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Author Topic: Is Bitcoin Sound Money?  (Read 28008 times)
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June 11, 2017, 02:23:51 PM
 #281

Well from my understanding of sound money it means stable money and judging from the volatility of Bitcoin I don't think it can be considered as sound money because it appreciates and depreciates quite too often due it's lack of central control and regulation.

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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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June 11, 2017, 03:26:34 PM
 #282

Yes bitcoin sounds money because it cost a very big value of money.Thats why many are accepting bitcoin now because you can earn a big salary it is a very good job offer most of all to the un employed people.This is a big opportunity especially to the un employed persons.It gives you a big salary,Once you pursue yourself to work on this kind of job You can see the outcome of your effort in the end of it.
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June 11, 2017, 03:37:10 PM
 #283

Yes bitcoin sounds money because it cost a very big value of money.Thats why many are accepting bitcoin now because you can earn a big salary it is a very good job offer most of all to the un employed people.This is a big opportunity especially to the un employed persons.It gives you a big salary,Once you pursue yourself to work on this kind of job You can see the outcome of your effort in the end of it.

You can only hear the sound of real money in the present life, for bitcoin, it has no sound, but it is extremely high value.

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June 11, 2017, 03:43:50 PM
 #284

It is not just sound money but actually it can be considered as one. I already made payments using bitcoins and it is not just one but several transaction from buying items to paying loads, etc. Nowadays bitcoins had it purposes in the economy widens and can be use in most transaction made worldwide especially those deals that comes in online.
Bitcoin sounds money because it has a value and many people are using it, well in fact in other countries bitcoin has been legalize and some stores out there successfully accepted bitcoin as one of the accepted currency for their payment in every purchased that they make.

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June 11, 2017, 03:44:07 PM
 #285

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.
I also think that is very simple bitcoin does have value that can be used in transaction and i also do agree that it can be converted to fiat for other transaction so I is definitely a money itself but for me it is not just a money it self or sound like money because it is a way better form of money that can be used in transaction with the form of crypto currency.

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June 11, 2017, 03:48:56 PM
 #286

Looking at the features it has got periodically based on the growth happening with respect to time bitcoin is a sound money. Users think this as an online money than giving consideration as a real money. This will change as more people move from traditional fiat towards bitcoin for all transactions.

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June 11, 2017, 04:07:40 PM
 #287

Bitcoin far more complete function than money. As a means of payment, investment tool to seek profit and at the same time as a hedge wealth.

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June 11, 2017, 04:26:35 PM
 #288

Is bitcoin sound money?

It looks like one of the best performing assets of monetary value in the entire world at the moment. I can't believe the speed that we're going up over the last 18 months or so.
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June 13, 2017, 03:28:46 AM
 #289

It really depends on who you ask although today, I'm sure 9 out of 10 people out there won't consider it so. Even among finance people, there is a huge disagreement about crypto in general in terms of it being "sound money". That's not a bad thing for a currency less than 10 years old:)
Of course they are going to think bitcoin Is no sound money, they are so used to their earnings, that they know bitcoin is the greatest threat to them in a long time so it is no wonder they don’t want to recognize bitcoin as sound money anytime soon.
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June 13, 2017, 03:34:59 AM
 #290

Bitcoin has all the tools and uses to sound like money. It's not the perfect currency because nothing is perfect, but it's so far the best currency of this time. Gold is good too, but bitcoin is the best for this moment.
You can use it to buy things, to store like asset, to invest. It's a currency with many uses.

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June 13, 2017, 04:03:31 AM
 #291

Yes bitcoin sounds money because it cost a very big value of money.Thats why many are accepting bitcoin now because you can earn a big salary it is a very good job offer most of all to the un employed people.This is a big opportunity especially to the un employed persons.It gives you a big salary,Once you pursue yourself to work on this kind of job You can see the outcome of your effort in the end of it.

You can only hear the sound of real money in the present life, for bitcoin, it has no sound, but it is extremely high value.
I like what you are saying here. You can not hear anything from bitcoin because it is digital and cryptos can not make any sound. But they do have value on the internet and outside the world. We can buy many things with bitcoin


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June 13, 2017, 04:04:47 AM
 #292

Bitcoin has proven to be sound as gold/fiat currencies if not more sound. It is faster to move arround, it is backing more than 600 other cryptocurrencies, Its value has increase over the years at an exponential rate and only downside with Bitcoin is that it is deflatory
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June 13, 2017, 08:22:35 AM
 #293

Definitely, Bitcoin sounds money, at present bitcoin is using for many purposes, you can save and investment with bitcoin, you can also buy foods and clothes by bitcoin, you can also use Bitcoin as a payment in airlines ticket in Japan, so it can be said that, bitcoin as alike money...

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June 13, 2017, 11:16:02 AM
 #294

Bitcoin has proven to be sound as gold/fiat currencies if not more sound. It is faster to move arround, it is backing more than 600 other cryptocurrencies, Its value has increase over the years at an exponential rate and only downside with Bitcoin is that it is deflatory

Well many are treating it already as a digital gold and we can't deny that it is a digital money. So the sound of money in bitcoin is reliable and it's a fact. And as a crpyto currency bitcoin can be use for purchasing different things online that makes it a legitimate money. Another plus factor of it is it's a good investment.

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June 13, 2017, 11:19:02 AM
 #295

The regular definition of money of being directly exchangeable to goods and services very much apply to BTC, There are a variety of websites and merchants accepting BTC and those take it from you in the form of BTC hence it's money IMO.
The money and commodity discussion has been going for a while, but I see it clearly as money.
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June 13, 2017, 12:59:35 PM
 #296

For me bitcoin is money because I have a lot of bitcoin for sure I can make a lot of money for sure. Like when I buying my wants and needs everyweek and thats money from bitcoin. So its better if you buy bitcoin and for after few months you will make a lot of money after that. More bitcoin more money. You do you think bitcoin is money for you?

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June 13, 2017, 11:00:59 PM
 #297

Bitcoin is not sound money, but it is a real money or cash for me, but literally it is a virtual digital currency where I can convert
It into a real money or according to the country you belong.

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June 14, 2017, 12:30:29 AM
 #298

Yes it is, because you can used it to buy things that you want just like money can do. Its a real money when you convert it into fiat. because bitcoin as of now is still a digital currency.

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phaddie
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June 14, 2017, 12:31:58 AM
 #299

Bitcoin is sound money as you can convert it in real cash in just 10 minutes in an exchange. If you are in Europe for example you can do so from bitpanda.

Bitcoin is sound as you and only you are in charge of it and it has no central authority to make decisions about it. You are your own bank. In this sense bitcoin is the most sound money that exist out there ( in the internet).
buenav
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June 14, 2017, 12:34:13 AM
 #300

Bitcoin is sound money as you can convert it in real cash in just 10 minutes in an exchange. If you are in Europe for example you can do so from bitpanda.

Bitcoin is sound as you and only you are in charge of it and it has no central authority to make decisions about it. You are your own bank. In this sense bitcoin is the most sound money that exist out there ( in the internet).


Your first line describes it as an asset which is not the same thing as money. Money implies you are using it directly without exchanging it and for me there are some cases of this but the vast majority of bitcoins are held as an asset and not as money.
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