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Author Topic: Is Bitcoin Sound Money?  (Read 28024 times)
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October 18, 2017, 08:58:47 AM
 #681

For me, bitcoin is money, but at the moment I have to exchange it for Fiat, because it is poorly developed in our country. it turns out that this is something between goods and money.

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October 18, 2017, 09:05:32 AM
 #682

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.

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October 18, 2017, 09:26:33 AM
 #683

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.
It doesn't require your to have a money that is stable or have fixed value because even bitcoin is volatile, it is still considered as money. Bitcoin has a lot of advantages and disadvantage and volatility can be both because if you are an investor then you will treat it as an advantage while if you are a businessman and plan to accept bitcoin then it is a disadvantage because you have a chance to lose some profit if the market goes down.

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October 18, 2017, 09:39:29 AM
 #684

It is sound money.. otherwise people will not spend time working in it online if they cant get any income from it. The moment you are working on it means you wanted to earn.  Earning means money. You see a lot of people are doing bitcoin because they know there is money from it.
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October 18, 2017, 09:45:47 AM
 #685

Yes it’s a sound form of money (crypto) its means that whatever you want to have you can get in return of bitcoin so any thing through which you can get or exchange something  is money so same is in the case of bitcoin you can get everything in return of it or you can exchange .
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October 18, 2017, 09:54:59 AM
 #686

Bitcoin doesnt just sound money it sounds Moneeeeeeeey!!! It sounds treasure, it sounds legacy. Sounds wealth.

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October 18, 2017, 11:09:49 AM
 #687

It is sound money.. otherwise people will not spend time working in it online if they cant get any income from it. The moment you are working on it means you wanted to earn.  Earning means money. You see a lot of people are doing bitcoin because they know there is money from it.
I think yes bitcoin sounds money people would not be interested of it if they cannot earn money. Like me i am interested in bitcoin i can get money and have an extra income for my needs.

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October 18, 2017, 11:16:02 AM
 #688

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 is digital currency so i think this bitcoin is money because you can convert it into real money /fiat . so it's good if you have a bitcoin and try to hold it and then wait atleast 3-5 years i think holding bitcoin will give us a lot of money becuase biitcoin is bumping up!
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October 18, 2017, 12:29:14 PM
 #689

Bitcoin doesnt just sound money it sounds Moneeeeeeeey!!! It sounds treasure, it sounds legacy. Sounds wealth.

Oh yeah! When I hear bitcoin my eyes will just became $$$$.  Grin
Bitcoin isn't just sounds money but definitely a smells real money to me like when me and my friends gathered and we talked about bitcoin and we're like a pro investors talking about money and more money and it really feels good.

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October 18, 2017, 02:48:55 PM
 #690

For me, bitcoin is money, but at the moment I have to exchange it for Fiat, because it is poorly developed in our country. it turns out that this is something between goods and money.
I think its not between goods and money, but the combination of both instead. I mean it can be a good since there are no current items or services that can be purchased by Bitcoin itself (despite few countries have already accepted this), worldwide that is. And this could be money because after you earned the currency you could convert Bitcoin to fiat.

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October 18, 2017, 02:54:08 PM
 #691

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.

And to cut the long story short, bitcoin turned out to be a new forn of asset that the people and the market values. It is not absurd that an online currency is being valued greatly. I've seen worse in auction houses and other collectors item investments etc.

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October 20, 2017, 07:51:34 AM
 #692

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.
It doesn't require your to have a money that is stable or have fixed value because even bitcoin is volatile, it is still considered as money. Bitcoin has a lot of advantages and disadvantage and volatility can be both because if you are an investor then you will treat it as an advantage while if you are a businessman and plan to accept bitcoin then it is a disadvantage because you have a chance to lose some profit if the market goes down.
Yes the volatility of bit coin is question mark on bit coin and it is considered as one of the disadvantages as there are a lot of fluctuations in rates and prices of bit coin but I think just like you that for an investor the volatility is an opportunity for getting more and more profit from it.

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October 20, 2017, 10:18:08 AM
 #693

For me bitcoin is sounds like money, bitcoin can exchange into real money or buy some other things or pay some bills soo it souds like a money ^_^
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October 20, 2017, 10:19:33 AM
 #694

It will be bitcoin untrill everybody understands blockchain after that it will be blockchain investment wave

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October 20, 2017, 10:21:08 AM
 #695

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

Yes because bitcoin is profitable because of it's volatility. Since bitcoin started, a lot of people who were able to buy bitcoin when it was on it's cheapest was able to earn millions of dollars if they were able to keep it till today.

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October 20, 2017, 06:35:07 PM
 #696

For me, bitcoin is money, but at the moment I have to exchange it for Fiat, because it is poorly developed in our country. it turns out that this is something between goods and money.
Yes of course bitcoin is money as according to the definition by the oxford learners dictionary bitcoin is a sound money. you can buy anything in the whole world by online payment ,you can convert it to any other currency very easily as it is convertible to other currencies in the world. The upcoming time will prove it that it will be the time of digital currencies where there will be very less use of paper money.

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October 20, 2017, 11:41:55 PM
 #697

I think bitcoin is the voice of money because it sounds a lot of people about bitcoin ,, like I first heard bitcoin from my colleagues I was finally interested in bitcoin because the price is quite high ...

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October 20, 2017, 11:51:53 PM
 #698

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 believe it is since it is now widely used for vast transactions. So if it is used for almost any form of exchange, then I can say that it is sound. Bitcoin has already gained its credibility in the past 8 years and still it exist with a soaring value. This proves that more and more  are getting interested. So sound is it? Yeah! A very loud one actually!  😁

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October 21, 2017, 11:03:23 AM
 #699

I think bitcoin is the voice of money because it sounds a lot of people about bitcoin ,, like I first heard bitcoin from my colleagues I was finally interested in bitcoin because the price is quite high ...

That is the paradox with people, it need to succed so they can join. Noone joins in advance to have sence of what if happening.
Wait after lightning network is announced, then we will see skyrockets

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October 21, 2017, 11:06:40 AM
 #700

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.

Also one of the reason why our govt is still very much undecided that how to treat bitcoin is because of the reason that if they term bitcoin as a currency then any currency has to be regulated and authorized by the govt . Bitcoin cannot fall under this so they are struck with this how to treat this thing.

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