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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
Sundark
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April 27, 2017, 07:53:52 PM
 #1341

To add insult to injury, I missed a 5% cashback on my purchase which I would have received if I had paid with the card.
This is a known practice. If you use PayPal you don't pay for it, but instead merchants need to pay "transaction fee" for you.
I don't know if that fee is the same in every case, but when you are using ebay to sell items the fee for each transaction is 2.9% + $0.30 USD of the amount you receive.
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timerland
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April 27, 2017, 09:46:55 PM
 #1342

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.
I may agree with you partly, because in fact many people do not trust cryptocurrencies at all, even in bitcoin because thsy simply cannot touch, see or smell it. So they might think it has no real value: but it is not true, there are many things which are worth a lot but do not really exist physically, for example expensive skins in games.

But there are way more differences between fiat money and cryptos, you need to remember that for example bitcoin is a decentralized currency, when a US dollar is emitted by the federal reserve: so it is not decentralized.

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April 27, 2017, 09:55:07 PM
 #1343

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

Obviously,  that is digital currency, it has no physical coin at all. And not all people don't have a faith in bitcoin, they just don't know what is bitcoin and what it holds in the future. Another thing, not all people like to hold their money, especially when you have too much, they keep it in a bank and own an ATM for withdrawing if they needed them. It is like bitcoin if you ask me,but, the bank is yourself and you supervise your own money. There are many difference of bitcoin into fiat, what I love is it's decentralization.


 
 
 
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Silberman
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April 28, 2017, 02:48:19 AM
 #1344

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 don’t fell comfortable investing in bitcoin then don’t do it no one is obligating you, we have investment in bitcoin because we believe in the technology and the way it can affect the future of finance around the world.

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agamasrori
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April 28, 2017, 03:45:22 AM
 #1345

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

Obviously,  that is digital currency, it has no physical coin at all. And not all people don't have a faith in bitcoin, they just don't know what is bitcoin and what it holds in the future. Another thing, not all people like to hold their money, especially when you have too much, they keep it in a bank and own an ATM for withdrawing if they needed them. It is like bitcoin if you ask me,but, the bank is yourself and you supervise your own money. There are many difference of bitcoin into fiat, what I love is it's decentralization.
Thats also explain that using bitcoin could give us full control but if we use paper money and we keep it in bank so government can also controls our money. some countries were do limitation to withdrawl money in bank in every month.


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radjie
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April 28, 2017, 05:35:54 AM
 #1346

If you see this topic then I would answer between real money and clear bitcoin is different, but the same can be used for needs.
Indeed a bitcoin can generate real money, that sets it apart is just how it generated.

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DoublerHunter
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April 28, 2017, 10:48:00 AM
 #1347

If you see this topic then I would answer between real money and clear bitcoin is different, but the same can be used for needs.
Indeed a bitcoin can generate real money, that sets it apart is just how it generated.
Real money and bitcoin is clearly different because bitcoin is a currency and can be investment at the same time while the real money is just a currency and you can't use it for investment or even hold it for long and wait for the value of your real money to get doubled, that is not how the real money works so i don't think they are same in terms of needs.

doaremon
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April 28, 2017, 11:48:58 AM
 #1348

Bitcoin create many opportunities to earn more. But dollar is just to pay or get paid.And in bitcoin its price increases over time(decreasing chance is very low). Its untraceable and safe. You don't need to pay tax for the amount of bitcoin you own. Easier transaction and low fee is also a reason to attract people to bitcoin. Its the future money. Trading, investing, mining etc are the ways to get bitcoin.
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April 28, 2017, 03:40:48 PM
 #1349

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 of bitcoins and real money aren't really that big.. Bitcoins may easily be converted into many types of money, but i guess not all banks convert it to real money especially the local banks.. Forgive me cause i really don't have a background on converting bitcoins to money, although i know that real money is just like a bitcoin.. Its just a presentation of different types of values that a real money have however, bitcoins are not that easy to pay interms of buying food in a grocery store, because real money is more popular or known by all people with or without an internet to use daily, in other words.. Bitcoins are for those people who knows and have a backgroud for the values of a bitcoin.. And real money is for the people everywhere because it is used by all the people to buy what they need and what they want.. This is just my opinion.. Smiley thank you..

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April 28, 2017, 04:53:39 PM
 #1350

I think the difference is simple, Bitcoin is a fiat , a commodity and a payment processing system at the same time whereas fiats (example; US$) keeps being fiat and nothing more. Bitcoin prices are volatile and subject to periodic volatility because of its commodity characteristics, it likewise exhibits fiat characteristics and can also be used as a syst m of processing payments worldwide.



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April 28, 2017, 06:26:02 PM
 #1351

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.



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April 28, 2017, 08:55:30 PM
 #1352

I think the difference is simple, Bitcoin is a fiat , a commodity and a payment processing system at the same time whereas fiats (example; US$) keeps being fiat and nothing more. Bitcoin prices are volatile and subject to periodic volatility because of its commodity characteristics, it likewise exhibits fiat characteristics and can also be used as a syst m of processing payments worldwide

Conceptually, Bitcoin has nothing to do with commodities

And still less its volatility is due to its "commodity characteristics". In fact, if Bitcoin were a commodity, a genuine commodity in the proper sense of the word (i.e. an article of commerce like a finished product or raw material), we would never see these levels of volatility at all. The same basically pertains to US dollars (or any fiat, for that matter), so the only thing that I agree with in your post is that Bitcoin is a payment system in and of itself while dollars (as well as other fiat currencies) need special entities called banks to make transfers possible (obviously, I refer to digital monies here)

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April 28, 2017, 10:14:50 PM
 #1353

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.

It's not a maybe that bitcoin can be used all over the country. Because we can use bitcoin wherever we are in this world.

As long as you have internet connection you can use it and that's what we need before using bitcoin for purchasing things that we want.

While real money it doesn't need internet connection because it's a real medium of exchange which is needed by a country.

And it is physically can be touch while bitcoin can't.

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April 28, 2017, 10:21:02 PM
 #1354

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.
I agree with you, Bitcoin is an international currency, So everyone around the world can use it, whether on the internet or real world. but when we talk about physical currency, we can only use it in one or maybe few countries like dollar or euro .. etc.
So, I think this is the main difference between bitcoin and real money.

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April 28, 2017, 11:13:18 PM
 #1355

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.
That actually depends, because there are some currencies which are not only used in one country, but many more.
I can give you a good example, you can just use Euro in this case.

But you can always take the currency let's say from United States (so you take $) and travel with them to Europe, for example to Germany.
There is no problem to convert the USD into Euro, which you can spend in there. All is about finding trusted cantor where you can exchange the money, and to get a good rate on this trade.

With bitcoin you can do the same, but you dont need to travel with cash: you just need some access to the wallet with funds stored.

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April 29, 2017, 08:59:56 AM
 #1356

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.
I agree with you, Bitcoin is an international currency, So everyone around the world can use it, whether on the internet or real world. but when we talk about physical currency, we can only use it in one or maybe few countries like dollar or euro .. etc.
So, I think this is the main difference between bitcoin and real money.
All of the difference is good ofcourse we have different opinions what will be uts main difference and i guess those difference is all correct. We only need to use this differences in a good way. Digital money in online and the other currency to be use in local or in other countries .


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April 29, 2017, 11:31:51 AM
 #1357

Well, maybe bitcoin can be used all over the country, or on the internet. While real money, is only used in a country, because the fiat in each country must be different, such as altcoin. So many bitcoin comparisons with real money.
I agree with you, Bitcoin is an international currency, So everyone around the world can use it, whether on the internet or real world. but when we talk about physical currency, we can only use it in one or maybe few countries like dollar or euro .. etc.
So, I think this is the main difference between bitcoin and real money.
All of the difference is good ofcourse we have different opinions what will be uts main difference and i guess those difference is all correct. We only need to use this differences in a good way. Digital money in online and the other currency to be use in local or in other countries .
I agree with you. Everything has its own differences and also the bitcoin and the fiat or real money because they are created for their own purposes and not that idea to compete to each other and see who will be the last currency standing. Bitcoin is just like a back up or a better addition to the financial system of our world and it will be a huge help for the fiat currencies and not a threat for them.

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April 29, 2017, 12:55:10 PM
 #1358

Bitcoin is anonymous crypto currency, but it is not so easy to use as real money.
I don’t agree with you that bitcoin is an anonymous currency and easiest way of paying and get paid. It’s a digital currency and you can easily transfer, receive and shop through like fiats yet with more conveniences. I can easily top-up my cellular phone through bitcoin in my area as well as shop many goods.

Honestly I am not finding any big differences between bitcoin and real money in my day to day life.














 

 

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April 29, 2017, 01:06:16 PM
 #1359

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.

in real money we can see it and touch it, we can directly send it to banks whether we like it or not. and most people trusted physical money as we can say a real money because we can saw it unlike other crytocurrency and bitcoin doesnt know in all countries yet, that's why it is one of the problem regarding bitcoins. There are no big difference between them.

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April 29, 2017, 02:04:23 PM
 #1360

In my opinion, money and bitcoin are a necessity, and they co-exist together. There is a big difference between the two, but one thins is for sure, it's for transacting whether payments or whatever. Cryptocurrency system needs an internet connection and to people without that would have a hard time learning bitcoin. Let's see what happens in the future.



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