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Author Topic: Difference between Bitcoin and real money?  (Read 113866 times)
glanmarc
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October 30, 2017, 10:54:09 AM
 #1781

BitCoin is a type of money.

Money is a term used by economists for something that does three things (which I'll briefly explain in a moment):

A store of value
A medium of exchange
A unit of account

BitCoin meets all three conditions -

You can acquire some and keep them, and they'll still be worth what they used to be (in the same way that a dollar is still worth a dollar, not that it'll still buy what a dollar used to.) That is to say, it's a store of value.
You can buy things with them. Not everyone will accept them, but you're probably going to have better luck finding someone to sell you a laptop for BitCoins than you are for Zim Dollars, despite the fact that Zimbabwe has a government.
You can price things in them, and they are fungible - that's to say that your BitCoin and my BitCoin are worth the same as each other. It's not like trying to trade in, say, oil paintings - people might accept a given Rembrandt for a given Picasso, but no-one would say "you can have my Turner seascape for (any) three Picassos." This makes them a unit of account.


To be a successful type of money you need a lot of people willing to accept them.

Some types of money do this by having one or more governments saying you have to accept them as payment for a debt. (That's subtly different from have to accept them - if you offer me a dollar bill for a Mars Bar, I'm under no obligation to accept your dollar bill... But if I meet you in the street and say "Heh, Jack, what about that dollar you owe me", I'm not allowed to turn down the two 50c coins you offer me.) This property is called "legal tender." BitCoin doesn't have it...

... but in most parts of the world, nor does the US Dollar, nor the Euro, Yuan, Yen, or Swiss Franc.

BitCoin is a type of money less widely accepted than, say, the US dollar, but more widely accepted than, say, the Vatican Lire was in 2001.



 Yes, the Vatican used to have its own currency. In 2002, it adopted the Euro, and still mints its own.
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October 30, 2017, 11:07:23 AM
 #1782

The first difference between Bitcoin and real money is on the basis of their usage .Bitcoin is used for online transactions and real money is used for ofline transactions.The other difference between them is on the basis of their acceptance .Real money is accepted all over the world but Bitcoin have some acceptance issues in many countries.Bitcoin is decentralized in nature and real money is centralized in nature.The investments provided by Bitcoin are more profitable than the investmemts provided by real money .Bitcoin is a modern form of currency but real money is traditional form of currency.

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October 30, 2017, 11:20:28 AM
 #1783

The most fundamental difference of bitcoin and real money is its shape. real money in the form.
while bitcoin have a digital system that is not visible. but both have in common is both used as currency.
both have a value that can be used for life.

And bitcoins system although new and the pioneer of its kind is proven to be secured that results to people seeing it as worthy for long term investments. Even though its value keeps changing we all know that it is still getting high and reaching green markets breaking its own record year after year. Unlike cash which almost impossible by itself to be used as an investment instead investors buy prospects and trends that is good for investments to convert their cash into.

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October 31, 2017, 04:29:27 PM
 #1784

The most fundamental difference of bitcoin and real money is its shape. real money in the form.
while bitcoin have a digital system that is not visible. but both have in common is both used as currency.
both have a value that can be used for life.

And bitcoins system although new and the pioneer of its kind is proven to be secured that results to people seeing it as worthy for long term investments. Even though its value keeps changing we all know that it is still getting high and reaching green markets breaking its own record year after year. Unlike cash which almost impossible by itself to be used as an investment instead investors buy prospects and trends that is good for investments to convert their cash into.
In my opinion, Bitcoin is the speculation form instead of it is the investment form. A big bubble growth and can keep this bubble in 5-10 years is normal. If you know the bubble of dot-com, you can understand the Bitcoin and cryptocurrecy market just begin its bubble. Wink

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October 31, 2017, 04:49:38 PM
 #1785

The difference between bitcoin and money is its trade. In bitcoin you can only trade it onlone or modeen technological means. On the other hand money is physical trading which means you have to buy needs or needs. It is a means to provide an amount but different in the process.

Well, in bitcoin we can switch it offline if you know the person you are going to sell with your coins. Otherwise, they are the same that bitcoin is being traded by people who do not know who they are trading with. And that's the best difference between the two, bitcoin = digital, fiat = physical.

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October 31, 2017, 06:04:35 PM
 #1786

bitcoin and real money are different, even though both are currency, bitcoin is a digital currency and is mainly used to buy goods online. Bitcoin is also easier to store in large scale than real money. Bitcoin does not require users to pay taxes and bitcoins provide anonymity for the transactions and the fact that bitcoin has fluctuations such as adding a difference between the two. Smiley

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October 31, 2017, 06:33:35 PM
 #1787

There are many differences of bitcoin and real money.. bitcoin you can use it online as alternative real money you can buy anytime there.. in bitcoins you should have too because many other will exchange it fast and instanly in our place.

I agree to you that there are many differences about bitcoin and real money and that is, bitcoin can use online as alternative but in the real money you can buy anytime, anywhere and what you want to buy. The difference on bitcoin and real money is, bitcoin is a digital currency that you can use only online but also can be real money but real money is only a currency which also you can turn to bitcoin but that's so much money to turn it in bitcoin.
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October 31, 2017, 06:50:35 PM
 #1788

There are many differences of bitcoin and real money.. bitcoin you can use it online as alternative real money you can buy anytime there.. in bitcoins you should have too because many other will exchange it fast and instanly in our place.

I agree to you that there are many differences about bitcoin and real money and that is, bitcoin can use online as alternative but in the real money you can buy anytime, anywhere and what you want to buy. The difference on bitcoin and real money is, bitcoin is a digital currency that you can use only online but also can be real money but real money is only a currency which also you can turn to bitcoin but that's so much money to turn it in bitcoin.
Yes, it's true. But you should know that people still prefer use money to Bitcoin cause they can use it worldwide but it's different with Bitcoin. Bitcoin is not legalized worldwide moreover there are some countries banned Bitcoin already so in these countries nobody can be able to use Bitcoin. Beside it's impossible to use Bitcoin when you go outside without your computer and your smartphone but you can use money directly or through a credit card of course computer and smartphone is no needed in this case.
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October 31, 2017, 06:56:34 PM
 #1789

Real money is regulated by the government. While Bitcoin is not, it is decentralized. No one controls Bitcoin. Bitcoin transactions is anonymous. No one can know your identity but can track your address.

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October 31, 2017, 06:59:51 PM
 #1790

The first difference between Bitcoin and real money is on the basis of their usage .Bitcoin is used for online transactions and real money is used for ofline transactions.The other difference between them is on the basis of their acceptance .Real money is accepted all over the world but Bitcoin have some acceptance issues in many countries.Bitcoin is decentralized in nature and real money is centralized in nature.The investments provided by Bitcoin are more profitable than the investmemts provided by real money .Bitcoin is a modern form of currency but real money is traditional form of currency.

Correct. Obviously that is very much the difference and the way it is used is very different from bitcoin, where bitcoin will make it easier for users to transfer money directly, even to the corners of the world, but unlike the real money, we can not send directly, using real money , and we must first send it through the bank, in order to send it and of course it will take a lot of time ..
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October 31, 2017, 07:05:52 PM
 #1791

'Money' and 'currency' should not be used interchangeably. Currency is the money of a given state. In the U.S., it is Federal dollar notes in circulation.
Money is what we use every day to pay our liabilities, and this includes currency and, to a much bigger extent, our bank account balances that provide the source for our check, wire transfer, debit card, and credit card payments.
Then, there is another form of 'currency' that exists in the books of the banks, and is equivalent to Federal notes, yet is 'immaterial'. This is the account balance that a bank can hold at the Federal Reserve Bank of its district, called 'bank reserves'.
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October 31, 2017, 07:25:20 PM
 #1792

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?

You can get high profit if you use bitcoin in investing, much more on gambling but gambling is kinda risky so go for investment. Regarding to the difference of bitcoin and dollars, bitcoin can use by the people who can use gadgets or modern technology while dollar can use by everybody even you don't know hot to use a smartphone or you're poor.

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October 31, 2017, 07:36:12 PM
 #1793


The number of bitcoins is limited - 21 million of them can be produced. Today, no state in the world can print or depreciate them. This is the concept of bitcoin - that it should be money that belongs only to you, which can not be forged and which you can instantly settle with anyone anywhere in the world where there is the Internet.
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October 31, 2017, 07:41:41 PM
 #1794

Real money is more stable then bitcoin. Bitcoin is very unstable it can rise very high and it can fall very hard in a short time. Bitcoin is also online and not in your pocket.

Real money can be in your pocket and you also have a credit card who you have in your pocket most of the time. While bitcoin is online so its harder to steal it.
Yeah both are the form of currency but i think the both are totaly different in current scenerio. 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 but i think it will take almost 10 to 20 years for it to do so..

Yes.FIAT is used for all the money depending currency, and bitcoin is also now accept for transaction like in Amazon. Take a dollar, it price of dollars is similar not vary.In Bitcoin, the price will pump. Bitcoin will replace the $ and the entire currency system. Bitcoin is always better than Money.

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November 01, 2017, 04:06:37 AM
 #1795

I don't really want to say that it's a real money. It is just a fiat currency where people have blind trust in. Many people don't have the real knowledge of its origin. The federal reserve system is built on fraud. Bitcoin on the other hand is transparent. Though many people find it is complex due to the new technology, it is where the future is heading towards. Bitcoin is mined with the usage of electricity where there seems to be a transfer of value.
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November 01, 2017, 04:29:48 AM
 #1796

There's much difference between bitcoin and money. Bitcoin is only usable on internet. you need internet connection with a personal computer.You can buy an sell your bitcoin anytime anywhere . Not everyone accept the bitcoins.On the other hand for money there's no internet connection required neither any device to control it. Everyone can accept it because they're aware about money .
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November 01, 2017, 05:05:46 AM
 #1797

Real money is more stable then bitcoin. Bitcoin is very unstable it can rise very high and it can fall very hard in a short time. Bitcoin is also online and not in your pocket.

Real money can be in your pocket and you also have a credit card who you have in your pocket most of the time. While bitcoin is online so its harder to steal it.
Yeah both are the form of currency but i think the both are totaly different in current scenerio. 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 but i think it will take almost 10 to 20 years for it to do so..

Yes.FIAT is used for all the money depending currency, and bitcoin is also now accept for transaction like in Amazon. Take a dollar, it price of dollars is similar not vary.In Bitcoin, the price will pump. Bitcoin will replace the $ and the entire currency system. Bitcoin is always better than Money.
Amazon? No, I do not remember Amazon has accepted Bitcoin as a payment method in their shop. This is just a rumor and Amazon has confirmed they do not have any decision for Bitcoin at now. However, they do not negate they will accept Bitcoin, but apply it in this year is impossible.

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November 01, 2017, 05:11:04 AM
 #1798

In real money you can have it if you work in real world. In bitcoin you can have it if you are always on the internet and willing to understand and to earn bitcoin.

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November 01, 2017, 05:12:50 AM
 #1799


The number of bitcoins is limited - 21 million of them can be produced. Today, no state in the world can print or depreciate them. This is the concept of bitcoin - that it should be money that belongs only to you, which can not be forged and which you can instantly settle with anyone anywhere in the world where there is the Internet.
I agree with you bitcoin is there limit can not create more and its value will increase rather than decrease.
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November 01, 2017, 05:30:09 AM
 #1800

Real currency value will not increase when compared to Bitcoin. But the price of Bitcoin is completely voltaile, we cannot purchase items without proper acceptances in the shops. We can carry Bitcoin and real cash but the problem problem with the Bitcoin is we need to have proper Internet connection in order to do transactions.

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