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Author Topic: Is Bitcoin Sound Money?  (Read 28032 times)
Digitalbitcoin
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December 07, 2017, 03:39:13 PM
 #821

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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December 07, 2017, 03:46:55 PM
 #822

Bitcoin is very sound money. It will growing very fast and people like it very much.

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December 07, 2017, 04:44:44 PM
 #823

In today's generation bitcoin is money because many vendors and merchants accept bitcoin as payment.
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December 07, 2017, 05:22:07 PM
 #824

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.
I'm not trying to take it to the wrong way but, you might expressed Bitcoin in a very exaggerating way. First of all, anything that is considered illegal - exists. It doesn't mean that a 'thing' is illegal it does not bound to exist. Now here's the question, why did we consider a 'thing' illegal if it doesn't exist in the first place, we wouldn't have a problem at all then. Second, Bitcoin - being more valuable than Gold does not make that it is much better than Gold. You see, Bitcoin is volatile, its price could dump anytime, its not stable unlike Gold. Even though Gold is centralized, still it has a safe haven unlike Bitcoin, anything could happen. And lastly, its real, its just that its intangible. Ok, 'trust' is intangible, therefore we can't grasp it but it is real, you understand?


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December 07, 2017, 06:43:53 PM
 #825

Simple people that are not digging deep into blockchain technology can sure call Bitcoin money, as it can be exchanged for dollars and Euro. You can also pay with BTC directly for some services and buy goods online.

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December 07, 2017, 07:00:59 PM
 #826

at first i heard about bitcoin i just thought it was a kind of coin. if you are really not interested to dig deep about what is bitcoin you won't know how valuable it is.. well as all we know bitcoin is a digital currency, now that i know or learned more about bitcoin now it's sounds money to me because now i know how or what are the ways to earn bitcoin and it is profitable.
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December 07, 2017, 07:04:32 PM
 #827

Yes, bitcoin is really another kind of currency, decentralized, digital currency. Bitcoin sounds money because when you get it it might get converted into real money depending on which country you live on. Bitcoin can also be used by buying some items because there are online shopping that accept bitcoin.
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December 07, 2017, 07:08:05 PM
 #828

Bitcoin can be called sound money for there's nowhere BTC lags behind money...it can be transacted for hell lot of things and is also convertible in cash.
every one in this world has different opinion but bitcoin is first digital currency. alot of people ask that this is not money because they don,t have believe in it.Each user have different perspective and some prefer it to be a investment as it grows higher and higher periodically. and bitcoin is very unpredictable  because of the volatile nature which gives two different price for the same product depending on the price variation.but it is money because you can withdraw through your account as well and use it.

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December 07, 2017, 09:15:25 PM
 #829

Bitcoin can be called sound money for there's nowhere BTC lags behind money...it can be transacted for hell lot of things and is also convertible in cash.
Yes it is a safe and sound money that why everyone they are joining bitcoin around the world bitcoin have a lot of users and it increase every day because bitcoin is full of good advantages and it provide a very good source of income to the people in short time bitcoin make a place in heart of people and still bitcoin is trying to be on the top of all currencies because bitcoin is a good currency and in my opinion bitcoin is helping humanity.

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December 07, 2017, 09:17:05 PM
 #830

You can say it is safe somehow, however, anything is possible especially bitcoin price is volatile. It is true that bitcoin price can increase multiple times. However, there's a possibility that bitcoin price can go down up to thousand of dollars. Bitcoin can be used for a lot of things. It is convenient to have and it is profitable. However, remember that you should always invest at your own risk.

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December 07, 2017, 10:02:12 PM
 #831

Yes bitcoin sounds money because you can earn with btc although btc is a digital currency that enables us to transfer funds to other party without going to bank anymore.


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December 08, 2017, 01:14:20 AM
 #832

 Smiley   Anyway the bitcoin vs gold was talk anymore at debate it about this way.
For now on here it is ! Everyone knows more in bitcoin ,that bitcoin is available for buying anything, I can use it to pay bills ,I can use even if it's cash to replace anytime I need and where ever you are in the corner of the bitcoin world you are carrying it so you want the same gold when its value is high and it suddenly goes down .bitcoin will all be made easy instangenrous way to use it cost its value and is really both good for us to invest and speculation for everyone's volality..

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December 08, 2017, 01:19:24 AM
 #833

Yes bitcoin sounds money because you can earn with btc although btc is a digital currency that enables us to transfer funds to other party without going to bank anymore.
I think bitcoin is money but it is called a digital money because it only exist on the digital world and needs certain technologies to access it. Even though that is how it is, bitcoin has a lot of advantages compared to the physical money. As you said you can make transactions which is fast and easy all around the globe.
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December 08, 2017, 01:20:40 AM
 #834

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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Bitcoin is sound money in a sense that it is still money although digitized and you would have to encash it to really reap the benefits. HOwever as a sound income? I think it kight be debatable just because of its volatility and can be very hard to keasure

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December 08, 2017, 01:28:35 AM
 #835

Bitcoin has more functions than money. And bitcoin can be used to gain profit in trade, so we can make bitcoin grow more.

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December 08, 2017, 07:46:23 PM
 #836

Bitcoin has more functions than money. And bitcoin can be used to gain profit in trade, so we can make bitcoin grow more.
It has a lot of features and a lot of investors and traders are now using bitcoin for long time profit, it is good to invest than to trade in bitcoin because trading is a bit risky as compare to bitcoin investment. If a person will use bitcoin investing and trading at the sometime he will earn high profit, we can make bitcoin famous and it will increase the value and demand of bitcoin is this era.
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December 08, 2017, 07:58:38 PM
 #837

All I know is that I can use Bitcoin to buy things,
I can use it to pay my bills, I can pay cash at any time. So, as I see it, it's money.
Even more, things like Faisal can be bought and the price like gold can go up or down, while making Bitcoin easy for these payments; Near instant transactions and low fees, then as a price; It can both be good and bad due to the prediction of investor / physics.
christabits
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December 08, 2017, 08:10:07 PM
 #838

bitcoin is a sound  money that maintains its purchasing power, so that a dollar can buy a dollar’s worth of crap today, and a dollar can buy the same load of crap in the future because prices did not change
Zabrielle
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December 14, 2017, 08:09:50 PM
 #839

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.
Exactly! That is why we are all here Smiley I mean we want to earn, we want to work for a living. Bitcoin is giving us different opportunity to earn. There are plenty of ways how to earn here right? Then i heard people says “oh bitcoin value is up today or oh Bitcoin price is very high now” this sounds money for me. When you trade bitcoin, you deal about money. When you sell btc, it’s still sound money. People who are involved with bitcoin want to earn money, want to earn extra income and want to hopefully get rich i guess Smiley
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December 14, 2017, 08:19:00 PM
 #840

There is nothing wrong with investing a % of your total money in gold/silver/platinum. BTC has done great now for almost a decade, its been through alot and weathered every storm to come out the other side stronger but gold ect has weathered 1000s of years of human history filled with 1000s of storms. All the different cultures, empires and belief systems - gold still holds its value. The dollar ,euro ,GBP ect are all being devalued. But gold keeps value-   it wont make you anything like what has been witnessed in cryptos over the last number of years but its gonna be there long after any of us are around ! 

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