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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
deisik
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November 26, 2016, 08:18:06 PM
 #341

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?

Me i've discovered bitcoin few year's ago where i start earning from faucets and giveaways from websites then learn on how to invest small amount of bitcoin. Till then i learn on how the trade works the difference between bitcoin and real money is in bitcoin you can use this currency to earn or to invest to earn money but you cannot use bitcoin as physical money not real money you can exchange your bitcoin into fiat money and then use that to buy things

There are many differences between real money and bitcoins, first you cannot hold bitcoins physically and buy it on a simple store while money can, bitcoins are digital, fast transactions, hasa limit where to spend once it was still not converted on fiat, you need to excmhangd it first befire you can use it on store. While real money has no limitations, you csn use it and pay instantly your money whenever store you go.

In fact, you can hold bitcoins in your hands too:



Other than that, fiat money is also mainly digital nowadays, and the way it is processed and stored doesn't conceptually differ much from how Bitcoin is processed and stored. In this aspect, all electronic monies are pretty much alike. Fiat transactions can also be virtually instant (a few seconds), so there is not much difference between Bitcoin and fiat, either...

And with Bitcoin payment cards, you can use Bitcoin in essentially the same way as your regular money

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November 26, 2016, 08:37:56 PM
 #342

there is good example of bitcoin and real money we can use bitcoin for online shopping for online website who sell their product for online and real money we can be use for local shopping in local shops and real money have physical shape.

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November 26, 2016, 08:45:04 PM
 #343

The real money has value that can be influenced by a nationality, bitcoin value is influenced by more than one nationality. Bitcoin anonymity protects your exchange for any good or investment while most real money can be easily traced. bitcoin is a virtual portable money that pose a level of secure wealth while real money availability makes you vulnerable to theft and insecurity.
If you refer to the possibility of paper money suffering inflation, by intervention of governments and central authorities, in fact this is an aspect present in fiat currency that, in Bitcoin, is very different. Since the network is decentralized, the coins can not be issued at a rate defined by banks or governments.
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November 26, 2016, 10:12:57 PM
 #344

The real money has value that can be influenced by a nationality, bitcoin value is influenced by more than one nationality. Bitcoin anonymity protects your exchange for any good or investment while most real money can be easily traced. bitcoin is a virtual portable money that pose a level of secure wealth while real money availability makes you vulnerable to theft and insecurity.
If you refer to the possibility of paper money suffering inflation, by intervention of governments and central authorities, in fact this is an aspect present in fiat currency that, in Bitcoin, is very different. Since the network is decentralized, the coins can not be issued at a rate defined by banks or governments.

Absolutely, this is the biggest problem with government regulated currency....especially in the United States with it's fractional reserve banking system.  Every dollar we put into the bank adds more debt into the system....that would be fine if the person putting the money into the bank's trust benefited from the practice but they don't....it actually devalues their dollar.

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November 27, 2016, 04:16:23 AM
 #345

One is anonymous and one can be tracked

YOU PICK WHICH ONE IM TALKIN ABOUT BABY
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November 27, 2016, 05:45:53 AM
 #346

Bitcoin has bitcoin wallets, real money have banks. Bitcoin has smaller fees compared to real money. It is easier to send and receive using bitcoin than real money. A single bitcoin costs big amount in real money. Bitcoin has anonymous transactions which makes the user anonymous too prevemting some threats in his life if he have some huge amount pf bitcoins.
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November 27, 2016, 06:03:59 AM
 #347

Bitcoin can be both investment and currency while real money is only money which is subject to inflation as the world roll.

Therefore, fiat holders are slowly moving their money to bitcoin to gain profit and to take advantage of the opportunity.

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November 27, 2016, 06:13:32 AM
 #348

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?

bitcoin huge price increase , if you saving bitcoin you will get profit more when you save dolars is likely to inflation


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November 27, 2016, 06:21:45 AM
 #349

Bitcoin is definitely faster than real money. And Bitcoin can also be sent oversea within a blink of an eye. Furthermore, Bitcoin users can never be followed by anyone. It is impossible to know who relate to that bitcoin address unless the owner told you

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November 27, 2016, 11:08:06 AM
 #350

There are so many differences between Bitcoin and traditional Fiat currency. let me point out few major differences for you.

Fiat currency is a government backed up where as Bitcoin is not backed up by any Central authority.

Fiat currency value is determined by gold in hand where as Bitcoins value is determined by its market capitalisation. If we see more money coming in to Bitcoin the price will increase but no such thing will happen to fiat currency.

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November 27, 2016, 03:24:06 PM
 #351

The real money has value that can be influenced by a nationality, bitcoin value is influenced by more than one nationality. Bitcoin anonymity protects your exchange for any good or investment while most real money can be easily traced. bitcoin is a virtual portable money that pose a level of secure wealth while real money availability makes you vulnerable to theft and insecurity.
If you refer to the possibility of paper money suffering inflation, by intervention of governments and central authorities, in fact this is an aspect present in fiat currency that, in Bitcoin, is very different. Since the network is decentralized, the coins can not be issued at a rate defined by banks or governments.

Absolutely, this is the biggest problem with government regulated currency....especially in the United States with it's fractional reserve banking system.  Every dollar we put into the bank adds more debt into the system....that would be fine if the person putting the money into the bank's trust benefited from the practice but they don't....it actually devalues their dollar.

I've seen that in many economics textbooks, namely, that banks give out loans from the money they have attracted to deposits first. The harsh truth is even harsher than that. In fact, they don't need our money to create more debt since they can create money virtually out of nothing. The debt creating capacity of banks is only limited by the credit side, i.e. how much money people are willing to borrow. There are no such limits from the deposit side altogether...

Fractional reserve banking is a big pile of lies itself

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November 27, 2016, 03:51:22 PM
 #352

Bitcoin is definitely faster than real money. And Bitcoin can also be sent oversea within a blink of an eye. Furthermore, Bitcoin users can never be followed by anyone. It is impossible to know who relate to that bitcoin address unless the owner told you
What do you mean about faster than real money?Honestly this days i am experiencing delay transaction.. unlike before that we can say that the transaction is fast but now we are relaying in the transaction size and we should pay the exact amount for exact transaction size in order to be high priority even you are high priority i am still experience for delay it takes an hour sometimes but if you are paying a large amount of fee like 50k sat you transaction is fast  if you transaction size is below 500kb..
This is just what i experience right now unlike before that you can get your bitcoin in a minute..
Right now it is more faster transaction to use paypal than bitcoin but it hassle to use unlike bitcoin that you do not need to verified to use the wallet. .

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November 27, 2016, 06:04:32 PM
 #353

Bitcoin is definitely faster than real money. And Bitcoin can also be sent oversea within a blink of an eye. Furthermore, Bitcoin users can never be followed by anyone. It is impossible to know who relate to that bitcoin address unless the owner told you
What do you mean about faster than real money?Honestly this days i am experiencing delay transaction.. unlike before that we can say that the transaction is fast but now we are relaying in the transaction size and we should pay the exact amount for exact transaction size in order to be high priority even you are high priority i am still experience for delay it takes an hour sometimes but if you are paying a large amount of fee like 50k sat you transaction is fast  if you transaction size is below 500kb

The poster you replied to most certainly referred to wire transfers

Such transfers are usually taking a few working days (so weekends are basically lost), though it all depends on the banks which accounts you transfer the money between. I've been successful in sending money from an account in one bank in the morning, receiving it in the afternoon in the other bank, and then managed to send the money back to the first bank to receive it in the evening there. Don't ask me why I had been doing that, but it worked, took only one day, and had nothing to do with money laundering (just in case)

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November 27, 2016, 08:05:58 PM
 #354

Bitcoin is definitely faster than real money. And Bitcoin can also be sent oversea within a blink of an eye. Furthermore, Bitcoin users can never be followed by anyone. It is impossible to know who relate to that bitcoin address unless the owner told you
What do you mean about faster than real money?Honestly this days i am experiencing delay transaction.. unlike before that we can say that the transaction is fast but now we are relaying in the transaction size and we should pay the exact amount for exact transaction size in order to be high priority even you are high priority i am still experience for delay it takes an hour sometimes but if you are paying a large amount of fee like 50k sat you transaction is fast  if you transaction size is below 500kb

The poster you replied to most certainly referred to wire transfers

Such transfers are usually taking a few working days (so weekends are basically lost), though it all depends on the banks which accounts you transfer the money between. I've been successful in sending money from an account in one bank in the morning, receiving it in the afternoon in the other bank, and then managed to send the money back to the first bank to receive it in the evening there. Don't ask me why I had been doing that, but it worked, took only one day, and had nothing to do with money laundering (just in case)

If it's just your local bank then it would not take banking days for it to be processed. As for my experience in overseas wire transfers, it took me a good 3 banking days (actually, 5 regular days since I did the transfer on a Friday, from my country to Canada) before they actually receive the money. The beauty about bitcoin is that you don't need to wait that long for you to get the money; you only need 10 minutes to a few hours for you to send or receive money anywhere on the globe. Also, no additional fees. Normal fees for wire transfers are about $10-$25 based on my experience.

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November 27, 2016, 08:43:58 PM
 #355

What is the difference between Bitcoin and real currency? So simple. Bitcoin control Once you have in your wallet, and the real money but you still controls the state all of your accounts.
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November 27, 2016, 08:48:25 PM
 #356

Bitcoin is a new technology that has unique characteristics. For example, bitcoin can be sent quickly and cheaply anywhere in the world. No other currency can do that. It can also be used as a method of payment or a store of value. All these things can be done without relying on a middleman to handle the transaction.
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November 27, 2016, 08:52:06 PM
 #357

Bitcoin is definitely faster than real money. And Bitcoin can also be sent oversea within a blink of an eye. Furthermore, Bitcoin users can never be followed by anyone. It is impossible to know who relate to that bitcoin address unless the owner told you
What do you mean about faster than real money?Honestly this days i am experiencing delay transaction.. unlike before that we can say that the transaction is fast but now we are relaying in the transaction size and we should pay the exact amount for exact transaction size in order to be high priority even you are high priority i am still experience for delay it takes an hour sometimes but if you are paying a large amount of fee like 50k sat you transaction is fast  if you transaction size is below 500kb

The poster you replied to most certainly referred to wire transfers

Such transfers are usually taking a few working days (so weekends are basically lost), though it all depends on the banks which accounts you transfer the money between. I've been successful in sending money from an account in one bank in the morning, receiving it in the afternoon in the other bank, and then managed to send the money back to the first bank to receive it in the evening there. Don't ask me why I had been doing that, but it worked, took only one day, and had nothing to do with money laundering (just in case)

If it's just your local bank then it would not take banking days for it to be processed. As for my experience in overseas wire transfers, it took me a good 3 banking days (actually, 5 regular days since I did the transfer on a Friday, from my country to Canada) before they actually receive the money. The beauty about bitcoin is that you don't need to wait that long for you to get the money; you only need 10 minutes to a few hours for you to send or receive money anywhere on the globe. Also, no additional fees. Normal fees for wire transfers are about $10-$25 based on my experience.
$10-$25 compare to the fee for transaction in bitcoin the highest i transact is $100 in bitcoins and pay for $1+ fee this is huge different compare the fees in wire transfer and year it takes few days before you receive it. unlike in bitcoin with a day you can receive it but it depends in your fee the more you paying high fee the more you can possible to transact fast..
If you are leaving in india and i am living here in philippines i can send bitcoin to your zebpay account and you can withdraw it instantly.. this is the good advantage of using bitcoin.. than our fiat.

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November 27, 2016, 09:00:39 PM
 #358

Across the development cycles of BTC, there tends to be a gap reducing in size for these markets to function quite similar because of broadened horizons.

With the international style Bitcoin alike other cryptocurrencies companies combined, the reasons behind using this is to join a global movement to reduce financial disparity and conversion fees transferring money abroad + between countries. In all honesty why use both a standard rate currency as well as reserving USD to subject priority of living in booming third world nations.

It's always good to own a little of both virtual + tangible assets.

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November 27, 2016, 09:03:07 PM
 #359

there is good example of bitcoin and real money we can use bitcoin for online shopping for online website who sell their product for online and real money we can be use for local shopping in local shops and real money have physical shape.
yes actually the number of bitcoin users are very low, so we can expect in future when the  number of bitcoin users will increase then bitcoin will certainly give us some useful facilities, and we will be able to use bitcoin as fiat in local market for buying and selling good and for so many other activities.
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November 27, 2016, 10:04:03 PM
 #360

The difference of Bitcoin and real money is that. Bitcoin is a Digital Currency meaning it doesn't have physical shape. Real money has. Bitcoin can be used online to transfer money, pay bills and can be used in some of the companies that accept bitcoins. Real money is accepted by all people because it is established many years ago. You can buy stuffs in the mall, Department stores and other boutiques using this money or what they call fiat.

But all in all, I'd recommend using bitcoin as it is more convenient than real money although not all of the store accept bitcoin but it will soon.
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