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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
genos
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May 04, 2017, 09:49:35 AM
 #1401

Bitcoin is a cryptocurrency and real money is cash ,bitcoin is also a currency but digital and at this time we cant use bitcoin to buy thing in many store unlike money we can use it to buy pretty much anything.
This All depends on public acceptance of bitcoin, we can see that bitcoin price is keep rising, this indicates that the number of bitcoin users continous to increase. Bitcoin is different with real money becuse it is new concept of payment system that decentralized.

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May 04, 2017, 12:05:48 PM
 #1402

Welcome to Bitcoin and to the Forum!

The questions you're asking are great ones. However, they're also questions that you can find answers to REALLY easily on this forum or Google. I'd encourage you to do some reading here and then come up with some more specific questions.

I can help get you started with some simple answers.

Why would I invest in bitcoin? All sorts of reasons ranging from pure curiosity to love of new technology to investment diversification. Bitcoin is used as currency to buy things and as a store of value, i.e., a place to house your savings with hopes of value appreciation or hedging against the depreciation of stocks or savings held in fiat currency. One example often used is that of Cyprus. Are you familiar with the country of Cyprus and it's severe monetary crisis from a few years back? It was so bad that the Cyprus government controlled how much money their citizens could take out of their banks. Think about that. That government telling you that you can't access your very own money! How scary is that? Bitcoin offers an alternative. No government (currently) can seize control of your bitcoin, this represents safety and security.

What's the difference between bitcoin and dollars? Bitcoin isn't regulated by any government. It isn't created "out of thin air" as fiat currency is. There will only ever be a finite amount of bitcoin, which controls it's value. Once all bitcoin is mined there will be 21 million in existence, that's it. No one can ever create more (as is done every year with fiat currency). When fiat currency is created by central banks they reduce the value of the existing currency in the market, which results in inflation of prices. This is why the price of every day things (that haven't changed in 50 years, like groceries or utilities) have gone up in price over time. There's a lot of other differences, but it's better for you to read up on them.

Why would I gamble with bitcoin? I don't, but if you want to you can gamble for significantly smaller portions of money (like cents as opposed to dollars or tens of dollars). And you can do it from the convenience of your computer.

Here are a few links for you to explore:

Feel free to respond with other questions. I think you'll get better response if you educate yourself a bit first and then come back with more specific questions.

Have you bought any bitcoin yet? Do you have a wallet yet? (If you don't, PM me and I'll set you up and give you some bitcoin)

Good luck to you!
Bitcoins is electronic or digital kind of money while real money is made from paper.Bitcoins don't have exact value like real money and the value of bitcoins will increase or decrease depends on the market.

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May 04, 2017, 12:10:55 PM
 #1403

The only difference that i can see on bitcoin versus the real money is being physical and virtual. Bitcoin is only digital money and the real money is physical which we are currently using right now. Another difference that i can see is in supply where bitcoin has a limited supply while real money has an unlimited.

Exactly, one more factor you missed when it comes to value bitcoin has the highest value when compared with real money. So many people bothering about whether bitcoin will stay for long to make most of it. Real money is being and act like crap many people are creating fake currency and whereas with bitcoin it is not possible.
Some say bitcoin is like gold 2.0, it's a digital currency, but really precious, its value significantly increasing recently and it proves that statement, whereas real money always is made every day and thus make the deflation towards the paper money and bitcoin still stay on its limited amount and will never be changed forever. That makes bitcoin is limited even if it has flexibility which could be torn apart to suit the money but by the time, because of that the price will always increase.

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May 04, 2017, 01:32:37 PM
 #1404

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.

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May 04, 2017, 01:41:57 PM
 #1405

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.
That is the mainstay of bitcoin. With such a service would be easy to attract a lot of people doing transactions with bitcoin. Transaction fee was adjusted to the amount of bitcoin that we send. So when we send a small amount of funds then the fee is also very small.

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May 04, 2017, 02:05:09 PM
 #1406

Its simple. 1200$ which I have in my bank from 2-3 months is like 1250$ now and 1 BTC which I had in my wallet 2-3 months ago which was 1200$ now it is 1500$, I guess you know where am going with this. BTC is savings, investment as well as money.



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May 04, 2017, 02:25:32 PM
 #1407

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.
That is the mainstay of bitcoin. With such a service would be easy to attract a lot of people doing transactions with bitcoin. Transaction fee was adjusted to the amount of bitcoin that we send. So when we send a small amount of funds then the fee is also very small.
Transaction fees are not longer that low.
Compared to other cryptocurrencies standard fee of bitcoin tx is horrendous, for now it is around 50k satoshi which translate to $0.70
Many traditional banks and online payment processors have lower fees already. PayPal has zero fee when you send money to friends and family within same country.
Bitcoin might be better only when you are transferring money abroad/globally and you send thousands/millions of dollar worth BTC.
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May 04, 2017, 02:30:24 PM
 #1408

The only difference that i can see on bitcoin versus the real money is being physical and virtual. Bitcoin is only digital money and the real money is physical which we are currently using right now. Another difference that i can see is in supply where bitcoin has a limited supply while real money has an unlimited.

Exactly, one more factor you missed when it comes to value bitcoin has the highest value when compared with real money. So many people bothering about whether bitcoin will stay for long to make most of it. Real money is being and act like crap many people are creating fake currency and whereas with bitcoin it is not possible.
Some say bitcoin is like gold 2.0, it's a digital currency, but really precious, its value significantly increasing recently and it proves that statement, whereas real money always is made every day and thus make the deflation towards the paper money and bitcoin still stay on its limited amount and will never be changed forever. That makes bitcoin is limited even if it has flexibility which could be torn apart to suit the money but by the time, because of that the price will always increase.
But even though real money is always made every day, their exchange rate will always be the same. Yes unless you want to travel abroad then that's where you know the rise or fall of the currency of your country. While the bitcoin price will always change, I think that's the difference in bitcoin with the real currency or something else and that's too makes me think both are unequal.

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May 04, 2017, 02:36:13 PM
 #1409

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.

I dont think that bitcoin has a cheaper transaction fee since the miner fee is high and small transactions are no longer fit to be made due to high miner fees. But if you are sending huge amount of bitcoins the miner fee is small compared to that of banks. Bitcoin unlike sending money is more efficient and fast, it is done in simple ways and has no complicated processes to have a successful transaction.

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May 04, 2017, 02:42:04 PM
 #1410

Its simple. 1200$ which I have in my bank from 2-3 months is like 1250$ now and 1 BTC which I had in my wallet 2-3 months ago which was 1200$ now it is 1500$, I guess you know where am going with this. BTC is savings, investment as well as money.
I like it. It's now difference with only set physical currency and digital currency rest of both are worth of long term investment. So far both of the benefits of saving thought we had knowledge real money have an exact value while Bitcoin does not maintain the value in the market.
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May 04, 2017, 02:58:07 PM
 #1411

Its simple. 1200$ which I have in my bank from 2-3 months is like 1250$ now and 1 BTC which I had in my wallet 2-3 months ago which was 1200$ now it is 1500$, I guess you know where am going with this. BTC is savings, investment as well as money.
I like it. It's now difference with only set physical currency and digital currency rest of both are worth of long term investment. So far both of the benefits of saving thought we had knowledge real money have an exact value while Bitcoin does not maintain the value in the market.

Value's stability and ways of using it maybe, in bitcoin we can do transactions thru our wallets only since it is not known yet by business establishments while real money does provide anything with our hands alone or with banks help etc.

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May 04, 2017, 03:21:58 PM
 #1412

The real Money is melting against the inflation, yet bitcoin resists against the inflation and goes up!


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panganib999
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May 04, 2017, 03:50:59 PM
 #1413

Both are currencies. Bitcoin is a digital currency and other local currencies we are using is normal currency with which we can purchase or do anything we need. As bitcoins is a digital currency, we can only shop or do anything only online. We can shop around and do more things online. But with other local currencies, we can do more / lot where we live.
If we are going to make comparison between bitcoin and real money it is good to start on describing the similarities of one another. You actually right both is a currency which have a specific value. The difference are bitcoin is a crypto-currency which its transaction needs internet to be done. Meaning it is a web base currency that allows transaction with a help of a wallet. Unlike real money or fiat it is tangible where you can hold it and manage it with out using of internet because it is tangible. In the case of value and price, bitcoin is more likely to change its value following the law of price and demand.


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sikke
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May 04, 2017, 04:15:15 PM
 #1414

I think thay we might have differences between bitcoin and money, butin my opinion we can call btc as the same thing.
After all, gold may also be called as a money. It was obviously used for that purpose back some time ago, in form of a gold coins, which were valuable and respected everywhere.

The same thing might be about bitcoin, in fact it is a totally digital asset, but still if the population of many different countries will accept BTC as a payment option in most of the stores, it may be called also as a money,at least that is what I think right now.

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May 04, 2017, 04:39:37 PM
 #1415

I don't think there is a lot of difference between bitcoin and real money because bitcoin is just volatile to its price and the real money is just like stable and have a fixed face value. We don't need to compare them because they are both kind of money.

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MoneyIsDebt
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May 04, 2017, 05:18:35 PM
 #1416

Cheaper Transaction Fee. Transactions in  do not cost a fortune,  can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.
That is the mainstay of . With such a service would be easy to attract a lot of people doing transactions with . Transaction fee was adjusted to the amount of  that we send. So when we send a small amount of funds then the fee is also very small.
it really depends upon the amount you are sending or receiving but the main purpose of it which attract a lot of customers is its trading purpose most of the people used it for trading and which is the main difference between it and fait money.

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May 04, 2017, 05:25:56 PM
 #1417

First of all bitcoin is anonymous and cash not, when you want to cash out your bitcoin you have to pay some fee to do that, that's not happening with real money, and also you can use your bitcoin where you are but you'll have exchange your money with the currency there is where you are.
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May 04, 2017, 07:15:02 PM
 #1418

Well the difference is bitcoin is an virtual currency or Internet money that is controlled by all the users,
using this virtual money.

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Meuh6879
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May 04, 2017, 07:20:12 PM
 #1419

real money : generate 200 billions of shit every month.




bitcoin : consensus
















In Bitcoin network, people control money.
not the gov, not the corporate, not the rotschild, not the central bank ... only people.

learn more : https://bitcointalk.org/index.php?topic=1820098.0
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May 04, 2017, 11:06:37 PM
 #1420

the difference is pretty simple, the people control bitcoin and governments and banks can't do anything to stop it, yeah many regulations can affect it but because is p2p is very hard to control everything.
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