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Author Topic: Is Bitcoin Sound Money?  (Read 28008 times)
blackhawkeye1912
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August 14, 2017, 03:50:03 AM
 #521

Bitcoin is not sound money, instead it is money in reality. As long as you can use and convert it into a real cash money, then it is a currency that can be considered. Imagine if this is not money for sure it will be accepted as payment online. Right? Smiley

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August 14, 2017, 04:01:32 AM
 #522

I'm not going into all that debate and whatnot, all I know is that I can use bitcoin to buy things,
I can use it to pay for my bills, I can even convert it to cash anytime I want. So, as I see it, it's money.
More than that, like fiat it can buy things and like gold it's value could go up or down. Bitcoin does all these while making it easier for payments ;with the near instantaneous transactions and low fees then, as for the value; it could be both good and bad in terms of investmen/speculation becauee of the volatility.

There's no doubt. The answer is yes as stated in above answer. Bitcoin is a virtual money protected by a blockchain technology. It's safer than cash. It's less stressful than credit cards.

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August 14, 2017, 04:07:56 AM
 #523

Bitcoin is not sound money, instead it is money in reality. As long as you can use and convert it into a real cash money, then it is a currency that can be considered. Imagine if this is not money for sure it will be accepted as payment online. Right? Smiley
Yeah I agree to you. Bitcoin is not sound money because it is real money. It is real currency that you can use to buy different goods and services. Many businesses are now accepting bitcoin as payment like some hotels in japan and also the Lamborghini.

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August 14, 2017, 04:09:48 AM
 #524

Im still a newbie but for me bitcoin is money becuase money can buy anything if you earn a lot of bitcoin it can be convert it into a real money to buy food , cellphone, or any gadgets that u want or car or house Smiley

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August 14, 2017, 08:26:43 AM
 #525

Im still a newbie but for me bitcoin is money becuase money can buy anything if you earn a lot of bitcoin it can be convert it into a real money to buy food , cellphone, or any gadgets that u want or car or house Smiley
It is money but just in a different perspective. You see Bitcoin is a digital currency. Although it is both money it have different ways of transactions and such. If you would've already noticed few countries have already accepted it as means of payment and it is now much easier to use when it comes to convenience.

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August 14, 2017, 09:05:45 PM
 #526

Im still a newbie but for me bitcoin is money becuase money can buy anything if you earn a lot of bitcoin it can be convert it into a real money to buy food , cellphone, or any gadgets that u want or car or house Smiley
It is money but just in a different perspective. You see Bitcoin is a digital currency. Although it is both money it have different ways of transactions and such. If you would've already noticed few countries have already accepted it as means of payment and it is now much easier to use when it comes to convenience.
Digital currency is a little bit different from fiat in respects of earning, making transactions etc. Although both exist to serve the same purpose which is to help people in earning their livelihoods. Bitcoins is just a lot easier and beneficial to have than fiat. I hope one day we will be able to make payment purely in bitcoins without converting it into fiat.


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August 14, 2017, 09:16:20 PM
 #527

Im still a newbie but for me bitcoin is money becuase money can buy anything if you earn a lot of bitcoin it can be convert it into a real money to buy food , cellphone, or any gadgets that u want or car or house Smiley
It is money but just in a different perspective. You see Bitcoin is a digital currency. Although it is both money it have different ways of transactions and such. If you would've already noticed few countries have already accepted it as means of payment and it is now much easier to use when it comes to convenience.
Digital currency is a little bit different from fiat in respects of earning, making transactions etc. Although both exist to serve the same purpose which is to help people in earning their livelihoods. Bitcoins is just a lot easier and beneficial to have than fiat. I hope one day we will be able to make payment purely in bitcoins without converting it into fiat.

Agree, although they are slightly different but still the same because can be used for the exchange of goods and services and I really agree when bitcoin is said to be much easier and useful. Wink


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August 19, 2017, 04:58:28 PM
 #528

Bitcoin is not sound money, instead it is money in reality. As long as you can use and convert it into a real cash money, then it is a currency that can be considered. Imagine if this is not money for sure it will be accepted as payment online. Right? Smiley
It already is really, little by little it is making it reality you see (that's why we face these forks). For now, it really is like money, because of the conversion  of Bitcoin into cash. But it is already a currency, a digital currency to be precised.

But it some countries Bitcoin have already been accepted as a mean of payment.


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August 19, 2017, 05:29:57 PM
 #529

In my country is still very hard to use bitcoins as sound money. That is why my only alternative is keep holding my coins expecting future date when more stores can be willing to accept bitcoin as a valid payment option, because these days I have bitcoins, but I have no money.  Cry

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August 19, 2017, 05:35:22 PM
 #530

Yes. In fact I'm not very aware and interested in the debate. And I'm sure we've heard that too often. That I know, right now we are treating bitcoin like money. For example buying goods and making investments. It is 2 examples enough to prove it.

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August 19, 2017, 05:53:12 PM
 #531

I think for the bitcoin debate with gold it is out of place, why, because bitcoin and gold have their own story. And have different fans. Very irrelevant. We know what gold is, and we also know what bitcoin is, both have their respective functions. And did not rule out a person who likes gold to follow bitcoin or it could be otherwise.


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August 19, 2017, 06:53:32 PM
 #532

In my country is still very hard to use bitcoins as sound money. That is why my only alternative is keep holding my coins expecting future date when more stores can be willing to accept bitcoin as a valid payment option, because these days I have bitcoins, but I have no money.  Cry


I have the same situation. In my country, bitcoin and other crypto-currencies are still illegal. So I just keep bitcoin for the future. I can not use it as a money right now. Only if I exchange it for the national currency.  But I hope that the government will legalize bitcoin soon.

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August 20, 2017, 06:23:38 PM
 #533

I do believe that bitcoin is sound money. it is a undercover-currency.it's value increase and decrease. it's money depend on performance. it is a online payment system. it's hope for a future successful life.

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August 20, 2017, 06:59:02 PM
 #534

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.

You made the mistake of saying Bitcoin is real money. Bitcoin is a virtual currency, a currency that contains algorithms and transaction codes, so it is virtual and it is not real. However, one can also use it as a measure of value and use it in global payments

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August 21, 2017, 09:39:01 PM
 #535

In my country is still very hard to use bitcoins as sound money. That is why my only alternative is keep holding my coins expecting future date when more stores can be willing to accept bitcoin as a valid payment option, because these days I have bitcoins, but I have no money.  Cry
If you have Bitcoin but do not have money, then why not just convert your coin to money I mean it would be the most logical action, true investment comes in true spending. Don't covert all of it just partial amounts of it, then those remaining coins hold it and keep on earning coins.

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August 21, 2017, 09:43:53 PM
 #536

Money is Money but bitcoin is a sound money . Many People called bitcoin is a sound of money.

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August 21, 2017, 11:09:04 PM
 #537

Bitcoin is as sound as Blockchain as a technology is sound.

The entire cryptocurrency idea is built off Blockchain so as long as this networked technology is hackerproof then yes, Bitcoin can be used as "sound" money. Although technically Bitcoin is a store of value, it can be used as money for transactions despite its volatility.

It's multifunctional which gives Bitcoin great mystery and utility for the future. IMO Bitcoin is an investment.

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September 05, 2017, 04:12:54 PM
 #538

Money is Money but bitcoin is a sound money . Many People called bitcoin is a sound of money.
Well in fact it does. No matter how you see it, its mechanism is like money. Money is the physical form of values that a currency has. It is a tool in a form of paper or a coin. But in Bitcoin it only has its values itself that happens to be in a digital form or in the internet spectrum. Its indeed like money its just that we made it to the next level and make use of the technology even more.


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Fundalini
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September 05, 2017, 05:03:40 PM
 #539

I think for the bitcoin debate with gold it is out of place, why, because bitcoin and gold have their own story. And have different fans. Very irrelevant. We know what gold is, and we also know what bitcoin is, both have their respective functions. And did not rule out a person who likes gold to follow bitcoin or it could be otherwise.


That is correct. Comparing bitcoin and Gold is like comparing 'the rock' from a 2 week old baby Grin . And bitcoin.org even stated that bitcoin is still in its experimental phase. So really, no point in comparing..

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Sifat33
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September 05, 2017, 06:42:36 PM
 #540

Yes bitcoin is money for me.My earning way is bitcoin.anyone can earn with bitcoin.There are many shop accept bitcoin for payment. Bitcoin is money because you can convert with money.

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