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Author Topic: Difference between Bitcoin and real money?  (Read 110632 times)
poetra2501
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January 27, 2017, 03:49:59 PM
 #681

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?

I think bitcoin not controlled by the government, bitcoin is not owned, not operated, not regulated by a government,
and did not any changes from the consequence of failure brought on by a government.
In contrast with the real-money set by the government.
Bitcoin is no controlled by government , But I think bitcoin is owned by the creator of it, Satoshi Nakamoto. We know that satoshi leave's us bitcoin because he know that it is for his security. Lets just be happy that satoshi nakamoto created bitcoin after he disappeared. I think satoshi nakamoto is still here and watching the his creation
Yeah bitcoin is owned by the creator of it, Satoshi Nakamoto, But whether Satoshi Nakamoto
that control this cryptocurrency, Bitcoin ? I think not, actually who controls the bitcoin so able to survive until now?

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January 27, 2017, 03:55:30 PM
 #682

All clear for us as users of the bitcoin, but the uninitiated bitcoin then they assume that bitcoin it same with payment processors such as paypal, liberty reserve etc. I say that bitcoin and real money is different, the most noticeable is that bitcoin anti inflation, while the real money has always been affected by inflation.

The most important one is we can only use bitcoin at online like an online business, online transaction, online trading, online gambling and not all people are using bitcoin. In the other hand, all people use real money/fiat and already known of it. We also can use real money for anything and all people are accept it.

Why you think real money is fiat and not bitcoin ?  Bitcoin is a money in itself and it is real money. Only the form of money is changed from physical to Digitial.Currently bitcoin is not acceptable everywhere thats why we need to convert bitcoin into local currency, but in near future when bitcoin will be everywhere available, then we even dont need to convert bitcoins to local cash.

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btcdiggingmaster
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January 27, 2017, 04:06:23 PM
 #683

Bitcoin is completely different from fiat currency because every country has it's own currency and their value, but where as bitcoin is unique to all countries and value of bitcoin is same to all countries but they convert them to fiat it gives different values. Bitcoin value depends on supply and demand where as fiat currency is stagnate currency.
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January 27, 2017, 05:31:46 PM
 #684

What do you mean by real money? Your question should be like "What is the difference between bitcoin and fiat?" because bitcoin is real money.
Bitcoin is the best cryptocurrency having highest price than other currencies. The bitcoin users are increasing and hence the price in the market, so it is better to invest fiat in bitcoin to get better profit in future.




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January 27, 2017, 06:02:13 PM
 #685

i think the main and the most prominant difference is easy to use and i think we can use real money any where and bitcoin is not but iam sure as internet is proceeding in the world  bitcoin can be access by every person and many online shop will accept it in the future and it can be use as a daily life money like real  money.......

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January 27, 2017, 06:25:17 PM
 #686

Naturally, if you are skeptical about this if you are new to Bitcoin. Regarding the difference Bitcoin with real money I have seen so many have told you in posts before. But whatever it is, for me Bitcoin is money, and money is Bitcoin.
The more you learn about Bitcoin, how, and what functions it Bitcoin then you will be more in love with Bitcoin.
You should try it immediately. If you are skeptical like now but you never want to try it, it would be futile.


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January 28, 2017, 11:55:18 AM
 #687

Naturally, if you are skeptical about this if you are new to . Regarding the difference  with real money I have seen so many have told you in posts before. But whatever it is, for me  is money, and money is .
The more you learn about , how, and what functions it  then you will be more in love with .
You should try it immediately. If you are skeptical like now but you never want to try it, it would be futile.
yeah i think the difference is just for the people between it and real money is understanding of people..... the more people understand it the more they will fall in love with him.....

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January 28, 2017, 12:03:26 PM
 #688

The main difference is that bitcoin is only 8 years old and for example the Dollar is 250 years old.

This mean when Bitcoin would older, than everyone would knew and also accept it.

In the reality Bitcoin and real money is nearly the same.

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January 28, 2017, 12:04:37 PM
 #689

In five years since the invention of the Bitcoin currency, as the first practical application based on it's technology, has achieved significant success in the global financial system. It's breakthrough potential thoroughly shook the very concept of money and ignited in the minds of people many guesses on how generally the money can be. Some critics have called his money with a Libertarian slant, intended to build a new capitalism, while many economists were quick to call the deflationary nature of Bitcoin the lack of it. However, Bitcoin does not fit into any existing forms of money.
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January 28, 2017, 12:19:59 PM
 #690

The main difference is that bitcoin is only 8 years old and for example the Dollar is 250 years old.

This mean when Bitcoin would older, than everyone would knew and also accept it.

In the reality Bitcoin and real money is nearly the same.
It is not measured based on the number of years in existence, it is measured more on how people adopt it. Bitcoin could exist for 1,000 years but it will not surpass the success of real money during it's existence of 250 years. Remember that real money is created by the government while bitcoin is not.

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January 28, 2017, 12:30:10 PM
 #691

There is huge difference between them because fiat currency is always a currency which is acceptable every where in that country, but bitcoin is not implemented to accept every where. For small scale industries many people need real money because they cannot do huge transaction like big companies. So it means that bitcoin is completely digital currency where as we can carry them with us but we need proper internet but though many companies are not accepting bitcoins.

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webtricks
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Dil se, Batue se, dono se ameer hain!! <3


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January 28, 2017, 12:30:35 PM
 #692

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 hardly any difference between Bitcoin and Real Money (Bitcoin is too real money, you should have used Physical or Fiat Money). Both are currencies and satisfying utility as- medium of exchange, store of value, standard of deferred payment and measure of value.

However, what makes them different is concept behind them. Bitcoin is purely decentralized whereas money is highly centralized. Once you own Bitcoin, you are its sole owner. No one can peek in, control or regulate your Bitcoin. Whereas in case of fiat money, you could never become its real owner. Your fiat money always subject to Government regulations. Its value can become nil on one call of government. Example- Demonetization in India.

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January 28, 2017, 02:09:27 PM
 #693

In my opinion the main difference between bitcoin and fiat money (i don't want to say real money because i trust bitcoin as real money too), is about trust. In fiat system you need to trust a central bank and a government on bitcoin system if you have the private key of your bitcoins you don't need to trust any other agent.
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January 28, 2017, 02:46:29 PM
 #694

The main difference that I consider is much important for me and maybe for many here is the ability to use bitcoin immediately.

For online purpose bitcoin can be used very fast (if the other party accepts bitcoin of course) and with some fees using third party services if the other party does not accept bitcoin.

But for withdrawing cash or selling the bitcoin for cash in high amounts this is the issue that people face.

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January 28, 2017, 05:41:04 PM
 #695

The main difference is that bitcoin is only 8 years old and for example the Dollar is 250 years old

Deep down, this is not correct

Today's dollar is only a little over forty years old. After the so-called Nixon Shock which happened in 1971, it is essentially a total different kind of money, though it might still be the same FED notes as they have been known since 1913. In 1971, Richard Nixon cancelled the direct convertibility of the US dollar to gold, and the effect of this event is basically the same as if the Bitcoin cap at 21M coins were removed tomorrow. I once started a thread about that, and most folks claimed than lifting this limit would instantly kill Bitcoin. I'm not sure about killing, but that would certainly make Bitcoin into a different currency

virasog
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January 29, 2017, 06:11:33 PM
 #696

This topic have a lot of discussion, but in short, we use the real money in anywhere without use the internet and definitely we have no problem to use the fiat but instead of it online investment or trading and any other things we could use the bitcoin easily. But it is true bitcoin couldn't get the place of real money, Both have own places and benefits.   

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January 29, 2017, 06:34:43 PM
 #697

bitcoin is the currency of virtual world and we get a good privacy with it, but with $ we can not get that level of security and privacy but in other sense bitcoin have some bad sides  too but in gambling and trading bitcoin is sutable than dollars because of its quantity , durablity and its demands


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angaper
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January 29, 2017, 09:12:18 PM
 #698

The main difference is that bitcoin is only 8 years old and for example the Dollar is 250 years old

Deep down, this is not correct

Today's dollar is only a little over forty years old. After the so-called Nixon Shock which happened in 1971, it is essentially a total different kind of money, though it might still be the same FED notes as they have been known since 1913. In 1971, Richard Nixon cancelled the direct convertibility of the US dollar to gold, and the effect of this event is basically the same as if the Bitcoin cap at 21M coins were removed tomorrow. I once started a thread about that, and most folks claimed than lifting this limit would instantly kill Bitcoin. I'm not sure about killing, but that would certainly make Bitcoin into a different currency

But the American dollar did not cease to exist because of that change of monetary policy. This change took place without immediate repercussions to the ongoing economy. The world did not break down in a financial crisis nor did the markets break the next day, so I refuse to think that it was a real "refoundation" of the dollar.

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January 29, 2017, 09:41:24 PM
 #699

This topic have a lot of discussion, but in short, we use the real money in anywhere without use the internet and definitely we have no problem to use the fiat but instead of it online investment or trading and any other things we could use the bitcoin easily. But it is true bitcoin couldn't get the place of real money, Both have own places and benefits.   
yeah we can use the real money for direct shopping in local stores and we know that bitcoin is just using for online transaction like as online shopping or in use of website but i hope we will be use our bitcoin like as fiat like our regular money because bitcoin is getting much more popularity and there is a lot of people adopting bitcoin huge amount for the future i hope we will be using our bitcoin like as our regular currency.

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January 29, 2017, 09:46:01 PM
 #700

The main difference is that bitcoin is only 8 years old and for example the Dollar is 250 years old

Deep down, this is not correct

Today's dollar is only a little over forty years old. After the so-called Nixon Shock which happened in 1971, it is essentially a total different kind of money, though it might still be the same FED notes as they have been known since 1913. In 1971, Richard Nixon cancelled the direct convertibility of the US dollar to gold, and the effect of this event is basically the same as if the Bitcoin cap at 21M coins were removed tomorrow. I once started a thread about that, and most folks claimed than lifting this limit would instantly kill Bitcoin. I'm not sure about killing, but that would certainly make Bitcoin into a different currency

But the American dollar did not cease to exist because of that change of monetary policy
. This change took place without immediate repercussions to the ongoing economy. The world did not break down in a financial crisis nor did the markets break the next day, so I refuse to think that it was a real "refoundation" of the dollar

Some folks may disagree with this claim

And some of them consider the Fed notes which are known today as the American dollar as fake dollars (compared to genuine greenbacks that were in circulation before 1933 and which had been backed up by gold). Regarding repercussions to the economy, you are confusing cause and effect here. Don't you find it amusing that the very event which happened in 1971 was called precisely as [Nixon] Shock? In fact, the dollar had started losing its "gold content" right after the establishment of the Bretton-Woods monetary system based on the US dollar fully backed up by gold. So this event was itself a repercussion of the failing dollar, and the years which followed the Nixon Shock confirmed that in full. The world was in deep financial crisis back then with markets breaking apart (e.g. oil market) and dollar inflation being in two digits for several years

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