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Author Topic: Is Bitcoin Sound Money?  (Read 28032 times)
Clover_Faith
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September 17, 2017, 08:21:21 AM
 #601

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

yes i think that bitcoin is sounds money because to can use to buy things. we earned it to buy a things that we needed. Somehow we need to convert to real money to accept in the other market.

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September 17, 2017, 08:31:54 AM
 #602

Personally this is what I believe. The growth of every comodity is down to demand and I trust the decentralized nature of btc made it more attractive to business endowed society mean while the sky rocketing prices from last year made it more attractive to the universe in general. BTC is on a different level to good since one is virtual and the other is real. To me both are good commodities to invest in

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September 17, 2017, 09:08:23 AM
 #603

Definitely it is. It is the most safe and sound currency every created and used. Time will guarantee that.

Exactly, it is 100% sound money because it can be easily converted to other currencies, cryptocurrencies and commodities without any preconditions. Time indeed will tell the story to the world.



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September 17, 2017, 10:04:59 AM
 #604

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
Yes bitcoin sound because we can earned money here by joining signature campaign and help me a lot especially in my expenses.if they compare it gold i think they have differences somehow.and just like paying other transactions here its easily to transact.
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September 17, 2017, 10:08:59 AM
 #605

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?

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Yes,when you heard bitcoin its not just a money but an interesting sound of money that can avail anyone who wants to advertised bitcoin only you capital your time and effort.Bitcoin really change life of somebody.It makes a person rich and and if you just store your bitcoin and sell it on right time for bitcoin price increase.In our place they earn money and profit a lot if they hold bitcoin and sell it on the right time.

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September 17, 2017, 10:11:23 AM
 #606

Definitely it is. It is the most safe and sound currency every created and used. Time will guarantee that.

Exactly, it is 100% sound money because it can be easily converted to other currencies, cryptocurrencies and commodities without any preconditions. Time indeed will tell the story to the world.

Sure, but what about other currencies like eth, zcash and new one coming up everyday?

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September 18, 2017, 06:45:32 AM
 #607

Tha generation will charge and bitcoin will become the most significant in terms of investments.
Yeah, bitcoins sound like money because people all giving them status of real money. They know that it is a type of virtual currency that have no insurance at all but is more secured and easier to handle than the physical currencies existing in the world. They use bitcoins as real money for sale/purchase of their products online.

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September 18, 2017, 06:57:52 AM
 #608

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?

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Define "sound".
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September 18, 2017, 07:11:32 AM
 #609

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.
Yes, agree with all that you said bitcoin sound money. because once you have it you can convert into a real money according to country you belong and you can use it to buy the ones you want to buy and you can also use it in emergencies.
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September 18, 2017, 07:40:31 AM
 #610

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

yes i think that bitcoin is sounds money because to can use to buy things. we earned it to buy a things that we needed. Somehow we need to convert to real money to accept in the other market.

Bitcoin is not only sounds money but it already money even we have to convert it in fiat like dollar which currency can be accepted in a particular country. Bitcoin itself can be use now in transaction and buying things for those company who are aware for its usage.

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September 18, 2017, 07:47:34 AM
 #611

Yes, for me bitcoin sound’s money because you can earn and used it buying something. You can also convert bitcoin into a real money.   Smiley 
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September 18, 2017, 08:02:27 AM
 #612

Bitcoin is still in the early stages And in futures we would see Bitcoin replace Fiat and payment processing system. Currently Bitcoin has been serving as a store of values and mode of payment it just that it has not been regulate by any governmental agencies. Bitcoin is a good money and is a good financial system and I do believe that Bitcoin is the future of money.

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September 18, 2017, 08:07:28 AM
 #613

its both similar and different. BTC its not something you can hold or see, and if something bad happens to the inernet, and / or / the world it will just disspaear, while gold remain. This is why people keep Dollars under the mattress. They need something they can hold in their hand.
But its similar because its a trading thing with value that sets by demand.
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September 19, 2017, 03:11:14 PM
 #614

Of course. When said Bitcoins. It sounds like money. So I always get bitcoins. For when it's getting multiplied and grown. then I will exchange it to money
For sure it is money; I don’t see any difference in the money and the bitcoin using money is like using bitcoin so both of them are the same case as bitcoin is getting into investment and the bitcoin is now able to pay the all bills and the guarantee to increase your income and your money. If you have money so you can convert it to bitcoin at any time.
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September 19, 2017, 03:21:04 PM
 #615

I think so...
Bitcoin and money, I think there is no difference between these two things, I believe that Bitcoin is using as same as the purpose of money. so those cannot be differentiated anymore. Bitcoin is basically a digital money, it is intangible but conventional money is tangible. I think there is only one difference between two currency.

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September 19, 2017, 03:24:56 PM
 #616

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

I classify money as something that I can use to purchase anything that's on my mind, whenever I want. I can use dollars to go to the local store and buy a gallon of milk if I wanted to. I can use my bank account or credit card to purchase on amazon if I wanted to too. Bitcoin, on the other hand, has that extra step of conversion between what you have and what you want. With that in mind, I'd say that currently bitcoin is not sound money, but as sellers start accepting it as payment, it will transform into sound currency.

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September 19, 2017, 03:29:31 PM
 #617

I think so...
Bitcoin and money, I think there is no difference between these two things, I believe that Bitcoin is using as same as the purpose of money. so those cannot be differentiated anymore. Bitcoin is basically a digital money, it is intangible but conventional money is tangible. I think there is only one difference between two currency.

this is so different. when conventional money and digital currencies (bitcoin) in sanding both have distinctive differences. the conventional currency is controlled by the government, while our bitcoin owns (the users) controlling, from how we use it to the nominal price we will use, it is clear that there is a difference between the two

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Chrystora123
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September 19, 2017, 03:39:12 PM
 #618

when first we hear about Gold it sound money , same as like Bitcoin , Bitcoin si gold in virtual world , and when i hear about Bitcoin the sound is Money , hehehe Grin

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September 20, 2017, 01:09:22 PM
 #619

when first we hear about Gold it sound money , same as like Bitcoin , Bitcoin si gold in virtual world , and when i hear about Bitcoin the sound is Money , hehehe Grin
You're just spinning your statement and it doesn't make any sense, you didn't even defend your statement on why did you think so.

It is indeed, like Gold since Bitcoin is not exactly as what Fiat is. So I would say that it has the property of both (Fiat and Gold), why? Because as you can see Bitcoin has the value like what Fiats do, and it seems that the economic properties are innate in it so basically it is like Fiat. But then again as what the main property of Fiat has is its form and value, so Gold doesn't have this but it has a property that makes it like Bitcoin, its availability. Fiat is easy and obviously available in any way as it should since it is used in everyday living, but Gold you need to mine and process it before we can determine its value.

So overall Bitcoin is a Gold that is being process to be Fiat, that's pretty much it.














 

 

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tbterryboy
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September 20, 2017, 01:23:18 PM
 #620

I don't understand why people keep comparing gold to bitcoin within the context of currency. Gold hasn't been used as currency for over a hundred years. People wear gold and the buy it to keep as an investment (store of value). When was the last time you saw some one buying something with gold coins? The only reason gold coins are made is for investment purposes, it's nostalgic to have it in an actual coin form.

Further gold is a metal. Bitcoin is electronic, not tangible, it's different on so many levels.

actually you get it i dont know too but they are still comparing it gold cannot be bitcoin anymore so why they believe that bitcoin is better than gold?
Actually it is mate, if you analyze what is the current news about bitcoin vs gold you would've realized it already. I mean just months ago the only thing that makes Bitcoin better than gold is its availability since you still need to mine gold (literally) in order for you to get it, not only that you also need to process it before you really get your hands on 'the gold'. Whilst in Bitcoin its availability is easy, its just right around the corner. But now it is not just its availability but also its value that have its advantage over gold.
Bitcoin beats gold in two aspects for sure. First, BTCs can return huge profits in short time. Second, quick, cheap large transactions can be made to any part of the world without interference of government or banks. As you have already mentioned the availability point, I can confirm it only.



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