Is Bitcoin 'real money' to you?

[gentlemand]

There's a consistent theme that I see popping up on here that I find rather fascinating, and that is the way that many posters perceive BTC.

What do I mean? People doing things with BTC that they'd never, ever dream of doing with their dollars - gambling as an 'investment', or gambling at all, pouring coins into bullshit investment schemes run by totally anonymous showers of shit, lending on here to shambolic morons, asking the question 'where do I get free coins?'

Considering how much of a pain up the arse it can be to obtain coins and keep them safe and their future potential, I find it bizarre that there's such an extreme disconnect. I would've thought it should be at the opposite end of the scale but that's clearly not the case for many.

Why do you think this attitude has developed and where do you stand yourself?

[1715109578]

1715109578

[1715109578]

1715109578

[unamis76]

When I started reading on Bitcoin, I thought this was just an Internet token, and back then it high quite a high value. But slowly I started using it, getting to know it more and I now consider it as real money... For me the question now is: is fiat real money?

[Raimonn]

Bitcoin is real money, you can buy things with bitcoins and you can sell and receive bitcoins. I understand your point of view, but there are people that invest with dollars to ponzi schemes too, and ones that lost its dollars in gambling.

[LFC_Bitcoin]

Bitcoin is of course real money. Me, personally, I use it as a long term investment strategy, sort of like a stock/share/store of value in the sense I hope it's worth a lot more some day in the future than when I've bought/been buying it.

I HODL a decent amount of coins in cold storage & I have fun with small amounts that I make from signature campaigns.

[RustyNomad]

Not sure if I understand you 100% but it seems you are referring to the 'value' aspect i.e. some people treating bitcoin as if it's not real money.

If this is the case then I have to agree, maybe it's a combination of 'easy come easy go' and the fact that most have very small amounts and because of this do not really see it as anything of value so willing to risk it on gambling and or other activities. It may also be as bitcoin for most is a 'sideline project' and as such the value held in bitcoin is not something they depend on for their daily needs.

Personally I do see it as real money so not something I'm willing to risk and or play with. A loss of bitcoin for me is the same as a loss in fiat so yes, for me its real money.

[gentlemand]

Not sure if I understand you 100% but it seems you are referring to the 'value' aspect i.e. some people treating bitcoin as if it's not real money.

Correct.

[couineur]

To me it's no more real money than coins of gold for example. It has a value and can be exchanged for goods, but in an unpractical way.

[ACAB]

Accept it or not, Bitcoin is money. There's no such thing as free lunch. Earning coins need labor. You can't get anything free.
If people spend their coins to bullshit places that's their choice (problem). You can't judge a person how they spend their money. If you are intelligent enough you can find ways to use your coins for better investments.

[RealMalatesta]

I spend it as quickly and easily as fiat money, so "yes" to your question....

[gentlemand]

To me it's no more real money than coins of gold for example. It has a value and can be exchanged for goods, but in an unpractical way.

If this was 2010 I'd agree with you, but it ain't. There are plenty of places you can spend it. There are also tens of thousands of people on here and elsewhere who'd be delighted to take it out of your hands in a matter of seconds. It's the getting them back that's the trickier part.

[gentlemand]

Are you sure? Lending is a pretty common "investment" out there, there is people doing some real money with it. "bullshit investment schemes"... besides pyramids (which are always a success -for their owners-), what about herbalife, omnilife and all those affiliate programs?, all those work with fiat.

How would you grow your bitcoin?, probably trading is also "dumb" for you, buying then selling is a risky activity as well, so, only people fearing risk is aware of the value of bitcoin according to you?, how do you handle your fiat?, is it under your mattress?

Much of my fiat lives in financial institutions that are insured and their operators are legally accountable if they decide to help themselves to it. If this was not the case then the money would not be in there.

People can lend fiat via established sites like Zopa that take credit ratings into account, ameliorate risk and use debt collection agencies, not one guy writing 'hey dude. I need minzerz luls. Here's my address' on here.

As for investments, if a guy with a bag over his head walked up to you in the street and asked for a bunch of dollars (cash of course) for a vague idea but no contact details or business plan or paperwork, would you hand it over? People do that on here every single day.

[Meuh6879]

pouring coins into bullshit investment schemes run by totally anonymous showers of shit, lending on here to shambolic morons, asking the question 'where do I get free coins?'

well, i have somes neighboors that they loose all here time to click on AD to receive micro-cent of euro ... i don't understand this.

well, i don't have any time, too ... to loose. 
i have maid the shortcut : all my economies are already stored in BTC to avoid freezing account of my bank.

when i need money, i search for my cold storage ... use echange and charge my credit card to buy.
no need to open bank account now.

[Mickeyb]

There's a consistent theme that I see popping up on here that I find rather fascinating, and that is the way that many posters perceive BTC.

What do I mean? People doing things with BTC that they'd never, ever dream of doing with their dollars - gambling as an 'investment', or gambling at all, pouring coins into bullshit investment schemes run by totally anonymous showers of shit, lending on here to shambolic morons, asking the question 'where do I get free coins?'

Considering how much of a pain up the arse it can be to obtain coins and keep them safe and their future potential, I find it bizarre that there's such an extreme disconnect. I would've thought it should be at the opposite end of the scale but that's clearly not the case for many.

Why do you think this attitude has developed and where do you stand yourself?

Of course Bitcoin is a real money! Didn't the EU confirm this also yesterday as well?

Of course, I am joking. Look, all these people that she pissing their bitcoins down the drain as you have said on gambling, shady investments, etc are doing the same thing with their Fiat, rest assured.

This is how you see raised and how you look after your money. These are the habits that people have nevermind is it Fiat, bitcoins, or a sack of potatoes that might be used for paying and buying stuff.

[ajareselde]

Bitcoin is as real as money as it's possible for something virtual. The reason it attracts scammers and fortune seekers is the anonymity behind it, allowing
all sorts of scammers to abuse with little or no risk of getting caught, and then - rinse and repeat..
It reminds me of once very popular liberty reserve, which has similar issues, but unlike bitcoin, it was centralized and easily shut down by fed's, but none the less - it had no problem with acceptance.

[mtnsaa]

It has value if that's the question. In my country is unheard of and I can see how I can use it online but it would be much cheaper to just use my credit card or paypal. Buying my BTC was very difficult and expensive so what's the point of expending it?

I treat it as an investment or stock, but not real money. Hopefully in the future it will be closer to a worldwide currency than it currently is.

[mirana12345]

It has value if that's the question. In my country is unheard of and I can see how I can use it online but it would be much cheaper to just use my credit card or paypal. Buying my BTC was very difficult and expensive so what's the point of expending it?

I treat it as an investment or stock, but not real money. Hopefully in the future it will be closer to a worldwide currency than it currently is.

Even tho you can not use it in every store (unless you're using one of bitcoin fueled debit cards), you still can pay many online services and in many online shops with it directly.
It surprises me that it was "very difficult and expensive " for you to buy BTC ; i live in a rather small country and i can still buy it just by depositing via bank account and get it same day,
and on top of that - fee's i pay are rather funny and not noticable at all.

[Cereberus]

Bitcoin is real money to me and many others. As long as it has value it is as good as any currency to myself.
The first time I commited to see it that way was when I saw a story on the news about how a bar in Germany was accepting it to pay off your tab and purchase some goods in their stores. If Germans had faith in this as a currency (real enough money) to purchase their most prized possession in the month of October (beers ) then it is something to be concerned about.

[Light]

From a risk perspective I feel like it's the same thing at casino's where they switched to chips and credits. IIRC there have been psychology studies that noted having an alternate "form" (for lack of a better word) creates a disconnect between the value of the chips in relation to their actual worth in the player's mind. Hence you would be right in assuming it would promote riskier behavior -  which is what we see with the gambling, investment schemes and lending.

[blackmachinegun]

for me,thats true. bitcoin is real money for me 

[mtnsaa]

It has value if that's the question. In my country is unheard of and I can see how I can use it online but it would be much cheaper to just use my credit card or paypal. Buying my BTC was very difficult and expensive so what's the point of expending it?

I treat it as an investment or stock, but not real money. Hopefully in the future it will be closer to a worldwide currency than it currently is.

Even tho you can not use it in every store (unless you're using one of bitcoin fueled debit cards), you still can pay many online services and in many online shops with it directly.
It surprises me that it was "very difficult and expensive " for you to buy BTC ; i live in a rather small country and i can still buy it just by depositing via bank account and get it same day,
and on top of that - fee's i pay are rather funny and not noticable at all.

Well I guess it depends on the country. Every exchange charges either in fees or sell price. Let's be honest converting fiat to Bitcoin to spend it doesn't make sense at all for many of us. I do invest my bitcoin though, I've gain some profit doing crypto trading for example and minor gambling.