Is Bitcoin Sound Money?

[farharhadi]

This is to be rethought that bitcoin is better than gold.
It's easy to transfer bnaget and gold is cheaper than bitcoin.

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[White Christmas]

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.

Exactly bitcoin now is like a money. I also not going to debate between bitcoin and Gold because the important thing in me is I Earned money from it where i can buy all things that I want and I can save it for my future. Bitcoin right now has a big part in me like you.

[Casabrandy]

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.

Exactly bitcoin now is like a money. I also not going to debate between bitcoin and Gold because the important thing in me is I Earned money from it where i can buy all things that I want and I can save it for my future. Bitcoin right now has a big part in me like you.

Same here ,i make it to a piont that I must put bitcoin in my schedule no matte how busy i am, for bitcoin helps me a lot financially.

[DoublerHunter]

If you are an average person and you didn't use computer or surf the internet that much then if you heard the word bitcoin, it is not that money related name because i think it is sound like a random name or a techie stuff but it is not that sound money because people didn't know that there is a possibility in the internet to create new kind of money and that is the cryptocurrencies.

[L00n3y]

Well if you're a old person that is not a fan of technology nowadays then I think when he will first heard about Bitcoin the term "coin" will be familiar to him but the term "bit" will be itchy. When it terms of sound then I can't say that Bitcoin sound as money, in order to understand the big picture behind it you must have some knowledge behind.

[zarintasnim]

Bitcoin and gold are two different things. Bitcoin is money and you can use anywhere . But gold you cannot use easily like bitcoin. Bitcoin rate increasing day by highly. Other than gold price is cheaper than bitcoin.

[liuqi]

Bitcoin and gold are two different things. Bitcoin is money and you can use anywhere . But gold you cannot use easily like bitcoin. Bitcoin rate increasing day by highly. Other than gold price is cheaper than bitcoin.

Confused because of post, Gold is well stock in all the countries, which is easily acceptable to get the fiats in the financial institution. Bitcoin is still need to be legal in your location to use it freely, until that gold would be positive. If you ask me for holding for long term. Definitely I would choose bitcoin due to it's potential and price value.

[RealSohan]

This means that it maintains its purchasing power, so that the cost of a dollar today's dollar goes down, and in the future it can buy a dollar in the same balance of values because the price has not changed. Theoretically, extra productivity means that the price will be lower, in bitcoin

[LuffyDMonkey]

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

For me bitcoin is a money. We can earn it and exchange to money. By earning bitcoins we can use it in our daily lives like paying bills, buying foods and our different needs.

[staff_1307]

The time will come, the generation will change and Bitcoin will become the most significant in terms of investments.

[Baby Dragon]

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 is a kind of eletronic and digital money so you can use it in any kind of transaction like paying bills and many more.Bitcoin is commonly in different country for there business so bitcoin is a money.

[Esphere.in]

Bitcoin is internally earned money that can be obtained from mining with this can not be printed as fiat money,
But can be disbursed as banknotes as legitimate payments.

That is called fair distribution of shares,if you are helping with the transactions then you will be getting a share of the pie,as long as people consider them as assets and are willing to pay a value ,it is a sound money,just like the way you evaluate any other currency.

[paned12]

Well of course when i hear bitcoins. Money will come first in my mind.

[Seville]

I think BTC is one of the soundest money ever invented.. But what makes people averse is its greatest weakness, ie: online exchanges

[Xester]

If you are an average person and you didn't use computer or surf the internet that much then if you heard the word bitcoin, it is not that money related name because i think it is sound like a random name or a techie stuff but it is not that sound money because people didn't know that there is a possibility in the internet to create new kind of money and that is the cryptocurrencies.

We are not talking about how people look at bitcoin but we are looking at the current condition of bitcoin. Bitcoin as it is does really sound money since bitcoin has a value and it can be converted to fiat currency or cash. When traders talks about bitcoin they are not just talking about a digital coin but it would mean profit and income.

[kintuull]

In my country bitcoin including commodities traded like gold and coffee. Bitcoin is not categorized as money. Money must be stable in order to be redeemed goods and services regularly from time to time. If the price varies then bitcoin is not included money

[bitbunnny]

I'm not sure that there is a country where Bitcoi is defined as money but it could definetely used as such. It has the real value mesurable in the real world for real commodities and services. But I'm not sure that it will be ever formaly accepted as money and regulated as such by governemnts. It lacks stability at first place to be treated as real money.

[makolz26]

I'm not sure that there is a country where Bitcoi is defined as money but it could definetely used as such. It has the real value mesurable in the real world for real commodities and services. But I'm not sure that it will be ever formaly accepted as money and regulated as such by governemnts. It lacks stability at first place to be treated as real money.

Here in our country we use bitcoin as one way to remit money by transferring it to other person, and we also use it as one way to pay our bills, it is so helpful but we are not yet considering it as cash, they are quite different. They differ physically and functions.

[orarider]

I'm not sure that there is a country where Bitcoi is defined as money but it could definetely used as such. It has the real value mesurable in the real world for real commodities and services. But I'm not sure that it will be ever formaly accepted as money and regulated as such by governemnts. It lacks stability at first place to be treated as real money.

You are conflicting in your own words, bitcoin is valuable in real life, and it will probably be accepted by the government, which has been happening in many countries around the world, and I believe That it will continue. People call it virtual currency, but its value is real, it is a digital product.

[Kelvinid]

Bitcoin,not just sounded money but it's really a money.People will not continue to patronize bitcoin if its only an ordinary online business.Bitcoin is amazing.It's extraordinary.