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Author Topic: Is Bitcoin Sound Money?  (Read 28014 times)
onrise
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October 21, 2017, 11:06:40 AM
 #701

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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October 21, 2017, 11:14:50 AM
 #702

In my  own idea, One thing pops up to my mind about bitcoins is money, Because of wide issue in the market cap that btc is unstoppable and keeps soaring to the top, Talking about its value sounds really expensive, there are so many issues like bitcoin is expensive than gold and stable than USD, This things pushed me to extract bitcoin is money:)
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November 01, 2017, 05:33:59 AM
 #703

Bitcoin is genuinely seems funds to me whilst it can be use in exchange of goods and companies. I can use to having to pay payments, purchase commodities on the internet. Also bitcoin price is increasing so it can be use as expenditure.
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November 01, 2017, 06:05:18 AM
 #704

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
well i think bitcoin is sound like money because it is really a money a big money.because if we   are going to change the bitcoin into a local money it is really a great value in returns i believe bitcoin is a  money a digital money that can be change in a lokal money.

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Etherlevis128
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November 01, 2017, 06:06:48 AM
 #705

the bitcoin is money because some businessman or bitcoin users use it in their business. Furthermore, Bitcoin has a value in the market that you can use in trading and investing.

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November 01, 2017, 09:29:34 AM
 #706

To me of course it is. The initial explanation is gold has seen its excellent occasions now it is time and era of new era who is searching towards the future of planet. The gold is not that essential as the technologies is. This is period of robotics and commence of new planet with a lot more significance to binary language than the outdated time beer and horse rides. Bitcoin would be medium to shell out every person in around potential and there will be a single place on the earth to device and comply with it. That is massive aspiration but it sounds true long term.
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November 01, 2017, 09:36:22 AM
 #707

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.

Correct, there's no need to meddle and argue about different aspects and factors of bitcoin's existence as a currency to whether it is money or not. We all know that bitcoins is used in various services and market online and a good way to invest proven by most people and companies who are now adapting bitcoins in their systems.

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November 02, 2017, 02:20:27 PM
 #708

Bitcoin will be greater than gold because every calendar year the cost is growing.
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November 02, 2017, 02:30:55 PM
 #709

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.

Correct, there's no need to meddle and argue about different aspects and factors of bitcoin's existence as a currency to whether it is money or not. We all know that bitcoins is used in various services and market online and a good way to invest proven by most people and companies who are now adapting bitcoins in their systems.
no more to discuss if we will see more of them embracing the change that is happening inside digital currency then bitcoin will be treated by many as
a real money, though we still seeing people that have no faith with this system and still doubting its existence bitcoin will be another way of money just
focus on that and it will happen anytime soon.

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fishbonez11
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November 02, 2017, 02:48:52 PM
 #710

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.

Similar with you, bitcoin's ability to be used as payment for bills enables me to see it as an actual currency. It is actually a dogital currency. Like when you enroll your bank account to online banking. Difference only is that it doesn't have a physical form and its value appreciates and depreciates over time.

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November 02, 2017, 02:51:35 PM
 #711

It's too early to tell whether it's sound. There is a lot of hype, and little adoption by major players and countries, so it could just be a bubble.
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November 05, 2017, 06:43:12 PM
 #712

precious metal is the rare metal utilized in jewelry production and trade buys in money or in type, and something can not determine the volume along with its accurate worth. At the same time, BTC offers the convenience of buying, swapping a fast and convenient in the management of assets, investors can control the worth and be aware of total supply of it. This shows that they'll figure out an image overview of earnings they will get in the future.
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November 05, 2017, 06:57:19 PM
 #713

Till now, yes bitcoin sounds money becase there are very less vendors who are using bitcoin for business purposes. So to buy anything we have to convert our coins into hard cash (money) and then use it for expenses

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November 05, 2017, 07:43:10 PM
 #714

Bitcoin is the first decentralized digital currency,it is a cryptocurrency and digital payments in which many countries around the word use it for bills,online trading and purchasing in some stores who accepts transactions with bitcoins.It may sounds like money because of the earnings you will gain on investing or in mining.It can be easily be converted into cash on whatever fiat you have which tender payments will be made on buying or even paying bills on a manual manner.Bitcoin is investment guaranteed to give profit that can be turn into money or cash.

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November 05, 2017, 09:53:59 PM
 #715

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 can simply say that bitcoin is a like money that has a high value on online market and trading sites. Furthermore, we all know that we can convert our bitcoin into real money and we can also used bitcoin in many kinds of transactions like paying bills, shoppin on online market and many more. Lastly, I think bitcoin is a new kind of money.

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November 05, 2017, 09:59:11 PM
 #716

What kind of person posting this kind of thing,we all know that BITCOIN wasnt a money literally becoz we can put it on our physical wallet.but we can convert it.and we can buy good,pay bills.so whats the purpose of comparing it to gold or physical money.such a waste of nonsense question

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November 05, 2017, 10:02:02 PM
 #717

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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I think one of the factor why bitcoin is very popular to investment is its value. We all know that bitcoin is still new but in the end it has a high price.

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November 05, 2017, 10:02:09 PM
 #718

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.

For me, i consider bitcoin as currency that can be converted in the form of money.  I am also spending my bitcoin but in a very important things to preserve my bitcoin for the future.

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cryptomato
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November 05, 2017, 10:06:18 PM
 #719

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
well i think bitcoin is sound like money because it is really a money a big money.because if we   are going to change the bitcoin into a local money it is really a great value in returns i believe bitcoin is a  money a digital money that can be change in a lokal money.

agreed. I also think that bitcoin is safe and sound money. I even think that it is more sound money than dirty government currencies.

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mhayandal
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November 06, 2017, 04:15:04 AM
 #720

all i know of bitcoin is that i can use it to buy things, more than that like a gold its value could go up and down,bitcoin making life easier for payments and the transaction fees are lower than we expect.

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