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Author Topic: Is Bitcoin Sound Money?  (Read 28123 times)
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November 14, 2017, 02:26:54 PM
 #761

Yes its sound money but why to compare bitcoin with gold and all they are precious metal not currency but bitcoin now become a solid platform for transaction to be done so in my view i can use bitcoin to every were to buy and sell so its sound money for me   

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November 14, 2017, 03:58:11 PM
 #762

I do think that bitcoin is sound money since even though the value either increases or decreases due to supply and demand(like gold). I do like the fact that bitcoin can be transferred faster than gold(depending on where you and the buyer lives). I don't like the fact that sending bitcoins has a fee but I suppose that there is no way around that. I wonder what will happen when the maximum amount of bitcoin has been mined.
For me bitcoin is sound money, Because value of bitcoin is getting higher in the near future. And if you will willing to wait and satisfied the value then you can sell your bitcoin. And some of the bank now accept bitcoin and someday you can buy stuff using bitcoin.
It is money. Why do people in this thread seem to not understand, and it also seem that they don't have the knowledge they need in order for them to comprehend to the situation that everytime we use Bitcoin, we are doing something like what Money do. And obviously it is money, its just that they exist in a different dimensions; physically and digitally.
It is indeed money since we can able to exchange it on our local fiat money and there are situation on where we can able to make use of our bitcoin on purchasing something online or any services but only possible on some countries or places which do accept or adopt bitcoin. I dont know for those people who dont hear about bitcoin as money. It do sounds money but on those people who dont know about bitcoin then  expect what would be their answer and their own choice.

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November 19, 2017, 06:32:03 PM
 #763

 really amazed relating to this task
Toward the starting Bitcoin was not be utilized by many individuals that is the reason less individuals were keen on exchanging or to work with Bitcoin yet now the general population changes over all their cash to bitcoins in light of the fact that now wherever Bitcoin is acknowledged so it additionally functions as a cash that is the reason you can state that Bitcoin is the cash.


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November 21, 2017, 09:42:50 AM
 #764

Bitcoin has proven to be better than any fiat currency out there. And, if I can use it to buy things, I consider it real money!
Exactly! There is no point of denying this fact that bitcoin is something more beneficial than that of paper money. It is because of the reason that you can not only use bitcoin for buying different kind of things but it is the best way of investing your money too. It really helps you in making of good amount of money as well. Bitcoin will for sure be the most widely used currency in the next few years.

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November 21, 2017, 09:47:10 AM
 #765

Bitcoin doesn’t have exact value in market and its price is always changing due to supply and demand the online market. I think bitcoin is a kind of electronic or digital money in online market. You can use bitcoin in any kind transaction in online like paying bills and many more so I think the bitcoin is money.
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November 21, 2017, 04:45:18 PM
 #766

Yes bitcoin sounds money. Can earn it spend it you can even use bitcoin to pay bills and makes payment easier bitcoin has a great value.
Yes bitcoin sounds money because it cost a very big value of money.Thats why many are accepting bitcoin now because you can earn a big salary it is a very good job offer most of all to the un employed people.This is a big opportunity especially to the un employed persons.It gives you a big salary,Once you pursue yourself to work on this kind of job You can see the outcome of your effort in the end of it.
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November 21, 2017, 04:45:53 PM
 #767

Bitcoin becomes sound of money sometimes.but it doesnt have exact value.its depend on market .sometime you can buy each amount by less usd ,another time  you can buy each amount higher usd price.

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November 21, 2017, 04:47:41 PM
 #768

NO!! bitcoin is just nothing its just morethan 8000 USD per bitcoin and money only have 100 Usd on its max Cheesy bitcoin will totally conquer the FIAT its just the matter of time where we can use bitcoin  without internet

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November 21, 2017, 04:48:58 PM
 #769

Yes bitcoins sounds money but it is more likely asset also, because most of the people treat it like asset they just sell and buy and convert it into fiat currency, But bitcoin has two face like i discussed, there are few people who use bitcoin as a payment or we can say that as money.

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November 21, 2017, 05:05:54 PM
 #770

Yes, you may say it is sound money because you can use it to pay your bills. Not only that, other merchants worldwide also allow you to pay using your Bitcoins. Hence, you may say it is sound money because it can very well be used nowadays to facilitate trade and commerce.

Nonetheless, while it is okay to presume Bitcoin is sound money, we have to be careful on how we use the term "money". It may mean something of monetary value alone or something that can have monetary equivalent when it is being converted to fiat currency. Hence, we have to qualify our usage of terms so as not to juggle up issues all at once.   
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November 21, 2017, 05:12:52 PM
 #771

Bitcoin is a sound choice because mainly due to its
technology and what it has to offer, something that
fiat can't.

- Decentralized
- Immutable
- Privacy
- Price action solely dependent on demand and supply

It's just a matter of time when people realize the true
power of blockchain technology

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November 21, 2017, 06:45:35 PM
 #772

Gold and bitcoin are both not quite money.  However, gold is much further from money than bitcoin,  as bitcoin can be transferred like money but even abroad.  As to if it's sound,  I don't feel so atm because of the high fees and slow confirmation times.
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November 23, 2017, 05:37:56 AM
 #773

Yes, it is. Bitcoin is a currency that we can use through digital. But if you want to buy some things that could not accept through online you can convert your bitcoin over your local money. So, we can say that bitcoin sound money.

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November 24, 2017, 07:50:33 PM
 #774

Bitcoin is a currency which means money. So when I first heard about coin I though it is a scam. But day by day when I become introduced to coinmarket I able to know that bitcoin means a lot of money. So collect bitcoin & earn doller .

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November 24, 2017, 11:37:05 PM
 #775

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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Right now bitcoin is not sound money in terms of having a low fee to actually buy things that don't cost too much. Buying a coffee at McDonalds is less than 1USD, paying a 3 to 30USD fee(depending on the mempool filling up) is not practical.

Core should raise the block size by .25MB right now, and announce they are going to increase if every 6 months by .25MB. That should easily cover what is happening with technology catching up and being cheaper. At the same time it would take advantage of the SEGWIT savings on space as it goes up.



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December 01, 2017, 12:57:43 AM
 #776

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
No doubt bitcoin is money because you can convert it into real money to buy anything and pay anything and i think this bitcoin is our future money so if you use fiat after 5 years i think they will laugh at you so its time to earn bitcoin for future.
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December 01, 2017, 01:38:01 AM
 #777

Yes, it is. Bitcoin is a currency that we can use through digital. But if you want to buy some things that could not accept through online you can convert your bitcoin over your local money. So, we can say that bitcoin sound money.
Absolutely bitcoin is money, that is why more and more people around the world are working for it because it gives financial improvement as what real money did.
Even if you will not convert it to real money but still there are already stores that are accepting bitcoins as payment for goods and services.

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December 03, 2017, 12:59:34 AM
 #778

Yes it really does because you can buy things using it and it is real it is not a joke, just like in a bank you can put your bitcoin in online wallet and it can also increase its amount every months.

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December 04, 2017, 04:08:23 PM
 #779

I do not want to argue with that and the others, all I know is that I can use bitcoin to produce, I can use it to help my economy.
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December 06, 2017, 07:19:25 AM
 #780

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 owners today still must convert their coins back to traditional currency in order to buy certain items, pay bills and purchase things at their favorite shops. However, the tide is shifting and the conversion necessity is falling. As the value of bitcoins increase there will be more value to spread around, and more people willing to spend bitcoins.
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