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Author Topic: Is Bitcoin Sound Money?  (Read 28008 times)
Shutup
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February 27, 2018, 05:58:40 AM
 #921

Yes bitcoin sound money. When l hear the word bitcoin it's like lm having money easily. Because bitcoin produces money. Once you work in bitcoin you have payments of bitcoin. That good thing here is you can join here as long as you know How to follow all instructions of bitcoin. It's really a surprising work because we can have a chance to be a millionare

Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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pat231
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February 27, 2018, 06:31:53 AM
 #922

Obviously bitcoin is money. According to my understanding, anything that can be used as an exchange is money and bitcoins are doing right now. People can even make money. Just take a sheet of paper and a nice logo on it. If your people accept it as a means of payment then that is money. And all of you will bear with me that people accept paid bitcoins on the internet so this means it is money.

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February 27, 2018, 07:33:18 AM
 #923

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.

If you are looking for stability, go for gold. But, in case of bitcoins, the risk also creates a possibility for huge returns.
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February 27, 2018, 10:44:37 AM
 #924

For me, it is absolutely yes because you can have money through having bitcoin, it can be converted into real life cash and money. It is just in the beginning that you will say that bitcoin is far away from money, but once you have gained some bitcoin, you will realize that it can be converted and you will also be rich because of it.Bitcoin sounds like money because of its growing usage, the usage of bitcoin is getting broader and broader, nowadays you can use bitcoin in different transactions like buying online and even paying in selected fast food chains.

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February 27, 2018, 03:30:03 PM
 #925

Bitcoin for me is the extra income I get from the internet, from bitcoin sales, I can earn money. Because of friends, I have extra income. At first I did not know anything, because my friend told me and wanted to share with me. and I am very interested and he wants to teach me, until I become like this.

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February 28, 2018, 05:08:45 AM
 #926

I will not tell you more technical and complicated ideas that distinguish bitcoin from other commodities. All I know is that it gives me instant financial stability because of its ability to earn me money. This can be done almost exactly like money even if you can not spend it on physical stores especially those that do not receive bitcoin. Through bitcoin I can buy, sell, trade and invest it.

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February 28, 2018, 05:12:55 AM
 #927

I think bitcoin isn't money, it's a kind of asset like golds or stocks. valuable assets that could easily transfer into money is the better definition for Bitcoin than telling it's money.
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February 28, 2018, 05:14:22 AM
 #928

As good as gold.... as long as someone else will take it in exchange for stuff.
proTECH77
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February 28, 2018, 05:33:40 AM
 #929

I really do not see bitcoin in this context, because it cannot be spent directly. It could be used to make transactions that involves buying and selling, but in the actual context of being used as money, it has to be first of all converted to fiat. So, it is actually seen as sound money when been converted.

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February 28, 2018, 05:39:39 AM
 #930

somebody say's that bitcoin is harmful because in every country it is banned but is very helpful now in our daily living and it's help our financial yes it's sound money because your capital is money here but if your money grow more profit well be get .

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February 28, 2018, 05:54:20 AM
 #931

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.

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February 28, 2018, 06:03:49 AM
 #932

somebody say's that bitcoin is harmful because in every country it is banned but is very helpful now in our daily living and it's helped our financial yes it's sound money because your capital is money here but if your money grows more profit well beget.
I sometimes wonder why some countries say Bitcoin is dangerous. Whereas we know Bitcoin very profitable for its users. Especially if we have a lot of Bitcoin, surely the benefits we get will be very big.

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February 28, 2018, 10:10:43 AM
 #933

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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February 28, 2018, 10:14:40 AM
 #934

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.

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February 28, 2018, 10:15:57 AM
 #935


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.

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February 28, 2018, 10:17:21 AM
 #936


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.

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February 28, 2018, 10:18:42 AM
 #937


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.
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February 28, 2018, 10:20:00 AM
 #938


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.

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February 28, 2018, 10:22:35 AM
 #939

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.

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February 28, 2018, 10:31:50 AM
 #940

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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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.

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