Is Bitcoin Money or Currency - page 34.

ReindeerOnMe

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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?

If this is the choices, then none of the above. Bitcoin is not a coin, neither have a form of bank notes since it is decentralized so it is not a money. Bitcoin is not a fiat of any country so we can say that it is not a currency. If I will be choosing what is bitcoin, I think I will be saying that it is an investment, an asset most people use their money in order to have a profit through time.

Singbatak

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There are many different jurisdiction about Bitcoin. But it is a true global currency and it can be used in any part of the world. Or if you are paying using Bitcoin, it is a money. If you see it as a store of value that can beat inflation, you probably see it as an asset class similar to gold and so on.

boksoon

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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 a form of fiat money which is called a high technology money, it is also use to buy some other different things and payment for all your bills and any different needs.

it is also works in 24/7 online but this not like our stable fiat money it is movable every minute it depends upon how volume of users that invest in every minute so that when we look at the blackchain market it is like a buble up and down.

Triyavam

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virtual currency is a digitally created currency, the whole system is based on blockchain,
Ways to save your wealth like gold,
In my personal opinion, people who use bitcoin, could have assumed bitcoin as currency,
Because Starting from publishing, the way transactions and records are all in the blockchain decentralized network.

Choyor

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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?

These are two different definitions of your question, between money and currency. Bitcoin is not money, it's an electronic currency that can be conventioned into money, unlike most other currencies, bitcoin does not rely on the confidence of major publishers. Bitcoin uses databases that are distributed and spread to P2P network nodes to transaction journal, and use cryptography to provide basic security functions.

kuruyama

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Currency represent money with a value to another currency. And then money is what you get when you trade that currency to another currency. Cheesy

so basically Currency is Money and Money is Currency i believe they are both.

so yeah thats what i think it is.

Zaibraid

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bitcoin is not money but digital currency. the currency generated from technological developments and can not be used in any country before converted to fiat currency, but may in the future bitcoin can happen to be real money.

w33man

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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?

For me, bitcoin is more of a currency. This is why bitcoin's category is cryptocurrency and not cryptomoney. Also, bitcoin has the characteristics the same as money has which is being volatile. Due to bitcoin's volatility, the probability of earning by investment is present. Although, it has the characteristics of money, like for utilization as payment. Still, it is more of a currency.

Kotone

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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?

For me the proper turm to address bitcoin and the whole of cryptocurrency would be being currency. It only turns to meny when ti is encashed. However it actually has value even when it is still in its digital phases where it can still have a prive before it can get encashed and can be paid to a lot of transactions whoch by definition should be used as currency more than money

ashfer

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https://luxantdigitalbank.com/

Money is something which is given as a mode of payment for goods ,services that we receive.Currency is the word used to specifically mention money .Here in the case of bitcoins we can call it as both currency as well as money as bitcoins are digital currency or digital money even though it is not backed by any government stocks or gold it has the same value just like the money but its value keeps changing every now and then but the value of real life money does not keep changing every now and it is something which is backed by government which has support of gold or stocks.

shikon_shard

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Quote from: magic ice on April 08, 2015, 08:38:13 AM

Quote from: Jakesy on April 08, 2015, 08:36:33 AM

Money is unreal, meaning imaginary, intangible - a concept.

Currency is NOT money, but merely represents money.

So, bitcoin is... ?

An alternative for money?
Except you can't hold it but you can give and take it.

supermam

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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.

jonatuzc

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Quote from: Man From The Future on January 13, 2018, 09:11:34 AM

As far as I know, Bitcoin is a currency which is used in a digital system and used by a community.
Whereas money is identical to physical form of payment.

Yes they are one and one related things. If you are just comparing them and asking what are bitcoins? Are they money or not so my answer will be just simple. Thing is when you can convert the physical money in bitcoins and then on the same page you can convert back this bitcoin in paper money so yes this is only money. There is nothing like some virtual thing, it is basically money.

redsun114

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Leading Crypto Sports Betting & Casino Platform

Quote from: Silent26 on January 12, 2018, 10:01:36 AM

Quote from: magic ice on April 08, 2015, 08:38:13 AM

Quote from: Jakesy on April 08, 2015, 08:36:33 AM

Money is unreal, meaning imaginary, intangible - a concept.

Currency is NOT money, but merely represents money.

So, bitcoin is... ?

Actually bitcoin is a currency, an electronic currency but stands as a money as well because we can spend it like a money though it is not that often to used as payments. When we say money, it is somethings that we use to buy things and get things we want. And as we can see, using bitcoin can do the same as money, you can still buy things you want from bitcoin. Thats why bitcoins are voth currency and money.

Bitcoin was created to help those who want digital money and now bitcoin is top on trends everyone is investor and getting maximum from bitcoin and basically it was introduced as alternative of currency but now it has become investment which is very profitable and people are really crazy about bitcoin now and I personally think that bitcoin will take over the currency world and will give us chance to use it all across the world.

cryptoama

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Bitcoin is like crypto currency or you can call virtual money.

k00d8

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both

somwhr

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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?

bitcoin is currency because but not form of money.. this is an online currency..

Altero

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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?

It's gonna be applied both money and currency. For the reason that, bitcoin are convertible into real/fiat money and can be used also directly to pay transactions. Some countries bitcoin isn't accepted as a mode of payment that's why they used to convert it in order they can spend it.

yvesp110

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Quote from: loragean03 on January 15, 2018, 05:33:28 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?

yes, bitcoin is a money by means of digital currency. bitcoin can be considered as a new generation currency in a digital aspects. in our modern world all things mostly money are have a connection online (internet), most of activity can be done online so as an easy ways people created a modernification digital currency to be use in the future purposes. and bitcoin is not just a digital currency online it is also a good investment program that can earn profits.

There is not much difference in between money and currency. We all know this fact that bitcoin and all other crypto currencies are virtual currency and there does not exist any of the crypto currency which has some physical existence. So, I don’t think so that using of the word money will be that much appropriate in case of bitcoin. We can term bitcoin as one of the best crypto currency.

voztata

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Quote from: sclmte on January 13, 2018, 09:32:09 AM

Bitcoin is decentralized electronic money. It is something accepted as a medium of exchange or means of payment. So in my opinoin and the way I understand bitcoin it is considered as money or a currency but in an electronic form.

Uuhm, you’re right… Bitcoin is money, one that is decentralized and being used by everyone no matter where they are.It’s not a currency, cause if it’s a currency, it would not be Decentralized. Real currencies are not decentralized, rather they are centralized.

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