Quote from: free-bit.co.in on Today at 01:08:12 PM

Quote from: BitGoba on Today at 06:33:00 AM

For something to be considered money, it doesn’t need to be officially recognized by anyone it just needs to meet certain characteristics. Money should be able to fulfill three main functions a medium of exchange, a unit of account, and a store of value. Additionally, good money must be easily transferable, divisible, durable, and scarce.

That’s why money works even without being backed by a government or institution what matters is that it meets these characteristics and performs the functions expected of money.Bitcoin is not gold, and it’s wrong to say so. Bitcoin is a superior form of money compared to gold. Gold failed as money because it wasn’t practical to use, which is why banks and paper fiat currencies appeared. Bitcoin doesn’t need banks or currencies to serve people as money.

Yes, I agree with you that bitcoin is money because it was designed by Satoshi to be a peer-to-peer currency, not digital gold or an investment asset or a national reserve. But it can never become a legal, mainstream, and widely used currency without government recognition. No one would dare use bitcoin as currency if the government banned it.

We need to admit that our world is a centralized world and the government is the one in control. No entity can become popular and widely used without being recognized by them.

Money does not need government stamp to be money it just needs to do what money is supposed to do if it can be used to trade measure value save value and it is easy to transfer divide Last long stay scarce then it is money.

However that is why bitcoin work as money not gold and it does not need to be in fact it is even better than gold because gold was too hard to use in everyday life which is why we ended up with banks paper money bitcoin does not reply on bank or government it already works as money for the people who use it.