Is Bitcoin Sound Money?

[rickadone]

While the technical innovation of bitcoin was incredible I think the thing that makes bitcoin so valuable is something very simple, the limited supply, as time passes more bitcoin is available but less bitcoin is mined, that makes bitcoin even more scarce especially when we take into account, that many coins are probably lost forever.

Yeah the main reason that makes the Bitcoin that much valuable is the limited supply of the bitcoin, if it has a bigger supply than the current supply in the market then it will not be traded on such a high price with the fiat but this feature makes it precious. When the stuff is limited and it have some good qualities then we all know that its demand is high with which the prices also remains high.

[saenko]

While the technical innovation of bitcoin was incredible I think the thing that makes bitcoin so valuable is something very simple, the limited supply, as time passes more bitcoin is available but less bitcoin is mined, that makes bitcoin even more scarce especially when we take into account, that many coins are probably lost forever.

Yeah the main reason that makes the Bitcoin that much valuable is the limited supply of the bitcoin, if it has a bigger supply than the current supply in the market then it will not be traded on such a high price with the fiat but this feature makes it precious. When the stuff is limited and it have some good qualities then we all know that its demand is high with which the prices also remains high.

Some people have doubts that bitcoin has really good qualities. The problem of unconfirmed transactions remains unsolved and many will not like it. I think that it really hampers the full use of bitcoin as money

[kpcian]

I think so..
Since bitcoin is using as a transaction tools so it can be said that bitcoin is playing function role of money. Bitcoin also used as a saving and investing tools so day by day it's becoming one of the replacement of money. Not only that but also bitcoin is getting available and popular all over the world.  So...

[jayohby]

I don't think bitcoin can be considered money.

We have to consider it as an asset like gold, real estate, etc.

The conventional notion of money is fiat money, and unless that perspective changes, bitcoin won't be considered money.

Asset is better, its value goes up long term given its intrinsic value, which I think is much higher than its current price.

[heppot]

I don't think bitcoin can be considered money.

We have to consider it as an asset like gold, real estate, etc.

The conventional notion of money is fiat money, and unless that perspective changes, bitcoin won't be considered money.

Asset is better, its value goes up long term given its intrinsic value, which I think is much higher than its current price.

same think with me . i think bitcoin is not money . i prefer to bank . you can invest and take profit from it .

[sasaku bitbit]

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.

I think bitcoin is a kind of electronic or digital money in online market. Bitcoin doesn’t have exact value in market and its price is always changing due to supply and demand the online market. You can use bitcoin in any kind transaction in online like paying bills and many more so I think the bitcoin is money.

in my opinion that bitcoin is a digital currency in the online market but many benefits in everyday life today so the itcoin don't have exact values in the market and the price is always changing because the supply and demand market online. You can use the bitcoin in any type of online transactions such as paying bills and more

[ilovefeetsmell]

For me, when I hear bitcoin it sounds money for me. So what is wrong with that? I mean, I understand that people will not look bitcoin as money but what can I expect? I know bitcoin nowadays becomes higher and higher so it is really sounds good for me and Bitcoin for me is also Money for me. 

It sounds so good. Bitcoin is evaluated as money, we can;t do about that. Just accept the fact that it will also a  money. Its price increases accordingly on the demand and supply of the bitcoin or how many investors can be converted their money into bitcoin. It is such a good way and relief our worries of what gonna happen next to our bitcoin.

[speem28]

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.

I think bitcoin is a kind of electronic or digital money in online market. Bitcoin doesn’t have exact value in market and its price is always changing due to supply and demand the online market. You can use bitcoin in any kind transaction in online like paying bills and many more so I think the bitcoin is money.

Well, bitcoin really is a money online because it is a digital currency. From a person's point of view who doesn't have a single idea about bitcoin, they will think of it as a scam or something really bad but with a person who has knowledge about it, for sure they know that bitcoin is money. There is no arguing about that, even though the price of bitcoin is ever changing but in the long run, it's market cap is rising and rising as the years passed by and a lot of people earned a lot from bitcoin.

[Vika0170]

For me, when I hear bitcoin it sounds money for me. So what is wrong with that? I mean, I understand that people will not look bitcoin as money but what can I expect? I know bitcoin nowadays becomes higher and higher so it is really sounds good for me and Bitcoin for me is also Money for me. 

It sounds so good. Bitcoin is evaluated as money, we can;t do about that. Just accept the fact that it will also a  money. Its price increases accordingly on the demand and supply of the bitcoin or how many investors can be converted their money into bitcoin. It is such a good way and relief our worries of what gonna happen next to our bitcoin.

For me, bitcoin is not money. I do not buy for bitcoin goods. I use bitcoin only for investment. It's just a way to make money. Maybe this is due to the fact that in my country I can not freely buy goods using bitcoin

[Bellator]

Can you share in which country yo are where you can pay bills directly using bitcoins? I am guess you still convert your bitcoins to fiat before you even pay for anything. I have not heard of any service yet accepting bitcoins such as utility bills. Probably in Japan, because they made a law about bitcoins there.

there are some countries i think that accepted bitcoin, i have heard it in some other guys here in forum, ph i think accepted bitcoin as their payment in their bills i dont think if its true and if they convert it also. it is sound money because we can buy anything that we want using it. just like the real cash it can be use to pay our bills and buy our goods.

[MetalGear]

Yes bitcoin sounds money because bitcoin is an electronic money that can be converted to your money currency. On some stores bitcoin is now accepted as a money in change of the commercialized products that they have. Example is the starbucks, we can now buy coffee using bitcoins.

[gracia0023]

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

Yeah your right bitcoin never be a money that you can buy anything want you buy. But in reality in some countries bitcoin used to by there commodities through trading this crypto currency in the matter of fact bitcoin accepted in other country and their use it based on the necessary needs. Example bitcoin convert in to real currency of one state and the money their earn from bitcoin is used on for basic needs. Another is bitcoin has a value and every value of it has a corresponding used. Like gold and silver their are a value and the different of this two metal is accepted in the whole world as a real currency.

[wuvdoll]

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.

I think bitcoin is a kind of electronic or digital money in online market. Bitcoin doesn’t have exact value in market and its price is always changing due to supply and demand the online market. You can use bitcoin in any kind transaction in online like paying bills and many more so I think the bitcoin is money.

Yes exactly so do I. according to my understanding anything with which you can purchase and sale goods or services can be said as money. The other thing that we talk about is the value of the bitcoin is not stable and keeps on changing so it is not a big deal.

If we look into the stock market we will note the same feature in the fiat exchange value as well. Eg. the price of dollar keeps on changing on daily base when exchange with the Japanese yen or any other countries fiat.

[Cosbycoin]

Why will bitcoin ever be compared to gold or silver and Co?  Butcoin is a decentralised currency and extremely volatile which makes it either a good or bad investment, wherever luck falls on your side. It is high time we started looking at bitcoin as an easy way to transact globally rather than an investment. Gold is an asset with a future that is solely determined, we don't even know what's up with bitcoin tomorrow or near future.

You are right. I had gold for some years and a day came that I sold it at a higher value than I bought it. The thing is with gold you can be rest assured you have nothing to lose compared to bitcoin that you can loose much due to its volatility. I once bought bitcoin as a newbie at a huge price only for the price to start dropping drastically. I sold it out of fear of not loosing too much, and then after that, it started rising. Sure, I was a newbie and didn't understand how the cryptospace worked but at least I won't be that scared with gold.

I disagree with your statement. The truth is that no one knows for how long are they going to keep the gold and to sale again while in case of the bitcoin everyone want to keep it for a short term.

Those who understand the reality of the bitcoin will hold and some people have proved that before as well. When it comes to investment then you have to accept that you may sometime go through a bad phase. For example in my country the Gold price today is almost 18% low then it was three year before.

[bitllionaire]

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.

I think bitcoin is a kind of electronic or digital money in online market. Bitcoin doesn’t have exact value in market and its price is always changing due to supply and demand the online market. You can use bitcoin in any kind transaction in online like paying bills and many more so I think the bitcoin is money.

in my opinion that bitcoin is a digital currency in the online market but many benefits in everyday life today so the itcoin don't have exact values in the market and the price is always changing because the supply and demand market online. You can use the bitcoin in any type of online transactions such as paying bills and more

yes bitcoin is created as digital currency but we are hopeful that very soon it will also be use in local shops also. as in some places like Brazil Bitcoin is already using in local shops for shopping. may some other places also have shops who are accepting  bitcoin for shopping so we can say that bitcon s really money which can directly use for shopping must like USD or any other fiat currency.

[andrei56]

Honestly I don't care about the mainstream any more, I am using Bitcoin from 2011 or maybe 2010 and I am fully using it for my survival in the Internet I think that was the biggest step for me. I don't need any proof to get on this system I just know how it works and I believe in the system. I am proud that I use bitcoin and we are so good that we are here as a community. this community has lot of geniuses.

You are right, the mainstream media always arrives late to the party, in fact that is one rule that I follow, when something begins to appear all over the place then I know it is time to move to other markets, that is how I knew the real estate market was about to crash.

[AjithBtc]

Honestly I don't care about the mainstream any more, I am using Bitcoin from 2011 or maybe 2010 and I am fully using it for my survival in the Internet I think that was the biggest step for me. I don't need any proof to get on this system I just know how it works and I believe in the system. I am proud that I use bitcoin and we are so good that we are here as a community. this community has lot of geniuses.

You are right, the mainstream media always arrives late to the party, in fact that is one rule that I follow, when something begins to appear all over the place then I know it is time to move to other markets, that is how I knew the real estate market was about to crash.

Yeah, bitcoin is something a innovation that has started to rule the financial ecosystem. So more has started to move towards bitcoin based on their needs considering it as an currency and as different forms. Mainly an investment asset. As quoted it doesn't need to be mainstream, but the people need to believe the goodness.

[DOGE12321]

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 and gold share similar paths ... in a sense. In terms of investment, gold is a more continual investment. In other words, it is in continued demand and is not highly volatile. Bitcoin has shown promising signs of investment but is still highly volatile. It can be argued that Bitcoin is better for trading compared to investment.

Moreover, Bitcoin can be used to buy actual commodities. Gold does not do this. One would need to convert it to fiat before you can buy anything.

[Savemore]

For me, when I always hear about the bitcoin I always remember the money. Because bitcoin is actually a digital money and nowadays bitcoin is now using in daily transaction like the country of the Philippines. We are now using bitcoin as a daily payment.
 

[denny27]

To me, bitcoin is a side of my finance + supplement my company earnings. At first I did not knowed it yet, but one of my friends told me about bitcoin, I was very interested to know it more, and finally I'am making used to searching+mining it every day. And yeah, I can earn money from bitcoin sales like with what my friend are talking about. well, bitcoin is now part of my life + adds my company's finance.