Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin money?
by
Anarchist
on 16/04/2017, 11:46:18 UTC
Bitcoin is not money, it's just a virtual currency that is not backed up by anything but users. In a short time he managed to develop very well, but the future is in doubt.

Here is the definition of "currency"

Quote
A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use

Bitcoin is a  crypto currency using cryptography, the difference is bitcoin use decentralized control while others tradtionnaly are centralized electronic money