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Author Topic: Is Bitcoin Sound Money?  (Read 28122 times)
Paopao
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February 08, 2018, 12:30:03 PM
 #881

I would think of it as income, stop income, something that can be redeemed for solutions and merchandise (which is the oldest and most standardized classification). That's the case with bitcoin, which can be used on a variety of platforms, but is not widely used, but still qualifies as money.
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February 08, 2018, 01:05:17 PM
 #882

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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Gold known as the noble metals, "noble" because they stand apart, barely reacting with the other elements which is important for criterion of a currency. Gold has been using as a form of currency for a long time but it is not the same for bitcoin, we have been buying bitcoin, what do we have besides that. If we buy gold we have physically the gold itself which makes it strong, but currently we have xxxdigit cyripto numbers when we buy bitcoin. Will this be enough to secure it?

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February 08, 2018, 01:50:59 PM
 #883

Like gold,bitcoin is used as an investment.It gives more returns than gold.It has been used as a currency in early stages.But now,after its price has increased very high,it is mostly bought as an investment.In the same time,it is also used to buy products mostly online.In future,if transaction fee problem is solved,it would be even used to buy daily need products.
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February 17, 2018, 09:05:25 AM
 #884

Bitcoin is a digital currency or an online currency. it can not be touched, therefore, these bitcoins can be transferred through exchanges and only then translate into real money dollars or rubles
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February 17, 2018, 09:13:26 AM
 #885

   

   For me bitcoin is not a sound of money. Its real a money for me literally. Bitcoin for me is a kind of business. When say business its talk about income or earning money.

You are definitely right about that. But before it became a literal or real money, it process into an exchange and transfer it into a real money.

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February 17, 2018, 09:16:34 AM
 #886

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 an investment, a stock and yes, it makes good money but for me the definition of sound is stable and that is an adjective that is very hard to identify with Bitcoin due to its volatility. However, I can honestly say that if you are a good trader or even working very hard on how you trade and buy and sell your stockes then I think that bitcoin is good money for you and me and for everyone else







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February 17, 2018, 09:23:14 AM
 #887

Each of Gold and Bitcoin has their advantages and disadvantages even up till today. In as much as bitcoin is more flexible and easy to use, it also has that value as a means of payment. However, bitcoin is highly sensitive to news which could lead to one losing thousands of dollars.

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February 17, 2018, 09:30:53 AM
 #888

Bitcoin sounds money, it can be used in exchange for goods and service, it is tenable in the market, there is nothing money does that bitcoin can not do,
it none or less money
For me bitcoin is indeed a money in a sense of digital money. Since not all country around the world already accepted bitcoin as a legal money so It can be exchanged into fiat so we can used it in our daily life. But there's also some countries who legalized bitcoin so there we can found that bitcoin is used to exchange goods and services.

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February 17, 2018, 09:32:05 AM
 #889

Kinda old question and people are still replying to it lol Smiley Bitcoin is more than money now , live with it or go away.

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February 17, 2018, 09:40:22 AM
 #890

I would not go into more of technical and complicated aspects differentiating bitcoin to other commodities.  All I know is that it gives me instant financial stability because of its capacity to give me earnings.  It can do almost exactly like money though you cannot spend it to physical stores especially those which do not accepts bitcoin.  Through bitcoin I can buy, sell, trade, and invest it even for a little amount of it.  Unlike if you would invest using cash, it would take like $100-$500 for an investment.
I agree on you you cannot differentiate money to bitcoin, they're the same function you can both buy the same thing bitcoin is a digital currency while the money is actual however you can both use as your payment...
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February 17, 2018, 09:44:05 AM
 #891

For me yes because Bitcoin has a value if you hear Bitcoin in any person you will automatically think that it is money if you know what is Bitcoin because Bitcoin price is so huge and gets Bigger and Bigger as the time go by you can sell or invest in Bitcoin to earn money and make it your work to be rich and when i hear everything about Bitcoin i always think it is about money.
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February 17, 2018, 09:53:01 AM
 #892

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.
Bitcoin is supposedly a money, this is a digital currency that you instantly earn by networking to buy your stuff, gold is your investment comes from your hardwork if you need money you had to pawn this first so it becames a money so this both are usefull as your payment...
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February 17, 2018, 09:53:26 AM
 #893

the word coin is already sounds money then why you have to ask that in this furom. i think before they invented bitcoin they are already thinking that it would nice if the sound of this digetal currency is sound like money so that more easy for an ordenary people understand the fact that this is a money.

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February 17, 2018, 10:10:01 AM
 #894

I would not go into more of technical and complicated aspects differentiating bitcoin to other commodities.  All I know is that it gives me instant financial stability because of its capacity to give me earnings.  It can do almost exactly like money though you cannot spend it to physical stores especially those which do not accepts bitcoin.  Through bitcoin I can buy, sell, trade, and invest it even for a little amount of it.  Unlike if you would invest using cash, it would take like $100-$500 for an investment.
For the first place bitcoin can produce you a money you can earn here more money by posting, trading, marketing, especially investing why do we still asking that it sounds money apparently it is you cannot differentiate it to other money that we use now coz they had the same function and each value...
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February 17, 2018, 12:35:37 PM
 #895

Bitcoin in its current state is an asset, its not money in any shape of form. It can be used for a limited amount of purchases sure but all those purchases are based on exchanging into fiat, in other words its still not real money but has the potential to be in the future.
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February 19, 2018, 12:43:49 PM
 #896

Investors have been debating about bitcoin for a while, saying that it's worth more than gold, and more than many things, that it's more desirable than gold. Of course gold is material, but it's price is much lower than the price of bitcoin.
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February 24, 2018, 02:32:06 AM
 #897

first of all the video linked is unavailable
and BITCOIN is like the gold alternate in the internet
this became popular because of those investors who is popular well known CEO's are being involved and holds most of them
that adds to the popularity now of COINS

bitcoin will be money for those who needs and have crisis in money
but for me it is alternative money too

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February 24, 2018, 10:24:21 AM
 #898

no. it is not.. it is true money.. because lot of people are earn profit from BTC. they got more income in BTC. according to that i can tell BTC is NOT SOUND Money.
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February 24, 2018, 10:38:14 AM
 #899

We can see that bitcoin can be used as a medium of exchange, it proves that bitcoin does serve as money. We can also see that bitcoin can actually serve as a long-term investment tool. So it can be concluded actually bitcoin is more than just money and investment.

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February 24, 2018, 10:39:30 AM
 #900

Yes bitcoin sound money because bitcoin is a currency, digital currency and you can use bitcoin in any stores or you can use bitcoin to purchase some items and to invest it.

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