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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
Jewell
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April 16, 2017, 04:13:38 PM
 #1221

Bitcoin - lower fees, you have your own bank, transactions is easier and faster, identity of the owner is anonymous, volatile value
Fiat - higher fees, you need some company to put your money on, transactions takes some time and requires some verification if you are owning a large amount, stable value

Yes and in fiat you cannot huge amount of money with you physically as there is always a chance of money getting stolen or getting robbed but with bitcoins you can carry any amount in your bitcoin wallet and no one would be aware about it.

And no one needs to explain why this money is in my account. And no one can ever freeze my bitcoins in my wallet.
When using fiat, I do not have such advantages

Practically all that you've said is true and the exact point that bitcoin has more advantages than fiat nowadays specially we are now adopting digital types of transaction like online savings account, but I can really say that fiat real money were more prone to be stealed rather than digital currency which is anonymous account. Physical touch can be appreciated by real money and bitcoin will be only appreciated through viewing it online, and you will see the actual amount by just logging in your wallet account.


People will never mind even if they cannot touch their bitcoins physically and they will be happy even to see it online in their wallet without touching it as the having bitcoin means having money and the main intention of people is to have more money for the future.
i think now people do not have enough time to count their cash with their hands then then manage them in sequence, they just what to use their money virtually and save their time. therefore they will never mind if they cannot touch their virtual currency.
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April 16, 2017, 04:39:45 PM
 #1222

Bitcoin - lower fees, you have your own bank, transactions is easier and faster, identity of the owner is anonymous, volatile value
Fiat - higher fees, you need some company to put your money on, transactions takes some time and requires some verification if you are owning a large amount, stable value

Yes and in fiat you cannot huge amount of money with you physically as there is always a chance of money getting stolen or getting robbed but with bitcoins you can carry any amount in your bitcoin wallet and no one would be aware about it.
Looks like you forgot to add that anyone with access to your private key is the actual owner of the coins, so cases of theft are not alien here nor something exclusive to fiat currencies. One more thing, lower fees is now, used to be with Bitcoin as these days we are daunted with increasing cost for carrying out transactions in the Bitcoin ecosystem and this a real cause for concern for most bitcoiners.

I think that is true, when other people have your private key, they can send or manage you bitclins inside that bitckin wallet. But this will only happen if you are kind enough to give your private keys to other people. Never do that , keep that safe. About the fees, it is really a pain in the ass. But we all know that the developers are having a solution for that. We better wait on what will happen in the future.

I wouldn't really say "kind enough" but rather I'll use "stupid enough". If you don't even know one of the basic stuffs in bitcoin, you shouldn't expose yourself just yet. Private key is called "private" for a reason. It's because it's not meant to be shared to other people. Sharing your private key is like giving out all of your bitcoins from that address.

The developers might have already think about a solution for the ever-increasing bitcoin's transaction fee but as long as they haven't implemented it on bitcoin yet, we will continue to experience huge transaction fees. A perfect solution is nothing if you fail to implement it.

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April 16, 2017, 07:42:21 PM
 #1223

The main difference between Bitcoin and Real money is Bitcoin is Independent

Normal currencies all over the world are controlled by a central bank in each country. This means that every aspect of the normal currency is highly influenced by the bank. These aspects include the inflation rates, the amount of currency to be printed as well as the interest rates. However, this particular system does not work with bitcoin as it is not controlled by a particular regulating body.

Bitcoin is independent or decentralized, thus it is not controlled by the government or financial agencies. The absence of a central entity that controls bitcoins makes it impossible for anyone to prevent its distribution through the peer-to-peer network between users located across the globe without any problems

Indeed, Bitcoin is far from fiat in terms of independence

That is, it is by far more independent than money printed by governments. But it is not perfect either. Right now, its fate is in the hands of a few miners if not just one miner (you know his name), so how is that particularly different from the control that governments are exerting on fiat they happen to issue? In other words, is it the kind of independence (in relation to, for example, fixed supply of new coins) that we may want Bitcoin to possess if it still remains highly vulnerable (read centralized) in other crucial and vital aspects?

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April 16, 2017, 07:44:52 PM
 #1224

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.

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NEWGOODOUBLE
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April 16, 2017, 11:13:15 PM
 #1225

bitcoin difference with real money?

 I was joined in bitcoin business a few years ago but I will try to explain in my opinion.

 1. if real money, we can hold it for physical shape while bitcoin could not due to digital form.
 2. The original money circulation is regulated by government regulations while bitcoin is not, so we can be free to use it.
3. bitcoin hold down inflation. BTC as save heaven like gold become resistant to inflation, in contrast with real money
True, the striking difference is bitcoin can be used as a profitable investment such as gold, while the real money can not do that. Cheesy

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April 16, 2017, 11:38:36 PM
 #1226


The difference of bitcoins in a real money is currency real money is a physical money and we can carry it anywhere and pay or buy something bitcoin is a virtual currency that we can only store in our bitcoin wallet maybe in a hardrive wallet, in a computer or in our phone.
Another is the exchange rate of bitcoin is a lot than a normal currency example dollar 1 bitcoin is a thousan dollars.
I think the difference is of the form itself. real money has a physical form and digital bitcoin. but both are the same and varied functions for pay something

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April 17, 2017, 12:00:16 AM
 #1227

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.
yes that is right to say that there are so many differences between bitcoin and real money, as bitcoin is online currency where as fiat is physical currency, fiat is related to some specific area, whereas bitcoin is a universal currency, fiat value changes from place to place, where as the value of bitcoin remain as same in all over the world.
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April 17, 2017, 12:25:07 AM
 #1228

It's sad that the topic starter has not been active for a long time, if he continued his journey here, he might just be richer than he is now. Bitcoin is very helpful towards what he is asking for like investing, saving, all kinds of stuff. There are a lot of difference between real money and fiat, it can go together.



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April 17, 2017, 12:58:52 AM
 #1229


The difference of bitcoins in a real money is currency real money is a physical money and we can carry it anywhere and pay or buy something bitcoin is a virtual currency that we can only store in our bitcoin wallet maybe in a hardrive wallet, in a computer or in our phone.
Another is the exchange rate of bitcoin is a lot than a normal currency example dollar 1 bitcoin is a thousan dollars.
I think the difference is of the form itself. real money has a physical form and digital bitcoin. but both are the same and varied functions for pay something

Yeah physical form is one of the factor that makes a big difference. The same has caused the fiat to get more acceptance than digital currency. If bitcoin has got a physical form it might have reached more number of users than the present because right now only the technically skilled people use it much than common men.

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April 17, 2017, 01:01:27 AM
 #1230

why you should prefere bitcoin at real money? to escape bank sistem and become your bank by yourself "BE YOUR OWN BANK" and why not your transactions are a little more anonimous that those with real money
I think here is not told to choose between real money and bitcoin. you can use them, the question is what is the difference between bitcoin and real money

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April 17, 2017, 01:03:13 AM
 #1231

Bitcoin needs to be fungible in order to be real money. With the way it sits right now bitcoins can be tracked, by the coin. If they were fungible this wouldn't be possible.
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April 17, 2017, 01:33:33 AM
 #1232

Yes theres a big difference  between bitcoin and money. Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. While money is a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
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April 17, 2017, 01:41:17 AM
 #1233

Yes theres a big difference  between bitcoin and money. Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. While money is a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.

Outline that you describe the difference of the rules, I agree with you, but their intrinsic no difference to function as a currency, if we look at the future of technology, is solution for bitcoin trading in bulk and not centralized. so I consider bitcoin will gradually become legal as Japan has done today.

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April 17, 2017, 03:51:25 AM
 #1234

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.
yes that is right to say that there are so many differences between bitcoin and real money, as bitcoin is online currency where as fiat is physical currency, fiat is related to some specific area, whereas bitcoin is a universal currency, fiat value changes from place to place, where as the value of bitcoin remain as same in all over the world.

very noticeable difference between boitcoin with real money is if bitcoin is virtual money and real money's fiat is legal in all states, the real money of course be recognized in all places. but bitcoin not, we can not transact in all places, in the store or market, and also bitcoin has no price control, berbada with real money which has oversight of the government, and the price of bitcoin is rapidly changing, but now bitcoin a choice of internet users to earn money and do business, not a few people who focus and make bitcoin their main job. but with the difference bitcoin and real money, we have many options for easier transactions can even earn money, .. Grin Grin

MoneyIsDebt
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April 17, 2017, 06:30:05 AM
 #1235


The difference of bitcoins in a real money is currency real money is a physical money and we can carry it anywhere and pay or buy something bitcoin is a virtual currency that we can only store in our bitcoin wallet maybe in a hardrive wallet, in a computer or in our phone.
Another is the exchange rate of bitcoin is a lot than a normal currency example dollar 1 bitcoin is a thousan dollars.
I think the difference is of the form itself. real money has a physical form and digital bitcoin. but both are the same and varied functions for pay something

both are the form of currencies. it depends upon the users that how he takes it. the main difference is real money is that it digital and most of the people prefer it because they don't want to take risk or understand the ethics of internet currency or they find internet currencies very risky without understanding it. for the use of daily life you have to exchange it in real money so, that is also a big difference for me. i think most of the people are using it for online earning through different means and for investment purposes and real money is used as local currency for daily use.

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April 17, 2017, 07:14:33 AM
 #1236

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.

I agree with this, being decentralize of bitcoin is the best difference of it to fiat or money, which makes bitcoin so unique and trying to beat by other coins Cheesy . Also the support of the people of earning it is so different to real one.

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poetra2501
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April 17, 2017, 07:51:24 AM
 #1237

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.

I agree with this, being decentralize of bitcoin is the best difference of it to fiat or money, which makes bitcoin so unique and trying to beat by other coins Cheesy . Also the support of the people of earning it is so different to real one.
Also, Bitcoin cannot to forged or corrupted as happened on fiat money.
Although for now the Bitcoin has yet to gain the trust of all countries to adopt this as
official currency like fiat money now, but I think Bitcoin is better than fiat money in this century.

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April 17, 2017, 09:37:19 AM
 #1238

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.
yes that is right to say that there are so many differences between bitcoin and real money, as bitcoin is online currency where as fiat is physical currency, fiat is related to some specific area, whereas bitcoin is a universal currency, fiat value changes from place to place, where as the value of bitcoin remain as same in all over the world.

"Fiat value changes from place to place" is like saying that cryptocurrency (as a whole) changes from website to website or platform to platform. There are different types of fiat and depending on the economy of the country that owns that currency is the price of that particular currency. Just like how there are different prices for every cryptocurrency. You generalized fiat to have different values depending on what currency you are using but you didn't categorize bitcoin into cryptocurrency. Bitcoin is just a part of the whole cryptocurrency system just like how dollar is a part of the whole fiat system.

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April 17, 2017, 09:48:15 AM
 #1239

I think real money is not in accordance with the needs of the times now because it is always below the inflation rate, as a result the value of the currency down
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April 17, 2017, 09:50:15 AM
 #1240

There are lot many differences between btc and paper money,
But biggest one is bitcoin is decentralized and its full supported by its market. It is great to have that kind of money in this age.

I agree with this, being decentralize of bitcoin is the best difference of it to fiat or money, which makes bitcoin so unique and trying to beat by other coins Cheesy . Also the support of the people of earning it is so different to real one.
Also, Bitcoin cannot to forged or corrupted as happened on fiat money.
Although for now the Bitcoin has yet to gain the trust of all countries to adopt this as
official currency like fiat money now, but I think Bitcoin is better than fiat money in this century.

It'll take some more years for the countries to give Bitcoin, it's value as a currency. Japan is an example now which is trying to understand the Bitcoin and thinking about legalizing. But Bitcoin is decentralized and that is not a good feature for government's.
Bitcoin is better than real money for sure.

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