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Author Topic: Difference between Bitcoin and real money?  (Read 114127 times)
Makest
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April 29, 2017, 03:34:28 PM
 #1361

Real money is just an agreement by which government pays us a value in exchange we can get facility's in our country these agreements do not have any ownership so anybody can have these and exchange these but in the bitcoin system these are not agreements anymore it's an digital system which transacts some fixed digital money between people over the world.

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April 29, 2017, 04:11:16 PM
 #1362

I think the biggest difference really is the acceptance.
While obviously cash is accepted ANYWHERE in the world, bitcoin is not even close. Most people still don't even have an idea what cryptocurrency even is

You forget an important thing here

Namely, that in the real world there is no abstract cash (as well as abstract digital fiat, for that matter). Cash always exists as some currency (the US dollar, Euro, or whatever). And here's the crux of the matter. Apart from a few major currencies (the same US dollar, etc), most currencies are accepted NOWHERE beyond the country which prints this currency, So, on the whole, it is in fact the majority of currencies (cash included) that are not even close to Bitcoin global acceptance. Remember that when you are going to write stuff like this again
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May 01, 2017, 12:54:35 PM
 #1363

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 don’t agree with you, if some people don’t trust bitcoin means that they are misunderstanding it as a fraud or something but they have no knowledge about bitcoins. But in reality you can convert bitcoin to fiat currency whenever you want. You can easily shop with bitcoins. In near future as more number of people will know about it and they will invest in bitcoin and will use it as their mode of payment and for receiving cross border payments.

The difference between bitcoin and real money will fade away in coming years. On a positive and hyper view, people may forget to distinguish what is bitcoins and what is fiats... lol
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May 01, 2017, 12:59:38 PM
 #1364

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.
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May 01, 2017, 01:18:43 PM
 #1365

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.
Actually its controlled by everyone (mostly the big player or holders with large amount of Bitcoin in their arsenal) that is one of the downside that Bitcoin has because its price can be greatly affected by one big sell off. Also I don't know what you are thinking about not paying taxes while earning Bitcoin, once you have converted your Bitcoin to Fiat Currency you will spend it and the government will know. It will be inevitable for you to be charged with tax evasion in your case because they will question your earnings while not listed in your main income report. There are no loopholes to it.

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May 01, 2017, 01:21:45 PM
 #1366

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.

Convenient in a way that if you were living on a place where bitcoin is highly accepted in which you can buy things easily with out bringing money. However if you were on a place where bitcoin is almost anonymous it is really hard for us tho the transaction really does helps us a lot especially those freelancers
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May 01, 2017, 01:36:31 PM
 #1367

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.

Convenient in a way that if you were living on a place where bitcoin is highly accepted in which you can buy things easily with out bringing money. However if you were on a place where bitcoin is almost anonymous it is really hard for us tho the transaction really does helps us a lot especially those freelancers

Even if bitcoin is not accepted in your area to buy anything directly you always have an choice to convert it to fiat currency and you can use that anywhere to buy anything so I don't think that its really hard to spend bitcoin nowadays.
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May 01, 2017, 01:40:05 PM
 #1368

The difference between bitcoin and real money is that, bitcoin is an electronic money but real money is the cash on hand. Though bitcoin is also be converted to money in whatever currency that you want or need. Bitcoin and real money are all useful and bitcoin can be converted into real money through banks or in whatever way that you want that are available.

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May 01, 2017, 02:21:14 PM
 #1369

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.

That's right, you really have the full ownership of your bitcoin same as real money, and real money is also convenient in a different way. But we all have different point of view in that matter.
And ofcourse in paying tax, transferring of funds have fees' and we also consider it as tax,so you are not really evading at paying taxes.
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May 01, 2017, 02:31:14 PM
 #1370

Bitcoin is not controlled by anyone and you can earn good money without paying taxes. It is very convenient.

That's right, you really have the full ownership of your bitcoin same as real money, and real money is also convenient in a different way. But we all have different point of view in that matter.
And ofcourse in paying tax, transferring of funds have fees' and we also consider it as tax,so you are not really evading at paying taxes.

I still didn't get the difference in your submission, well Bitcoin differs from real money in several areas but I have a few in mind so I will list them.
1. Bitcoin isn't printed out physically like real money.
2. Bitcoin has its own payment processor(the blockchain) than helps transfer Bitcoin globally.
3.Bitcoin isn't controlled by a central authority like a central bank or government.
4. Bitcoin is freedom and grants access to your money 24/7 securely without the need for a bank.



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May 01, 2017, 02:46:28 PM
 #1371

The difference between bitcoin and real money is that, bitcoin is an electronic money but real money is the cash on hand. Though bitcoin is also be converted to money in whatever currency that you want or need. Bitcoin and real money are all useful and bitcoin can be converted into real money through banks or in whatever way that you want that are available.

Yeah and the only difference is that we cannot hold bitcoins physically as we can hold real money and apart from that I don't see any difference in both of them as both are helping us in earning money and spending them on our needs.
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May 01, 2017, 09:16:19 PM
 #1372

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 very own title of the thread is mistaken, it ask about the differences between bitcoin and real money and not the differences between bitcoin and fiat, so it seems to imply bitcoin is not real money and even if you cannot touch bitcoin with your own hands bitcoin is very real.
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May 01, 2017, 09:23:04 PM
 #1373

The difference between bitcoin and real money is that, bitcoin is an electronic money but real money is the cash on hand. Though bitcoin is also be converted to money in whatever currency that you want or need. Bitcoin and real money are all useful and bitcoin can be converted into real money through banks or in whatever way that you want that are available.

Yeah and the only difference is that we cannot hold bitcoins physically as we can hold real money and apart from that I don't see any difference in both of them as both are helping us in earning money and spending them on our needs.
That is totally not true, I cannot agree with you.
You need to remember that bitcoin may be easily used for many different things, such as investing, paying for goods, making settlements between companies/people and even more.
I may be able to give you even more reasons, why there are more differences between bitcoin and fiat money.
Also, you need to spot that if you are willing to earn bitcoin, all you have to do is work through the internet, or even invest. With regular cash, you go to work to get payed.


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May 01, 2017, 09:24:02 PM
 #1374

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 very own title of the thread is mistaken, it ask about the differences between bitcoin and real money and not the differences between bitcoin and fiat, so it seems to imply bitcoin is not real money and even if you cannot touch bitcoin with your own hands bitcoin is very real.

Yes and if you can buy anything by exchanging bitcoin then its a real money as we don't have an option to spend them directly but we can always spend them by converting to fiat so there is not much difference in both of them.

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May 01, 2017, 09:30:55 PM
 #1375

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 very own title of the thread is mistaken, it ask about the differences between bitcoin and real money and not the differences between bitcoin and fiat, so it seems to imply bitcoin is not real money and even if you cannot touch bitcoin with your own hands bitcoin is very real.

Yes and if you can buy anything by exchanging bitcoin then its a real money as we don't have an option to spend them directly but we can always spend them by converting to fiat so there is not much difference in both of them.
That is totally true, and I have to agree with your opinion. We can treat bitcoin as a regular money, but it is just designed in a different fashion.
You dont earn it by doing a regular work in life, but only through internet as a freelancer, or even by posting on this forum.
Obviously, you have a an option to just invest your money converted into bitcoins, to make some return out of it.
So i think that there is no more differences between BTC and fiat, but it is still more useful than regular currency.


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kreskko
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May 01, 2017, 10:03:55 PM
 #1376

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 very own title of the thread is mistaken, it ask about the differences between bitcoin and real money and not the differences between bitcoin and fiat, so it seems to imply bitcoin is not real money and even if you cannot touch bitcoin with your own hands bitcoin is very real.

Yes and if you can buy anything by exchanging bitcoin then its a real money as we don't have an option to spend them directly but we can always spend them by converting to fiat so there is not much difference in both of them.
That is totally true, and I have to agree with your opinion. We can treat bitcoin as a regular money, but it is just designed in a different fashion.
You dont earn it by doing a regular work in life, but only through internet as a freelancer, or even by posting on this forum.
Obviously, you have a an option to just invest your money converted into bitcoins, to make some return out of it.
So i think that there is no more differences between BTC and fiat, but it is still more useful than regular currency.
Where to find a very large range of jobs that you can perform and earn money. But as for Bitcoin's earnings, the situation here is ambiguous, because all the work in my opinion is somewhat specific, although there are some moments, such as company signatures.
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May 02, 2017, 05:38:24 AM
 #1377

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 very own title of the thread is mistaken, it ask about the differences between bitcoin and real money and not the differences between bitcoin and fiat, so it seems to imply bitcoin is not real money and even if you cannot touch bitcoin with your own hands bitcoin is very real.

Yes and if you can buy anything by exchanging bitcoin then its a real money as we don't have an option to spend them directly but we can always spend them by converting to fiat so there is not much difference in both of them.
That is totally true, and I have to agree with your opinion. We can treat bitcoin as a regular money, but it is just designed in a different fashion.
You dont earn it by doing a regular work in life, but only through internet as a freelancer, or even by posting on this forum.
Obviously, you have a an option to just invest your money converted into bitcoins, to make some return out of it.
So i think that there is no more differences between BTC and fiat, but it is still more useful than regular currency.
Where to find a very large range of jobs that you can perform and earn money. But as for Bitcoin's earnings, the situation here is ambiguous, because all the work in my opinion is somewhat specific, although there are some moments, such as company signatures.
There is no politics involve if you are working for bitcoin because your decision will depend solely on what you think is right.
It is risky but if the outcome is success you will be the one to benefit, it's pretty different from real job because sometimes
promotions is not based on your performance but if you are close with your boss.


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Dhimas Kanjeng
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May 02, 2017, 05:53:26 AM
 #1378

I think it's obvious, for transactions and investment bitcoin better than real money, now we save $100.000 after 5 years then its value down, but bitcoin will increasing more than 500% in 5 years.

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May 02, 2017, 06:37:41 AM
 #1379

I think it's obvious, for transactions and investment bitcoin better than real money, now we save $100.000 after 5 years then its value down, but bitcoin will increasing more than 500% in 5 years.
Nobody can guarantee that the price will increase that much after 5 years, we are just looking on the past performance
but everything can change even in a short period of time.

 
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May 02, 2017, 07:29:18 AM
 #1380

I think it's obvious, for transactions and investment bitcoin better than real money, now we save $100.000 after 5 years then its value down, but bitcoin will increasing more than 500% in 5 years.
Nobody can guarantee that the price will increase that much after 5 years, we are just looking on the past performance
but everything can change even in a short period of time.
I do agree. In just one bad news, volitality can occured and its damaged could be huge and rapid, yet let's hope it won't happen. In the other hand as I see bitcoin's market, I don't currently see any reason why bitcoin is going to dump since there are many good news regarding bitcoin and projects are being introduced to investors which can help digital currency to be popular.














 

 

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