Is Bitcoin money ? - page 2. | Bitcointalksearch.org

kongosplit

member

Activity: 112

Merit: 10

This is the question that I am thinking the most. How it is possible to use something that is on internet. I mean in time I read about bitcoins that many hackers came here and took some ones coins. It is safe?

I read things that are saying wallet matters. I'm using an internet wallet called xapo. It is free and seems to be safe even so I trully have problems with login authentification in order that I'm not having a phone.

But using bitcoins in life this is the question. How we will be able to sell this coins in life?

How we will be using them?

I can not understand. Bitcoins are nice that are annonimus but you can get them only by trading. I heard that years ago you could get them just using your PC. but now adays it is almost impossible.

Personally I tried to get bitcoins by paying users with real cash. In 3 days of activity in the world of bitcoin from 1200 eur traded, i got scamed 800. So yeah. It is good that no one knows anything about an adress.

But going to market and using bitcoins it is almost hilarious for me Cheesy

mindrust

legendary

Activity: 3276

Merit: 2442

Some countries classify it as a commodity but some are classifying it as a currency. It is not clear now.

To me, it is a commodity which can be used as a currency at some places. I think like that because it is not being used commony enough to call it a currency yet. It is like gold but it is being used more commonly than gold as a currency. (at least online, since nobody uses gold to buy something online i guess)

Being a currency and being a commodity is very much different than each other. For example: If you sell stuff for commodities, you don't have to pay taxes. But if you gain currencies. That's a no no. You have to giff some of your shit to the big boss.

Doamader

hero member

Activity: 756

Merit: 501

Well i will be selling a big part of my small portfolio because i do need to make it now, soo sure bitcoin its a payment processor and sure it is money, otherwise we couldnt use its, but we are able to purchase anything into the online wolrd with bitcoin.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: iam2good on October 30, 2016, 01:23:49 AM

Hello everyone,

i am just confused as what classification Bitcoin will fall into, money,stock or commodity?

Bitcoin can be implementing into the various definition but in my mind i can mentioning if bitcoin are the like a goods, but it's in the digital form and like the another goods is having the advantages for the people are wanna for buy them, depending with the situation the definition of bitcoin are can be the currency, stock or commodity at same time or i can say just a goods with various advantages.

davis196

hero member

Activity: 3164

Merit: 937

Quote from: iam2good on October 30, 2016, 01:23:49 AM

Hello everyone,

i am just confused as what classification Bitcoin will fall into, money,stock or commodity?

Bitcoin is money+commodity.Bitcoin can`t be stocks becasue this isn`t a corporation.

I don`t know if bitcoin is more money or more a commodity,it`s something in between,i guess.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Bitcoin is something entirely new and there is no way to classify it for sure because the quick advancement in cryptocurrency technology has surpassed what the laws and regulations have available. It will be hard for the authorities on how to regulate it due to the peer to peer and its decantralized properties. They would have to shutdown the internet to stop cryptocurrencies.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

For me Bitcoin is money because I use it as money. And probably for all other people who use it as a payment method. Afterall it's a cryptocurrency, right? But legal definitions may vary depending from country to country. Some treat is a commodity too.
But this is a question that we can disscus and probably everyone would have it's reasons why to treat Bitcoin as money or not.

Junko

legendary

Activity: 1512

Merit: 1000

In the US, Bitcoin is officially classed as a commodity like gold and oil and covered by the commodity exchange act.

To me personally and I'm sure for many others, it doesn't matter - money, stock or commodity. Bitcoin is a global network and it doesn't care what regional governments have to say about it.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: iam2good on October 30, 2016, 01:23:49 AM

Hello everyone,

i am just confused as what classification Bitcoin will fall into, money,stock or commodity?

first of all why do you want to classify it? bitcoin is open and decentralized so there is no need for classifying it just like everything else that government controls.

besides why not all of the above?
you can use bitcoin as all of them, a currency an investment , commodity ,... and that is actually the beauty of bitcoin and why it is growing so much these days.

mia_houston

hero member

Activity: 1204

Merit: 539

I can say bitcoin is money because for what you earn bitcoin learn more about bitcoin etc'' that for money right..if it does not produce anything for what you play bitcoin

gilangIDR

legendary

Activity: 1526

Merit: 1001

bitcoin can be regarded as money. because bitcoin today can be used to purchase a variety of our needs. bitcoin is also known as a currency substitute, ie digital currency.

Ryananda

sr. member

Activity: 812

Merit: 250

Good question, friend. Maybe if my opinion is more accurately called bitcoin digital currency.
Because bitcoin has such value for money and also fluctuates. And in bitcoin we can invest and trade.

BingoDog

hero member

Activity: 658

Merit: 505

Bitcoin acts like money and we use it as money for paying goods and services. But in legal terms and terms of regulation it is not everywhere defined as money. The problem is that there is no unique attitude towards Bitcoin in that sense.

Seansky

hero member

Activity: 560

Merit: 500

In terms of classification, I think bitcoin will fall into money but not quite since it is virtual money. It is spent on the internet as a medium of payment, and then converted into fiat. I won't say it is a stock or commodity even if it is similar since Satoshi Nakamoto created bitcoin to be a decentralized digital currency meant to be used online to pay safely without exposing identity.

OpenTalkLab

sr. member

Activity: 280

Merit: 250

Bitcoin is same as money only differences between them is bitcoin gives you more benefit than using money.You don't have to give tax or extra fees for using bitcoin.You will be able to send or receive payment within seconds.So, for me bitcoin is same as money with many more options.

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: iam2good on October 30, 2016, 01:23:49 AM

Hello everyone,

i am just confused as what classification Bitcoin will fall into, money,stock or commodity?

It can be all of them it only depends how do you consider it, some people use bitcoin only to purchase things so it is like a regular money.

Some other use bitcoin as an investment and as a good asset which expect a profit after a period of time, personally I consider bitcoin as money as investment as a commodity so I try to spend as less as I can and save bitcoin more and more.

ariesjia

sr. member

Activity: 406

Merit: 250

For me bitcoin is a money as I can buy things online using bitcoins and if I am in need of paper money then I can easily convert my bitcoins to my local currency and can purchase anything that I want, and the best thing about bitcoin is it keeps on growing over a period of time so if you can manage to save good amount of bitcoins then you can expect higher returns from it.

whizter

hero member

Activity: 588

Merit: 500

Quote from: sotoshihero on October 30, 2016, 02:00:30 AM

Yes, I think they are the same as a medium of exchange while bitcoin is a currency that is intended to be used online. Bitcoin is same as money as they have value also that you can used to buy,trade and spend.

yes agree with you bitcoin is money as we can use it for buying selling and for exchange, but it can be use directly both for online trading and also in local markets, it can also be use as property as when the price of bitcoin increases its value also increase.

sotoshihero

hero member

Activity: 850

Merit: 504

Yes, I think they are the same as a medium of exchange while bitcoin is a currency that is intended to be used online. Bitcoin is same as money as they have value also that you can used to buy,trade and spend.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: darklus123 on October 30, 2016, 01:38:10 AM

Quote from: iam2good on October 30, 2016, 01:23:49 AM

Hello everyone,

i am just confused as what classification Bitcoin will fall into, money,stock or commodity?

Money:
something generally accepted as a medium of exchange, a measure of value, or a means of payment:

stock:
the supply of goods available for sale in a store

commodity:
something that is bought and sold

source: http://www.merriam-webster.com/dictionary/

basically based on the definition above bitcoin is any of those but obviously it is a currency, it is a technology so you don't have to confused your self by what bitcoin really is because bitcoin is bitcoin and that's it

This would be the precis answer to your question OP. Because its being mentioned here on what category does bitcoin belong and it shows on 3 aspects and its right in my own perspectives. If i would choose among the 3, i would say its a money hence its a digital currency after all.

Topic: Is Bitcoin money ? - page 2. (Read 1385 times)