Is Bitcoin Sound Money?

[DarkIT]

No doubt about bitcoin, a very reliable currency for the future. Because once you have it you can turn it into real money according to the country you are in.

Well, i heard bitcoin like money. Well, basically bitcoin has a price, so sometimes I count it as money. Moreover, many people have admitted that bitcoin is the digital world currency.

[anylic]

gold is the precious metal used in jewelry production and exchange purchases in cash or in kind, and one can not determine the volume as well as its true value. Meanwhile, BTC offers the convenience of purchasing, exchanging a quick and convenient in the management of assets, investors can control the value and know the total supply of it. This shows that they can figure out a picture overview of profits they will get in the future.

[onrise]

Bitcoin has a value as against which something's you can exchange for . Well not 100 percent of the people are aware about Bitcoin and even if aware they do not deal with it . So well it is a form of money but not accepted worldwide or 100 % against anything wher Bitcoin lacks as compared to real currency of the country .

[Anegg]

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

Im not going to go into the gigantic heated debate about which investment is better, bitcoin or gold but I will tell you some of the factors.

1. Bitcoin is able to exchanged for value without being broken down, unlike gold which is purely an investment and can not be used to purchase other goods or services, unless being traded for fiat before hand.
2. Bitcoin is just simply more convenient than gold.

These are most of the many factors that make bitcoin a valid investment.

[stargroup19]

yes bitcoin is a great money for me. when i earn bitcoin and i convert my bitcoin any time in any currency . You can convert bitcoin in any currency. so it is most likely for me . Relay bitcoin is a great digital currency. Many country support bitcoin payments. many oil pump take payment via bitcoin.

[hajimasan]

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 just seen everything in this field whether we can make profit , but I know gold from childhood and didn't find a perfect way that how can we make profit in bulk like the Bitcoin .
So overall I understand that Bitcoin is more better .
Since in the recent we found that many of the new investors are feeling panic of down in the price , so they are not much in the favour to use Bitcoin , but still they want use Bitcoin in the future and even down in the price encouraging them to buy more .
Here I don't know exactly what the whole world understand about the Bitcoin but in my opinion it is that way of life where we can do everything without big restrictions and taxation , I mean totally use of own money in own ways .
here every fluctuation in the price of Bitcoin resulting into profit for me that is a cool things for everything if they can use there mind for this .

[(altair)]

No doubt about bitcoin, a very reliable currency for the future. Because once you have it you can turn it into real money according to the country you are in.

Well, i heard bitcoin like money. Well, basically bitcoin has a price, so sometimes I count it as money. Moreover, many people have admitted that bitcoin is the digital world currency.

As long as it helps me in my finacial needs, support my needs, bitcoin will always sounds money to me.
Like you can turn it to fiat when there's an emergency. You can buy and hold to have an investment to do a good profit. Then if you have trading or gambling skills you can make a good outcome. So bitcoin really sounds money like it can maximize your earnings.

[andrei56]

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

I strongly believe that bitcoin is like another currency, it depends on you how you call it, bitcoin is basically a form of money which value is increasing day by day. 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...

Among private users bitcoin has long been called money. But at the government level, bitcoin is not yet seen as money. It is more like a product, or some other asset that can perform some of the functions that perform the money

It is clear governments don’t want to call bitcoin money, because they are scared of it, but it does not matter if they do not want bitcoin to be money, that is the way people use it, that was the intention of the creator and bitcoin fulfills all the characteristics you will expect from money, so bitcoin is money.

[DoublerHunter]

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

I strongly believe that bitcoin is like another currency, it depends on you how you call it, bitcoin is basically a form of money which value is increasing day by day. 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...

Among private users bitcoin has long been called money. But at the government level, bitcoin is not yet seen as money. It is more like a product, or some other asset that can perform some of the functions that perform the money

It is clear governments don’t want to call bitcoin money, because they are scared of it, but it does not matter if they do not want bitcoin to be money, that is the way people use it, that was the intention of the creator and bitcoin fulfills all the characteristics you will expect from money, so bitcoin is money.

Bitcoin is a currency or money and the reason why government doesn't want to accept bitcoin as a money in their country is, bitcoin is decentralized and that is why they can't control it, so if they can't control something then they can't generate profits from it so it is a very huge help in people to secure their money but a huge loss in government if all the people in their country will use bitcoin so they are trying to avoid it by making laws against bitcoin and also banning it from their country.

[Dontme]

Ofcourse bitcoin is a sound money because it is a digital money and a cryptocurrency. You can even use bitcoin in many transactions like buying things online. People also are working to earn bitcoins as their salary online. That, we can say that bitcoin is a sound money because it has the attributes of a real money.

[icerose]

Ofcourse bitcoin is a sound money because it is a digital money and a cryptocurrency. You can even use bitcoin in many transactions like buying things online. People also are working to earn bitcoins as their salary online. That, we can say that bitcoin is a sound money because it has the attributes of a real money.

Its still more of an investment than money, people dont acquire bitcoin for the purpose of buying things they do it to see a rise in its price in the future.

[Natalia_Volkova]

I can say even more. Bitcoin are money. At the moment, the real currency is still widespread, but after 5-10 years nobody will remember about it. People will use cryptocurrency including Bitcoin.

[bravehearth0319]

Yes! it is absolutely money, because once the currency is being accepted whether online or convertible to all currency of the country that's what you called money, where bitcoin was like that situation.

[andrei56]

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

I strongly believe that bitcoin is like another currency, it depends on you how you call it, bitcoin is basically a form of money which value is increasing day by day. 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...

Among private users bitcoin has long been called money. But at the government level, bitcoin is not yet seen as money. It is more like a product, or some other asset that can perform some of the functions that perform the money

It is clear governments don’t want to call bitcoin money, because they are scared of it, but it does not matter if they do not want bitcoin to be money, that is the way people use it, that was the intention of the creator and bitcoin fulfills all the characteristics you will expect from money, so bitcoin is money.

Bitcoin is a currency or money and the reason why government doesn't want to accept bitcoin as a money in their country is, bitcoin is decentralized and that is why they can't control it, so if they can't control something then they can't generate profits from it so it is a very huge help in people to secure their money but a huge loss in government if all the people in their country will use bitcoin so they are trying to avoid it by making laws against bitcoin and also banning it from their country.

You are correct, but at the same time we need to understand that even if governments are necessary and certain amount of taxes are necessary the governments of this age have gotten too big and greedy, they will not stop until they are able to charge you taxes over anything and bitcoin is the first currency that gives the power back to the people of creating their own currency and governments don’t know what to do about it.

[bajing]

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

I strongly believe that bitcoin is like another currency, it depends on you how you call it, bitcoin is basically a form of money which value is increasing day by day. 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...

Among private users bitcoin has long been called money. But at the government level, bitcoin is not yet seen as money. It is more like a product, or some other asset that can perform some of the functions that perform the money

It is clear governments don’t want to call bitcoin money, because they are scared of it, but it does not matter if they do not want bitcoin to be money, that is the way people use it, that was the intention of the creator and bitcoin fulfills all the characteristics you will expect from money, so bitcoin is money.

I think what the government is really afraid of is not calling bitcoin is money but they are afraid bitcoin will be used for criminal activity like people will use bitcoin for money laundering.

[Crypto_trader87]

Yes bitcoin is money and for me bitcoin is the future of all payments and transaction all over the world this is the biggest opportunity for me to join hands with bitcoin as a future of money and payments im proud that im also a crypto currency lover lets spread this to all people around the world

[Manuj]

There's no need to overstretch the argument. How can we not consider bitcoin unsound when we can spend it to buy stuff and use it to exchange for our current money? Well, it is not as widespread as compared to our existing money because it is an online money.

[izanagi narukami]

Yes bitcoin is money and for me bitcoin is the future of all payments and transaction all over the world this is the biggest opportunity for me to join hands with bitcoin as a future of money and payments im proud that im also a crypto currency lover lets spread this to all people around the world

Unfortunately not all of my people can't experience bitcoin potential. As we know bitcoin able reach $2200 is a great achievement since they born.
More people keep interest on bitcoin but on other side my goverment still think bitcoin is a money for criminal so they still do not want to legalize it

[Lampaster]

Yes bitcoin is money and for me bitcoin is the future of all payments and transaction all over the world this is the biggest opportunity for me to join hands with bitcoin as a future of money and payments im proud that im also a crypto currency lover lets spread this to all people around the world

Unfortunately not all of my people can't experience bitcoin potential. As we know bitcoin able reach $2200 is a great achievement since they born.
More people keep interest on bitcoin but on other side my goverment still think bitcoin is a money for criminal so they still do not want to legalize it

Why do you need the legalization of bitcoin? That this will change. The philosophy of bitcoin is based on decentralization. As soon as the state will have an impact on the turnover of bitcoin it will lose the attractiveness and the price may fall. Better to let things remain as they are.

[AjithBtc]

Yes bitcoin is money and for me bitcoin is the future of all payments and transaction all over the world this is the biggest opportunity for me to join hands with bitcoin as a future of money and payments im proud that im also a crypto currency lover lets spread this to all people around the world

Unfortunately not all of my people can't experience bitcoin potential. As we know bitcoin able reach $2200 is a great achievement since they born.
More people keep interest on bitcoin but on other side my goverment still think bitcoin is a money for criminal so they still do not want to legalize it

Why do you need the legalization of bitcoin? That this will change. The philosophy of bitcoin is based on decentralization. As soon as the state will have an impact on the turnover of bitcoin it will lose the attractiveness and the price may fall. Better to let things remain as they are.

What you've mentioned is correct. Let is grow as it is, but in reality people expect a secured access from the government. Because different governments have different opinion on bitcoin usage. Some ban it and some provide limitations. What I suggest is just a legalization won't affect anything such as the decentralization and all. It just provides an freedom of usage from the government.