods is money.
hero member
Activity: 2590
Merit: 644
October 17, 2017, 12:40:25 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 it is money instead on virtualworld which can be cash out into real paper
    money
    The only difference of bitcoin in some form of money is, bitcoin is a virtual money and you can just earn it online and the best thing right here, is you can earn it and cash it out in the form of fiat where you can spend it to the malls or stores that you know and buy the things that you really want because you can now afford them all. Bitcoin is also an investment and that is why i prefer bitcoin over fiat.
    sr. member
    Activity: 615
    Merit: 258
    October 16, 2017, 09:04:22 PM
      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 it is money instead on virtualworld which can be cash out into real paper
      money
      sr. member
      Activity: 616
      Merit: 251
      October 16, 2017, 09:01:01 PM
        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?






        I think Bitcoin is a money in the form of crypto currency or money that is being using online. We can buy things online by using bitcoin, we can even pay bill, buy game credits and even top up load for our cellular phones' network.
        sr. member
        Activity: 677
        Merit: 250
        October 16, 2017, 07:39:52 PM
          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?





          for my country today the real money that is still enforced legitimately, maybe I think bitcoin, gold, is a place or means for investment or other words is a place to save with interest income faster and larger, but still a legitimate payment in my country still using the official currency of the government
          full member
          Activity: 462
          Merit: 100
          October 16, 2017, 07:06:27 PM
          bitcoin is the latest discovery in this century, which is very useful for the whole world. digital currency technology is highly trustworthy and has been proven everybody to make transactions, but bitcoin is currently illegal in my country, because bitcoin can not be controlled by the government.
          newbie
          Activity: 42
          Merit: 0
          October 16, 2017, 06:45:00 PM
          Yes Bitcoin is money, we use it to trade to something that we need.
          It is a digital money, that is what we called cryptoCURRENCY, we trade using this bitcoin.
          newbie
          Activity: 42
          Merit: 0
          October 16, 2017, 06:24:49 PM
          It is right, bitcoin is a digital currency, but when we convert it into dollar than no doubt bitcoin make us money.
          full member
          Activity: 448
          Merit: 103
          October 16, 2017, 05:58:21 PM
          No, Bitcoin is a currency employed into electronic entire world as payment to the electronic or online services. But you can converted it into a genuine income, using the other banks that acknowledge bitcoin as forex.
          Bitcoin is not money but it can be change into money. If you. Bitcoin is a digital currency it can be used payment for online services but if you want it is converted into cash..
          full member
          Activity: 2548
          Merit: 217
          October 16, 2017, 05:48:09 PM
          bitcoin as new digital cryptocurrency you can use it to exchange into fiat money, bitcoin as currency are fast movement to increasing with high pirce value in the marketcap and bitcoin is easy to use in the online payment transaction i think for bitcoin and money are the same function use for exchange into goods.
          full member
          Activity: 434
          Merit: 100
          October 16, 2017, 05:31:24 PM
          Bitcoin is money because you can use this to buy a things you want using internet, but you cant touch bitcoin like fiat but it has also a high value.
          The truth is that you cannot touch much of the fiat either, most of the fiat is just like bitcoin a bunch of numbers on a screen, so to me bitcoin is a natural step in a direction we are already going, to move all our transactions online, I have heard that Sweden wants to do this already.
          jr. member
          Activity: 58
          Merit: 10
          October 16, 2017, 07:10:26 AM
          The whitepaper says peer-to-peer electronic cash. So yes, Bitcoin is money, a new kind of money.
          sr. member
          Activity: 588
          Merit: 256
          October 16, 2017, 07:08:50 AM
          what I know of bitcoin is the intangible digital currency but has the same value as the world dollar. On the other hand bitcoin only as a means of exchange or property that can be used with always connected using the internet network. Over time digital bitcoin currency can be used as a very promising investment assets just like gold is widely used as an investment.
          newbie
          Activity: 56
          Merit: 0
          October 15, 2017, 11:13:11 PM
          No, Bitcoin is a currency employed into electronic entire world as payment to the electronic or online services. But you can converted it into a genuine income, using the other banks that acknowledge bitcoin as forex.
          member
          Activity: 68
          Merit: 10
          October 15, 2017, 09:00:29 PM
          i bitcoin is not money , because bitcoin isnot really in life . money is really in life .i think bitcoin is money . bitcoin is simply bitcoin
          member
          Activity: 112
          Merit: 10
          October 15, 2017, 08:53:03 PM
          I would argue that Bitcoin is money and quote your statement and definition where currency is 'a store of value'.  Bitcoin is a store of value because the people have deemed Bitcoin as being valuable.  Obviously the technology that allows bitcoin to exist is the main reason why it has value.  The technology essentially allows you to be your own bank as well as anyone else holding bitcoin and facilities transactions instantly person to person, no middle man with security involved.  

          However back to the main point.  Bitcoin is money because people believe it has value.  Most things have a certain value and most things have been a form of currency at one point or another.  It wide use makes it have a higher value than other forms of currency.

          Personally I am very happy bitcoin is around.  thank you Satoshi and all the other crypto genesises out there who made this possible.  I wholeheartedly believe this will change the world for the better.  People power. pow pow
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