Yes it is not a money as of now, due to its being speculative asset that denies its capability of being used as a money. Due to a lot investors in the whole world, its value always changes. The purpose of it being used as a payment method is quite being incapable. If due to regulations in the future by the government, then many establishment aside from Microsoft will follow-up. But this kind of speculation will still require a lot more time as the adoption or being of the mainstream of the Bitcoin isn't still enough to be supported by the people outside the cryptocurrency.
Ongoing debate but for me it doesn't matter how to classify BTC. It brings me real money and I am happy in the same manner as others who think other way.
A bit of a debate, but it is more looking like an asset as it is still incapable of having a large collaboration with the various markets around the economy.
Money should not appreciate in value. The purpose of money is to be spent, to circulate, not to be "hodled". Why would you use as a medium of exchange something that appreciates up to 1000% a year?
"Hodling" is the exact opposite of money.
Another issue with bitcoin is it is not a unit of account, people when transact in bitcoin they refer to $ and other fiat currencies, they don't have a clue what 1btc is unless it's not converted and expressed in fiat. There's not a country in a world that prices goods and services in btc. There's no reference point, it's not a legal tender anywhere either. Only way btc's value can be known is when it's paired to $.
True. In part of its liquidation, money is meant to circulate around the economy. It is looking like that Bitcoin, at least for now, is a commodity meant to be realize into a fiat value. Unless such modification through Bitcoin will be made, then it could prove its purpose to be a money as a method of payment but somehow it is looking like that it is unlikely yet.