Is Bitcoin Money or Currency - page 12.

sangungaji

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

I think it is both, money and currency, it is also a payment system. The Bitcoin is the future technology.

Fear

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Even in this circumstances, we still need to keep both payment currencies including cash and digital money because the last one cannot be easily used in our everday life. That is the reason we excahnge bitcoin into fiat.

Gondwanaland

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

In my perspective bitcoin is both money as well as a currency. Because bitcoin is what we called a crypto currency or a digital currency which means that it is intangible or we cannnot touch. Bitcoin is a new kind of money which you can used it to pay the things in our world.

Andrej Peiboski

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It is an old question, and it seems that no one has yet found a satisfactory answer. The truth is simply that at the moment the crypto are still too unstable and too little accepted by the public to be seriously used as money. In the future, it will probably be different, but for now it's too early.

arturagacinsk

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Of course, there are crypto-currencies. They describe the modern economic system much more accurately. Traditional money must remain in the past along with the system that they have built

KrishaBitcoin

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W12 – Blockchain protocol

Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

I think both money and currency are the same characteristics description for Bitcoin in which can be use as a coin for spending that is why the coin is in the tip of Bitcoin in which we can use it for actual spending in some establishments then represent as currency too in which classified as belongs to digital currency. Like the dollar in which we will use it as a money for actual spending but its represent too as currency for a certain nation like the USA.

squog

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ANONYMOUS MOBILE PAYMENTS

In my understanding... Bitcoin is money being that all money is currency. Bitcoin is one of the many crypto currencies that we can use. Same thing as japanese yen being one of the fiat money that we want to abolish. Then again, i dont know much about these things. Take it with a huge grain of salt.

yahamidu

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

I think bitcoin is currency, it is crypto currency. the bitcoin is not real money.

h31s3nb3rg

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

Just a noble opinion , I think bitcoin belongs to currency . I've noticed some factor why i considered bitcoin as currency based on the description given above , first bitcoin is not a medium of exchange and lastly it is a system of money but not specific in any particular country and bitcoin is a digital currency so i really consider it as currency.

Sabana1952

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Bitcoin is money because is a global transactions.

mstfprcn

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Simply , both because both are equally viable, money is a global transaction tool and the bitcoin currency is not global, only people who work in bitcoin are using it, but bitcoin currency could be a global transaction tool if it is in exchange for money.

dekafee79

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

I think the bitcoin is both, money and currency. Its a crypto currency that is used as money. bitcoin can use to investmeny also payment system. it is my opinion.

BitProCoin

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Bitcoin refers to two things: Bitcoin is a payment network similar to Mastercard or Paypal, and bitcoins (the currency) are the medium of exchange on the bitcoin payment network.

christina30

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Let us take a look at Bitcoin based on your given definitions of money and currency. Bitcoin is not money because its not represented by a physical version like coins. Even though in currency since it is not used in a particular country. However, your given definitions seem to be too strict. Bitcoin may fall into the two categories. Money could simply be understood as a medium of exchange and currency a system of money.

futuresprotocol

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Quote from: funkenstein on April 08, 2015, 10:37:35 AM

As to currency, this implies a "running" or a flow, meaning that many people use it.

Well said.

Lucas Riley

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Quote from: magic ice on April 08, 2015, 08:31:11 AM

mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---

cur·ren·cy read as ˈkərənsē (noun)

-a system of money in general use in a particular country.

So, is bitcoin money or currency?

I think there is on overlap for sure.

You can see it with the regulatory confusion.

CFTC - class it as a commodity
Fincen - class it as a currency
IRS - class it as property
SEC - security (basically a company)

allonage

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Both money and currency share many properties: They are both units of account (are numbered in value), a medium of accepted exchange and portable. They are both divisible (into smaller units of measure), durable (won’t physically turn to dust after a couple of days) and fungible (the value of the unit is the same for you as it is for me; has similar value here or there). What makes money different is it is also a store of value, meaning it will hold value, or grow, over a long period. Can you put it in a bank, safe deposit box, or under a mattress, save it, and it will retain its monetary value over time? Some currencies are better monies than others.

azulchzwang

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Currency is man-made to remove Gold as an independent, natural medium of exchange, to great effect. It takes power from the people and passes it to government in the form of “currency”. Money pre-dates government-created currency throughout the history of man, and their central banking system. If man only existed in the last three hundred years, currency as money would be fairly accurate, but overall, given definitions are incomplete. Knowing the difference between currency and money is important to your future, as the global economy becomes more and more unstable under a mountain of fiat-induced debt.

AntonGrishko

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Bitcoin is a digital currency that can be used through internet while money is physical that can be use in buying or paying bills without the help of internet we can use it to pay items we buy in small amount.

Yoshinoya

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May be both,because bitcoin is digital currency.bitcoin has a value of its own,as the money its self.for me money is bitcoin and bitcoin is money.
bitcoin is cryptocurrency and bitcoin is a common currency in the world

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