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Author Topic: Difference between Bitcoin and real money?  (Read 110553 times)
crst
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September 10, 2016, 06:13:57 PM
 #1

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?
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September 10, 2016, 06:20:43 PM
 #2

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

To escape from the traditional banking system.

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?

See above Smiley

If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?

Not sure here, but maybe Bitcoin because Bitcoin deposits are faster.

What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?

Taxes depend on your country. You don't get more or less income with Bitcoin. You get freedom, faster transactions and a way to keep your money yourself, safely.
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September 10, 2016, 06:26:59 PM
 #3

Welcome to Bitcoin and to the Forum!

The questions you're asking are great ones. However, they're also questions that you can find answers to REALLY easily on this forum or Google. I'd encourage you to do some reading here and then come up with some more specific questions.

I can help get you started with some simple answers.

Why would I invest in bitcoin? All sorts of reasons ranging from pure curiosity to love of new technology to investment diversification. Bitcoin is used as currency to buy things and as a store of value, i.e., a place to house your savings with hopes of value appreciation or hedging against the depreciation of stocks or savings held in fiat currency. One example often used is that of Cyprus. Are you familiar with the country of Cyprus and it's severe monetary crisis from a few years back? It was so bad that the Cyprus government controlled how much money their citizens could take out of their banks. Think about that. That government telling you that you can't access your very own money! How scary is that? Bitcoin offers an alternative. No government (currently) can seize control of your bitcoin, this represents safety and security.

What's the difference between bitcoin and dollars? Bitcoin isn't regulated by any government. It isn't created "out of thin air" as fiat currency is. There will only ever be a finite amount of bitcoin, which controls it's value. Once all bitcoin is mined there will be 21 million in existence, that's it. No one can ever create more (as is done every year with fiat currency). When fiat currency is created by central banks they reduce the value of the existing currency in the market, which results in inflation of prices. This is why the price of every day things (that haven't changed in 50 years, like groceries or utilities) have gone up in price over time. There's a lot of other differences, but it's better for you to read up on them.

Why would I gamble with bitcoin? I don't, but if you want to you can gamble for significantly smaller portions of money (like cents as opposed to dollars or tens of dollars). And you can do it from the convenience of your computer.

Here are a few links for you to explore:

Feel free to respond with other questions. I think you'll get better response if you educate yourself a bit first and then come back with more specific questions.

Have you bought any bitcoin yet? Do you have a wallet yet? (If you don't, PM me and I'll set you up and give you some bitcoin)

Good luck to you!

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September 10, 2016, 06:29:51 PM
 #4

Different between bitcoin and real money in my opinion is we can know how much bitcoin in the world and there are not people who can make manipulation about it and we don't know how much real money who be printed.
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September 10, 2016, 06:30:39 PM
 #5

There are many differences of bitcoin and real money.. bitcoin you can use it online as alternative real money you can buy anytime there.. in bitcoins you should have too because many other will exchange it fast and instanly in our place.

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September 10, 2016, 06:53:35 PM
 #6

Both are currencies. Bitcoin is a digital currency and other local currencies we are using is normal currency with which we can purchase or do anything we need. As bitcoins is a digital currency, we can only shop or do anything only online. We can shop around and do more things online. But with other local currencies, we can do more / lot where we live.
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September 10, 2016, 07:01:40 PM
 #7

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

So that you can spend the bitcoins when you want to buy things that can be purchased with bitcoins?

Or, if you believe in the long term potential of Bitcoin, then so that you can increase your purchase power as the bitcoins are valued more?

Or, so that you can secure your money with a password and create a backup of your money?

Or, so that you can protect your money from the erosion of inflation caused by the excessive printing of more currency?

If I want to buy stocks or invest money I can easily invest with real $.

Bitcoin is real money.

Why would I convert my $ to bitcoins?

You already asked that.  I already answered it.


If I want to gamble , I can simply gamble on websites that require $ as currency,

If you want to gamble, you can simply gamble on websites that require bitcoins as a currency.  Why would you convert your bitcoins to $?

why would I convert it to bitcoins?

You've now asked that question 3 times.  I've answered it once.  Once is enough.

What's the difference between Bitcoins and dolars?

Here are just a few differences:
  • Bitcoins are an electronic form of money.  Dollars are a physical form of money made of linen.
  • Bitcoins are limited in quantity.  The Federal Reserve can create as many dollars as they want.
  • You can create a backup of your access to bitcoins.  You can't create a backup of your dollars.
  • You can secure your access to your bitcoins with a password and cryptography.  You can't encrypt your dollars.
  • It is much easier to store a large amount of bitcoins.  It can be difficult to securely store a large amount of dollars.
  • You can send bitcoins over the internet.  It is difficult and/or expensive to send dollars over significant distances.

What does bitcoin bring to the table that real $ don't, less taxes, more income?

Bitcoin IS real money.  You've now asked the same question 4 times.  I think you might have a problem with repetition.

richardsNY
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September 10, 2016, 07:05:46 PM
 #8

Both are currencies. Bitcoin is a digital currency and other local currencies we are using is normal currency with which we can purchase or do anything we need. As bitcoins is a digital currency, we can only shop or do anything only online. We can shop around and do more things online. But with other local currencies, we can do more / lot where we live.

Fiat purchases happen mostly in digital form nowadays. At least, here where I live. In case of spending it quick and without any hassle, the payment system here works very well. I can buy anything instantly in physical stores and online. In that aspect Bitcoin isn't really going to break through here. Where Bitcoin can be of great help, is as an investment option, or store of value to keep your money away from banks and governments.

My reply is also pointed to OP for a major part.

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September 10, 2016, 07:15:32 PM
 #9

to be unknown in any transactions online.. Cool
HabBear
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September 10, 2016, 07:32:56 PM
 #10

Danny Hamilton, speaking of the quality of posts - why are you repeating what others have said and berating this guy for asking questions? So he repeated himself a few times, good lord, who cares? He's new, he's interested, are you trying to turn people off Bitcoin?

Get over yourself, Danny! Either treat people with respect or don't comment. It's one or the other.

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

So that you can spend the bitcoins when you want to buy things that can be purchased with bitcoins?

Or, if you believe in the long term potential of Bitcoin, then so that you can increase your purchase power as the bitcoins are valued more?

Or, so that you can secure your money with a password and create a backup of your money?

Or, so that you can protect your money from the erosion of inflation caused by the excessive printing of more currency?

If I want to buy stocks or invest money I can easily invest with real $.

Bitcoin is real money.

Why would I convert my $ to bitcoins?

You already asked that.  I already answered it.


If I want to gamble , I can simply gamble on websites that require $ as currency,

If you want to gamble, you can simply gamble on websites that require bitcoins as a currency.  Why would you convert your bitcoins to $?

why would I convert it to bitcoins?

You've now asked that question 3 times.  I've answered it once.  Once is enough.

What's the difference between Bitcoins and dolars?

Here are just a few differences:
  • Bitcoins are an electronic form of money.  Dollars are a physical form of money made of linen.
  • Bitcoins are limited in quantity.  The Federal Reserve can create as many dollars as they want.
  • You can create a backup of your access to bitcoins.  You can't create a backup of your dollars.
  • You can secure your access to your bitcoins with a password and cryptography.  You can't encrypt your dollars.
  • It is much easier to store a large amount of bitcoins.  It can be difficult to securely store a large amount of dollars.
  • You can send bitcoins over the internet.  It is difficult and/or expensive to send dollars over significant distances.

What does bitcoin bring to the table that real $ don't, less taxes, more income?

Bitcoin IS real money.  You've now asked the same question 4 times.  I think you might have a problem with repetition.

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September 10, 2016, 08:22:30 PM
 #11

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?


The big differences because they can decrease the bitcoin and increase its value . And bitcoin price is too high compared to other currencies like the dollar big difference . And the real money can buy anything and no matter where you are . The bitcoin I need to convert it into cash for costly. Bitcoin can give us a lot of profits. Bitcoin can give us big profit and interest if we stored them in out btc wallet and wait the price high more profit you get into it. But your money deposit into a bank very small profit you get. That is big difference between btc to real money.

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SmartIphone
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September 10, 2016, 09:27:43 PM
 #12

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?


If you plan to invest in something for a long term then you found a good place to invest in (even though it is risky)
But in case you want to spend more often then you should probably use also a bitcoin debit card for places where bitcoin is not accepted.

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September 10, 2016, 10:57:14 PM
 #13

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?

Why would you convert money into Bitcoins? The same reason that people convert money into shares and gold, for long term investments and to have more diverse assets, not just fiat.

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September 10, 2016, 11:20:40 PM
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The most fundamental difference of bitcoin and real money is its shape. real money in the form.
while bitcoin have a digital system that is not visible. but both have in common is both used as currency.
both have a value that can be used for life.

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September 10, 2016, 11:53:25 PM
 #15

difference bitcoin has advantages in terms of its value increasingly rising,in contrast to real money drop price bitcoin more desirable because stable prices but bitcoin has a great risk of losing rather than real money dependent people who have a need bitcoin or real money,choose a digital money or real money is the same because all for payment transactions.
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September 11, 2016, 12:04:56 AM
 #16

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?

You can easily invest your cash into stocks and put it away into saving with real money, yes, and that isn't something that bitcoin is supposed to do better than cash.

If you want to gamble, it is far better and easier to gamble using Bitcoin because withdrawals typically take a much shorter time compared to most online casinos, and the income that comes from it is far less traceable and taxable than normal funds being moved.

Bitcoin does offer next to no taxes (with the only tax being a miner's fee), and it does overall give you a larger income because of this. Bitcoin is more traceable, technically, than cash, however it is far more secure and you can make multiple copies of the same thing to protect it, unlike basically everything in real life where there is one copy of it and if that copy is destroyed it is gone.














 

 

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September 11, 2016, 12:21:22 AM
 #17

If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?

Gambling on bitcoin websites allows you to deposit and withdraw "instantly" - receive your withdrawal instantly to ~30 min, to a day depending on the site and their withdrawal policy.

Also, bitcoin gambling sites don't require any verification of proof of identification, proof of address, any bank account/credit card information. No need to send in copies of ID, utility bills or bank statements. And thus, no need to worry about any of that personal info being stolen.
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September 11, 2016, 12:27:18 AM
 #18

to be unknown in any transactions online.. Cool

I wouldn't recommend BTC if you're looking for privacy since BTC isn't private or anonymous: https://bitcoin.org/en/you-need-to-know

Here's a good starting point if you're looking for a private and untraceable coin: https://moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php

Bitcoin is great for general purchasing and investment. Check out https://purse.io to save 15% off Amazon purchases if you use Bitcoin.

When you consider that the currency of most countries is backed by nothing but faith in that country's currency (including USA), and that they routinely print more money in order to "have" more money, it's almost nonsensical. At least with BTC there is a fixed amount that can't be manipulated (at least not easily).

Comparison of Privacy-Centric Coins: https://moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php also includes Verge and Pivx
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September 11, 2016, 12:31:10 AM
 #19

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?


If your money is in bitcoin while gambling or while doing other investments there is a chance that you might be swept with the wave of it.
Although risky if it falls but as of now the more you wait the better you get. Its just always rise for now. Just months ago it was at $350 look at it now. Can your $ do that?

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September 11, 2016, 12:34:52 AM
 #20

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?

you are not totally right because you can convert your money in doller but you can not trade with doller because the price of doller not goes down and up sharply but in btc there is sharp and big down and fall and increaee in the rate day per day happened . so bitcoin provides us a way to get better way for trading .
and second thing is the no. of people wants to buy btc are more than the dollet buyer .

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