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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
phr0stbyt3
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March 31, 2017, 12:43:03 AM
 #1161

You basically can't differentiate between the 2 as both have there own features.
If you see the price of currency doesn't change while the price of bitcoin keeps increasing and decreasing.
People use currency to buy stuffs from groceries while bitcoin isn't adopted for activities like this.
Plus currency can be printed so in general it has unlimited supply while bitcoin has high demand but supply is less

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March 31, 2017, 03:24:32 AM
 #1162

For me we can differentiate this two by investing, real money for the bank and real money to bitcoin.
Investing real money will give you small profit but less risk because you can see where you put your money.
Investing in bitcoin is much better income but you take high risk on this coin.
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March 31, 2017, 03:31:20 AM
 #1163

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.
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March 31, 2017, 04:27:08 AM
 #1164

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.

I think you just define what is bitcoin though, you did not compare it to the Fiat which the OP is expecting. Bitcoin is a digital currency which is intangible to us users, while fiats are real and tangible to us users which mean you can touch it. Bitcoin is not really accepted by some stores because of it's volatility and they are afraid of not having profit from it. There are still problems about these digital currency and must be formulated a solution before the users inflated and convert their bitcoin to other altcoin.


 
 
 
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March 31, 2017, 06:47:12 AM
 #1165

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.
actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

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March 31, 2017, 12:18:34 PM
 #1166

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.
actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.

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Fatanut
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April 01, 2017, 09:41:39 AM
 #1167

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.



You basically can't differentiate between the 2 as both have there own features.
If you see the price of currency doesn't change while the price of bitcoin keeps increasing and decreasing.
People use currency to buy stuffs from groceries while bitcoin isn't adopted for activities like this.
Plus currency can be printed so in general it has unlimited supply while bitcoin has high demand but supply is less


Bitcoin is just more volatile and it traded a lot but fiat currencies surely do move as well. But it doesn't move as much as bitcoins.

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BitHodler
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April 01, 2017, 09:52:20 AM
 #1168

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.
That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

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April 01, 2017, 10:17:34 AM
 #1169

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.
That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

The blockchain system is transparent and understandable. This I like it. For me, bitcoin is real money, which is convenient to use.
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April 01, 2017, 10:22:35 AM
 #1170

There is not big difference anymore as we see both can be used for purchasing things when it comes to talk about value. The only difference is Bitcoin still isn't being used offline due to its nature of digital currency. Whereas fiat in its original form can't be used directly for online payment. They both are currencies one backed by governments whereas other is semi-backed at the moment.

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April 01, 2017, 01:42:56 PM
 #1171

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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April 01, 2017, 01:47:07 PM
 #1172

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?

Basically, because you might earn decent profits

But this is not a given, obviously, and you might as well lose everything. And that will be your own fault since no one is forcing you to invest in bitcoins in the first place. Therefore, you should answer these questions yourself, no one guarantees you anything with Bitcoin. Ultimately, it is the same as with everything else. As the saying goes, no matter what you do in the end, this is what you intended to do all along

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April 01, 2017, 02:12:53 PM
 #1173

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?


It's very simple, really.
Bitcoin is decentralized, without any government or bank control.
Bitcoin is also the most popular virtual currency, with great potential to become mainstream eventually.
If such scenario happen, btc price will jump to the sky.
So, use bitcoin if you wants alternative way of payment, in more secure way, if you like anonymity and if you can see ''big picture'' here, what bitcoin can become in the near future.

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April 01, 2017, 02:31:00 PM
 #1174

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.
That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

You seem to have missed the whole point of the other poster

The question is about the possibility of using bitcoins offline. You strike a deal with someone and give him the keys from the wallet which contains the agreed amount. There are quite a few risks involved in such and similar deals but that is ultimately inconsequential to the fact that you can transact offline. Other than that, many offline deals involve this kind of risk, i.e. you have to trust the other party (more than the other party has to trust you) and vice versa

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April 01, 2017, 03:13:13 PM
 #1175

The first difference that I feel Bitcoin is good at, is its value which is not the same all the time if compared to the real money that what you will give, you will get anything relevant to that exact value itself that is already written over it and it can't change. As you have asked that why you need to convert your money into Bitcoins, this is the only fact here that Bitcoins are more secure as they would let you be completely anonymous because when you will transact your $$$ from your bank for Gambling purposes, it will be known to everyone but that's not the thing with Bitcoins.

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April 01, 2017, 07:24:59 PM
 #1176

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.
actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.
you are right that bitcoin can be online use through internet mean bitcoin is a digital currency and i think fiat is real money which can be use in local shopping store. 

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April 01, 2017, 07:57:00 PM
 #1177

Inflationary and non inflationary.
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April 01, 2017, 08:59:34 PM
 #1178

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.
That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

You seem to have missed the whole point of the other poster

The question is about the possibility of using bitcoins offline. You strike a deal with someone and give him the keys from the wallet which contains the agreed amount. There are quite a few risks involved in such and similar deals but that is ultimately inconsequential to the fact that you can transact offline. Other than that, many offline deals involve this kind of risk, i.e. you have to trust the other party (more than the other party has to trust you) and vice versa
I got that point, but that doesn't mean the risks involved aren't worthy of being mentioned. It's more a notification for others that are going to ever do such type of trading.

Newbies (due to the lack of understanding) just assume Bitcoin is safe to be used in a certain way, or that they trust too much in Bitcoin's "anonymity". It's a common thing nowadays.

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April 01, 2017, 09:08:14 PM
 #1179

There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

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April 01, 2017, 09:44:02 PM
 #1180

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.
actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference
Using bitcoin as a commodity is a side benefit from bitcoin but actually bitcoin is a like a real money which is playing its role for to benefit people on online world to give convenience to online businesses and online international transactions.

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