Is Bitcoin Sound Money?

[jwenbu]

Absolutely yes. Bitcoin is like a money. As long as you know how to earned and used it. It's like money that you can buy and exchange it into real money. We earned it by working and investing, if you know how to handle it like the real money its a big chance to become rich.

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[boboi]

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.

[zitao]

I don't understand why people keep comparing gold to bitcoin within the context of currency. Gold hasn't been used as currency for over a hundred years. People wear gold and the buy it to keep as an investment (store of value). When was the last time you saw some one buying something with gold coins? The only reason gold coins are made is for investment purposes, it's nostalgic to have it in an actual coin form.

Further gold is a metal. Bitcoin is electronic, not tangible, it's different on so many levels.

[bakulsandal21]

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.

[bts378]

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.

[kobop]

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.

[Boknoyz]

I see bitcoin as my money now. I am earning bitcoin and converting it to our local currency when I am needing a money to spend. If we see a user that is having a large quantity of bitcoin we say that he/she is rich because his/her bitcoin is convertible into local currency and turn into money.

[rainezerr]

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

In my own opinion, bitcoin and gold should not be compared because gold is not obtainable by any person so there is no way that anyone could be rich just by investing gold while on bitcoins, anyone can invest if they think they will earn profit after a few days so its seasonal as well but for me bitcoins will be always better than gold.

[Xester]

yes, bitcoin is sound money, because you work before you can achieve it, in anywhere you thing think it either you invested or use other means (like running bounty program) you can't have it, so to me bitcoin is sound money because you work for it before you can be an own of it.

And actually bitcoin is money but it is only done online.   We are here because we wanted to earn bitcoin amd change it into cash or fiat to buy things that we need and want.  I make earnings with bitcoin to have an extra source of income.  Relying only on my salary will not make my life a comfortable one.  

[lamcouz]

Yes, its true, because many people have become rich due to bitcoin. They have done investments and have just waited for several years. But now it's not too late. Bitcoin is always increasing and your can get a good profit.

[sampoer23]

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

I think bitcoins are standing by all the profits and lack of the other side that predictable can change the future.
On the other hand, when no one will be responsible for bitcoin's weakness, which makes bitcoin unsaid as a tool of transaction with so many different than gold

[jakirdj95]

Bitcoin will be better than gold because every year price increasing. it also has created a strong ground where
 people are going to be connected with this system, from my point of view is that since bitcoin is using as a payment tool in many ways, so bitcoin can be considered as a money.
as tha technology goes on tha brinks of reaching tha digital world,cryptocurrencies like bitcoin is tha best bet we have that will deal in digital transactions. tha increase will continue to grow because of tha continues demand. tha legalization of class a countries to bitcoin is a huge step and a sigh that it's a acceptance as a payment is being recognized by tha world.
any bitcoin payment gate way gives you at least tha option of receiving  first instant of bitcoin.

[potzpotz]

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

Yes everytime bitcoin sounds money as always, I love and enjoy doing bitcointalk forum

[khai29]

definitely yes, because when you have a bitcoin in your hand you can sell it to become money,thats why bitcoin is same like money but not the same value.

[Mandoy]

yes, bitcoin is sound money, because you work before you can achieve it, in anywhere you thing think it either you invested or use other means (like running bounty program) you can't have it, so to me bitcoin is sound money because you work for it before you can be an own of it.

And actually bitcoin is money but it is only done online.   We are here because we wanted to earn bitcoin amd change it into cash or fiat to buy things that we need and want.  I make earnings with bitcoin to have an extra source of income.  Relying only on my salary will not make my life a comfortable one.  

I do agree with your statement that bitcoin means money since it has a dollar equivalent. Having jobs online that pays bitcoin is very convenient since without leaving the home you can actually earn bitcoin. And actually it is much easy to earn bitcoin on online jobs than to earn dollars. With bitcoin paying jobs online my life is debt free.

[natalagerman95]

I think that bitcoin is considered a full-fledged money because I just bring them out in real money and use them for my own pleasure.

[ShiroThe5th]

Bitcoin is a crypto currency. Currency is a something tonusedbas a money. So bitcoin is a new type of money or a actually a money. Crpto currency is a virtual money online. It is also called as a money because you  can buy or use it in different things like the other currency do.

[thompson30]

Hmm. In the first place yes it sounds like money because when someone heard it they always say that it is money

[beezare]

for me, bitcoin is money because I can buy something using bitcoin and I can also exchange bitcoin into the official currency

[Ailmand]

I don't understand why people keep comparing gold to bitcoin within the context of currency. Gold hasn't been used as currency for over a hundred years. People wear gold and the buy it to keep as an investment (store of value). When was the last time you saw some one buying something with gold coins? The only reason gold coins are made is for investment purposes, it's nostalgic to have it in an actual coin form.

Further gold is a metal. Bitcoin is electronic, not tangible, it's different on so many levels.

Well, they compare it with money and gold because cryptocurrencies also have the capacity and characteristic of a currency, which you can use as a medium of payment. As the legend of pizza in the Bitcoin world have shown that there was one person who bought a box of pizza for an insane amount of bitcoin. That shows that it can be used like any other money. But, since the premise is soundness, I don't think that right now, it is totally sound. Its value kept on changing and the changes are quite extremes. That factor contributes as to why many people are iffy about truly embracing it.