Is Bitcoin Money

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According to wikipedia:

"Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can serve as money."

Bitcoins are:[edit]

  • A record that is accepted as payment for goods and services, but not in the general case in a country. If it becomes more accepted in general, it would be money.
  • It also meets all the main functions of money

So as long as it meets the fuzzy criteria of being generally accepted, it would be money according to the wikipedia definition.

Source[edit]

http://bitcoin.it/

See Also on BitcoinWiki[edit]