Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin money?
by
Imperalta09
on 14/11/2017, 15:35:13 UTC
I do not consider gold to be money.  You can't go and buy most goods and services with gold.  Gold is a commodity, dollars are money.

Bitcoin is a virtual currency.  It has more in common with paypal than it does with dollars or with gold.  I wouldn't really call it money until it is more widely accepted as payment for goods and services.

I agree, Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. And considering bitcoin as money is not surprising but it is really not in that area. But what is important is that bitcoin has value that is very useful in many selected sites, industry and others.