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Author Topic: Is Bitcoin Sound Money?  (Read 28032 times)
milewilda
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June 19, 2017, 12:20:34 PM
 #341

Bitcoin is digital currency not asset as people actively using it for different things to perform just like fiat. Bitcoin is not asset where you invest and keep that in holding like gold. Bitcoin is exchanged with fiat and remittance market is almost occupied by Bitcoin and gambling industry where Bitcoin is used as alternative form of money.
I agree, bitcoin is tantamount to a digital currency and bitcoin is not the same as investment assets, or the gold always goes up but the bitcoin uncertain sometimes up and sometimes down. bitcoin is an alternative we if Save as money, with Save as then it will be more secure bitcoin and easy too easy on Exchange in the market because the market is almost occupied by the bitcoin and gambling industry is used as an alternative to bitcoin to save money.

Yes at some point it is alternative but for me it is same as money.  Money used online.  You could do same thing like buying stuff, having some investment, trading, only if you were online.  As time goes by, little by little it became more of like the real money, paper money. 
i think we do not need to confuse about that, because there is no doubt that bitcoin is money, the difference is that bitcoin is cashless money, it do not have any physical body but is online and virtual currency that can be use for buying and selling just like normal currency. and it also expected that in future bitcoin will also be use in our area offline shops for shopping.
You are right bitcoin is money since it does really have value and we can able to purchase some goods online and as of now there are already shops or merchants that do accept bitcoin as a payment which means its still a currency but only on digital field.I think this wont happen for bitcoin to have its own physical form and it would much better if it would remain on digital.

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June 19, 2017, 01:36:55 PM
 #342

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.
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June 19, 2017, 08:26:52 PM
 #343

Bitcoin dosen't just sounds money it is really money cause you can convert it to any money like peso and dollar in my experience i use bitcoin to buy things even paying my bills online and bitcoin is possible to withdraw, the bank will automatically convert the bitcoin into what kind of money... 
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June 19, 2017, 08:34:54 PM
 #344

Bitcoin dosen't just sounds money it is really money cause you can convert it to any money like peso and dollar in my experience i use bitcoin to buy things even paying my bills online and bitcoin is possible to withdraw, the bank will automatically convert the bitcoin into what kind of money... 
i agree bitcoin is real money , because in bitcoin technology , the money you invest will benefit more than just saving money in a bank .

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June 19, 2017, 08:54:58 PM
 #345

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

No, it may still be early for bitcoin but we are on the actual usage of bitcoin as money.  It may be young for others but for those who are even just 1 year using bitcoin they can say that bitcoin surely has the future and it does really sounds as money. With the stores and merchants that now accepts payment thru crypto or bitcoin, isn't that money?

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June 19, 2017, 09:16:16 PM
 #346

Bitcoin dosen't just sounds money it is really money cause you can convert it to any money like peso and dollar in my experience i use bitcoin to buy things even paying my bills online and bitcoin is possible to withdraw, the bank will automatically convert the bitcoin into what kind of money... 
anything that could be spent to trade something then it's considered as money. so not only because of bitcoin can be converted to any fiat around the world . besides recognized as money bitcoin have a lot of benefit to change the way world financial work. it's more than just a tool of payment actually.

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June 19, 2017, 10:42:07 PM
 #347

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

No, it may still be early for bitcoin but we are on the actual usage of bitcoin as money.  It may be young for others but for those who are even just 1 year using bitcoin they can say that bitcoin surely has the future and it does really sounds as money. With the stores and merchants that now accepts payment thru crypto or bitcoin, isn't that money?
if we are using bitcoin as money specially for online purposes then we can call it as real money, i think very soon we will also become able to use bitcoin even in our local shops for shopping anything. for example there are so many shops in Brazil, where they are accepting bitcoin for shopping without changing bitcoin in to fiat currency but you can use it for anything that are available in shops for shopping.
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June 19, 2017, 11:35:56 PM
 #348

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.
If a person is fully involved in bitcoin and they are using it for their needs and are using it as a money then for them it is a money like real fiat but there are some people who are not fully involved in bitcoin and they have their money invested in bitcoin only for future profit so for them it is not like a full money but like the early stage of money or an asset for trade.

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June 19, 2017, 11:45:25 PM
 #349

Yes bitcoin is money as this can be use to buy stuffs, things, paying bills online. So its a big yes for me that bitcoin is money. Bitcoin has helping me a lot because this gives me less effort by doing things online. Also, gives me income through online.
For me it is alo like a real money as it is possible for me to buy some things for my life and the other point is that we can easily convert bitcoin to any currency on any exchange so that feature show it a pure money.

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June 19, 2017, 11:46:31 PM
 #350

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.
If a person is fully involved in bitcoin and they are using it for their needs and are using it as a money then for them it is a money like real fiat but there are some people who are not fully involved in bitcoin and they have their money invested in bitcoin only for future profit so for them it is not like a full money but like the early stage of money or an asset for trade.
but I think that in present time as the users of bitcoin are not big in number therefore most of the people do not have all the facilities that we are receiving from bitcoin. but in future when bitcoin will become more and more popular then it can become possible that we have all the facilities that we are using in fiat and then people will be totally depending on bitcoin in their life, but I think it will take some more time.
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June 20, 2017, 11:32:31 PM
 #351

.......Bitcoin is electronic, not tangible........

And peer to peer only. Those reasons are why it has taken so long to be accepted. But now that it has, it's validity will come by the same way, the same reason, that it was balked at before: No federal oversights.
Bitcoin is a digital currency and now it is acceptable in most of the markets and bazars for payment as a money. No doubt it can do all things that money can do for you so its reality sounds good now going in market and start buying something is quite easy just give a small bitcoin and get whatever you want online payment is also an option it’s a kind of money from its start day one you don’t need the really currency of the fiat money to take with you when you already have bitcoins in your wallet and currency is a part of money and strange why some people are thinking that its not money.

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ivy|..FACILITATING SECURE, TRANSPARENT...........
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BUSINESS PAYMENTS ON A GLOBAL SCALE....

..─────────  ❱❱  WHITEPAPER  ❰❰  ─────────..
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June 21, 2017, 03:17:32 AM
 #352

Bitcoin is digital currency not asset as people actively using it for different things to perform just like fiat. Bitcoin is not asset where you invest and keep that in holding like gold. Bitcoin is exchanged with fiat and remittance market is almost occupied by Bitcoin and gambling industry where Bitcoin is used as alternative form of money.
I agree, bitcoin is tantamount to a digital currency and bitcoin is not the same as investment assets, or the gold always goes up but the bitcoin uncertain sometimes up and sometimes down. bitcoin is an alternative we if Save as money, with Save as then it will be more secure bitcoin and easy too easy on Exchange in the market because the market is almost occupied by the bitcoin and gambling industry is used as an alternative to bitcoin to save money.

Yes at some point it is alternative but for me it is same as money.  Money used online.  You could do same thing like buying stuff, having some investment, trading, only if you were online.  As time goes by, little by little it became more of like the real money, paper money. 
i think we do not need to confuse about that, because there is no doubt that bitcoin is money, the difference is that bitcoin is cashless money, it do not have any physical body but is online and virtual currency that can be use for buying and selling just like normal currency. and it also expected that in future bitcoin will also be use in our area offline shops for shopping.
You are right bitcoin is money since it does really have value and we can able to purchase some goods online and as of now there are already shops or merchants that do accept bitcoin as a payment which means its still a currency but only on digital field.I think this wont happen for bitcoin to have its own physical form and it would much better if it would remain on digital.
I think bit coin is sound but we cant use it these days such as fiat because its initially stage and people are not much aware of bitcoin but its also a fact that bitcoin had made much value in afew years and its possible that bitcoin will be used as a fiat in future many businesses are involving in bit coin and in future big markets will use it too.

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June 21, 2017, 01:57:00 PM
 #353

Yes of course, as of what I have read bit coin is a crypto currency of the internet ergo if you own bit  coins, the value of it is like as the real money. The value of bit coin change daily like the currency of dollars.

And as of now, I am too curious about bit coin and I want to learn more about it and how it may affect our currency in the future because I know bit coin can be one of used currency in many countries in the near future.

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June 21, 2017, 02:02:18 PM
 #354

Well, yes bitcoin is sound money. But it has yet to perfect its system. It is still in its infant stage and is currently growing up. The future is bright though.

But when you compare it with gold, I think the throne still belongs to gold. Even before modern civilization began, gold has already its precious value. Until now, its value is still there. It will last forever.

Bitcoin, on the other hand, is a product of our modern times. A great technological invention, of course, but when everything crumbles down to the ground, it means nothing anymore. Whereas, gold remains gold.



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andrei56
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June 23, 2017, 02:55:42 AM
 #355

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.
The last factor that you name, is in my opinion the most revealing when it comes to decide if bitcoin is sound money or not, holding fiat is a bad investment you lose purchase power every year, but with bitcoin this is not the case and this proves bitcoin is sound money.

No, bitcoin can not be called money. He has more functions than money. Bitcoin can be used in various fields. And technology blockchain is a very unique technology that will improve the life of every person
Bitcoin is money, there is no way around that, that was the intended purpose of satoshi when he created bitcoin so it dos not matter if bitcoin can do a lot more than that, and by the way it can, but bitcoin fits completely the definition of money in a way not even gold can.

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June 23, 2017, 03:01:55 AM
 #356

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.
The last factor that you name, is in my opinion the most revealing when it comes to decide if bitcoin is sound money or not, holding fiat is a bad investment you lose purchase power every year, but with bitcoin this is not the case and this proves bitcoin is sound money.

No, bitcoin can not be called money. He has more functions than money. Bitcoin can be used in various fields. And technology blockchain is a very unique technology that will improve the life of every person
Bitcoin is money, there is no way around that, that was the intended purpose of satoshi when he created bitcoin so it dos not matter if bitcoin can do a lot more than that, and by the way it can, but bitcoin fits completely the definition of money in a way not even gold can.
As far a i know bitcoin is created to escape the government tax and the power of government over fiat money . Bitcoins is really amoney matters and we didn't expect that bitcoins will have this price as now starting from just nothing in value . It only makes more better by its special application in a fast transaction with untraceable identity of a holder or sender and receiver .


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June 23, 2017, 04:12:03 AM
 #357

Yes bitcoin is money as this can be use to buy stuffs, things, paying bills online. So its a big yes for me that bitcoin is money. Bitcoin has helping me a lot because this gives me less effort by doing things online. Also, gives me income through online.
For me it is alo like a real money as it is possible for me to buy some things for my life and the other point is that we can easily convert bitcoin to any currency on any exchange so that feature show it a pure money.

Yes it is a money. Money that you can exchange in other form of money like dollar, peso, and other real currency. It can used from every country that permitted to used it. It is a money that you can earn/buy or even mine just like gold. A money that no one can control. Bitcoin's purpose is same as the purpose of real money that what it is a money.

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June 23, 2017, 04:23:13 AM
 #358

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

Whether it's young or not as long as we are enjoying and getting a lot of help with our transactions. Bitcoin is a real money and you know what when I'm hearing people talking about bitcoin. The first that comes to my mind is money and investment because that's the fact and it is the characteristic of bitcoin.

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June 23, 2017, 04:33:44 AM
 #359

i agree bitcoin is real money , because in bitcoin technology , the money you invest will benefit more than just saving money in a bank .
Yes it is. Because bitcoin is money it has also a value. We can buy things from it. It can also be our source of income nowadays. It helps us a lot. Investing on bitcoins and let it have a profit is very good for our future purposes. It is money because i can buy my foods any pay my bills instantly. Bitcoin is money for me , a digital one.



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blueangel01
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June 23, 2017, 05:18:39 AM
 #360

of course bitcoin is a money. It is used as a form of payment. It is a convenient way to pay your transactions.  https://www.bostonfed.org/publications/current-policy-perspectives/2014/bitcoin-as-money.aspx Unlike gold, gold is a metal. cant compare metal from money

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