Bitcoin Forum

I am here not for very long time, and I see that all topics regarding earning bitcoins are very hot, people love disusing earning bitcoins.

I am confused. As a human being, we all know how to make money.

Isn't bitcoin Money? 

If bitcoin is Money, then the ways to make money are the ways to earn bitcoin, isn't it? 

In a word, there are only two ways to make money/bitcoin, legal and illegal. ;)

I do love this saying, "In a word, Bitcoin is MONEY (https://bitcoinprofit.net/info/page/bitcoin)".

I have one more concern too:

Can bitcoin really protect our wealth?  Will there be one day that bitcoin is as trusted (or even more) as gold?

Bitcoin is a currency but it is not money. In order for bitcoin to be considered money the state must recognized it as a legal tender but until now there are no declaration of bitcoin as a legal tender or an official medium of exchange and thus it can never be considered as a money. Though there are countries that have adopted bitcoin but they treat bitcoin as a commodity with a value that is a feasible form of payment.

2009 1 Ƀ = 0.0001 USD
2010 1 Ƀ = 0.07 USD
2011 1 Ƀ = 15 USD
2012 1 Ƀ = 7 USD
2013 1 Ƀ = 100 USD
2014 1 Ƀ = 600 USD
2015 1 Ƀ = 220 USD
2016 1 Ƀ = 1100 USD
2017 1 Ƀ = 1280 USD

From 0 to $1280, it took only 7 years, so I do believe that it could be $500,000 (prediction from Jeremy Liew & Peter Smith) by the year 2030.  ;D ;D ;D

Isn't currency money?  For me, USD is a currency, HKD is a currency, and both HKD and USD are MONEY.

No, currency is different from money. Money stores intrinsic value within itself, fiat currency possesses buying power bestowed upon it by the government. Meaning a USD bill does not have a real value, it is only a piece of paper with writings and drawings, it only has a value because the government says so.

Yes, Bitcoin is money.

As far as I can tell, there are 5 ways to acquire bitcoin:

• Provide a product or service and receive bitcoins for the value you have provided
• Exchange your local currency (or any other currency) for bitcoins
• Beg and hope to receive bitcoins out of the charity in someone else's heart
• Gamble bitcoins and hope that you are lucky enough to win more than you lose
• Scam, steal, or otherwise take bitcoins from someone else

Yes bitcoin can be earned just like money but till now you can only earn bitcoin by working online.
But you can simply buy bitcoin with whatever you can earn from offline job.

Yes you can earn bitcoin with both legal and illegal way, but you can easily run away with whatever you can earn from illegal way. 

If for 2013 we put 1200$ (November) instead of 100$ (spring), this would look a bit different:

2013 1 Ƀ = 1200 USD
2014 1 Ƀ = 600 USD
2015 1 Ƀ = 220 USD
2016 1 Ƀ = 1100 USD
2017 1 Ƀ = 1280 USD

Conclusion could be: "It doesn't seem that BTC price could reach 1500$ in next few years, as it couldn't achieve that in last 4 years." Just the matter of interpretation ;)

Hmm, then why gold still has its own value without a government says so?

People do make things just to earn bitcoin its either on legal or illegal way since bitcoin does have a value which be considered as money too we can actively exchange it to local fiat and make use of it on our daily lives or on our needs.Yes it can be obtain buy doing legal and illegal and Bitcoin is money or shall we say a digital currency which means or be considered as money after all.

You forgot mining, the original method of earning money in bitcoins, there has been nothing like bitcoin ever, it's a new thing and a revolutionary one.
I know people often think mining is not profitable but why wouldn't they think differently?
Bitcoin mining is investing in the future, you buy ASICs and point them towards a profitable pool and start accumulating, then you pay your bills from pocket and you just keep mining for 1-2 years and then when price was high enough you'll sell to ROI and profit greatly at the same time.
Sooner you start mining the better the chances to mine with less difficulty.

And of course your wealth is safe with bitcoin, even if someone dumps 2m coins and cause a 50% market crash it's still worth to note that some one or few people are buying those 2m coins but taking advantage of a dump and getting cheap coins but they're actually buying them because then in term they'll want to use it in their businesses with other people.

Why do you think people willing to pay $1185 per coin right now? because they know if they wanted to mine 1 bitcoin it'd take them time and they'd to risk much more buying miners and waiting to ROI not mentioning the electricity cost, so if you think people(mining farms)will reduce their hash power instead of increasing it and they'll stop manufacturing miners? well that will only cause other miners take their place and start mining, rest assured bitcoin difficulty will not go down but only up up and up making it harder to mine thus price going higher and higher.

Answering your previous question, I would like to say that most of the economists and experts dont call bitcoin as a money, but as a different currency.
Bitcoin just simply does not meet a requirements to call it "money", but it is just a different way to hold your funds- a digitial currency.

Bitcoin obviously can protect your wealth, because it is something known, and trusted, even when the price is volatile.
Another good thing about it, is that you can have your wealth with you everywhere- in the web. You dont have to hold a wallet with you , which contains hundreds of bank notes with you, you can just hold a paper wallet or a smarthphone with access to all that wealth.

Well, what is ''definition'' of money for you?
If you use money to buy something and also you can use bitcoin to buy something, than what is the difference? :)
Regular money you can earn through regular work, investments, trading, gambling etc.
What about bitcoin? It's the same.
You can earn bitcoin through regular work, investments, trading, gambling etc.
Yes, unfortunately, criminals also likes bitcoin because of anonymity, no government control...

 

I don't understand the purpose of surely you want to know that bitcoin is money. Indeed bitcoin is not money, but by making sales or use bitcoin can we get the money. You know your trading system..?? , are all being traded is money. >?? . So, all the things that can get money does not have to be concerned about the physical. Because it is increasingly to the fore, the need of a person is always changing and we are have to have a work that is useful is not wrong. Because it is a work created to help and solve a problem that does exist in certain products and unresolved
 

So yes, putting it in simple words, as you say, there are only two makes to make Bitcoin legal and illegal. Now obviously you can earn bitcoin in any way that you can earn fiat including those methods there is mining which is essentially making bitcoin from scratch(you can compare with this to printing of paper money). The thing about BTC being money is that it is money as long as people accept it in exchange of goods, i.e as long as bitcoin has value.

Bitcoin is really a money and there is a lot of ways to earn bitcoin by doing signature,trading,freelance and investment. Money (fiat) and the Bitcoin is always involved in that two ways to make money which is legal and illegal because that is pretty normal in our world, most of the people choose to earn bitcoin in a clean and legal way while other want to earn bitcoin in a faster but dirty (illegal) way like selling drugs or any kind of illegal stuff in the black market.

You can earn Bitcoins the same way as you earn fiat money.

Just get paid in Bitcoins instead.  ;)

I guess it may reach 1500$ within 2017.

That's probably what I thought, more over, all fiat money can be exchanged to bitcoin.

yes in such place where people cannot use bitcoin directly for shopping and other purposes, so there they for convert bitcoin into local currency and then use it according to their own wishes.

this has more to do with philosophy , gold may be considered as money for some people and others may find it not
and by earning yes in order to earn bitcoins you have to do the same things you do to earn money
but as I said it's more a philosophy thing   :) you can say that you earn 20 bottles of water hourly if you are interested in water and same thing in bitcoin or anything else as long as it has some value

Bitcoin is not money, it is a digital currency but it has some functions the same as money. There are not only two ways to earn Bitcoin but many more ways. You can ask or look in this forum. There are polls here asking what are the best ways to earn Bitcoin.

You can earn food by working either a legal or illegal job, does that mean that food is money too?

You earn literally everything legally or illegally, and for most people on this forum there's an incredibly high chance that they earn all of their money legally. I would be surprised otherwise, for the most part.

Actually now bitcoin already a trusted currency. From security aspect bitcoin is very strong , see the price it is very high and many factors else. But about bitcoin protect your wealth i think it depends on your treat with bitcoin. When you can 'playing' bitcoin on right way that will protect your wealth even possible to makes you more rich.

Your post shows only you been gone for long time, look at your post makes absolutely no sense. Yes Bitcoin is money and if you look around there a very active thread discussing this. It's a crypto currency that made many rich. Also for your earnings questions again there a very active thread which is going on. You can earn by facuets, signature campaigns, give aways and if you know coding and graphic design many contest out here.

First thing is yes,bitcoins is a money or also known as cryptocurrency that we can use in online transactions.Yeah you can earn from both legal and illegal things but it will be easier and safer if you will go for the legal ways instead of going to illegal things

Are you advertising a so called bitcoin bank,i am not sure about the legitimacy of the site and i am not sure whether it is good to advertise which is not yours and if it is your project then you must start an ANN thread so that people discuss about it. I just have one thing to tell you,there only one way to earn money and that is either you have to be lucky or you need to work hard and there are no short cuts,no one can predict whether bitcoin can protect your wealth in the future ,but as it stands it will protect but as an investor you have to consider both sides.

No. I didn't.


Miners provide a service (maintaining the security of the blockchain), and receive bitcoins (transaction fees and inflation based subsidy) for the value they have provided.

I am the person believe that bitcoin is money, because we can used it to purchase things and people accept it, even though there are two ways to earn legal or illegal way but the way to earn with illegal or legal way is also a lot, like trading, investing, faucet, ransomware, stealing and other, so there's not only two way to earn money, but a lot, and yes bitcoin can be a good investment but don't put all of your money in bitcoin, we still don't know what could happened with it

I dont think there is an illegal way. To earn bitcoin miners would have to mine.
The rewards are called "bitcoin". After that there is what you call the illegal way which doesnt include how it was really earned.
It is the way it circulates that makes it illegal to many persons but if you really look at the history to where it was earned, you will see there is nothing really wrong about it.
The way it is being used will be the problem. Same with money. They can duplicate it but it will not be the same. In crypto they are called alt coins.

Yes. Bitcoin is money, though not your conventional fiat since it is decentralized and no entity rules or controls it. Aside from that, this money can be bought by money (or trade, you get the point) from specialized exchanges that handles the transactions. There are only two ways, yes. It's either you work for it or trade it.


i don't know. Can it? But as far as you can see bitcoin is performing quite well and delivering positive results. Aside from that, people have built infrastructures and wealth in it and they wouldn't allow bitcoin to fall down that easy.

You are asking the forum like we can divine what will happen in the future. No one knows much more than anybody else on this matter. In regards to whether bitcoin is money, I think we can go with the definition of money which is a medium of exchange that two parties will accept as payment for a service.

I think Bitcoin would fall under this category. Whether or not Bitcoin will become like gold I am not sure about that; I don’t see it happening but maybe.

Bitcoin is money.  I think you should look up for the definition of money and currency.  And Bitcoin are both money and currency and now several holders consider it as store of value.  And care to know how Japan look at Bitcoin.  Even in my country, government look at Bitcoin as money.  I think you need to look at the window sometimes to catch up some news.  The world isn't just your house.

You are wrong in this aspect here,there are illegal ways to acquire bitcoin and the most common one we see is hacking since this is a virtual currency always make sure your coins are secure and all alt coins are not duplicate coins,it is an extension on the market where bitcoin started the revolution.

this is exactly what most of the people like tp think with this crypto currency but in real its not even money its just some short of points system whoch behaves more or less like our monetary system anyway no matter what it is we use it for legal and illigal purposes. there might be many ways by which users do make more and more money and hence growing up the bitcoin network we all are helping each other whole making profit for ourself

It seem to be more commodity and currency in my country, at least at this point in time. Our central bank even made it clear that it does not endorse it as a currency (there are starting to be more services payable in bitcoins here though). I guess that means it's still not a legal tender (which is what money is).

They've recognized its usefulness as money remittance tool though. We can also buy it here with fiat and then cash out later but then that would make it more like an investment tool, a commodity to buy and sell.

Bitcoin can be considered as currency or money it's all depends on individual opinions. Maybe it will depends on what purpose people are using bitcoin for buying something or to sell it to get paper funds

Mate, it is true that bitcoin can be collected by legal and illegal ways, there were people who truely use bitcoin to illegal because of its good feature of anonymity to the public every transaction they make.

Yes, there are lots of ways to earn bitcoin but then the question is your way illegal or legal? I guess most are legal ways :) but it is your option on how you gonna collect coin?

Bitcoin or even the fiat already used in illegal transactions because that is how they can exchange things like service or an item but in this days, if a lot of people already know bitcoin then bitcoin is more prone to illegal ways especially in getting or earning bitcoin because of its anonymity and it is too easy to earn bitcoin in illegal way like buying and selling drugs.

Will you steal or hack somebody's account? or gambling in some illegal gambling area or site using bitcoin. Yet, it is all up to you, it is your choice. Lots of options are available online for bitcoins.

If you are looking to earn bitcoins with shortcut method then you will definitely choose illegal ways to earn them by gambling or by hacking someone's account and if you are honest then you will start looking for genuine ways to earn them.

Then what if the price drops in the future?  ::)

Yes! it is definitely bitcoin can protect our wealth because of the decentralization it has that it can give to all bitcoin users who hold and keep their bitcoin to their storage wallet address. And it is very secured and safe, meaning no worries about it.

Your question is totally pointless.I don`t understand what exactly are you trying to say?
Bitcoin is money,but earning bitcoins is a little bit different than making money, because bitcoin isn`t that popular.