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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
n691309
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November 04, 2016, 08:57:32 AM
 #121

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 difference is that real money is physical (cash) and bitcoin is virtual, also the real money is virtual but we can withdraw them in cash, the difference I think is who accepts bitcoin and who real money, this is the main difference because the bitcoin holders can't use bitcoin everywhere we want.

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November 04, 2016, 09:29:52 AM
 #122

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.

Who in the world classes Bitcoin as real money?

In the States, the Constitution says that only gold and silver are real money. So, even fiat isn't real money.

Cool
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November 04, 2016, 09:38:26 AM
 #123

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?


For me, as for gambling purposes is easier if you use biotcoin. Because you should know I live in a country where the use of the dollar is very rare, and only for specific purposes only. And I think it's easier to use bitcoin than the dollar, hence why I chose bitcoin. hehe
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November 04, 2016, 11:00:59 AM
 #124

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.
I think there is no difference between bitcoin and real money, bitcoin is also a real money. bitcoin might be compared with paper money or cash, maybe it will have some differences


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November 04, 2016, 01:02:45 PM
 #125


Actually invest in bitcoin does not hurt. We can take advantage of fluctuations in bitcoin to benefit, because the price of bitcoin on the fluctuations tend to rise and it was excellent. When asked the difference between bitcoin and real money of course there are many differences. As bitcoin prices always fluctuate rather than real money, bitcoin does not have a form, while money has a form. If talk about the risk of all types of investment risk. So maybe it would not hurt if we try to invest in bitcoin, because bitcoin has a great potential.
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November 04, 2016, 01:45:59 PM
 #126

lot of difference between bitcoin and real money because. bitcoin is decentralized and real money is centralised, no one can take money from our wallet.
bitcoin is not printed like paper currency but it is stored in computer electronically.
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November 04, 2016, 04:05:46 PM
 #127

real money is just an agrement by which government pays us a value in exchange we can get facilitys in our country these agrements do not have any ownership so anybody can have these and exchabge these but in the bitcoin system these are not agrements anymore its an digital system which transact some fixed digital money between people over the world

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November 04, 2016, 04:27:42 PM
 #128

With some fluctuations, the price of it is still increasing. You can easily dispose your bitcoin if you want to. You don't have to look for a buyer since there's exchange websites for that. Bitcoin is decentralized which means the government has no control over it. Which leads to the next advantage -- bitcoin has no tax. You can easily and quickly send money to another person through your smartphone when you use bitcoins.

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November 04, 2016, 04:34:35 PM
 #129

Real money? what real money dude the one that is just a piece of paper and governments give it value?
You can give bits of code value as well and transfer it between people, just like bitcoin.
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November 04, 2016, 04:45:34 PM
 #130

Difference between Bitcoin and real money, It's really simple, Bitcoin is more valuable than any real currency, You can see now 1 BTC = 700$
And maybe in 2-3 months, bitcoin will increase more than 800$, but for exemple dollars increase or fall slowly not like bitcoin.
You can see here the differance between bitcoin and any real money.
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November 04, 2016, 05:20:54 PM
 #131

Hello,

A bitcoin is a decentralized digital currency created by an individual or group of individuals under the pseudonym, “Satoshi Nakamoto.” Bitcoin does not rely on a central server to process transactions or store funds. And remember that no more than 21 million BTC can ever be created.

Coming to real money, it is the currency which is generated and recognized by your local government. It is dictated by certain laws made by the government. Generation of currency depends on the demand and supply model. And for the real currency you need to have a bank account and pay taxes to your government.

In case of bitcoin, it is a decentralized currency and so no need to pay taxes to any government and so a lot of savings. Transactions take place quickly.
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November 04, 2016, 05:37:08 PM
 #132

If real money you are referring is traditional fiat than better not to think bitcoin as fake money.

Bitcoin - secure, decentralize, anonymous, limited supply (supply can't be manipulated like fiats), in bitcoin your money will be under your full control

Traditional fiat - insecure, centralized by government/ manipulated by banks, unlimited supply (depends upon what banks/government like to have), and your money will be under control of banks and governments.

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November 05, 2016, 02:56:01 AM
 #133

The bigger differences: bitcoin is descentralized
you don't have a lot of places to spend your coins

If one day people start to accept bitcoin as a payment form, will be great.

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November 05, 2016, 03:09:30 AM
 #134

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?

Bitcoin is similar to a stock in and of itself, and thus you're basically doing the same thing but with a greater chance for decent returns.

Bitcoin has less taxes and is easier to gamble with. Almost exactly plug-and-play.

Bitcoin and dollars are different in a ton of ways, and you can google those for yourself.
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November 05, 2016, 04:15:07 AM
 #135

That’s good piece of questions, I believe that bitcoin is different than fiat in much broader sense. You can transact with bitcoins without actually revealing your identity and that is not possible when you transact with fiat currencies. Alternatively you will have limits (which might vary depending on websites) for the transactions in fiat but most of sites having bitcoin as a payment option, doesn’t have limits so you can transact as much as your capacity.

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November 05, 2016, 04:21:52 AM
 #136

That’s good piece of questions, I believe that bitcoin is different than fiat in much broader sense. You can transact with bitcoins without actually revealing your identity and that is not possible when you transact with fiat currencies. Alternatively you will have limits (which might vary depending on websites) for the transactions in fiat but most of sites having bitcoin as a payment option, doesn’t have limits so you can transact as much as your capacity.
Well it's assumed you don't reveal your identity when you transact Bitcoin, but it is possible to find out who someone is if you get them to give you enough information. Something very possible from a lot of existing shops.
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November 05, 2016, 04:46:19 AM
 #137

That’s good piece of questions, I believe that bitcoin is different than fiat in much broader sense. You can transact with bitcoins without actually revealing your identity and that is not possible when you transact with fiat currencies. Alternatively you will have limits (which might vary depending on websites) for the transactions in fiat but most of sites having bitcoin as a payment option, doesn’t have limits so you can transact as much as your capacity.

I am totally agree with you , bitcoin have featured in transactions that can use for anonymously by everyone.
The identity of bitcoin user is secured if we compared it with fiat. Fiat should be clear who own it. But both of these have differences used for and different advantage when we use these.

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November 05, 2016, 12:40:28 PM
 #138

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.

Who in the world classes Bitcoin as real money?

In the States, the Constitution says that only gold and silver are real money. So, even fiat isn't real money.

Cool
Depends really what your definition is for real money, for me real money is something that has worth which bitcoins have. So for me, I would any day of the life will buy bitcoins for cash because there is no difference for me. While for someone who thinks real is only things that can be touched then cash is real money for him/her.














 

 

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November 05, 2016, 02:33:04 PM
 #139

It is easier to send and receive with the use of bitcoin unlike real money where you need to go to remittance or a bank to withdraw and deposit. You can buy anything that can be purchased with real money unlike bitcoin.

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November 05, 2016, 05:25:04 PM
 #140

My opinion is this real money are physical and can be spent physically and also be traded physically and invest with..but as for btc its much likely digital not spent or seen physically but through digital, it can be used to as trading online with and other things as shopping and its safety is good..it can also be exchange for a real cash or money......
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