Thought 1: Is Bitcoin money?
Absolutely...
...
Bitcoin is money. You can store some wealth in it. But how does it stand up as a platform competitor in payments? On the stability front, it is pretty awful.
...
However, it does have some other features. First, it may actually be a better platform in some countries than others. This is why the demand for Bitcoins is heavily related to the stability of other currencies. Where US dollars are hard to come by, Bitcoin can offer a safer haven for wealth.
Second, you can potentially deal in Bitcoins and exchange them with others without going through a financial institution or holding cash. That makes them potentially useful for operating outside of the watch of governments. This can be a benefit or a curse.