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Author Topic: Difference between Bitcoin and real money?  (Read 110633 times)
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November 03, 2016, 03:45:29 PM
 #101

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes  Grin And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.
Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds  Grin

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There are several different types of Bitcoin clients. Server-assisted clients like blockchain.info rely on centralized servers to do their network verification for them. Although the server can't steal the client's bitcoins directly, it can easily execute double-spending-style attacks against the client.
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November 03, 2016, 03:51:38 PM
 #102

  There is big difference between this two, they are not created on the same way, they are not distributed on the same way, and for now you can`t spend bitcoins on so many places like you can real money. And bitcoin is just in digital form, real money have bills.
   For me these are most visible differences, and differences that are most easier to understand. There are other more deeper differences, but this is how average person understand bitcoin and real cash.

I agree, the very obvious difference is, paper money is tangible bitcoin is not. paper money can be use everywhere, bitcoin can be use somewhere.  Paper money is backed by gold reserve, bitcoin is backed by speculations ( at this moment).  Bitcoin can be send anywhere in the world from one  bitcoin wallet to another bitcoin wallet directly  while money need a third party to be transfered anywhere in the world

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November 03, 2016, 08:05:52 PM
 #103

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes  Grin And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.
Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds  Grin
If you are enough skilled, you will get chances to make same huge profits from Forex trading, it is nothing but trading with fiat pairs. But I agree, compared to Forex trading, bitcoin trading is significantly easier and predictable in my experience too. But trading currencies and making profits is definitely not new just because of bitcoin ecosystem.


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November 03, 2016, 08:14:36 PM
 #104

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes  Grin And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.
Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds  Grin
You mean make profit with bitcoin in trading?
Yeah bitcoin become trader favorite to trade as the price move every seconds and so fast
This price volatile be an advantage , not like real money that have a slower price movement.
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November 03, 2016, 08:17:42 PM
 #105

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes  Grin And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.
Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds  Grin
You mean make profit with bitcoin in trading?
Yeah bitcoin become trader favorite to trade as the price move every seconds and so fast
This price volatile be an advantage , not like real money that have a slower price movement.

Price has started to move up and down fast only in recent times but if you look at the last couple of months then it was much stable and there was no big scope for making regular profits in bitcoin trading and that was the reason people switched their investments to altcoins to make quick profits.

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November 03, 2016, 08:19:45 PM
 #106

Instability can be one difference too. Money can be extremely unstable when a crisis takes place or so, but look at Bitcoin's price. It spikes all the time and we never know what to expect from it.
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November 03, 2016, 08:33:37 PM
 #107

The biggest difference for me is that i am looking bitcoin like an investment. To support of this idea, i convert my dollars to bitcoin. On the other hand i think there will be zero difference in future when the governments accept bitcoin as a real money.

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November 03, 2016, 08:43:59 PM
 #108

The biggest difference for me is that i am looking bitcoin like an investment.
Honestly, no currency is providing such an investment opportunity. Gold would be compared with bitcoin in this regard, still gold is just a medium of exchange not a currency. Interestingly this difference is adding an advantage to bitcoin system and not talking about any extra feature of currencies.
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November 04, 2016, 12:19:55 AM
 #109

I think there's not much big difference with bitcoin and real money. As what others saying, they are both currencies where we can both use in purchasing goods and services. The only difference maybe is that bitcoin continues to increase its value.

Here's an example. If you have one dollar today, you can buy 10pcs of candies. Five years later, due to unstoppable price increase in commodities, your one dollar may only buy 7 candies after five years. Compare it now to bitcoin. Lets say you have 1 dollar worth of bitcoin today of which you can still buy 10 candies. But five years later, since the price of bitcoin continue to increase, then after five years, your one dollar worth of btc may purchase 13 candies or more..

Hope i made it clear though. Smiley
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November 04, 2016, 01:58:38 AM
 #110

The difference of bitcoin and real money (fiat). I would say that both are did not have any different in function. But they have diference in advantage, bitcoin is have better advantage than fiat, bitcoin price is always rise against fiat.

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November 04, 2016, 02:42:12 AM
 #111

The difference of bitcoin and real money (fiat). I would say that both are did not have any different in function. But they have diference in advantage, bitcoin is have better advantage than fiat, bitcoin price is always rise against fiat.
It's not true that bitcoin price is always rise against fiat, you must understand that the basis of the price of bitcoin is with fiat hence we can say that without fiat bitcoin is worthless. We are dependent in fiat in every transaction we do since people have not fully trust bitcoin to be as a main currency.

Anyway, let us move on and accept it as it takes a long time before we can see bitcoin as a mainstream currency and we have live on the reality now.

 
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November 04, 2016, 02:50:57 AM
 #112

There is a big difference between bitcoin and real money. When you use
bitcoin and a later of the day you still convert it into real money though.
For me, the reason's why bitcoin rather is increasing its price and you
earn profit. This gives an earnings to everyone who really uses bitcoin
and convert it into real money.

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November 04, 2016, 03:30:51 AM
 #113

Even  if  they are  the same as  described as  a currency  but still they have difference in  many way. Bitcoin is  a digital currency and  not being  legalized and also  not been  known  by all people  unlike on  fiat currency  its being used  of all  people and   its legalized and being   controlled  by the government which is  opposite on bitcoin.

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November 04, 2016, 03:34:22 AM
 #114

It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.
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November 04, 2016, 06:06:55 AM
 #115

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?

We used bitcoin because we want free from centralized system, you want to invest in stock using your fiat is fine but does your stock is better than bitcoin, in this year bitcoin price already rise almost 100%, you can used fiat to gamble but you need identification to deposit and withdraw, bitcoin doesnt need any of those, the difference between dollar and bitcoin is nobody controlling while dollar is control by government

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November 04, 2016, 06:13:01 AM
 #116

It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.
Its also different in usage fiat can be use right away if you have it inside you pocket unlike btc you have to use a system which understand the service.

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November 04, 2016, 06:16:19 AM
 #117

It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.


Yup bitcoin is considered as illegal money to use in most of the countries apart from that there is no any difference between the bitcoin and the fiat currency. We need more adoption to break this wall to use bitcoin in all the places.
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November 04, 2016, 07:07:42 AM
 #118

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?

There are Only Two Difference Between Bitcoin and Cash Which are As Follows:-
1) Bitcoin. has Potential to Grow and With Bitcoin You can Buy Other Crypto currencies Also But Cash Has No Potential To Grow And You can't Buy Other Altcoins With Real Cash Directly.....
2) Bitcoin is a Anonymous Currency and If You Deposit Some Funds With your Bitcoin Wallet In a Casino that it Doesn't Reveals Your Identity But if You Deposit with Cash Your Identity Can Be Revealed.......

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November 04, 2016, 07:59:30 AM
 #119

Bitcoin is classed as real money now and has more attributes associated with real money than normal paper currency which is actually no longer real money since president Nixon unpegged the U.S Dollar from the gold standard, thus rendering it completely worthless. It only has worth and value as long as people are still using it.

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.
.Join the Trading Revolution.
staceyoh
Sr. Member
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November 04, 2016, 08:46:52 AM
 #120

Bitcoin is a digital currency you can
easily send money to other people
whenever you want in just one snap.
This makes the transactions faster.

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