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Author Topic: Difference between Bitcoin and real money?  (Read 113828 times)
(altair)
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January 29, 2017, 10:04:11 PM
 #701

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?

Why should you convert your dollar to bitcoin maybe bitcoin have a potential that its value to increase,
and also I think bitcoin doesn't have tax and when it comes to gambling you can use bitcoin for faster transaction,
and also I think converting your dollar to bitcoin is already considered as investment.
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January 30, 2017, 02:12:52 AM
 #702

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.
actually bitcoin is a new emerging currency, although its users are available everywhere in the world, but actually most of the people do not have proper knowledge about it therefore they are not accepting bitcoin but in future we can expect that all the people will surely start accepting bitcoin.


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January 30, 2017, 03:31:35 AM
 #703

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.
actually bitcoin is a new emerging currency, although its users are available everywhere in the world, but actually most of the people do not have proper knowledge about it therefore they are not accepting bitcoin but in future we can expect that all the people will surely start accepting bitcoin.
This is only a matter of time until people around the world know about bitcoin, so perhaps everyone will stop using paper money and then switch to using bitcoin. I think the difference bitcoin with paper money is bitcoin easier and safer to use for transactions in large amounts or small.


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January 30, 2017, 03:40:22 AM
 #704

I guess there really is no difference between bitcoin and real money...its kind of funny, now aday's most people are cashing out their bitcoin, not investing in it, and alt coins are all the rage, coins like ethereum and golem, both of which have raised over 8 million usd in ico's//ipo's
are totally reinventing the crypto scene. Bitcoin is technically run buy a ton of enthusiasts and early adopters..many of which have traded their bitcoin to other cryptocurrencies...and remember it is technically impossible to cash out 1 million dollars in cryptocurrency via services such as coinbase, which puts a limit on its user withdrawals.

So yeah basically its cool to buy a few million satoshi's (0.00000001) or invest in other altcoins to have a varied portfolio..but only holding bitcoin...its a bit of a risk.
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January 30, 2017, 03:50:08 AM
 #705

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.
actually bitcoin is a new emerging currency, although its users are available everywhere in the world, but actually most of the people do not have proper knowledge about it therefore they are not accepting bitcoin but in future we can expect that all the people will surely start accepting bitcoin.
This is only a matter of time until people around the world know about bitcoin, so perhaps everyone will stop using paper money and then switch to using bitcoin. I think the difference bitcoin with paper money is bitcoin easier and safer to use for transactions in large amounts or small.
I don't see a chance it will happen in the future, paper money is the most convenient currency for the whole population in general, so I don't think the government will push the people in using bitcoin. The government has their own digital currency and that is not bitcoin for sure, we in the crypto world is lucky to have benefited in using fiat and bitcoin.

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January 30, 2017, 04:04:14 AM
 #706

yeah your right...I really don't see bitcoin replacing paper currency, however bitcoin may be a contender with banks allowing you to open up bitcoin accounts and spend it via interac and the banks them selves being treated as green addresses to overcome the long confirmation times..and not to mention varying transaction fee's..i mean would you really want to spend more money just to use your own money, seeing as banks over basically no transaction fees and also interest...I mean will bitcoin adopt pos?
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January 30, 2017, 08:28:40 AM
 #707

yeah your right...I really don't see bitcoin replacing paper currency, however bitcoin may be a contender with banks allowing you to open up bitcoin accounts and spend it via interac and the banks them selves being treated as green addresses to overcome the long confirmation times..and not to mention varying transaction fee's..i mean would you really want to spend more money just to use your own money, seeing as banks over basically no transaction fees and also interest...I mean will bitcoin adopt pos?

I think you're right about Bitcoin not going to be able to replace fiat currencies because they both have their pros and cons and at the moment we all can only appreciate their strengths in our day to day life and use them accordingly. I know Bitcoin isn't physical like paper currency and cannot suffer bruises but it can make virtual payments unlike paper currencies that has to be converted into digital currency first.

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January 30, 2017, 08:52:28 AM
 #708

Bitcoin can do more things as it is a transaction ledger that records transactions and is also limited in Supply. Fiat currency is unlimited and central banks can print more and more of it, thus making it more and more worthless as the years go by.

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January 30, 2017, 09:06:48 AM
 #709

yeah your right...I really don't see bitcoin replacing paper currency, however bitcoin may be a contender with banks allowing you to open up bitcoin accounts and spend it via interac and the banks them selves being treated as green addresses to overcome the long confirmation times..and not to mention varying transaction fee's..i mean would you really want to spend more money just to use your own money, seeing as banks over basically no transaction fees and also interest...I mean will bitcoin adopt pos?

I think you're right about Bitcoin not going to be able to replace fiat currencies because they both have their pros and cons and at the moment we all can only appreciate their strengths in our day to day life and use them accordingly. I know Bitcoin isn't physical like paper currency and cannot suffer bruises but it can make virtual payments unlike paper currencies that has to be converted into digital currency first.
Indeed bitcoin there not will be replacing fiat money. The trustworthiness of the
people against the bitcoin is very low. Unlike the fiat money long gain the trust of the people.

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January 30, 2017, 02:23:52 PM
 #710

I guess there really is no difference between bitcoin and real money...its kind of funny, now aday's most people are cashing out their bitcoin, not investing in it, and alt coins are all the rage, coins like ethereum and golem, both of which have raised over 8 million usd in ico's//ipo's
are totally reinventing the crypto scene. Bitcoin is technically run buy a ton of enthusiasts and early adopters..many of which have traded their bitcoin to other cryptocurrencies...and remember it is technically impossible to cash out 1 million dollars in cryptocurrency via services such as coinbase, which puts a limit on its user withdrawals.

So yeah basically its cool to buy a few million satoshi's (0.00000001) or invest in other altcoins to have a varied portfolio..but only holding bitcoin...its a bit of a risk.

Are you advertising some altcoin (no offense intended)?

In fact, this is the first time I hear the word golem used as a reference to a cryptocurrency. Before Ethereum, there were quite a few other currencies that aimed at replacing Bitcoin at the end of the day (e.g. Ripple, BitShares, maybe a few others), but they are mostly forgotten now. To tell the truth, all cryptocurrency scene seems to me a big-time con game to get money from too trustful or too greedy people. I guess in a few years no one will remember about these new kids on the block after they successfully hit the floor

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January 30, 2017, 02:51:52 PM
 #711

yeah your right...I really don't see bitcoin replacing paper currency, however bitcoin may be a contender with banks allowing you to open up bitcoin accounts and spend it via interac and the banks them selves being treated as green addresses to overcome the long confirmation times..and not to mention varying transaction fee's..i mean would you really want to spend more money just to use your own money, seeing as banks over basically no transaction fees and also interest...I mean will bitcoin adopt pos?

I think you're right about Bitcoin not going to be able to replace fiat currencies because they both have their pros and cons and at the moment we all can only appreciate their strengths in our day to day life and use them accordingly. I know Bitcoin isn't physical like paper currency and cannot suffer bruises but it can make virtual payments unlike paper currencies that has to be converted into digital currency first.
The fact that most users still need to convert btc to fiat currency means that Bitcoin still needs to make much progress in the market, especially with regard to the number of people willing to accept the cryptocurrency as a form of payment. I think that the reasons that lead some people to step back are problems like the scaling issue, and also price instability.

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January 30, 2017, 03:12:23 PM
 #712

Bitcoin IS the real money and the word seems to be getting out. Just in the last 2 or 3 days:

http://www.businessinsider.com/why-bitcoin-is-the-new-gold-btcc-2017-1
http://seekingalpha.com/article/4040233-gold-dead
https://vinnylingham.com/gold-is-getting-trumped-62d7f21475ee#.kzlyi0xck


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January 30, 2017, 04:08:21 PM
 #713

The relationship between bitcoin and usd is like usd and jpb. Bitcoin value has been increasing from inception and that is the beauty of it. Bitcoin is decentralized, and because of this in future conventional banking money transfer such as monkey gram and western union may not be relevant again. Again bitcoin has been performing the role of exchange of goods and services, it has also served as a measure and store of value.


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January 30, 2017, 04:21:27 PM
 #714

Today government are forcing their people to support only digital currency, fiat currency can used as paper currency and some people uses only their credit/debit cards. Now today bitcoin is completely digital currency which cannot be used as paper currency any more.


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Dr.Osh
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January 30, 2017, 05:02:01 PM
 #715

bitcoin might just be digital money and real money, it can be used in digital form, or in the form of paper money. in addition, real money has been recognized, and we know it as fiat. Well, the real money is the money used for transactions freely in a country, and has been recognized.

marcoman22
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January 30, 2017, 05:24:43 PM
 #716

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 is a decentralized currency not controlled by anyone.It can be used for transactions all over the world at very low transaction fees when compared to other transactions through banks. We can buy anything with bitcoins without giving our personal details.Bitcoin makes us independant of banking system.More over bitcoin can be bought as an investment which gives high profits.
onelove2111
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February 04, 2017, 08:22:47 PM
 #717

Better when there will be real money and bitcoin simultaneously. The fact that Bitcoin is the currency for a very limited number of people and so most will still use real money.
geopolisch
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February 04, 2017, 08:40:53 PM
 #718

Better when there will be real money and bitcoin simultaneously. The fact that Bitcoin is the currency for a very limited number of people and so most will still use real money.
I do not think that we will be having options to use both fiats and bitcoins simultaneously in extreme conditions. When bitcoin gets its real valuation then people may start forgetting using fiats. Yes people will use only a system which will be suiting him in all ways. Bitcoin must be a right choice for that.


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ananas99
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February 04, 2017, 09:11:51 PM
 #719

Better when there will be real money and bitcoin simultaneously. The fact that Bitcoin is the currency for a very limited number of people and so most will still use real money.
I do not think that we will be having options to use both fiats and bitcoins simultaneously in extreme conditions. When bitcoin gets its real valuation then people may start forgetting using fiats. Yes people will use only a system which will be suiting him in all ways. Bitcoin must be a right choice for that.
Bitcoin can offer users and people simply do not know about his merits, which in some cases can even improve their well-being.

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salemon
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February 04, 2017, 09:58:44 PM
 #720

Well, if you imagine that instead of all the money took the place of bitcoin, that when a need for credits or other needs, as all realize it is not clear.
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