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Author Topic: Difference between Bitcoin and real money?  (Read 110669 times)
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May 20, 2017, 07:10:08 AM
 #1501

As already said Bitcoin is digital. In our world things changes rapidly. Even now many large companies(Amazon, Tesla Motors, Zappos) allow you to pay with Bitcoin. It seems to me that BTC might be widely spread as an online payment currency very soon.
It is happening right now, a lot of companies now are accepting bitcoin as a payment and other countries are also doing that and they are implementing bitcoin to their country because they see bitcoin as a great currency and there is a lot of potential in bitcoin because of its fast growing price and the proof or evidence for that is the close to 2000 USD mark price now.

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May 20, 2017, 07:50:34 AM
 #1502

Was listening to the bitcoin podcast and they suggested that with the crazy transaction fees that Bitcoin will soon only be useful for very large transactions where $3 TX fee makes sense and is still a savings.

OR it will be a clearance house for bundled up payments so that it is still cost effective -
Actually this makes me sad since bitcoin will be only for the rich.

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May 20, 2017, 04:07:57 PM
 #1503

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claiming something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth itself are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure

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May 20, 2017, 06:30:28 PM
 #1504

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claimed something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure
tome i think that main and the only difference is that bitcoin is a digital, crypto currency, where as really money is physical currency, we mostly use bitcoin for online shopping etc, while using paper money for buying physical items and stuff.
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May 20, 2017, 11:07:46 PM
 #1505

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claimed something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure
tome i think that main and the only difference is that bitcoin is a digital, crypto currency, where as really money is physical currency, we mostly use bitcoin for online shopping etc, while using paper money for buying physical items and stuff.
Mass use of the store's bitcoins So far, nothing will come of it. Must understand what exactly the question will be about the taxation of businessmen who will take for the use of Bitcoin. Perhaps the roominess is not so scary as in fact I think that to use Bitcoin. How real it is not and once again or is it altogether impossible

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May 20, 2017, 11:37:29 PM
 #1506

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claimed something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure
tome i think that main and the only difference is that bitcoin is a digital, crypto currency, where as really money is physical currency, we mostly use bitcoin for online shopping etc, while using paper money for buying physical items and stuff.

Today, bitcoin is really popular that many people are getting interested in it, and that is the reason there are more stores now that accept bitcoin. You scan a QR code to pay for what you are buying. Especially on the countries that accepts bitcoin, maybe like Japan. I think my favorite difference is the anonymity of bitcoin and the decentralization.



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May 21, 2017, 03:04:41 AM
 #1507

Bitcoin:
Spending is not easy(need some time)
Tracing not possible

Real money:
Spending is easy
Tracing possible
I think the future bitcoin will also be the same as real money as usual. Will be easy to use for spending. This is just about the timing of the adoption of merchants

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May 21, 2017, 03:38:17 AM
 #1508

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claimed something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure
tome i think that main and the only difference is that bitcoin is a digital, crypto currency, where as really money is physical currency, we mostly use bitcoin for online shopping etc, while using paper money for buying physical items and stuff.

Well first let me clear Bitcoin is a real money too. You can buy things with bitcoins alone. The OP question should be difference between Bitcoin and paper currency or Fiat Currency, for which the answer is clear .
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May 21, 2017, 04:00:40 AM
 #1509

Only difference i can think of right now is that bitcoin cannot be controlled by government.

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May 21, 2017, 04:43:46 AM
 #1510

"real money" is less real than BTC.

"real money" can be rigged, by devaluation, un just laws, legislation, fraud, bad tax regimes, seizure, haircuts, faces capital controls.

BTC cannot.

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May 21, 2017, 05:22:37 AM
 #1511

"real money" is less real than BTC.

"real money" can be rigged, by devaluation, un just laws, legislation, fraud, bad tax regimes, seizure, haircuts, faces capital controls.

BTC cannot.
By definition of the majority of does not know about bitcoin they will not consider it as money, only us who fully adopted the system will understand how valuable it is, so for me I will consider bitcoin as a real money as it gives me an opportunity to grow my funds by just simply holding it.
Real money when stored in the bank will just earn a little interest or sometimes you are the one who will pay the bank if you live in a country that does not give interest, converting it in bitcoin is the best way of treating your savings in fiat.

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May 21, 2017, 08:57:11 AM
 #1512

Only difference i can think of right now is that bitcoin cannot be controlled by government.
I agree with you, that is the biggest difference of bitcoin and the real money because bitcoin is decentralized while the real money is centralized so it means that bitcoin cannot be controlled or be dictated by the government or any kind of organization because they can't do that because satoshi nakamoto wants freedom to its users.

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May 21, 2017, 09:06:22 AM
 #1513

Difference between bitcoin and real money for me is confirmation process as its today. Real money doesnt have this. However, bitcoin always superior and we can make choice to invest.
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May 22, 2017, 09:22:27 AM
 #1514

Only difference i can think of right now is that bitcoin cannot be controlled by government.
I agree with you, that is the biggest difference of bitcoin and the real money because bitcoin is decentralized while the real money is centralized so it means that bitcoin cannot be controlled or be dictated by the government or any kind of organization because they can't do that because satoshi nakamoto wants freedom to its users.

True and that is beauty of it. Government trying to take this but with no effect some even creating there own blockchain and currencies but whit no effect so far. Dont know what they wanted with this but fact remain bitcoin will survive and suppress any currency in the world. Are we gonna be live to see it that is something different but fact remain government if they have low cash they print it bitcoin you have to mine.



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May 22, 2017, 12:45:24 PM
 #1515

The real difference between Bitcoin and real money is that real money is known and listed from the IMF. Bitcoin is not real money, people like to treat it as the next Currency of the world though majority of them don’t know why Bitcoin would be placed within that rank if you’d ask them.
Bitcoin is not secure, Bitcoin address could get hacked if the right people know what to do. It’s only a matter of time till a bunch of people start waking up to that fact.

This is cryptography. People knows what to do to crack the private keys using the addresses. But, can they possibly do it? You can save all the addresses together with their private keys in a text file but even if you make a hard drive as big as our planet, the addresses and the private keys won't fit on that file. Remember that the essence of bitcoin is that it's impossible to crack these stuffs. These are all just Mathematical stuffs and people already know it. That's why they made it impossible to crack. It will take millions of years and an unbelievable amount of storage

We may never know until it is too late

Many distinguished people had been claimed something as completely impossible until they were miserably proven wrong ("heavier than air flying machines are impossible"). In this manner, just because Bitcoin is "cryptography", it doesn't mean that it is totally unbreakable and cannot be cracked. The references to a hard drive as big as the Earth are really lame since they are quite in line with many similar claims made in the past like you would need a million horses to drag a freight train or future cities would be filled up with horse manure
tome i think that main and the only difference is that bitcoin is a digital, crypto currency, where as really money is physical currency, we mostly use bitcoin for online shopping etc, while using paper money for buying physical items and stuff.

Well first let me clear Bitcoin is a real money too. You can buy things with bitcoins alone. The OP question should be difference between Bitcoin and paper currency or Fiat Currency, for which the answer is clear .

Yes, Rightly said. For me Bitcoin has a lot more characteristics which local Fiat do not have. It eliminates the need for every country to have a separate country and whole world can be operated on a single currency which makes it zero transfer fee between the movement of currencies between them. This is just one characteristic of bitcoin and there are a lot many of these.

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naughty1
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May 22, 2017, 12:48:22 PM
 #1516

Surprisingly, when a newbie's article gets the attention of everyone, it is discussed continually and there is nothing that can stop it, however, the strange thing is that he's not even online on this forum, but his posts are always of interest.

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Worldcore
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peter23
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May 22, 2017, 12:55:28 PM
 #1517

Bitcoin and real money have so many difference Bitcoin can increase rapidly in just overnight while real money? it takes many years just to increase a cent. bitcoin can earn people without paying taxes in government Smiley
Wandika
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May 22, 2017, 01:28:31 PM
 #1518

Bitcoin and real money have so many difference Bitcoin can increase rapidly in just overnight while real money? it takes many years just to increase a cent. bitcoin can earn people without paying taxes in government Smiley

You know what is the reason why the price of the real money can't fluctuate huge amount like BTC? Real money is centralized and government controls the volume of the money created every day while bitcoin is decentralized and no one can manipulate it so it's price was very volatile since no law are made to control it.

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Caelanpelley
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May 22, 2017, 02:02:19 PM
 #1519

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?

So that you can spend the bitcoins when you want to buy things that can be purchased with bitcoins?

Or, if you believe in the long term potential of Bitcoin, then so that you can increase your purchase power as the bitcoins are valued more?

Or, so that you can secure your money with a password and create a backup of your money?

Or, so that you can protect your money from the erosion of inflation caused by the excessive printing of more currency?

If I want to buy stocks or invest money I can easily invest with real $.

Bitcoin is real money.

Why would I convert my $ to bitcoins?

You already asked that.  I already answered it.


If I want to gamble , I can simply gamble on websites that require $ as currency,

If you want to gamble, you can simply gamble on websites that require bitcoins as a currency.  Why would you convert your bitcoins to $?

why would I convert it to bitcoins?

You've now asked that question 3 times.  I've answered it once.  Once is enough.

What's the difference between Bitcoins and dolars?

Here are just a few differences:
  • Bitcoins are an electronic form of money.  Dollars are a physical form of money made of linen.
  • Bitcoins are limited in quantity.  The Federal Reserve can create as many dollars as they want.
  • You can create a backup of your access to bitcoins.  You can't create a backup of your dollars.
  • You can secure your access to your bitcoins with a password and cryptography.  You can't encrypt your dollars.
  • It is much easier to store a large amount of bitcoins.  It can be difficult to securely store a large amount of dollars.
  • You can send bitcoins over the internet.  It is difficult and/or expensive to send dollars over significant distances.

What does bitcoin bring to the table that real $ don't, less taxes, more income?

Bitcoin IS real money.  You've now asked the same question 4 times.  I think you might have a problem with repetition.
This is problem is a lot of interest and questions. I think that each person will have different thoughts about the value of this coin and its potential in the future.however, the bitcoin market is always fluctuating, but if you invest properly then you will get a large source of revenue. Value for money is very high, so the transfer of money into bitcoin will be beneficial to you later.

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PhilPrime
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May 22, 2017, 02:04:36 PM
 #1520

Bitcoin and real money have so many difference Bitcoin can increase rapidly in just overnight while real money? it takes many years just to increase a cent. bitcoin can earn people without paying taxes in government Smiley

Same with putting it on a bank for a year see that it not increase the way it can increasr when put in bitcoin. Now having money in real bsnk seem inappropriate to do now.

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