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Author Topic: Is Bitcoin Sound Money?  (Read 28032 times)
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March 20, 2017, 08:09:44 PM
 #121

Bitcoin is indeed sound money just like other fiats because I get paid whenever I render services in Bitcoin just like my full time job pays me fiat at the end of the month and have the feeling it is sound money.



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March 20, 2017, 08:21:42 PM
 #122

for me bitcoin is money, because i can use it to buy things and i can do transaction with it, and if somebody ask "is there are any similarity with gold or other precious metal?", i dont think so, but as an investment bitcoin is a good option, but to compare it with gold, I think its two different things
Bitcoin is more than Monet because it is decentralized! Money has a legal backing by the government and it is issued by a centralized monetary body. Bitcoin is generated by the miners and it can be mine by any body who have access to tools needed for mining.

Yes, bitcoin is absolutely money. i tell one best thing about this is, whatever we get in exchange is nothing but a kind of money. with little conversion we are able to use the btc in the same way as money. some of the places where btc is accepted, online stores and all. BTC is very good platform and it is best form of money.


Agree with the fact that bitcoin is actually a money. but the drawback is we need to convert it and then we have to use which is a difficult task. not all places btc is accepted and infact some people don't know what btc is. we have to take some little initiative that people get to know more about btc to see more places it is accepted rather than the money. 
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March 22, 2017, 06:11:21 AM
 #123

Bitcoin is really a true currency/money. Why? because once you have it you can convert into a real money according to country you belong. And the banks also accepting bitcoin whether you are in different places of the world. In that case it shows how bitcoin is very popular in online business.


So in your opinion Bitcoin is money because you can convert into "real" money???!!! WTF??!!!
That doesn't make much sense! Furthermore all the nations paper crap is currency!Not money!Big difference!
Money mostly holds value, while currency is losing it!
Bitcoin is money because you can buy goods and servics with it! That's all!And nothing more is needed!
Shells could be money as well if other people would accept that and give you food for it in exchange.
Agreed! as long as you can use it to buy anything whether things, goods, foods and etc. And bitcoin is not accepted by any banks that's what I know it is because of the merchants who accepted bitcoin is the reason why we are able to transfer money into our bank account.

















































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March 23, 2017, 10:55:29 AM
 #124

I don't think bitcoin is money at least for right now, because bitcoin can not be used for small transaction
 payment like payment of a cup coffee because of the high fees transaction, bitcoin is sounds like gold because
it can be mined by asic hardware and the gold be mined too.
You do have a point but bitcoin can be considered as money since it do have value even though it isnt been considered by most government to be legalized but still it can be spend by exchanging it to local fiat and you are right it cant be spend directly your bitcoin to shops since the adoption isnt on its full extent.
Just couples stores that accept bitcoin for payment method, doesn't mean bitcoin is money,
 how about block size of bitcoin? Do you think bitcoin is suitable for a little transaction, of course not.
Bitcoin is not money because it is not good for a little amount transaction because of high fees.
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March 23, 2017, 11:07:18 AM
 #125

The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered mainstream discussion among increasingly interested investors. Gold has been used as a form of currency and trade for thousands of years, and certainly has a track record for reliability and preservation of wealth. However, as the newcomer onto the scene, bitcoin may be the kind of financial and technological breakthrough to to challenge gold as the monetary kingpin.

Early on in its life cycle, seasoned investors began questioning the legitimacy of bitcoin value and debating how such a commodity could hold intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.

Which factors of bitcoin instill this validity of investment?

Watch Video

 Bitcoin isn't actually money. The whole discussion for Bitcoin compared to Gold is really a no-brainer if the person looked in between the lines.
Gold has been around for a very long-time and people was using it for money back then as well.
Bitcoin wasn't around until close to 8 years ago. Bitcoin started off with no value and when people tried to put some value by allowing people to pay for digital things, nobody really wanted any Bitcoins for them (or the person with Bitcoins didn't really want to spend them).

Gold has many transactions, Bitcoin doesn't.
Gold is actually money and Bitcoin isn't.

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March 27, 2017, 01:44:17 PM
 #126

The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered mainstream discussion among increasingly interested investors. Gold has been used as a form of currency and trade for thousands of years, and certainly has a track record for reliability and preservation of wealth. However, as the newcomer onto the scene, bitcoin may be the kind of financial and technological breakthrough to to challenge gold as the monetary kingpin.

Early on in its life cycle, seasoned investors began questioning the legitimacy of bitcoin value and debating how such a commodity could hold intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.

Which factors of bitcoin instill this validity of investment?

Watch Video
Comparing gold with bitcoins is absolutely valid as the prices of both keep on changing.
If one day it's more the other day it might be less. But no doubt gold is always a better option.
As you can sell it and get paper currency which is widely used. Whereas bitcoin is used only in some places (sites).
See I don't think that comparing bitcoin with gold is,
 at all a valid comparison.
I mean they are two totally different forms of investment.
Even though they are similar ,
But they are altogether different.
So you can't compare bitcoin with gold at any case.
Gold cam be used as a physical resource but bitcoin can't .
Whereas the rate of growth of gold is not as fast as That
Of bitcoin.
So bitcoin and gold are two totally different things with different assets and liabilities.
So they can't​ be compared.

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March 27, 2017, 02:28:21 PM
 #127

The arguments over bitcoin and gold isn't over yet where if you are rich you can go over the gold but when you are small time earner you will choose over bitcoin is bitcoin always sounds money for me . Where i can assured my income every month without loosing big in trading and investment.



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May 02, 2017, 11:19:51 AM
 #128

Yes for me it perfectly sounds money. I do not have any problem with bitcoin and I can easily use it as money and can exchange it to any other currency and I can use it all over the world to buy any thing from any shop.

We're hoping for that to happen, currently we can't use it anywhere we want. It needs the internet and how people know about Bitcoin in that particular area. Some can say that they don't have problem in exchanging BTC to fiat but some really have some difficulties in exchanging it and convert it to fiat and that includes me too. The development of it is still ongoing and we're taking the steps slowly as Bitcoin rise to the top.



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May 02, 2017, 11:29:49 AM
 #129

In my own opinion when i first heard bitcoin it really sounds like money because from the word "coin" in "bitcoin" it sounds money. For others users of bitcoin, bitcoin is a real money but a real money from internet or an internet money.

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SingAlong
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May 02, 2017, 02:03:03 PM
 #130

Yes for me it perfectly sounds money. I do not have any problem with bitcoin and I can easily use it as money and can exchange it to any other currency and I can use it all over the world to buy any thing from any shop.


We're hoping for that to happen, currently we can't use it anywhere we want. It needs the internet and how people know about Bitcoin in that particular area. Some can say that they don't have problem in exchanging BTC to fiat but some really have some difficulties in exchanging it and convert it to fiat and that includes me too. The development of it is still ongoing and we're taking the steps slowly as Bitcoin rise to the top.
In our country we have this leading Bitcoin bank or what it really calls but sounds like that and this has a lot of partners which we can just get our bitcoin converted to fiat to some banks and convenient stores. I've shared this so that to some countries can adapt this and its a good thing for everyone. Bitcoin as a convenient way to earn money needs a system that is also convenient to use so we can avail it easier and faster.

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May 02, 2017, 04:55:45 PM
 #131

Bitcoin is indeed sound money just like other fiats because I get paid whenever I render services in Bitcoin just like my full time job pays me fiat at the end of the month and have the feeling it is sound money.
BItcoin is beyond money. And as you can see, we can now use Bitcoin almost everywhere since many people and sellers starts accepting Bitcoin as a type of payment, Steam is also use Bitcoin for 2 years

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May 02, 2017, 06:58:19 PM
 #132

In my own opinion when i first heard bitcoin it really sounds like money because from the word "coin" in "bitcoin" it sounds money. For others users of bitcoin, bitcoin is a real money but a real money from internet or an internet money.

Why most of the people believe that bitcoin is only a payment medium for internet only? There are places, at sure not many, where someone can buy things e.g electronics, eat in restaurants or buy everyday things using his bitcoin wallet. So it's real money, Isn't it?
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May 03, 2017, 01:36:23 AM
 #133

Bitcoin is indeed sound money just like other fiats because I get paid whenever I render services in Bitcoin just like my full time job pays me fiat at the end of the month and have the feeling it is sound money.
Agree, I think there is no difference in money with bitcoin, both of which can be used for the transaction and buy anything, users also continued to rise and bitcoin from all countries thus the bitcoin better than real money.

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Lady Coquet
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May 03, 2017, 02:00:20 AM
 #134

In my own opinion when i first heard bitcoin it really sounds like money because from the word "coin" in "bitcoin" it sounds money. For others users of bitcoin, bitcoin is a real money but a real money from internet or an internet money.
Indeed your right bitcoin is really sounds money because from the word coin in bitcoin. Bitcoin can be used to buy things that you wanted and you can pay all your bills just like a real money does. But you can only earn bitcoin only in the internet so it consider as a internet money.

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May 03, 2017, 06:52:36 PM
 #135

Bitcoin is indeed sound money just like other fiats because I get paid whenever I render services in Bitcoin just like my full time job pays me fiat at the end of the month and have the feeling it is sound money.
Agree, I think there is no difference in money with bitcoin, both of which can be used for the transaction and buy anything, users also continued to rise and bitcoin from all countries thus the bitcoin better than real money.

Bitcoin is definitely better then real money as its value keeps on going higher and higher in future and that is not possible with fiat money as inflation will depreciate its value which will not benefit people in long term.

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May 03, 2017, 07:51:23 PM
 #136

Yeah bitcoin sounds money to me as I am buying everything with it what I used to buy with fiat money no doubt we need to convert it to fiat first to spend it but after all its taking care of our expenses and other stuffs so its a real money for me.

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May 20, 2017, 08:31:44 PM
 #137


For me bitcoin is money I can do transaction or buy something with bitcoin, investment in bitcoin also good idea.
you can't comparing with gold it is different things.

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May 20, 2017, 09:05:10 PM
 #138

For everyone here, bitcoin is money and a type of investment which you can earn a good amount of money with it. Moreover, to some ITs and technological geeks, Bitcoin is a revolution to a new kind of money and a new way of developing a whole money system on the internet. Therefore, Bitcoin is much more than just a simple currency

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May 20, 2017, 09:10:45 PM
 #139

For everyone here, bitcoin is money and a type of investment which you can earn a good amount of money with it. Moreover, to some ITs and technological geeks, Bitcoin is a revolution to a new kind of money and a new way of developing a whole money system on the internet. Therefore, Bitcoin is much more than just a simple currency
Here I completely agree with you and the fact is that it's really so that Bitcoin is a way to make money And most of the users are doing this, even without knowing, about the technology that allowed to create a crypto currency.
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May 20, 2017, 09:32:43 PM
 #140

Hey we all get to say we were there in the beginning when bitcoin was only $2000! How cool is that!
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