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Topic: Is Bitcoin money? - page 89. (Read 112169 times)

sr. member
Activity: 466
Merit: 500
September 02, 2017, 08:38:03 AM
I think that Bitcoin is becoming more and more known but it's not in the point where it can be considered money , you can change them in USD or EUR or other coins , maybe in future when all banks will become friendly Bitcoin , then it will be considered money , but obvious there are online stores that accept payment with bitcoin.
full member
Activity: 336
Merit: 100
September 02, 2017, 08:33:42 AM
Bitcoin and Money are both valuable.. Bitcoin is a cryptocurrency widely used in digital world, it could not be touched,compared to money has its physical composition.. Bitcoin has a larger value compared to money and for me it is much valuable than gold. Perhaps this will be our future money soon.
sr. member
Activity: 868
Merit: 333
September 02, 2017, 08:29:02 AM
I don't think that nowadays we can call Bitcoin money. May be in some countries like Japan, but not at all. I think it will become money when all countries and banks will accept it.
it is still money for us, even if you cant use it in the outside world you are still able to spend your bitcoin or what we so called virtual money or the bitcoin. its the most important thing as long as you can use it to purchase things or anything even through internet it is called money.
hero member
Activity: 994
Merit: 544
September 02, 2017, 08:15:32 AM
I don't think that nowadays we can call Bitcoin money. May be in some countries like Japan, but not at all. I think it will become money when all countries and banks will accept it.

You have a point here.  We cannot call it as money because we cannot use it regularly just like cash.  Though it is like a cash as it can gives us real money but only online.  Japanese are so lucky to have bitcoin as part of their daily lives.  I wish that our country will accepts bitcoin and legalize it. 
newbie
Activity: 42
Merit: 0
September 02, 2017, 08:08:14 AM
I don't think that nowadays we can call Bitcoin money. May be in some countries like Japan, but not at all. I think it will become money when all countries and banks will accept it.
full member
Activity: 372
Merit: 100
Sugars.zone | DatingFi - Earn for Posting
August 31, 2017, 11:26:03 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?





    actually it isn't a real money, however it could be if you convert it. The only thing that differs it to the real money is that you can earn it virtually and tax free, this shows us that we can do other things to earn money in a virtual and reality. Virtual are just codes numbers and more, this may increase or decrease in any time and any moment. But for the real money, it is a fastest and the important way to buy food drinks and more, this can be aquired in an instant just by receiving you salary on your job. But most important thing about this is that you should think first before proceding with a virtual money instead of real money. Because we live in the reality and not in a vertual reality. Cheesy
    no even if you say that it is a virtual money it is still called money. money used in online transactions, even if its just virtual used it is actually money. the question is if bitcoin was money, not physical money, so it is actually a money that can be used by anyone.
    full member
    Activity: 269
    Merit: 102
    August 31, 2017, 11:18:21 PM
    I believe Forbes rank Bitcoin as an asset rather than currency so in that very sense, BTC like your deduction probably isn't considered as "money" at this point of time. The Forbes top 100 richest man ranking might shift a lot if they do take currency coins into account!

    I would rather look at the available uses rather than on that rank. BTC is indeed an asset but it does not mean that people holding BTC are not really spending them. Yes, most are only keeping them as treasures for the value to grow overtime but many are spending them as well. I myself spend my bitcoins for stuff such as payment for various bills.
    full member
    Activity: 322
    Merit: 100
    August 31, 2017, 11:10:37 PM
    I believe Forbes rank Bitcoin as an asset rather than currency so in that very sense, BTC like your deduction probably isn't considered as "money" at this point of time. The Forbes top 100 richest man ranking might shift a lot if they do take currency coins into account!
    member
    Activity: 92
    Merit: 10
    August 31, 2017, 11:00:42 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?





      actually it isn't a real money, however it could be if you convert it. The only thing that differs it to the real money is that you can earn it virtually and tax free, this shows us that we can do other things to earn money in a virtual and reality. Virtual are just codes numbers and more, this may increase or decrease in any time and any moment. But for the real money, it is a fastest and the important way to buy food drinks and more, this can be aquired in an instant just by receiving you salary on your job. But most important thing about this is that you should think first before proceding with a virtual money instead of real money. Because we live in the reality and not in a vertual reality. Cheesy
      sr. member
      Activity: 728
      Merit: 250
      August 31, 2017, 10:14:03 PM
      Bitcoin is a virtual currency. i think, when it is accepted more widely as payment for goods and services. then,we should call bitcoin  as money.

      Therefore since it is a virtual currency, bitcoin is money.

      And it is not just a money, there's a lot of use for bitcoin. Trading , investment, asset or name it that I didn't mentioned.

      But perhaps this is the main reason why bitcoin can not be defined according to the original concept of money. Money can only be used to acquire goods or services through a currency to which the community assigns a value equivalent to that of the good. But bitcoin is much more than that, and even its possibilities are widened more when we understand bitcoin as a byproduct of the blockchain, a situation that adds more complexity to the definition of bitcoin in financial terms. Perhaps it is something so novel in the history of humanity that there is not yet a suitable term that defines it perfectly ... well, maybe there is only one word that can define this: Bitcoin.
      Bitcoin is money but it can be a lot more, that is why a lot of people have problems defining what is bitcoin, since bitcoin can be a an investment, it is also a new technology and can be used for a lot of stuff, if I remember correctly smart contracts are also possible on bitcoin but its is more difficult to create them compared to ETH.
      full member
      Activity: 476
      Merit: 102
      August 31, 2017, 06:55:52 PM
      Bitcoin is not considered as money. It because bitcoin is unknown source and the only used of it is for digital transaction. You can used it to buy anything but you need it to exchange in fiat.
      hero member
      Activity: 854
      Merit: 500
      August 31, 2017, 06:43:29 PM
      I believe bitcoin is convertible to what we usually accepts as money, in our country, I assume bitcoin cannot be directly use to buy goods or services, it needs to be instored in a onlinewallet and convert it to banks to yield the so called acceptable money. But I heard proposals that can directly use bitcoin so I guess sooner or later this can fully be the money we can use on our daily basis.
      yes bitcoin is money we can get money when we  converted our bitcoins in our wallet to the currency that we like. it gives oppurtunities in many people and it gives work to those people that havent . it is now the source of income in many people so that bitcoin is money theres no doubt it is a money indeed.
      full member
      Activity: 244
      Merit: 100
      August 31, 2017, 06:23:37 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?





        Obviously bitcoin is a new kind of money and it is the latest technology where you can send monkey n all over the globe with just a second but as it become popular in the globe the bitcoin transacrion become slower and takes hours and even days before the transaction become complete but still it is a currency and money in the future.
        member
        Activity: 126
        Merit: 11
        One of a kind
        August 31, 2017, 06:20:49 PM
        I believe bitcoin is convertible to what we usually accepts as money, in our country, I assume bitcoin cannot be directly use to buy goods or services, it needs to be instored in a onlinewallet and convert it to banks to yield the so called acceptable money. But I heard proposals that can directly use bitcoin so I guess sooner or later this can fully be the money we can use on our daily basis.
        full member
        Activity: 434
        Merit: 100
        August 31, 2017, 06:05:38 PM
        Bitcoin is better than money. Its a way for us to take control of our money without any government or third party involvement.
        Yes you are right. This is something superior to money. For many people it is the reason they can earn money. And I am one of them. Bitcoin is not just a money it is better than that. Money cannot be controlled easily but through bitcoin we can have control over our money. So the thing that keeps safe is always better than that to be kept safe.
        I would not say that bitcoin is superior to money I will say that bitcoin is the perfect form of money and with the new improvements that has been done on bitcoin then I think bitcoin has improved even further which is incredible.
        sr. member
        Activity: 658
        Merit: 268
        bullsvsbears.io
        August 30, 2017, 11:30:05 AM
        Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
        Yes eventhough it is in the virtual world we can still accept is as a money because bitcoin gives you the power to buy things that you want in your life and by bitcoin you can used it as payment for that thing. sometimes tou just only need to convert it first into fiat so that when someone ask you about it you can proudly say that bitcoin is a money because without it you wont have that money in your hand or in your wallet.
        hero member
        Activity: 3150
        Merit: 636
        DGbet.fun - Crypto Sportsbook
        August 30, 2017, 11:17:06 AM
        Bitcoin is a virtual currency. i think, when it is accepted more widely as payment for goods and services. then,we should call bitcoin  as money.

        Therefore since it is a virtual currency, bitcoin is money.

        And it is not just a money, there's a lot of use for bitcoin. Trading , investment, asset or name it that I didn't mentioned.

        But perhaps this is the main reason why bitcoin can not be defined according to the original concept of money. Money can only be used to acquire goods or services through a currency to which the community assigns a value equivalent to that of the good. But bitcoin is much more than that, and even its possibilities are widened more when we understand bitcoin as a byproduct of the blockchain, a situation that adds more complexity to the definition of bitcoin in financial terms. Perhaps it is something so novel in the history of humanity that there is not yet a suitable term that defines it perfectly ... well, maybe there is only one word that can define this: Bitcoin.

        We can still define bitcoin according to the original concept and definition of money.

        With your meaning that money can be used for buying goods and services, what do you think about bitcoin?

        We can't only use it for buying goods, yes physical goods and even digital goods and services.

        It serves also as an investment.
        full member
        Activity: 588
        Merit: 100
        August 29, 2017, 10:17:28 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 I love bitcoin because bitcoin gives life to me.I will not regret of having bitcoin wether I encounmtner a bad manager that he did not include me on the list.I know people are not the same.I can encounter also a good and responsible for his work.That can help me grow in bitcointalk so that  I will reach my goal towards the aim of bitcoin for the prosperity of bitcoin user.
          full member
          Activity: 420
          Merit: 100
          August 29, 2017, 10:16:46 PM
          yes of-course Bitcoin is money, Not only money it is a great valuable money that create a great market capitalization and huge market of bitcoin. Bitcoin is also a money that is not touchable but great valuable, there are so many companies are accepting bitcoin widely and banks also start to accept bitcoin as a currency, So bitcoin is a money.
          full member
          Activity: 672
          Merit: 105
          August 29, 2017, 10:08:42 PM
          Bitcoin is a digital currency that is not tied to a bank or government and allows its users to shop without revealing their identity. These coins are created by users who "mine" their currency by lending computing power to verify other user transactions. They accept bitcoin in return. These coins can also be bought and sold by exchanging local currency.
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