Difference between Bitcoin and real money?

[MMA]

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 cryptocurrency that we can earn thru online so when you dont have an internet connection you cannot earn while real money is the physical money in your wallet you need to get a job to earn money. the similar to them is ,they can be both steal and can be bigger if you are wise.

Although it is a online currency and mostly used by the people as for online purposes, but when the users of bitcoin will increase then it will also be use as fiat in local shops, because in some places people are already using it for online purposes and specially in such areas where the users are more and where the shopkeepers have also good knowledge about bitcoin, and therefore they are accepting bitcoin for shopping in their shops.

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[Text]

Bitcoin is just like the real money because you use it in doing transactions either offline or online because it just need an internet so if you are doing transaction in person then you just need some internet or load in your cellphone and then you can transfer money in just a click. I think the only difference of bitcoin and the real money is it's virtual while the real money is more on physical but bitcoin is more secured than real money while most of the people that i know still preferred bitcoin over real money.

How did you say that you can make a transaction offline if it needs internet? You can only buy and sell of BTC if you are connected to the internet so bitcoin is only for online transactions. I beg to disagree that people are more preffered bitcoin over real money, that is not true. Still many people in the world is unaware of cryptocurrency.

[Reid]

Bitcoin is just like the real money because you use it in doing transactions either offline or online because it just need an internet so if you are doing transaction in person then you just need some internet or load in your cellphone and then you can transfer money in just a click. I think the only difference of bitcoin and the real money is it's virtual while the real money is more on physical but bitcoin is more secured than real money while most of the people that i know still preferred bitcoin over real money.

How did you say that you can make a transaction offline if it needs internet? You can only buy and sell of BTC if you are connected to the internet so bitcoin is only for online transactions. I beg to disagree that people are more preffered bitcoin over real money, that is not true. Still many people in the world is unaware of cryptocurrency.

A big percentage of the population don't really know it.
They would even say what the hell is that.
Fiat is still has number one usage when it comes to person to person trading or buy and sell and that cant be changed for a long time.
I guess the next one would be credit card.
Bitcoin is way different than fiat. Try to buy something on the street if you can buy it with bitcoin.

[deisik]

Bitcoin is just like the real money because you use it in doing transactions either offline or online because it just need an internet so if you are doing transaction in person then you just need some internet or load in your cellphone and then you can transfer money in just a click. I think the only difference of bitcoin and the real money is it's virtual while the real money is more on physical but bitcoin is more secured than real money while most of the people that i know still preferred bitcoin over real money.

How did you say that you can make a transaction offline if it needs internet? You can only buy and sell of BTC if you are connected to the internet so bitcoin is only for online transactions. I beg to disagree that people are more preffered bitcoin over real money, that is not true. Still many people in the world is unaware of cryptocurrency

You are not quite correct on this

It is still possible to transact using bitcoins without Internet access. There are USB sticks (called Opendimes, there is a thread about them somewhere around here) which allow secure transfer of money completely bypassing the blockchain. Though it is not very handy overall (and likely even cumbersome), but if you don't want to leave a footprint on the blockchain (for whatever reason), that may be a viable option after all. In this way, Bitcoin is used pretty much like cash, i.e. in hand-to-hand transactions, and you don't need Internet to confirm them (just to check the balance if you don't trust your counterparty)

[raven7886]

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 cryptocurrency that we can earn thru online so when you dont have an internet connection you cannot earn while real money is the physical money in your wallet you need to get a job to earn money. the similar to them is ,they can be both steal and can be bigger if you are wise.

It is true that the exchange rates of fiat are not fixed but they are also not unstable like the bitcoin is, the price of the bitcoin could change at any time and for no reason at all, but the fiat prices take a long time to drop or to go up and with a small amount and if they do change they change for a reason because they are controlled by the governments.

[dearbesz1219]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

[panopotty]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

i cant go into a store in Paris and offer US $ either UNLESS they accept it
So in your reasoning USD is not real money

[CoinFoxs]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

There are many stores where bitcoin is accepted as a direct payment method, and your second point is true that bitcoin is decentralized, no central power is there to control bitcoin while real money is controlled by government.

[Drago2016]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

There are many stores where bitcoin is accepted as a direct payment method, and your second point is true that bitcoin is decentralized, no central power is there to control bitcoin while real money is controlled by government.

Yes, I agree with you. I think that the main difference between the currency of the decree and the cryptocurrency is that the cryptocurrency is not under the control of the government. No one can control it. And the fiat currency is controlled by the government that issued it

[azguard]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

Technically its true but there is a catch with dollar euro or some other currency, for example if you go in greece, you can use euro to pay i must convert my country money to euro same goes for British people who are coming cuz they convert pound to euro, so for bitcoin goes the same if you transfer it to money (euro, dollar, pound, yen....) you can use it anywhere so they are technically the same.

[Watershin]

Only difference i can think of right now is that bitcoin can not be controlled by government and in case of real money/ paper money, government does have the power to print any amount as in case of the post world war effect in Germany, where people had to take heaps of cash to buy even a small thing such as a piece of bread.

[Blitzboy]

Only difference i can think of right now is that bitcoin can not be controlled by government and in case of real money/ paper money, government does have the power to print any amount as in case of the post world war effect in Germany, where people had to take heaps of cash to buy even a small thing such as a piece of bread.

Yes, that is one of the important features which Bitcoin has provided to use. We can easily control Bitcoin without depending on any third party or even the government. Moreover, bitcoin provides us ths opportunity to be anonymous while transfer our property p2p. That is why Bitcoin was first used by the Hackers

[traderethereum]

Only difference i can think of right now is that bitcoin can not be controlled by government and in case of real money/ paper money, government does have the power to print any amount as in case of the post world war effect in Germany, where people had to take heaps of cash to buy even a small thing such as a piece of bread.

Yes, that is one of the important features which Bitcoin has provided to use. We can easily control Bitcoin without depending on any third party or even the government. Moreover, bitcoin provides us ths opportunity to be anonymous while transfer our property p2p. That is why Bitcoin was first used by the Hackers

but if many people is know about bitcoin, i think they can decide to use bitcoin than their money because i think when they want to spend bitcoin, they don't have to carrying something in their pocket and they only carrying their android phone and they can make transaction with this but this is only if offline store is available. the big difference between bitcoin and real money is from the physical form and we know that bitcoin is exist but don't have physical form and its different than money.

[bitllionaire]

Bitcoin is just like the real money because you use it in doing transactions either offline or online because it just need an internet so if you are doing transaction in person then you just need some internet or load in your cellphone and then you can transfer money in just a click. I think the only difference of bitcoin and the real money is it's virtual while the real money is more on physical but bitcoin is more secured than real money while most of the people that i know still preferred bitcoin over real money.

How did you say that you can make a transaction offline if it needs internet? You can only buy and sell of BTC if you are connected to the internet so bitcoin is only for online transactions. I beg to disagree that people are more preffered bitcoin over real money, that is not true. Still many people in the world is unaware of cryptocurrency.

A big percentage of the population don't really know it.
They would even say what the hell is that.
Fiat is still has number one usage when it comes to person to person trading or buy and sell and that cant be changed for a long time.
I guess the next one would be credit card.
Bitcoin is way different than fiat. Try to buy something on the street if you can buy it with bitcoin.

i think the number of bitcoin users are continuously increasing and hope very soon all the people of the world will know about bitcoin and they will also understand the importance of bitcoin, and they will also invest their money there. but still it will take a lot of time because a very little number of people still know about bitcoin.

[mastermold]

Bitcoins Are Independent

Normal currencies all over the world are controlled by a central bank in each country. This means that every aspect of the normal currency is highly influenced by the bank. These aspects include the inflation rates, the amount of currency to be printed as well as the interest rates. However, this particular system does not work with bitcoin as it is not controlled by a particular regulating body.

Bitcoins are independent or what they term as decentralized, thus they are not controlled by the government or financial agencies. The absence of a central entity that controls bitcoins means that the bitcoins can be distributed in a powerful and resilient peer-to-peer network. It can also be transferred from bitcoin users to other users located across the globe without any problems.

There are many critics that claim that bitcoin will fail because of the fact that it is not backed by any regulating body. However, the irony with this claim is that bitcoin seems to perform better year after year. Moreover, it is also not burdened by financial reporting requirements thus contributing to the strong value of bitcoins.

[deisik]

Bitcoins Are Independent

Normal currencies all over the world are controlled by a central bank in each country. This means that every aspect of the normal currency is highly influenced by the bank. These aspects include the inflation rates, the amount of currency to be printed as well as the interest rates. However, this particular system does not work with bitcoin as it is not controlled by a particular regulating body.

Bitcoins are independent or what they term as decentralized, thus they are not controlled by the government or financial agencies. The absence of a central entity that controls bitcoins means that the bitcoins can be distributed in a powerful and resilient peer-to-peer network. It can also be transferred from bitcoin users to other users located across the globe without any problems.

There are many critics that claim that bitcoin will fail because of the fact that it is not backed by any regulating body. However, the irony with this claim is that bitcoin seems to perform better year after year. Moreover, it is also not burdened by financial reporting requirements thus contributing to the strong value of bitcoins

I haven't heard much from such critics

Did you think them up yourself? Regarding your other points, lack of a regulating entity somehow didn't prevent Bitcoin from being heavily centralized in respect to mining. In fact, any way you look at it, as of now Bitcoin is far from being "distributed in a powerful and resilient peer-to-peer network". Such figures of speech might have made some sense some five years ago but nowadays they have become dull and boring. There is no substance behind them

[carlerha]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

to me i think the only difference is that bitcoin is virtual currency, while bitcoin is fiat currency, but still in some places bitcoin can also be use as fiat currency where the number of bitcoin users are more.

[21kevin21]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

to me i think the only difference is that bitcoin is virtual currency, while bitcoin is fiat currency, but still in some places bitcoin can also be use as fiat currency where the number of bitcoin users are more.

Fiat is more stable than bitcoin, and to think only how traders need to adjust the prices for the goods so that bitcoin matches the price of the goods. This introduces some difficulties for businesses in retail stores.

[muddafudda]

So even though Bitcoin does not have a material look it is much more real than the 00 and 11 of your bank account.
However the biggest difference between Bitcoin and Virtual Money is that there is only one way it can be created. Through mining, that is, rewarded those who guarantee that no Bitcoin will be transferred to someone without its existence being proven. Bitcoin's existence is not only secure but limited.

[mobilestrike]

The difference between bitcoin and dollar or real money? bitcoin cannot be use physically in the public stores outlet, unless the merchant business owner is accepting bitcoin as payment but most of the realy money was often to used. and bitcoin was decentralized that's why many of the community like it so much due to none of the biggest bank and government don't have the power to control bitcoin unlike the real money like USD , EURO and others are centralized.

to me i think the only difference is that bitcoin is virtual currency, while bitcoin is fiat currency, but still in some places bitcoin can also be use as fiat currency where the number of bitcoin users are more.

Fiat is more stable than bitcoin, and to think only how traders need to adjust the prices for the goods so that bitcoin matches the price of the goods. This introduces some difficulties for businesses in retail stores.

yes fiat is more stable than bitcoin the reason is that fiat is already established currency and it is regulated the same everywhere while bitcoin is not yet fully established and its use is still not the same everywhere but sometimes the use in increased and sometimes decreased that is why bitcoin is not stable. So that is not distinguishing bitcoin from fiat.