Quote from: Victorycoin on May 06, 2017, 10:35:31 AM

Quote from: bamboylee on May 03, 2017, 07:38:29 AM

Quote from: Sanitough on May 03, 2017, 06:39:43 AM

Quote from: usefrees on May 02, 2017, 07:11:32 PM

For me, bitcoin is not money. It performs the functions of gold, payment of the system and cash. Bitcoin is something in common with what I called.

We have different understanding but for me it's money because it has a value and more valuable than fiat.
When I have a lot of bitcoins, I will think I am rich because it's money that I am holding.

If you have a lot of gold you will think you are rich as well, but gold is not money, right? It is money if you are spending it on your daily expenses. But if you are just holding it, then it just becomes an investment.

One of the qualities of money is that it should also be a store of value and gold is an asset that serves as a good store of value, so we can rightly say that gold is also a form of money which one can easily exchange for cash anytime anywhere across the globe. It is readily acceptable because people see it as a form of money.

Yes gold definitely is a form of money. If you look at the history of the paper money or coins etc. it basically started from gold. At first when there was no paper money people used the gold as a medium of exchange for the services and goods. More after things when get sophisticated the paper money was formed.