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Author Topic: Difference between Bitcoin and real money?  (Read 110676 times)
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January 20, 2017, 11:23:05 PM
 #621

I perfectly perfect balance and cryptocurrency and real money. In my life, everything finds its application and that nothing does not suffer from this. So you can not give what one is preferred.

Sure, at the moment you cannot choose one over the other because they are both interchangeably used in transacting daily businesses but if you can't have a preference doesn't mean there aren't differences between them. So I will furnish you with just two(2) differences below:

1. Bitcoin unlike real money is a decentralized currency so there's no central entity regulating or controlling it.
2. Bitcoin is durable and hence it cannot be destroyed or damaged unlike real money which ends up losing its physical qualities through exchanges and transfers.

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January 20, 2017, 11:27:33 PM
 #622

Real money or Fiat cash is controlled and backed by Governments who issue it. Bitcoin is not controlled by anyone, it is set up using mathematics, code and algorithm and supported by miners who secure the network.


The simple explanation if you see the physical form of bitcoin and you can call it the legitimate currency and if you don't and can't call it the in legitimate currency.
This is the form of the privacy currency.
Fitness bitcoin? This is something new. I have not even thought about this. What's the point in a digital currency if it is to have a physical form. These same capabilities can punish Fiat. The truth is confidential matters more than anything else.
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January 20, 2017, 11:31:59 PM
 #623

Many more simply do not think about the great opportunities that they can present investment in bitcoin. I think that the first thing a business should be interested in how to invest their earnings in bitcoin. Tax inspection will not be able to track this.
The most fundamental difference is bitcoin decentralization and it does not have a control center, as opposed to fiat or real money. they have an owner ie government as the holder control over the currency's

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January 21, 2017, 03:20:20 AM
 #624

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?

When you are investing using a real money there is no more processing to your money if you use it to buy. The bitcoin has many process to make you need to buy anything but the advantages of bitcoin why the business man use it because the price of bitcoin is increasing quickly. So if he convert real money into a bitcoin since last two years you could earn also that is the difference.

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January 21, 2017, 03:32:44 AM
 #625

the difference between bitcoin, and the real money is in place. bitcoin has no place in the real world, but it bitcoin also only have one form, that is digital. while the real money, has many forms, such as digital, paper money, and coins. and its use is so wide of the bitcoin.
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January 21, 2017, 04:46:40 AM
 #626

There's a lot of difference
between bitcoin and real
money.If you use bitcoin
there's a lot of benefits that
you will going to receive and
it makes transaction easier.

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January 21, 2017, 04:54:35 AM
 #627

Real money or Fiat cash is controlled and backed by Governments who issue it. Bitcoin is not controlled by anyone, it is set up using mathematics, code and algorithm and supported by miners who secure the network.

You can send BTC to anyone anywhere in the world in minutes, where as you cannot do this fiat cash as it takes time and lot of service charge.

For the end user point of view, Bitcoin has no taxes as compare to fiat where government charge Taxes on transactions through banks etc.
Also you can touch the physical currency in your hands and no can only see Bitcoins in wallet and cannot feel them.

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January 21, 2017, 05:02:43 AM
 #628

Difference between Bitcoin and real money?
Bitcoin is not real money,you dont need to meet a person when you doing a transaction and you dont have any information about person you just sent, theres a chance you getting scammed in every transaction.
You can't take it back because its annonymous.
You dont know who is the person behind address that you just sending.
When do payment using real money, both of you need to share information so you can can reduce some chance that you getting scammed.
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January 21, 2017, 05:35:51 AM
 #629

The difference is that
Bitcoin ihas only one form ie digital while real money can be physical and digital
Bitcoin is decentralised so no one actually owns or controls it while the real money or fiats are governed by the government
Bitcoins can be transferred to anyone but it is not the same  with fiats .
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January 21, 2017, 05:44:59 AM
 #630

the difference between bitcoin, and the real money is in place. bitcoin has no place in the real world, but it bitcoin also only have one form, that is digital. while the real money, has many forms, such as digital, paper money, and coins. and its use is so wide of the bitcoin.
No, you are wrong, real money can be in the form of paper money or digital money. Bitcoin is only a digital money and the government does not create nor regulate it. IMO, the aforementioned are the big difference, people chooses both as they have different advantage it can give to us. Bitcoin is anonymous, good for shady activities and fast online transaction and etc.

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January 21, 2017, 06:50:34 AM
 #631

There is no major difference between Bitcoin and real money.
Both are almost the same.
Bitcoin is a crypto currency , which is also like the normal currency.
As it can be converted into USD or any other currency.
But the only problem is that if you have stored your BTCBTC in a block chain wallet
and if it gets hacked , you will loose all your money and you cant do anything about that.
But if you store your real money in a bank or something and if that gets hacked , you have
every right to claim that back.
So on a high note , i fell this is only the difference.
There are small differences as well that dont really matter
Like bitcoin is a digital currency , you cant have notes of BTC.
And other currencies like USD , Rupees etc etc are both digital and paper currency.
Rest everything is the same i guess , despite some negligible or minor differences.

   
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January 21, 2017, 06:58:36 AM
 #632

the difference between bitcoin, and the real money is in place. bitcoin has no place in the real world, but it bitcoin also only have one form, that is digital. while the real money, has many forms, such as digital, paper money, and coins. and its use is so wide of the bitcoin.
No, you are wrong, real money can be in the form of paper money or digital money. Bitcoin is only a digital money and the government does not create nor regulate it. IMO, the aforementioned are the big difference, people chooses both as they have different advantage it can give to us. Bitcoin is anonymous, good for shady activities and fast online transaction and etc.

As mentioned bitcoin has only the digital form, but real money has digital form as well paper form. Usability depends upon the user. Importantly more countries have been making steps to digitalise their entire paper money.


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January 21, 2017, 11:13:06 AM
 #633

There are lots of differences between bitcoin and the real money. first, bitcoin is an online currency therefore, it has no physical money unlike the real money. Next , bitcoin is decentralized while the real money are being controlled by the government. Third, bitcoin can be use without any identification while in real money, they can identify you because they can your face when buying something. There are still lots of differences between bitcoin and the real money.

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January 21, 2017, 01:33:05 PM
 #634

There are lots of differences between bitcoin and the real money. first, bitcoin is an online currency therefore, it has no physical money unlike the real money. Next , bitcoin is decentralized while the real money are being controlled by the government. Third, bitcoin can be use without any identification while in real money, they can identify you because they can your face when buying something. There are still lots of differences between bitcoin and the real money.

That's why you can even be more anonymous when you use paper money. You said you would have to go face-to-face with someone if you want to buy something. But what if you ask someone else to buy that particular product and then later on just give it to you. Then that means that you can use someone else's identity in real life. Anyway, it's not that much problem if you're not doing sketchy stuffs. Anonymity isn't that needed unless someone wants to go after you.

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January 21, 2017, 01:58:05 PM
 #635

There are lots of differences between bitcoin and the real money. first, bitcoin is an online currency therefore, it has no physical money unlike the real money. Next , bitcoin is decentralized while the real money are being controlled by the government. Third, bitcoin can be use without any identification while in real money, they can identify you because they can your face when buying something. There are still lots of differences between bitcoin and the real money.
to me  i think the main two differences between bitcoin and real money is that bitcoin is decentralize currency, not under the control of single person, group of people,  organization or any state, while real money remain centralize and always under the control of governments. bitcoin has the same value in all over  the world therefore one can use it anywhere without changing it into to local currency. while  fiat currency have different values from place to place.

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Xester
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January 21, 2017, 01:59:43 PM
 #636

There are lots of differences between bitcoin and the real money. first, bitcoin is an online currency therefore, it has no physical money unlike the real money. Next , bitcoin is decentralized while the real money are being controlled by the government. Third, bitcoin can be use without any identification while in real money, they can identify you because they can your face when buying something. There are still lots of differences between bitcoin and the real money.

Real money will going to have soon a digital counterpart and China will take the first step on September by launching its first prototype fiat digital currency. Soon real money will be no more only real digital currency. Cashless society will soon bloom. The only difference left between bitcoin and fiat currency in the future is the volatility, decentralization and government control.

sabbirshm
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January 21, 2017, 02:05:38 PM
 #637

I think most common difference between real money and bitcoin is Real money can be use anywhere but We can't use bitcoin everywhere.Also I think bitcoin is more secure than real money.We can give many security to our bitcoin wallet.But Real money could be stolen in street.
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January 21, 2017, 02:18:51 PM
 #638

the difference between bitcoin, and the real money is in place. bitcoin has no place in the real world, but it bitcoin also only have one form, that is digital. while the real money, has many forms, such as digital, paper money, and coins. and its use is so wide of the bitcoin.
No, you are wrong, real money can be in the form of paper money or digital money. Bitcoin is only a digital money and the government does not create nor regulate it. IMO, the aforementioned are the big difference, people chooses both as they have different advantage it can give to us. Bitcoin is anonymous, good for shady activities and fast online transaction and etc.

As mentioned bitcoin has only the digital form, but real money has digital form as well paper form. Usability depends upon the user. Importantly more countries have been making steps to digitalise their entire paper money.
The fact that fiat currency is a physical currency is seen as something positive for some people, but the truth is that this is an aspect that brings a number of problems, such as the extra expense to store it in banks and the ease with which this kind of money can be faked.
With regard to Bitcoin, there are ways to store it in physical forms, but this creates an additional cost. In addition, most people have a smartphone these days, making it easier to use the currency.

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January 21, 2017, 02:24:01 PM
 #639

Bitcoin has many more uses and it is a transaction ledger as well as can be used as a currency, or stored as a store of wealth just like gold or silver. Bitcoin is easier to transport and transfer and cheaper als0o.

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January 21, 2017, 03:15:53 PM
 #640

Bitcoin has many more uses and it is a transaction ledger as well as can be used as a currency, or stored as a store of wealth just like gold or silver. Bitcoin is easier to transport and transfer and cheaper als0o.
That's correct. Bitcoin is more useful than tradition FIAT in many ways. It can be used both as a type of investment and currency. People are easier to transfer their money oversea with Bitcoin and it is certain that Bitcoin is more secure than FIAT

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