Is Bitcoin Sound Money?

[slaman29]

It really depends on who you ask although today, I'm sure 9 out of 10 people out there won't consider it so. Even among finance people, there is a huge disagreement about crypto in general in terms of it being "sound money". That's not a bad thing for a currency less than 10 years old:)

[hawthelegend]

If it were me, i wouldnt compare gold to bitcoin. Coz if a lot don't realize it yet, they are 2 VERY DIFFERENT things. And both obviously have their own positivities and negativities. but in my point of view, bitcoins have a bit of advantage. But it doesnt mean that it can replace gold itself or gold can replace what bitcoin is today. They are two very different things but can be used together for the better.

This is just my own perspective tho.

[hurain]

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.

there are so many other ways of earning bitcoin and the best way is trading alt coin, from trading altcoin one can really make good profit. by investing in ICO one can even get more chance to purchase an item n ICO  at cheep price but for that you need to have good study about these ICOs.

[KnightElite]

For me the bitcoin sound money. I always imagined the money when I always heard the word bitcoin. It always pump up in my mind. I know the reason because bitcoin is a money.

[Jantapw]

5 years from now... i would say yes it is sound money....

[erickkyut]

all I know that I can use Bitcoin the way I used money except that it has no physical appearance. I'm using it to buy things, for my investments, for money remittance and many more things we used to do with money. I think Bitcoin will be the future money.

[DevilSlayer]

I don't think so. But I know for every people bitcoin is sounds like money. Bitcoin is digital money so it is money. Bitcoin is now using in daily payment in some countries.

[abel1337]

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.

[malami]

I would like to think of bitcoin as sound money but with the current issues and high transaction fees I can only see it as an asset similar to any other assets I own.

As it is right now its only useful to earn money and an exchange is always required to do anything useful with it.

[Shenzou]

I pretty much think that bitcoin is a lot silillar to gold right now, much like gold people used to use it for transaction pay with it treat it like it is a currency but over time with the value increasing it become more of an investment that people rush to buy it and save it and wait for the time when it has a very high value so they can start profiting out of it.

[Lorence.xD]

I pretty much think that bitcoin is a lot silillar to gold right now, much like gold people used to use it for transaction pay with it treat it like it is a currency but over time with the value increasing it become more of an investment that people rush to buy it and save it and wait for the time when it has a very high value so they can start profiting out of it.

Totally agree with that because the bitcoin now for me is sounds of "investment" because the bitcoin is still growing and as long as many are supporting the bitcoin in terms of buying it, it means that the bitcoin price will still grow so I think that is the reason sounds like investment for others or making money term.

[akirasendo17]

for me bitcoin is money, because i can use it to buy things and i can do transaction with it, and if somebody ask "is there are any similarity with gold or other precious metal?", i dont think so, but as an investment bitcoin is a good option, but to compare it with gold, I think its two different things

if you can use it to pay bills etc its money to no debate about it

[djtas bitbit]

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

actual problems that occurred in doubt because the transaction confirmation bitcoin failed terselesai and fragmented because it is so completely hindering users a bitcoin as money, so not all have the same problem

[lionheart78]

It really depends on who you ask although today, I'm sure 9 out of 10 people out there won't consider it so. Even among finance people, there is a huge disagreement about crypto in general in terms of it being "sound money". That's not a bad thing for a currency less than 10 years old:)

If you ask people who are never been involved in cryptocurrency then they surely have a different point of view.  I guess the answer here depends on peoples perspective. If you ask those who had taken advantage of the opportunities that cryptocurrency then they will agree that crypto is really a sound money else, if your audience as I said is non knowledgeable of crypto then they will have the opposite answer.

[Eclipse26]

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.

Yes it is. bitcoin is a money because you can used it to buy things that you want, things that you need or even in paying your bills. You just have to convert it into fiat because even bitcoin consider as a money they still didn't accept it as a payment.

[haroldtee]

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.

I was almost going to ask how you achieve all that with low fees until I saw the date this was posted. Sure! Bitcoin is like money as long as we all keep transacting with it in any form. Nevertheless, using bitcoin just for anything now, most especially micro transactions ain't worth it due to the current high fees but as long I still keep using it for higher bills and the value compensates me, then I have no problem.

[Panda Trump]

Bitcoin is like money, but volatile and digital..

You could compare sailing in sea in a storm and at regular weather. In a storm you go down and up fast and it's harder for others to steal things from you. In clear weather, they could just easily come to you, aswell as you're just sitting still on the ocean...

[cruz49]

Bitcoin sound money?,,, Way back 7 years ago bitcoin is just a cent of $ but in this year the bitcoin price hits the biggest value of price itself we can call it a money or it sound a money for all of the bitcoin holders though some of the people get mad of bitcoin because they don't even buy it in a low value so their mind just accept that bitcoin will decrease and dissoilve,,, bitcoin is sound money it is an internet money.

[joganuts]

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.

Technically bitcoin does have value and price so I agree that bitcoin can used to buy things. So in terms of value and price bitcoin is not just sounds money but a money itself. Bitcoin is a crypto-currency and if we going to analyze its meaning it is a currency which can be used through internet or web. It is not just a money but i also do believe that it is a way better money. In fact bitcoin makes transaction easy and reliable where it develops the common mode of transaction. And bitcoins price changes so it is a development for most of the people.

[nejibens]

Indeed it is money, in fact I dont see any difference between Bitcoin and any other currency , making trades with Bitcoin is just as simple as using fiat, and in addition you can convert it anytime to whatever currency online.