Topic: Is Bitcoin money? - page 9. (Read 112169 times)
This thread is quite old and now that bitcoin has given huge returns over the last 8 years, it is recommended to stay with it. It is now very much equal to money as you can cash in few hours only.
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.
bitcoin is a form of digital money but I can say that bitcoin is money because it is used for currency or exchange of real money and it has a value, for me bitcoin is better than money because he is very valuable and more many bitcoin can do more than money.
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:
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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 me,bitcoin is more than money.It is very valuable and we can use it as payment for goods and services 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.
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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?
It is not a money, like everyone said, bitcoin is a digital currency, asset or commodity. It is not a money but you can trade it for real money. You can consider it as a money online but literally it is not really a money. I am still a newbie when it comes with digital currencies and Im still learning a lot now about bitcoin and altcoins.
Yes, bitcoin is money. Not just a small amount of money, but big amount of money because of its exchange rate in cash. You can buy things and services online or on stores that are accepting bitcoins without giving a physical coin or a dollar because it is cryptocurrency. You can buy or transact with other bitcoin investors, stores, and sellers with ease and less hassle.
It is not a money, like everyone said, bitcoin is a digital currency, asset or commodity. It is not a money but you can trade it for real money. You can consider it as a money online but literally it is not really a money. I am still a newbie when it comes with digital currencies and Im still learning a lot now about bitcoin and altcoins.
Anything that is being used as a medium of exchange is money. Bitcoin, like gold, is money.
No, I cannot agree with this, money is smth different, gold, oil, bitcoin and etc. has its price which is measured in money. So bitcoin cannot be money itself.
As of now, bitcoin become popular and in fact it is used in some transactions especially online. But to attain the status of being a "money" must be stable and acceptable for majority of the people in the world or at least used or recognized by a certain country. Therefore bitcoin is not yet a money but can be use to convert into a real money and besides bitcoin is not yet stable enough to become a money. Though we are hoping that in the future it will be used by the majority.
I do not think that it is money, it is digital asset.
Bitcoin is equivalent to money, it is a protocol, a computer network and so many more.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Bitcoin is a cryptocurrency. It could be use for investment or for online payment But it could be mean money in a way that it mcould be converted into physical 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.
Yes its digital asset in internet but also working as a money like paying any of stuff when we buy online and also offline in country which accept bitcoin.
I think bitcoin is money even better than money, when the value of money remains and does not change, bitcoin value continues to rise following the number of users who also rose.
Bitcoin is equivalent to money, it is a protocol, a computer network and so many more.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Bitcoin is a cryptocurrency. It could be use for investment or for online payment But it could be mean money in a way that it mcould be converted into physical money.
the bitcoin is actually not a money its called commodity the bitcoin is accepted in many countries for goods and sevices we can not use bitcoin for all kind of transactions many people invest in bitcoin for make profit.
Bitcoin is equivalent to money, it is a protocol, a computer network and so many more.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Actually, bitcoin is a digital currency, it can transfer money from one person to another and it doesn’ t have any physical existence but it can be used for payment, in stores who are accepting bitcoins.
It is equal to real money since you can exchange the bitcoin with real money while trading and all, but I think it is better to call it “digital coins”.
Yes bitcoin is a money but it is very unique its the most popular cryptocurrencies in the world i wonder how is that happen and this token can brig you to a successful future so invest now
+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).
Yes, I also agree with your opinion, Bitcoin is not money but bitcoin can be used as a means of payment, and the bitcoin exchange rate is huge, and most people around the world consider bitcoin is a type of digital money and a means of payment.
In my own opinion bitcoin is a money, if we talk about people who are using enternet. Its the other way of sources of income, and for the companies who accepted bitcoin for investment comodity. Bitcoin is a currency and speaking of currency it is money.
I'm paying some stuff with Bitcoin directly so yes for me it is money.
It is truth that Bitcoin and any other cryptocurrency is not technically in the stage where we all could use it as a money, but soon.
It is truth that Bitcoin and any other cryptocurrency is not technically in the stage where we all could use it as a money, but soon.
My answer is if you trade the bitcoin in money maybe want a money because the bitcoin many source in the world, Yes is bitcoin money co'z the amount the bitcoin or value the bitcoin is higher than money/fiat in the world the beautiful ones there use bitcoin in exchange for money even in different countries so it's important or appreciate bitcoin if you can collect them.
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