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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
deisik
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November 19, 2016, 06:14:04 PM
 #301

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 save bitcoin you can get a profit , bitcoin increase fast
but if you save your $ or real money they just to inflation of price

The thing you just stated is not an advantage of bitcoin and is also not so true.
Bitcoin is not "Increasing fast", it can also decrease fast as it increase fast and you can end up losing a lot of money, it all depends when you bought it.
When you hold real world fiat, you can be sure that you will always have a value as you have your government who backs your funds.

This largely depends on which fiat you hold and who issues it (i.e. specific government behind the currency). If we are talking about the Swiss franc or the American dollar, you can be pretty sure that they won't get devalued overnight. But if we take the European currency, the Euro, you cannot be absolutely sure that the government behind it won't disappear in half a year following the collapse and disintegration of what is today known as the European Union, and the Euro itself won't turn into useless and worthless sheets of paper...



I don't think that Zimbabwean dollars have any value even if they have been backed by a government

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November 19, 2016, 07:28:04 PM
 #302

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 save bitcoin you can get a profit , bitcoin increase fast
but if you save your $ or real money they just to inflation of price
yes that is a fact that saving money in banks or in dollar is just the wastage of money and it cannot give your profit, instead the value of your money is decreasing from time to time. therefore investment in bitcoin is more better that saving in USD or your own money in banks as in banks if the price of bitcoin increase the the value of your money will also increase.


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November 23, 2016, 04:12:56 PM
 #303

The difference, I believe everyone know about the fiat or real currency, Fiat have no need to explanation. But about bitcoin, So bitcoin is a crypto currency, and if we use the word of online currency than it is better, Otherwise the difference between bitcoin and real money, So many and many differences are here with each other, but in short, both are currency and both same way to get us facilitate, but real currency have no problem to use it, and the bitcoin, only a few countries and few people know about it.

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November 23, 2016, 04:34:18 PM
 #304

I think Bitcoin is the real money, especially if you consider the fact that, since decades, dollar is not backed by gold anymore.
But if you ask me the difference between Bitcoin and paper money, I would say that Bitcoin is mainly distinguished by the fact that it is not issued by central authorities, preventing the currency from inflating and giving greater control to the users.

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November 23, 2016, 04:38:53 PM
 #305

The difference, I believe everyone know about the fiat or real currency, Fiat have no need to explanation. But about bitcoin, So bitcoin is a crypto currency, and if we use the word of online currency than it is better, Otherwise the difference between bitcoin and real money, So many and many differences are here with each other, but in short, both are currency and both same way to get us facilitate, but real currency have no problem to use it, and the bitcoin, only a few countries and few people know about it.

I think that you are right and the fact is that the bitcoin is fully digital so that is already a big difference of course.
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November 23, 2016, 05:03:11 PM
 #306

Bitcoin is a crypto-currency and you can only find it using the internet. Bitcoin is a virtual money which gives you higher level of security and faster transaction and one of my favorite is bitcoin gives or provide cheaper fees on transferring money unlike real money which can give you high fees and also possible to be slower in terms of sending or receiving money from one people to another. One of the advantages of real money is, It is stable because the government support the fiat and that is the primary currency in a specific country but who knows if bitcoin can change our world and most of the countries will accept and use bitcoin as their legit secondary currency aside from their fiat.

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November 23, 2016, 05:11:31 PM
 #307

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 save bitcoin you can get a profit , bitcoin increase fast
but if you save your $ or real money they just to inflation of price

The thing you just stated is not an advantage of bitcoin and is also not so true.
Bitcoin is not "Increasing fast", it can also decrease fast as it increase fast and you can end up losing a lot of money, it all depends when you bought it.
When you hold real world fiat, you can be sure that you will always have a value as you have your government who backs your funds.
 

In the sense of security of money you are right that fiat can be better as you will always be sure that the money you kept will be the same forever, but in the sense of profit bitcoin can be better as the money you keep will go higher in the long run, though bitcoins drops down as well sometimes but at the end it recovers its price again.
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November 23, 2016, 08:15:47 PM
 #308

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

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November 24, 2016, 05:30:53 AM
 #309

I believe I am apt for answering this question since my country faced demonetization recently. In the rush for exchanging currencies, a lot of time is wasted. In this hour, I found it much useful to use BTC as a currency for exchange rather than wasting time standing near banks for hours to fetch the new currency notes. It is true, hard cash might sound safe but it is not. Those who had heaps of cash had to pay 30% tax for not depositing to the banks. Now you might get your answer.

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November 24, 2016, 05:41:47 AM
 #310

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?


diferennce bitcoin and USD real money
bitcoin until now only use to online or digital curency, use the real life still very dificult
and USD real money can use all the world and real life
but USD and Bitcoin, still good bitcoin if use investment

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November 24, 2016, 06:23:13 AM
 #311

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

Yes that are some of the difference of bitcoin and real money. But to make it more simply. Bitcoin is digital and a decentralized crypto currency which means government power is not able to control the fluctuations, value and anything about bitcoin, unlike real money is being centralized and being controlled by the government.

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November 24, 2016, 06:31:47 AM
 #312

I believe I am apt for answering this question since my country faced demonetization recently. In the rush for exchanging currencies, a lot of time is wasted. In this hour, I found it much useful to use BTC as a currency for exchange rather than wasting time standing near banks for hours to fetch the new currency notes. It is true, hard cash might sound safe but it is not. Those who had heaps of cash had to pay 30% tax for not depositing to the banks. Now you might get your answer.

got the point bitcoin is better for any transaction low fee considering real money transfers
this will be hard to do in any day but it is start for upcoming users to know some differences between real money and bitcoin

also "money" is a term used by economists for something that does three things

1. store of value
2. medium of exchange
3. unit of account

BitCoin meets all three conditions -

1. You can acquire some and keep them, and they'll still be worth what they used to be (in the same way that a dollar is still worth a dollar, not that it'll still buy what a dollar used to.) That is to say, it's a store of value.
2. You can buy things with them. Not everyone will accept them, but you're probably going to have better luck finding someone to sell you a laptop for BitCoins
3. You can price things in them, and they are fungible - that's to say that your BitCoin and my BitCoin are worth the same as each other.



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November 24, 2016, 02:23:41 PM
 #313

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

If this logic is to be followed to its ultimate conclusion, cash is not real money either, since you typically don't need to provide any information altogether in respect to your identity when you are buying something with it. I could say that most people would actually consider electronic money as not real money rather than cash itself. Apart from that, when you use Bitcoin you would still be providing personal information such as your wallet address, which could be potentially linked to your real identity...

Whether it is worth doing is another question, though

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November 24, 2016, 02:28:54 PM
 #314

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

Yes that are some of the difference of bitcoin and real money. But to make it more simply. Bitcoin is digital and a decentralized crypto currency which means government power is not able to control the fluctuations, value and anything about bitcoin, unlike real money is being centralized and being controlled by the government.
This is really the true difference of bitcoin and us dollars or any fiat currency. No one could able to control bitcoin unlike on fiat. As OP mentioned why he would tend to put his money into bitcoins then ill say that bitcoin has the big potential to earn your profits in the future because of its increasing price but still theres a risk though on lossing thats why you should ready on the possible circumtances that might happen.On gambling you could able to direct use bitcoin and you are good to go.

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November 24, 2016, 02:34:19 PM
 #315

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

Yes that are some of the difference of bitcoin and real money. But to make it more simply. Bitcoin is digital and a decentralized crypto currency which means government power is not able to control the fluctuations, value and anything about bitcoin, unlike real money is being centralized and being controlled by the government.
This is really the true difference of bitcoin and us dollars or any fiat currency. No one could able to control bitcoin unlike on fiat. As OP mentioned why he would tend to put his money into bitcoins then ill say that bitcoin has the big potential to earn your profits in the future because of its increasing price but still theres a risk though on lossing thats why you should ready on the possible circumtances that might happen.On gambling you could able to direct use bitcoin and you are good to go.

Problem with fiat if it is out currency it jusy stays still. That is why some people buy Euro, pounds etc.. for the purpose of getting a better profit when its price spikes or our own currency went down. Bitcoin did better than that. It is lined up with gold and oil or a combination of a currency and a commodity, perfect for investors.

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November 24, 2016, 02:43:26 PM
 #316

the difference between bitcoin and real money is that when you use bitcoin you don't have to enter any personal information like the real money bank accounts that when wanna buy anything of the internet they wanna know all about you, the bitcoin is a much secure way that way your money is more safer

Yes that are some of the difference of bitcoin and real money. But to make it more simply. Bitcoin is digital and a decentralized crypto currency which means government power is not able to control the fluctuations, value and anything about bitcoin, unlike real money is being centralized and being controlled by the government.

These centralized and decentralized and all will be get a end card when bitcoin spread all over the world and even to layman also. Then bitcoin would be most power money and powerful stock in this world. I hoping that day. It will occur soon.

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November 24, 2016, 03:33:40 PM
 #317

The only thing which gives strength to FIAT is the strength of the government who owns the FIAT.

Zimbabwe Dollars are weak as hell because their country is weak.

EURO is strong because Europe is strong. (which is getting weaker btw) Same goes for the USD.

Aaaaaand, guess what? It is also the case with bitcoin. You only replace "the government" with "the community".

And where does this power come from? It comes from our ability to think rationally. That's why the markets usually tell the truth as long as they are not manipulated. Even if they were, there will be corrections. It happens all the time:) It wouldn't be fun if the markets were %100 correct all time, how would i make money if they were? Cheesy
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November 24, 2016, 03:37:18 PM
 #318

I think the difference between bitcoin and real money is not far. Real money can follow the bitcoin system, and i hope the fee when send money arround the world is easy and very cheap for fees.

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November 24, 2016, 03:44:48 PM
 #319

I believe I am apt for answering this question since my country faced demonetization recently. In the rush for exchanging currencies, a lot of time is wasted. In this hour, I found it much useful to use BTC as a currency for exchange rather than wasting time standing near banks for hours to fetch the new currency notes. It is true, hard cash might sound safe but it is not. Those who had heaps of cash had to pay 30% tax for not depositing to the banks. Now you might get your answer.

So the basic thing for now is that bitcoin is more secure and anonymous which fiat is not, and that anonymity makes you pay no taxes at all no matter how much money you have in bitcoins, as long as an authority is not controlling it and no one has track on your balance, you don't need to be worried at all.
PhilPrime
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November 24, 2016, 03:45:17 PM
 #320

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 save bitcoin you can get a profit , bitcoin increase fast
but if you save your $ or real money they just to inflation of price
yes that is a fact that saving money in banks or in dollar is just the wastage of money and it cannot give your profit, instead the value of your money is decreasing from time to time. therefore investment in bitcoin is more better that saving in USD or your own money in banks as in banks if the price of bitcoin increase the the value of your money will also increase.

True. Paper money or cash is not a priority now of those who knew bitcoin. They will prefer having lots of btc in their wallet or invest it investment sites that make it a cash or put in banks.

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