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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
MMA
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December 01, 2016, 08:15:15 PM
 #401

They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.
but i do not think so, have less user is not the characteristic of bitcoin, to me the big difference is that bitcoin is decentralize currency while real currency is centralized currency, bitcoin is online crypto currency, while fiat is real paper money.

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December 02, 2016, 12:33:52 AM
 #402

real money, has been accepted by all the people of a country, and it is a medium of exchange that is set by the government. whereas, bitcoin is a cryptocurrency available on the internet, and has a high price, which is usually used as a means of transaction, investment, trading, and others, whose existence has not been accepted by all communities.

I wonder why everybody is still fixated about the price of Bitcoin.  Roll Eyes
Do you bother about the price of the dollar or the Euro? You just go ahead and use it. Do the same with Bitcoin as well. Receive Bitcoin for goods/services and pay bitcoin for goods/services that you receive.

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December 02, 2016, 06:00:59 AM
 #403

first of all i must mention the equality from bitcoin and real money is both are the currency, valuable and i could buy stuffs using them and i think the different from them is because bitcoin is cryptocurrency then you cannot storing in your pocket but real money is physical so you could carry it wherever you go

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December 02, 2016, 09:40:26 AM
 #404

They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.

Both are not exactly same because bitcoins also considered as an investment but money, not an investment. Bitcoin prices can go up and high quite faster compared any other currencies in the world. Both of them got advantages and disadvantages but I like both of them.

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December 02, 2016, 09:50:01 AM
 #405

first of all i must mention the equality from bitcoin and real money is both are the currency, valuable and i could buy stuffs using them and i think the different from them is because bitcoin is cryptocurrency then you cannot storing in your pocket but real money is physical so you could carry it wherever you go

You have your physical fiat money in physical wallet but it can stolen by anyone bitcoin is very secured medium it is not easily hackable by anyone. I would say bitcoin more safest money according to me. Only difference bitcoin is not known money all the people in the world but fiat everybody knows.

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December 02, 2016, 09:58:18 AM
 #406

first of all i must mention the equality from bitcoin and real money is both are the currency, valuable and i could buy stuffs using them and i think the different from them is because bitcoin is cryptocurrency then you cannot storing in your pocket but real money is physical so you could carry it wherever you go

The world is becoming a place where the digital aspect gets more and more important. I personally barely have physical money on me since I can either use my banking app in combination with my NFC enabled smartphone to pay for things, or with my NFC enabled bank card. If you compare that to a Bitcoin wallet on your phone containing your coins, then there is absolutely no difference. I think when we are 5 years away from now, that the number of people that still use physical money will be less than 10%. Especially when you consider that even in bazaars you can pay in digital form as they have NFC capable payment devices. I am talking about how things are developing in Europe, and not how thing are in third world countries.

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December 02, 2016, 10:38:55 AM
 #407

Money is what we all use in our daily expenses/needs, it's value is through its face value while bitcoin has no value but only exchange value, means it is just like an imaginary since it is just digital currency. But, if you have them both you can use them anytime and also they have same function like can buy goods, can pay for bills.
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December 02, 2016, 11:15:48 AM
 #408

I've been using bitcoin many years and I am now regretting it, why? because if I knew it from the very start then I am a multimillionaire now... Btc is like my bread and butter now..
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December 02, 2016, 12:12:48 PM
 #409

Investing your real money in bitcoin is not a bad idea, I assure you that because it is worth it. Converting your real money into bitcoin is the first step to multiply that amount of dollars that you have invested. Why?, because bitcoin's price is always fluctuating and these past months bitcoin's price is fluctuating between $730 to $753 which is a good thing compare to it's price in July to September I think because it is really low.

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December 02, 2016, 01:08:33 PM
 #410

I've been using bitcoin many years and I am now regretting it, why? because if I knew it from the very start then I am a multimillionaire now... Btc is like my bread and butter now..
Many people regret that they didn't join bitcoin earlier, but at that time no one predicted that coin like this can become famous and viral, but i think it is not too late to used and investing bitcoin now, the bitcoin journey is still long and we still can earn a lot of profit from bitcoin

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December 02, 2016, 01:09:59 PM
 #411

I've been using bitcoin many years and I am now regretting it, why? because if I knew it from the very start then I am a multimillionaire now... Btc is like my bread and butter now..
Many people regret that they didn't join bitcoin earlier, but at that time no one predicted that coin like this can become famous and viral, but i think it is not too late to used and investing bitcoin now, the bitcoin journey is still long and we still can earn a lot of profit from bitcoin

Like me, I imagine I would have been a multi-millionaire by now, does not matter, I still will be. But I am sure that some people that joined bitcoin early sold their btc right away and did not wait for it to rise, so even though they got it in early, they did not get rich of BTC.

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December 02, 2016, 01:16:50 PM
 #412

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December 02, 2016, 01:20:30 PM
 #413

They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.

I disagree. First, there are only a few countries where Bitcoin is illegal right now. Second, we all can use Bitcoin, but we can't use other currencies except for our national currency. The main difference between Bitcoin and "real money" is that Bitcoin is rising with time and those "real money" are falling in their purchasing ability.

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December 02, 2016, 01:26:17 PM
 #414

There are a lot of things said here already (probably almost everything) but I will still say my opinion about this. There are a lot of advantages by using bitcoin than real money but real money still also has advantages. From what I've read in an article that when real money is converted to a virtual currency and it doesn't come back out. That's the difference between digital currency and bitcoin. Bitcoin is exchangeable, it isn't just for a game or some points you need to have, it's a form of exchange of transactions also. Bitcoin has value because we say it has value, so it's really special to everyone in this community.

Bitcoin overall makes easier transactions.



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December 02, 2016, 01:32:34 PM
 #415

They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.

I disagree. First, there are only a few countries where Bitcoin is illegal right now. Second, we all can use Bitcoin, but we can't use other currencies except for our national currency. The main difference between Bitcoin and "real money" is that Bitcoin is rising with time and those "real money" are falling in their purchasing ability.
I totally agree with you. Bitcoin can not be weaker than real money as it is used worldwide and FIAT currencies are only accepted in local regions. And moreover, Bitcoin price keeps going sky-high while Fiat is slowly dropping.

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December 02, 2016, 01:41:04 PM
 #416

They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.

I disagree. First, there are only a few countries where Bitcoin is illegal right now. Second, we all can use Bitcoin, but we can't use other currencies except for our national currency. The main difference between Bitcoin and "real money" is that Bitcoin is rising with time and those "real money" are falling in their purchasing ability.
I totally agree with you. Bitcoin can not be weaker than real money as it is used worldwide and FIAT currencies are only accepted in local regions. And moreover, Bitcoin price keeps going sky-high while Fiat is slowly dropping.
Yes thats right, Thats why many people is using  bitcoins now. They cant just rely on their fiat. Many of the people using bitcoin ia they convert their fiat into bitcoin in order for them to gain profit. Bitcoin price is moving too fast if you compare it to local currencies

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December 02, 2016, 01:55:39 PM
 #417

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?



There is a big difference between Bitcoin & real money & that difference makes Bitcoin an important currency. i m giving u an example for that.
u r going to buy something from web & they r asking u for the money. U will pay for that also but that person or merchant will get that money in his account after the bank charge. Bank normally charges 1.5% to 2% for that transaction if it is in Dollars from both sides but if u r paying in Dollars & that merchant receives in other currency in his account he has to pay the charge & the difference of the currency. Like u pay in Dollars & that merchant sales in Euro or Pound. u have to pay conversation charge & even that merchant also has to pay the same.
But in Bitcoin there is no charge for that conversion Because both side the currency is same.
so neither u nor that merchant has to pay extra amount for that. I can say this because many times i have paid this conversation charges & it costs a lot to me. almost 10% of my pay goes to bank.
Now a days many companies & websites accept Bitcoin as currency for on line transactions & their main reason this only. No matter in which country u live or whatever is your currency & their conversion ratio or conversion charge. u have to just pay whatever amount they charge in Bitcoin & pay. That's all. Its as simple & easy as u do transaction with your local merchant or trader. Even nobody has to pay any big charge to the bank for the conversation real money to Bitcoin & Bitcoin to real money.
For me its more easy than it. even u can buy Bitcoins from your linked bank account from your mobile & same u can en cash also. U have to just give a try for the first time then u will enjoy it.
I think all of your questions I have answered.

Using bitcoin we can avoid bank charges, this is just one of the many advantages you get from using bitcoin. The most important on why I use bitcoin is because it can gain lot value in future as it is few in number compared to government backed currencies. Bitcoin is digital gold and it will keep appreciating in value.


I agree but we can't escape the third party processing charges when we convert our bitcoin to cash.   We all know that stores that accept bitcoin is few, especially in local markets, we can hardly find one.  So in order to take the profit and use it , we need to convert it back to currency.


They are actually all money but the big difference is Bitcoin the users are few while money we all use it. In the current situation only money is legal while bitcoin is not legal in some countries, so basically you can see that bitcoin is weaker compared to real money.
I disagree. First, there are only a few countries where Bitcoin is illegal right now. Second, we all can use Bitcoin, but we can't use other currencies except for our national currency. The main difference between Bitcoin and "real money" is that Bitcoin is rising with time and those "real money" are falling in their purchasing ability.

Even if few countries are banning bitcoin, you can see  that there are less than 10% of the population who is using bitcoin.  Check your neighborhood and asked them about bitcoin or check if they use it.  I bet only you or maybe a dozen more is using bitcoin.  Or should I say, real money is widely use while bitcoin, though used internationally, are just being used by minority.

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December 02, 2016, 02:03:28 PM
 #418

real money, has been accepted by all the people of a country, and it is a medium of exchange that is set by the government. whereas, bitcoin is a cryptocurrency available on the internet, and has a high price, which is usually used as a means of transaction, investment, trading, and others, whose existence has not been accepted by all communities.

I wonder why everybody is still fixated about the price of Bitcoin.  Roll Eyes
Do you bother about the price of the dollar or the Euro? You just go ahead and use it. Do the same with Bitcoin as well. Receive Bitcoin for goods/services and pay bitcoin for goods/services that you receive.

You simply don't get it

Bitcoin is mostly used for speculation, but speculation is essentially about buying low and selling high. Only a small percentage of people use Bitcoin to spend it directly on goods and services. All other people are using it to earn profits through trading or just holding it in the anticipation of becoming super rich somewhere in the future. That's why people care so much for the price of Bitcoin, it gives them hope

Like me, I imagine I would have been a multi-millionaire by now, does not matter, I still will be

But to hope for something out of nothing is the most popular form of hope

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December 02, 2016, 03:49:01 PM
 #419

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?


Firstly Bitcoin and money is different, this is a decentralised currency. It's highly secured easy to exchange and it's is more like a commodity if you want a simple understanding more like gold and it's safe to invest in it. Buy and sell it and make profit, just be careful about how and when to invest.

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michkima
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December 02, 2016, 03:58:05 PM
 #420

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?


Firstly Bitcoin and money is different, this is a decentralised currency. It's highly secured easy to exchange and it's is more like a commodity if you want a simple understanding more like gold and it's safe to invest in it. Buy and sell it and make profit, just be careful about how and when to invest.

It is not safe to invest in bitcoin. I am referring to the incident of Mt. Gox and Bitfinex. Because of those incidents the price of Bitcoin dropped big time. So you can really say that investing in bitcoin is safe. There is no safe investment in the world. There is always a chance that any investment will fail or decrease. You can't also compare bitcoin to gold. These two are very different in concept and trading. Bitcoin has not yet been adopted widely as gold has been. Gold has been here more than a thousand years.

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