Is Bitcoin Money or Currency - page 28.

ityandsyn

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Quote from: 4U on March 05, 2018, 06:04:10 AM

Quote from: Lwtelencio on March 04, 2018, 09:28:32 AM

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?

Honestly bitcoin is a currency but it can be converted into money.They are dependance each other because it can make us wealth and naturally can change our life to be rich.

It is not only the currency but it has the power to buy you everything that you buy with money. bitcoin is being use as payment is almost every place now, bitcoin can make you rich in very short time and it will not make you suffer any lose, increasing price of bitcoin is the reason why it is increasing day by day; bitcoin will change your life and will make you able to earn and buy goods for your family whatever they want and whatever they need in their life so bitcoin is the digital currency that has all the abilities that the fiat money has.

Yes, I agree with you it is not only a currency but it has a multi task, if bitcoin use to buy items like in some country that accept bitcoin
it is called money and if it is use for trading it is as currency and it can also be convert into a real money.

4U

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Quote from: Lwtelencio on March 04, 2018, 09:28:32 AM

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?

Honestly bitcoin is a currency but it can be converted into money.They are dependance each other because it can make us wealth and naturally can change our life to be rich.

It is not only the currency but it has the power to buy you everything that you buy with money. bitcoin is being use as payment is almost every place now, bitcoin can make you rich in very short time and it will not make you suffer any lose, increasing price of bitcoin is the reason why it is increasing day by day; bitcoin will change your life and will make you able to earn and buy goods for your family whatever they want and whatever they need in their life so bitcoin is the digital currency that has all the abilities that the fiat money has.

bib24

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It falls on both categories. Like money, it has no physical aspect but can be seen in terms of numbers, and it is a currency since that is the main objective of bitcoin.

RebeccaCole

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Yes bitcoin is a virtual currency and it is used by a lot of people today it is little equal to normal money used by people now because they had good feedback about bitcoin like their own currencies in future it will be used by all people in the world .

ArnoldChippy

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Quote from: lili song on March 04, 2018, 12:29:30 PM

Bitcoin is virtual money and we can use like money for now. Virtual money actually is not currency. If you said currency, bitcoin must be accepted and recognised community-wide authority. Bitcoin only use by some people only, who knows cryptocurrency and investors. Bitcoin can used for online transactions as a payment.

Yes bitcoin is an online currency, which is present in all over the world having decentralized character. Bitcoin has the same value in all over the world and one can use it without changing it in to any other currency for shopping online or even if he is using bitcoin for shopping in his local shops,where they have the opportunity to use bitcoin.

beej

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Originally I think it was designated to be a currency and later on with the hopes of implemention
as money, digital money to be exact. In the state and condition bitcoin is at currently, it's highly
considered both and even more. Once it was accepted and utilized by various stores, business and
governments bitcoin officially evolved. That is what makes it so unique and special. No wonder
bitcoin grew more and dominated the cryptocurrency revolution. With the potential it has in terms
of market value alongside it's highly volatile nature, it too can also be considered an asset and
a commodity with potential prospects of lucrative profits.

waichi

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Reinventing Decentralised Finance on BSC

In crypto world, Bitcoin is a currency because it is used as a gateway to buy other coins. But in the real world, it is not money nor currency. In my opinion, Bitcoin is an asset specifically an investment that we speculate the price.

lili song

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Bitcoin is virtual money and we can use like money for now. Virtual money actually is not currency. If you said currency, bitcoin must be accepted and recognised community-wide authority. Bitcoin only use by some people only, who knows cryptocurrency and investors. Bitcoin can used for online transactions as a payment.

komjhq

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Quote from: Eclipse26 on March 04, 2018, 09:49:43 AM

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 own opinion, I think bitcoin is a currency. It is a digital currency that can only be used in the internet. There are many other digital currencies in the internet like Etheruem, altcoins and many more. Bitcoin can be converted to money that will give them the capability to buy the things they need and want.

Generally I think that the infrastructure for using Bitcoin and other coins should exist. Thus, each user of the crypto currency will be able to realize his needs. But we must also take into account the fact that the community of crypto currency users is very small, And besides scattered around the world. Therefore, it will be very difficult to create an infrastructure.

valterventura

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i think Bitcoin became money now. Because , many store accept it and make payment gateway by bitcoin..
Even though, isn't real money but it more valuable than real money..

Indai24

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Quote from: Eclipse26 on March 04, 2018, 09:49:43 AM

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 own opinion, I think bitcoin is a currency. It is a digital currency that can only be used in the internet. There are many other digital currencies in the internet like Etheruem, altcoins and many more. Bitcoin can be converted to money that will give them the capability to buy the things they need and want.

Bitcoin is a global currency. It is clearly understood on the above definition that money in lay terms is used for medium of exhange and this is also one of the definition of bitcoin so therefore it is also considered as money.

Eclipse26

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bullsvsbears.io

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 own opinion, I think bitcoin is a currency. It is a digital currency that can only be used in the internet. There are many other digital currencies in the internet like Etheruem, altcoins and many more. Bitcoin can be converted to money that will give them the capability to buy the things they need and want.

btc.xbt.btc

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I think it can easily fit in both categories, by definition the two are not mutually exclusive: the dollar is both money and a currency.

djselery

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Mainly Bitcoin is a currency, but it is also considered as an asset just like fiat currencies and gold, because it can be converted into money easily and also it have the price growing up fastly. Personally I think it is money too, because we can use it to trade and to complete deals online, and to buy/sell the most needed services and goods.

Lwtelencio

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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?

Honestly bitcoin is a currency but it can be converted into money.They are dependance each other because it can make us wealth and naturally can change our life to be rich.

19spawnfeed

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Quote from: Danu26 on March 03, 2018, 01:03:09 PM

Quote from: zhelis74 on March 03, 2018, 06:20:34 AM

Quote from: atomicgroup on March 03, 2018, 05:36:26 AM

From the definition quoted by you and even in fact, we can infer that money in form of paper and coins are commodities/items that are physical, can be touched and used for goods and services exchange, While currencies encompasses more than being touched or seen, can be electronically transferable for same purpose as money. We can hereby ascribed Bitcoin to be more of currency than money, because Bitcoin are abstract in nature, can only be felt electronically and used on line for goods and services exchange purpose simultaneously but on line within its common users only.

Yes, you have totally enumerated the comparisons between money and currency. As for me based on my own opinion bitcoin is both money and currency since literally bitcoin is a crypto currency or virtual currency and at the same time its a kind of money because it can be used to buy goods and services if it is converted to our own local money.

I agree with you, bitcoin can be either money or currency, although bitcoin does not have physical form but he can be used to buy goods this is what can be called that bitcoin money.
and also called currency because bitcoin is a digital currency that has no physical form.

Bitcoin are Currency and money but not the same things, they just have many of the same properties. The textbook definition in your dictionary may even give credence to money being “stamped by public authority”. 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 "currencies". We use Bitcoin for our payments through online transaction as a money or a currencies.

Danu26

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Quote from: zhelis74 on March 03, 2018, 06:20:34 AM

Quote from: atomicgroup on March 03, 2018, 05:36:26 AM

From the definition quoted by you and even in fact, we can infer that money in form of paper and coins are commodities/items that are physical, can be touched and used for goods and services exchange, While currencies encompasses more than being touched or seen, can be electronically transferable for same purpose as money. We can hereby ascribed Bitcoin to be more of currency than money, because Bitcoin are abstract in nature, can only be felt electronically and used on line for goods and services exchange purpose simultaneously but on line within its common users only.

Yes, you have totally enumerated the comparisons between money and currency. As for me based on my own opinion bitcoin is both money and currency since literally bitcoin is a crypto currency or virtual currency and at the same time its a kind of money because it can be used to buy goods and services if it is converted to our own local money.

I agree with you, bitcoin can be either money or currency, although bitcoin does not have physical form but he can be used to buy goods this is what can be called that bitcoin money.
and also called currency because bitcoin is a digital currency that has no physical form.

bitcoinajax455

newbie

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If we precisely define bitcoin, it has property of money in terms of payment. Bitcoin is also a currency, which is traded person to person without any need for a bank in the middle.Bitcoin is a payment network similar to Mastercard and PayPal. Bitcoin have the properties of money and currency.

yvesp110

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Quote from: Pintasak on March 01, 2018, 08:26:54 PM

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?

Bitcoin refers to two things Btc is a payment network similar to mastercard or paypal and bitcoins (the currency)are the medium of exchange on the btc payment network .Btc is a global currency which is traded person to person without any need for a bank in the middle

So ultimately you are saying bitocins are more a currency than asset. Well I am not in favor of your statement. Bitocins are preferably an asset than a currency because if you are considering only the features like payment method, then they are just features. But as bitocins are prevailing throughout the world only for the reason as people have earned so much by trading and investing, bitcoins are assets generally.

zhelis74

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Quote from: atomicgroup on March 03, 2018, 05:36:26 AM

From the definition quoted by you and even in fact, we can infer that money in form of paper and coins are commodities/items that are physical, can be touched and used for goods and services exchange, While currencies encompasses more than being touched or seen, can be electronically transferable for same purpose as money. We can hereby ascribed Bitcoin to be more of currency than money, because Bitcoin are abstract in nature, can only be felt electronically and used on line for goods and services exchange purpose simultaneously but on line within its common users only.

Yes, you have totally enumerated the comparisons between money and currency. As for me based on my own opinion bitcoin is both money and currency since literally bitcoin is a crypto currency or virtual currency and at the same time its a kind of money because it can be used to buy goods and services if it is converted to our own local money.

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