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Author Topic: Is Bitcoin Sound Money?  (Read 28106 times)
liivii
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December 07, 2017, 10:23:07 AM

Bitcoins doesn't sound money because bitcoin is money, bitcoins increase and decrease and that's because of money. Here you can earn money based on your knowledge and the more risky it is the more money you'll get. I have a stable job right now and I do bitcoins at the same time because here my 1 month of income can only earn by just a week. And here anytime you want you can earn, so many people are into it and that's all because of money.
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mickeybuddy27
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December 07, 2017, 10:44:58 AM

Bitcoin sounds money in a sense that you can make transaction using bitcoin as a tool or mode of payment in online world. Some online job offers bitcoin as payment for services rendered. You can also convert it into flat in case you want to use it outside the web. ,

Bitcoin is money that can be used for online transactions and needed to convert into fiat to be able to accept as payment in small enterprises. Money and Bitcoin has same in use the only difference is that being centralized and decentralized where bitcoin has no fixed value and can increase and decrease anytime.

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December 07, 2017, 11:17:41 AM

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, it is. It results a lot of money, the price is increasingly
Godric-Gryffindor
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December 07, 2017, 11:17:52 AM

Bitcoin really the king of investment now, better that any commodity out there, Gold has no doubt holds intrinsic value more truer than bitcoin but many trader buy bitcoin because of its usability in the internet world and on ground, sounds money yes
colonel_koval
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December 07, 2017, 11:20:58 AM

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.

The thing is that it is very expensive to pay your bills. There was a user in the forum today who complained he payed like 2.5 dollars fees for a transaction and it is still unconfirmed after 23 hours. Look at the number of unconfirmed transactions. It is currently more than 140k.

I am not so sure that bitcoin can be said to be a viable option to pay bills. Have you actually tried to pay bills with bitcoin?
Zebra.Guy
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December 07, 2017, 11:36:51 AM

Recently Steam stopped accepting bitcoin as a form of payment (because of high fees) what answer the OP's question in the negative way: bitcoin is not sound currency, it is currently only the investment vehicle, and I am afraid it may sink eventualy as well. I have read that even opening Lightning Network will not solve bitcoin's high fees problem, as you have to pay a fee to open and close a lightning tunnel.

So a call to developers: please fix bitcoin and do it soon!
CryptOliver
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December 07, 2017, 11:49:43 AM

obviously many investors are investing money into bitcoin, this is a new breakthrough to get a big advantage especially now that bitcoin prices seem uncontrollable, so many people want to profit from here.
shinjunobi09
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December 07, 2017, 11:54:49 AM

Enough said all I can say that it is money for me because what I earn here or in the buying and selling of bitcoin and other alternate coins which sets a good return especially now that price of bitcoin is jumping and jumping with now reaching more than 13,000 USD wouldn't it be a great source of income in which you can cash out as your money.

Oppang Inamo
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December 07, 2017, 12:11:08 PM

Bitcoin does sounds money because btc is known but not by many, people thinks that btc is a money its because of the coin in the word bitcoin, so now btc is spreading and growing.
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December 07, 2017, 12:36:26 PM

It sound like a bank for me it is good to deposit your money in bitcoin rather than bank. Bitcoin was the future and fiat currency will defeat by bitcoin.

Sounds like a bank?? yes It can be but a guess the good term to be use is bitcoi s money because it is trully a money. A money frim the interne. Bitcoin already hep many people, So that was my Idea on bitcoin. Right now bitcoins price continue to increase so there is nothing to worry, I guess we must be thankful by giving this to us.

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December 07, 2017, 12:42:38 PM

If Bitcoin is considered illegal then why does it still exist today? Bitcoin is not a commodity, it is a currency. It is not under the control of any country, it is not controlled nor attacked. Its value is much larger than gold. It is not real, but its value is real, so many have become rich by it.

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Crypto4K
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December 07, 2017, 12:43:13 PM

It is a store of value. Not a currency.
By what means is money defined?

nagatraju
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December 07, 2017, 01:51:35 PM

bitcoin is a new currency that opens up new opportunities, and also that can serve as an asset...so there is a chance to make good money
Pompa
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December 07, 2017, 02:02:36 PM

For me I think maybe yes bitcoin sound money because many people in this world he wants to invest there money in bitcoin and  definitely its a kinds of bank
posoa
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December 07, 2017, 02:19:04 PM

Bitcoin is as important as Gold and it is a sound money. Bitcoin is very important in that it can be changed into currency and then be used. Bitcoin is a digital currency that its usage tends to be faster  in its usefulness to be used in trading online . And it is invested in  so that when the prices appreciates, the  investor can sell and make gain from the investments. Such gain is in  cash / money. In our own part of the country, you pay cash into the bank account of the person selling Bitcoin to you, which is a sound money to  the seller.It is a very sound money and there is no doubt about that.
deepika the crypto girl
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December 07, 2017, 02:38:02 PM

Definitely Bitcoin sound money, It's a digital asset which invented like what less than ten years ago, and now 1btc is worth $15,000. Lucky to see this
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December 07, 2017, 02:50:16 PM

Of course! There are certainly different kinds of money. Check, Cash in Banks, and other negotiable instruments are money. Well, in fact, Bitcoin is also one. How can we separate it as a money? Money is a mode of exchange to buy something you want, investing on what you want, renting on what you want, and so on. Through years of time comes by, with the generation of internet comes along, a new money has arise. Digital currencies. And one of it is Bitcoin. We can transact at anyways at any time even if we are so far from what place we want to pay. Without any energy lose in your body. Well, that is my opinion about bitcoin as a money.

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siti25
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December 07, 2017, 02:54:54 PM

I still can not call bitcoin as money, only bitcoin does have a function that is almost the same as money. The main thing is when you can buy something with Bitcoin. But we do not buy money either, but bitcoins have to be bought with money, so I do not think bitcoin is money, but it works like money.


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Zabrielle
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December 07, 2017, 03:10:14 PM

It is sound money for me. Otherwise im not gonna work here if i dont earn. As far as i know people join bitcoin to earn. Earning means money. The reason we are into bitcoin because bitcoin is rising and the amount is getting higher. People are excited about it and they very hype about investing or even doing the trading. It is money for me. I am happy doing bitcoin because i am earning from it.
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December 07, 2017, 03:39:13 PM

No, but many are calling it as money.

Actually Bitcoin is far bigger, important and valuable than money. We must consider Bitcoins a commodity and investment tool/platform for future. But still bitcoin have ability and characteristic to be accepted as currency to give more transparent and clean environment to businesses.

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