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Author Topic: Difference between Bitcoin and real money?  (Read 110633 times)
artows21
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February 14, 2017, 05:03:38 PM
 #841

Bitcoin is virtual money and doesn't have the same value of money
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February 14, 2017, 05:05:30 PM
 #842

Bitcoin is virtual money and doesn't have the same value of money

But isn't this paradoxal ? You are saying that Bitcoin is virtual money, so you are assuming that Bitcoin is money. I think he thought most about the Bitcoin/fiat difference, and in this case, fiat is state-produced while Bitcoin is created by a consensus.

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February 14, 2017, 07:53:27 PM
 #843

The most obvious difference from real money and bitcoin is when we use for transacting. If we send money with real money so it takes a long process and the cost is high, but after the presence of bitcoin then everything becomes a fast, effective and cheap.
this is probably one of the big difference between bitcoin and real money. real money don't have all these features, which own by bitcoin. really money can only be used in shopts, and buy things but bitcoin can be use widely in various purposes.


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February 16, 2017, 10:16:02 PM
 #844

The most obvious difference from real money and bitcoin is when we use for transacting. If we send money with real money so it takes a long process and the cost is high, but after the presence of bitcoin then everything becomes a fast, effective and cheap.
Bitcoin should not be compared with money, it cannot exist without money but money can still be popular without bitcoin. It is just something that gives us extra convenient doing online transaction and the fact that it can also be considered as investment, it will attract more business minded people.
But, do not forget that it will not beat real money, as we cannot live with bitcoin alone.
Bitcoin is money so we can compare it to any other currencies that exist today, bitcoin beats them in almost every category the only categories where bitcoin is not at the top are adoption and the backing of an established government, in almost everything else bitcoin is better.



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February 17, 2017, 03:25:26 AM
 #845

The way the question is framed is already a mistake, Bitcoin is real money, in fact bitcoin is better on performing the job of money than any fiat in circulation because it is money that has all of the characteristics you will expect of the currencies of the world and also is a store of value, while the price of bitcoin oscillates the truth is that anyone with an ounce of intelligence would have profit from the price changes.
the difference between them is in how it is used. bitcoin is more practical and faster. reason why it's better to exchange fiat to bitcoin is because the value of fiat will continue to fall but bitcoin value tends to rise.


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February 17, 2017, 07:24:22 AM
 #846

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?


In real money you can bring it anywhere you go and you can use too in every every item you gonna buy it whether a things, food,  paying bills, or buying fuels and others, only the disadvantage was it can be loss in your pocket or it can be steal by the thief while in Bitcoin there is a certain merchants who accepted it for now it may not be like real money that can be use everywhere but it can be much safer than real currency and bitcoin can increase the value but in money there is fix amount only.

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February 17, 2017, 07:47:44 AM
 #847

The way the question is framed is already a mistake, Bitcoin is real money, in fact bitcoin is better on performing the job of money than any fiat in circulation because it is money that has all of the characteristics you will expect of the currencies of the world and also is a store of value, while the price of bitcoin oscillates the truth is that anyone with an ounce of intelligence would have profit from the price changes.
the difference between them is in how it is used. bitcoin is more practical and faster. reason why it's better to exchange fiat to bitcoin is because the value of fiat will continue to fall but bitcoin value tends to rise.
It's not guaranteed actually, we are seeing the value is growing but it is not on a consistent basis. You are taking risk every time you convert your fiat to bitcoin and you are just hoping that your decision is right. In terms of currency or payment system, real money is more easy to use and no matter how successful bitcoin is in the future, not gonna happen that we will have to sacrifice paper money for bitcoin.

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February 17, 2017, 09:25:28 AM
 #848

Bitcoin is virtual money and doesn't have the same value of money

Bold statement very bold, if you think like this that bitcoin dont have same value as money then i will buy all you coins for 1 dollar each.
You see how thing can turn around bitcoin is freedom of money.



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February 17, 2017, 09:55:56 AM
 #849

Bitcoin is virtual money and doesn't have the same value of money

You do not explain in detail. My question is, which one do you prefer : BTC or FIAT? If you want bitcoin has same value, then bitcoin will not famous like now because they don't have an advantage in terms of nominal.

1 bitcoin = 1019.74 $. From here we can see that bitcoin is more valuable than Fiat, are even more expensive than gold. No different if we call bitcoin as a currency. The potential to collect bitcoin far more numerous and open to everyone, because it is able to have its own market and there is no government policy intervention, nothing could stem bitcoin.


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February 17, 2017, 12:18:44 PM
 #850

Bitcoin is virtual money and doesn't have the same value of money

You do not explain in detail. My question is, which one do you prefer : BTC or FIAT? If you want bitcoin has same value, then bitcoin will not famous like now because they don't have an advantage in terms of nominal.

1 bitcoin = 1019.74 $. From here we can see that bitcoin is more valuable than Fiat, are even more expensive than gold. No different if we call bitcoin as a currency. The potential to collect bitcoin far more numerous and open to everyone, because it is able to have its own market and there is no government policy intervention, nothing could stem bitcoin.


Bitcoin is more valuable than fiat in terms of price but in terms of usefulness I doubt bitcoin can ever compete with fiat. The price is not the main basis to determine how valuable it is, as you have witnessed, bitcoin is not stable enough and there is no support yet coming from the government which would give a hint that it will be the next big thing.

Comparing the users of fiat and bitcoin, we can already tell which is more valuable and I know it's obviously fiat, at least for now.

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February 17, 2017, 12:46:58 PM
 #851

Bitcoin is virtual money and doesn't have the same value of money

Bold statement very bold, if you think like this that bitcoin dont have same value as money then i will buy all you coins for 1 dollar each.
You see how thing can turn around bitcoin is freedom of money.

It is funny but it is true. To think that bitcoin has no value is like saying other commodities has no value at all. If for example we dont accept money anymore then money will have no value at all. Its the same with bitcoin if people will not accept bitcoin in exchange for goods and services then it will have no value. The value comes in when people agrees to something that they will use to exchange goods and services. This conditions make bitcoin and money on the same level.

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February 17, 2017, 12:48:00 PM
 #852

Bitcoin is virtual money and doesn't have the same value of money

You do not explain in detail. My question is, which one do you prefer : BTC or FIAT? If you want bitcoin has same value, then bitcoin will not famous like now because they don't have an advantage in terms of nominal.

1 bitcoin = 1019.74 $. From here we can see that bitcoin is more valuable than Fiat, are even more expensive than gold. No different if we call bitcoin as a currency. The potential to collect bitcoin far more numerous and open to everyone, because it is able to have its own market and there is no government policy intervention, nothing could stem bitcoin.


Bitcoin is more valuable than fiat in terms of price but in terms of usefulness I doubt bitcoin can ever compete with fiat. The price is not the main basis to determine how valuable it is, as you have witnessed, bitcoin is not stable enough and there is no support yet coming from the government which would give a hint that it will be the next big thing.

Comparing the users of fiat and bitcoin, we can already tell which is more valuable and I know it's obviously fiat, at least for now.
The big difference is about the inflation.
Fiat money inflation is controlled by the government and is not fixed, while bitcoin's inflation is fixed and everybody are able to know how many bitcoins are in exist and how many are going to be added to the network and in what time.
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February 17, 2017, 07:42:46 PM
 #853

Bitcoin is virtual money and doesn't have the same value of money

You do not explain in detail. My question is, which one do you prefer : BTC or FIAT? If you want bitcoin has same value, then bitcoin will not famous like now because they don't have an advantage in terms of nominal.

1 bitcoin = 1019.74 $. From here we can see that bitcoin is more valuable than Fiat, are even more expensive than gold. No different if we call bitcoin as a currency. The potential to collect bitcoin far more numerous and open to everyone, because it is able to have its own market and there is no government policy intervention, nothing could stem bitcoin.
Bitcoin is more valuable than fiat in terms of price but in terms of usefulness I doubt bitcoin can ever compete with fiat. The price is not the main basis to determine how valuable it is, as you have witnessed, bitcoin is not stable enough and there is no support yet coming from the government which would give a hint that it will be the next big thing.

Comparing the users of fiat and bitcoin, we can already tell which is more valuable and I know it's obviously fiat, at least for now

This comparison makes no sense altogether

You can say that fiat has more utility than Bitcoin overall, and that I will likely agree with. But you can't possibly say that fiat is generally more valuable than Bitcoin since for a every individual the value of Bitcoin as well as fiat (say, the US dollar) is different. And in reality, things are even more complicated than that since for a every individual different amounts of Bitcoin and the US dollars will have different value. For example, if you have plenty of Bitcoins but desperately need dollars (for whatever reason), you will value the latter higher and likely try to convert some of your bitcoins into fiat. Obviously, this works the other way as well

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February 17, 2017, 09:13:04 PM
 #854

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 can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.
yes currently bitcoin is uses as investment and for trading and is also used as online currency online shopping and trading. but i think in future when the user so bitcoin will increase then bitcoin will certainly be use for currency in all local shops and shopkeepers will accept bitcoin

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February 17, 2017, 09:35:18 PM
 #855

The most obvious difference from real money and bitcoin is when we use for transacting. If we send money with real money so it takes a long process and the cost is high, but after the presence of bitcoin then everything becomes a fast, effective and cheap.
Technically if you see in terms of sending money bitcoin and cash both are same , rhe reason for this is pretty simple no one is gonna sell you bitcoins for cash without any fees so if you convert cash to btc the fees is kind of lot. So now you somehow got bitcoin and you send it now you want to convert that bitcoin to cash which is another headache. We do tell that bitcoin can be send easily ,bitcoin is better than western union etc but it is all same we pay the fees somewhere for sure. This can be minimised in some countries where people are awarw of bitcoin but in general it's useless.

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February 17, 2017, 10:34:10 PM
 #856

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?

First thing bitcoin can't be compared to real money because bitcoin itself is technical stock.Unlike real money bitcoin price isn't stable and can be manipulated by big players.Any real world currency is backed by bank and have stable price butbitcoin is neither backed by any bank or govt neither is has stable price.
The prices of currencies around the world are not stable either, every day the value of fiat moves the difference is the price swings in bitcoin are bigger also while the price of bitcoin can be manipulated that is not something unique to bitcoin since that happens to fiat, stocks gold and almost anything, bitcoin is young as it gains more adoption and more time pases then we will see a greater price stability.



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February 17, 2017, 10:41:02 PM
 #857

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?


To me, the most important difference between bitcoin and real money is decentralized structure. Apart from this, we already have a digital structure in the money we use. We buy everything online.

Bitcoin price fluctuations are much higher than other investment tools if we look at them from an investment point of view. We can be make money by using price fluctuations.

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February 17, 2017, 11:36:51 PM
 #858

Bitcoin is virtual money and doesn't have the same value of money

Bold statement very bold, if you think like this that bitcoin dont have same value as money then i will buy all you coins for 1 dollar each.
You see how thing can turn around bitcoin is freedom of money.
I think it's obvious that bitcoin in value $ 1,000, for a temporary rate. how can you say that bitcoin has no value?
yeah what if I buy your bitcoin for 1 dollar per coin Lol

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February 18, 2017, 04:46:03 AM
 #859

for me  bitcoin have more function . bitcoin can easily buy online.but  the real money was easily using in reallife!
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February 18, 2017, 05:29:52 AM
 #860

for me  bitcoin have more function . bitcoin can easily buy online.but  the real money was easily using in reallife!
So are you telling that you are using bitcoin to do all the transactions online and fiat is used in real life and do you think that online purchase is different than real life purchases.  Tongue With time we would be able to spend bitcoins like fiat currency.
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