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Author Topic: Difference between Bitcoin and real money?  (Read 110686 times)
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February 21, 2017, 03:36:28 PM
 #901

Bitcoin and real money is different. Although both are currency, bitcoin is a digital currency and mainly used to buy things online. Bitcoin also easier to store in a large amount than real money. Bitcoin does not require users to pay tax and bitcoin provide anonymity for it's transaction. And the fact that bitcoin value has such a fluctuation add the difference between them.
How could it be easier to store such a big amount of bitcoin than fiat money? I do agree that keeping bitcoin in wallets is convenient and doesn't take up much space, but it's hard to maintain the same value over time. Bitcoin fluctuates every single second, sometimes it's too small to notice but most of the time, it would rise or drop dramatically, so either you will get a bunch of profit out of it or you're just gonna lose half of it.

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February 21, 2017, 03:59:05 PM
 #902

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
You are right, man. bitcoin is a cryptocurrency, You should to convert it in real money to buying real stuff. as you said this is the main difference. By the way there is more differences, For exemple, bitcoin price is more higher than any real currancy in the world, also Transactions is more secure. sometimes without paying fees. So you can control bitcoin easy in the internet. Anyone cannot be able to track your transactions, I mean anonymity transactions.

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February 21, 2017, 07:56:35 PM
 #903

Too many facts. Bitcoin is safe, easy to transfer, low inflation, decentralized.

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February 21, 2017, 09:34:07 PM
 #904

Real money is not in your control.
Real money has high transfer fees.
Real money is not safe.
The real money has a central structure.
...

Bitcoin is a system that removes all these negatives.
But for real money, I can buy the same product for a certain amount today and tomorrow or the day after tomorrow. And it could make even a few days ago. A bitcoin today one price, but tomorrow it could be much lower. Therefore, there are many pros and cons of using only bitcoin as a main currency.
Prices change when you use fiat too, you may have noticed when you buy groceries that sometimes sometimes some of the products you want to buy are more expensive, if that is an imported product then there is the possibility the products is more expensive due to the exchange rate of the currencies.



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February 21, 2017, 09:50:50 PM
 #905

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
I do not see difference between bitcoin and fiat (real money). The difference is just in that bitcoin is decentralized and bitcoin is still not accepted in everywhere like fiat. But bitcoin is spreading over the world and I have heard about some tryings of it's centralizing.

   
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February 21, 2017, 09:58:10 PM
 #906

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.

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February 21, 2017, 11:32:35 PM
 #907

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.
well but still if you need to shop in an ordinary shop that you go to every single day then you would actually need to convert it into the fiat, and i think online exchange is the best way for that.


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February 22, 2017, 01:15:44 AM
 #908

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.
It never guarantees, when you say profit then one side there are opportunities to lose. Although user bitcoin on the rise, but it will never replace a fiat money. and in my country have not many know bitcoin.

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February 22, 2017, 01:22:17 AM
 #909

There are s o many differences between bitcoin and fiat currency. The characteristic is different. Bitcoin is not controlled by any authority whereas fiat currency is controlled by government and a central bank. Fiat currency is also backed up by an asset like gold but bitcoin is backed by public trust only. this is the main difference.

That is the reason why many people are still reluctant in taking bitcoin for real life transactions. However, bitcoin is the best investment which can offer far greater return than any other conventional investment present in today's market.

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February 22, 2017, 01:53:57 AM
 #910

Bitcoin is an exchange currency that holds value for each and every country with little to no fees... Fiat can only be used in the originating region unless using a payment provider or credit.

Both have exclusive economies with integration for alt-coins (BTC) and foreign countries (Fiat.) the more one looks into either option, jumping into both should end as the outcome to ensure a diversified portfolio. The thing with fiat is that the conversion and adoption of many tier 1 monetary policy opens it to having extended use across the globe in almost every investment vertical.

It seems both are attractive, but the potential lies with cryptocurrency... There's still more yet to come.

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February 22, 2017, 10:19:04 AM
 #911

Bitcoin and real money is different. Although both are currency, bitcoin is a digital currency and mainly used to buy things online. Bitcoin also easier to store in a large amount than real money. Bitcoin does not require users to pay tax and bitcoin provide anonymity for it's transaction. And the fact that bitcoin value has such a fluctuation add the difference between them.
How could it be easier to store such a big amount of bitcoin than fiat money? I do agree that keeping bitcoin in wallets is convenient and doesn't take up much space, but it's hard to maintain the same value over time. Bitcoin fluctuates every single second, sometimes it's too small to notice but most of the time, it would rise or drop dramatically, so either you will get a bunch of profit out of it or you're just gonna lose half of it.

What i mean by storing here not keeping the money for a long amount of time, but bringing bitcoin whenever you go, sory if i worded it wrong english isn't my first language. It's easier to store like 100 btc in a wallet rather than a suitcase full of cash. Of course we should think about another factor like security etc. I agree that bitcoin fluctuates too much that's it can be profit or loss.

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February 22, 2017, 10:19:24 AM
 #912

Too many facts. Bitcoin is safe, easy to transfer, low inflation, decentralized.

That's the advantage of bitcoin with real money but let's don't set aside that there are also disadvantage with bitcoin that people are saying. And one of it is that many are saying that it is being used by very few people and the price of it is being manipulated by many whales which is somehow true. But bitcoin will be the best investment for me.

Well it was most of that things, today we face issues and those need to be resolved. Else no more newcomers will try it out. Because let's face it waiting days for payments is just to long. Telling or even explaining a newbie about custom fees is just 1 step too much.

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February 22, 2017, 10:44:01 AM
 #913

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.
well but still if you need to shop in an ordinary shop that you go to every single day then you would actually need to convert it into the fiat, and i think online exchange is the best way for that.
I think bitcoin can not be used like real money because only a few merchants are using bitcoin to payment method. unless everyone has adopted bitcoin. Of course you do not have to convert it to a fiat. and can use bitcoin like using real money

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February 22, 2017, 12:18:47 PM
 #914

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.
well but still if you need to shop in an ordinary shop that you go to every single day then you would actually need to convert it into the fiat, and i think online exchange is the best way for that.
I think bitcoin can not be used like real money because only a few merchants are using bitcoin to payment method. unless everyone has adopted bitcoin. Of course you do not have to convert it to a fiat. and can use bitcoin like using real money
We cant really use it since bitcoin is not still considered globally and not been recognize by most government on the world which means it do still remain to its place. Adoption is on progress but it would depend on people or government would decide to accept it on the future.

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February 22, 2017, 01:00:27 PM
 #915

I have found Bitcoin few months back. Bitcoin is a currency. It's convert to real money.If we wanna use it like buy something real thinks then it's need to convert to real money. Here the main difference between bitcoin&real money.
Now you do not need convert Bitcoin to fiat money because bitcoin is acceptable in some countries like as fiat in local shop and profitable for you if you keep your money in bitcoin.
It never guarantees, when you say profit then one side there are opportunities to lose. Although user bitcoin on the rise, but it will never replace a fiat money. and in my country have not many know bitcoin.

Not only in your country but many countries bitcoins are not yet popular, and many people don't know about it. But if you're talking about investing then all investments will have some risk of losing your money so you should diversify your funds and don't invest all your money in any one asset class. For me, bitcoin is just an investment, and I sell bitcoins when I need some money but need to pay some small fee to convert it to fiat in my country.

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February 22, 2017, 01:06:46 PM
 #916

bitcoin is not accepted by many institutions because they says that bitcoin is just a digital value exchange medium and we can regard bitcoin as a digital asset instead of money so this is what they says about bitcoin but some believe that it is actually a money because we can pay with bitcoin to get something but real money is real money for all and for ever.
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February 22, 2017, 01:28:06 PM
 #917

Too many facts. Bitcoin is safe, easy to transfer, low inflation, decentralized.

That's the advantage of bitcoin with real money but let's don't set aside that there are also disadvantage with bitcoin that people are saying. And one of it is that many are saying that it is being used by very few people and the price of it is being manipulated by many whales which is somehow true. But bitcoin will be the best investment for me.

Bitcoin users increases every year, it shows good progress for future. Reasonable price manipulation had occurred in trading market, this is a good trend to establish a competitive price, because many people are taking advantage of difference price. Bitcoin trading volume is not as big as FIAT, but we can take advantage every day.

bitcoin is not accepted by many institutions because they says that bitcoin is just a digital value exchange medium and we can regard bitcoin as a digital asset instead of money so this is what they says about bitcoin but some believe that it is actually a money because we can pay with bitcoin to get something but real money is real money for all and for ever.

Many official institutions still don't understand what it's virtual assets. They only refer to government policy so didn't dare to engage more formally to bitcoin.
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February 22, 2017, 01:40:02 PM
 #918

there would be 21 million bitcoins only in circulation but there is no upper limit to circulation of real money.government of the country will decide how much paper currency it wants to circulate in the world
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February 22, 2017, 01:43:01 PM
 #919

I think so much that distinguishes between real money and bitcoin. transactions using real money, I think is happening so fast, because it occurs directly. today, bitcoin transaction to be so slow. so, it is one difference.
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February 22, 2017, 02:08:37 PM
 #920

I think so much that distinguishes between real money and bitcoin. transactions using real money, I think is happening so fast, because it occurs directly. today, bitcoin transaction to be so slow. so, it is one difference.

Well the main item where Bitcoin is different is because it is virtual and you can't touch it, while any other currency can be touched.
The other aspects are; anonymity, speed etc.
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