Is Bitcoin Money or Currency - page 32.

Erza

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Quote from: trickyriky on February 14, 2018, 06:51:00 AM

Quote from: Ron~Popeil on April 08, 2015, 09:55:54 AM

I would consider it to be money right now. As more and more people use it it will be a currency. It is more than either option though. It is a technology that can and will change everything from elections to contract law.

Bitcoin can be considered to be money, when it is converted to fiat. I suppose that BTC is a currency, the stuff that can connect even people globally! Bitcoin is sure a protocol, but many of us still call it money.

If I can choose both I will take both money and currency for bitcoin. For now may be people just use it as passive income or may be some investment and woth the volatility then they can get profit by trading. But just believe that soon or later it will be known as a currency because many people already adopt it in every country. You can ask in which country that their people do not know bitcoin.

trickyriky

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Quote from: Ron~Popeil on April 08, 2015, 09:55:54 AM

I would consider it to be money right now. As more and more people use it it will be a currency. It is more than either option though. It is a technology that can and will change everything from elections to contract law.

Bitcoin can be considered to be money, when it is converted to fiat. I suppose that BTC is a currency, the stuff that can connect even people globally! Bitcoin is sure a protocol, but many of us still call it money.

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I feel that bitcoin is money, in currency. well, I mostly do transactions with bitcoin, but not buy goods, but exchange them with fiat, or currency. that's better i guess. but I think it's the same.

nakamura12

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Quote from: DLCseller on April 08, 2015, 09:41:20 AM

BOTH! Its a crypto-CURRENCY that is used as money.

Yes you're right bitcoin is a cryptocurrency. But what is cryptocurrency? Cryptocurrency /ˈkrɪptəʊˌkʌr(ə)nsi"/(noun) It is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. So, a cryptocurrency represents a bitcoin and bitcoin is a cryptocurrency as mention above so currency represents money then bitcoin is both a cryptocurrency and used as money.

Yoshinoya

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Bitcoin is digital currency and bitcoin transaction user i think almost same with small country transaction.
and i think bitcoin will take over the currency world and will give us chance to use it all across the world.

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Bitcoin is a digital currency that anyone can use it to pay for services or goods online anywhere in this world, that is what makes bitcoin so popular and unique in the first place, there is no more request on their users to submit multiple documents and identification proof imposed by the banks or payment systems online, bitcoin will surely get more and more popular in the future.

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Quote from: aishyoo17 on February 13, 2018, 07:24:48 AM

Bitcoin is both currency and money for me or in my opinion because some people use it to buy things which is what money is used for and sometimes a currency; because people usually refer bitcoin as a monetary system wherein people have to convert bitcoin to a local currency depending on which country they live in to pay bills. But there are other countries who are accepting bitcoin or other cryptocurrencies as payment, so for me it is both a currency and money.

Yes, i agree bitcoin is a digital currency or virtual currency circulated by means of internet and at the same time it is money because we can use it as a medium of exchange to purchase some goods and services and above all it is all convertible into our real local money.

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Quote from: Dorion2124 on February 13, 2018, 07:13:46 AM

Quote from: magic ice on April 08, 2015, 09:31:11 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?

For what i know bitcoin is a currency not a money, because you cannot pay bills with your bitcoin, so you need to exchange your bitcoin into money so you can use it to pay bills.

If you consider bitcoin as currency. but bitcoin is not a financial system of any country right? but bitcoin is a crypto-currency? I think bitcoin is the currency or money its dont need to be in trouble. because bitcoin can also be used as a financial system if a country wants to adopt it and bitcoin is also money because there are already many stores that accept payments with bitcoin, so what needs to be on the issue?

nonsonote

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Quote from: magic ice on April 08, 2015, 09:31:11 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 don’t think there’s a big difference between money and currency. As you said money are all those circulating banknotes and coins all over the world, while I think, currency are the one that define the value of the money. And it differs in every country. So I think bitcoin is a money and a currency at the same time, because it is used as medium of exchange and it has a value

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Quote from: magic ice on April 08, 2015, 09:31:11 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 is a virtual currency who you can transact with it in any where country you are that accepting this type or kind of heavy currency.

mrcash02

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It's the same thing. Currency is "the money that is used in a particular country at a particular time".

Currency = Money.

I think we don't need to make this complicated. We understand Bitcoin as currency and as money since you can use it to adquire new items, to pay for services and to execute successful trades. Everything a traditional currency/money/fiat can do, Bitcoin can do as well, at least theoretically.

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Quote from: magic ice on April 08, 2015, 09:31:11 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?

actually we can call both because bitcoin is a digital currency that can be said to be an encrypted ass so whatever you call it it just will not change the function of the bitcoin.

MarkusIsaiah

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Bitcoin is a currency that's why it is called digital currency right?. Money is using for exchange. If you want bitcoin to become money then convert it into fiat to become money.

Morjana17

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The currency could be converted into money, so either of the two. Both can be use as a form of transaction. When we are talking about money can be deal and easy to negotiate because it is already hand in and visualize by everyone than currency.

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Either of those two is correct because if you have money then you have a currency because there is no difference between those two because they can be spent into different things that you may want to spend with your money or currency but in terms of bitcoin, it is very rare to see a store that is accepting bitcoin because of the unstable network.

fishball

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Quote from: magic ice on April 08, 2015, 09:31:11 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 obvious that bitcoin does not really have a tangible representation like a REAL money has. So we can safely assume that it is a currency, specifically a virtual one where you can exchange it to a real money. Just my thought.

zingspeed

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Bitcoin is money. It is real money

MD Milon

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I think both of this.Bitcoin is a digital currency.its mainly a virtual currency.its can be converted into a currency.its value is real.Bitcoin is decentralized from money.Bitcoin is a asset.it has great future.

ylnar123

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Quote from: magic ice on April 08, 2015, 09:31:11 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?

Like what it's called cryptocurrency which means bitcoin is a currency because we cannot call it a money. Why? Because as what money defined, bitcoin has no medium on exchange and bitcoin is just a digital currency that does not even exist in real world.

aishyoo17

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Bitcoin is both currency and money for me or in my opinion because some people use it to buy things which is what money is used for and sometimes a currency; because people usually refer bitcoin as a monetary system wherein people have to convert bitcoin to a local currency depending on which country they live in to pay bills. But there are other countries who are accepting bitcoin or other cryptocurrencies as payment, so for me it is both a currency and money.

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