Is Bitcoin Sound Money?

[KesoNie]

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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Money is the thing that you buy everything.you can buy house or in worst case scenario it can buy people bitcoin is an online cryptocurrencies but you can exchange into alternative coins to convert in to money in your country and buy things, so for me bitcoin is similar to money

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[tiger2monkey]

A digital gold that are easier to store than physical gold. But in no way it will replace real fiat money.

[btcdiggingmaster]

Yes, slowly thing are changing according to the people usages because now countries are also giving green signals to retailerss that they can accept Bitcoin as one of the payments. So we use Bitcoin as money in local areas very soon when governments start accepting Bitcoins.

[rocketbits]

I think for the bitcoin debate with gold it is out of place, why, because bitcoin and gold have their own story. And have different fans. Very irrelevant. We know what gold is, and we also know what bitcoin is, both have their respective functions. And did not rule out a person who likes gold to follow bitcoin or it could be otherwise.

That is correct. Comparing bitcoin and Gold is like comparing 'the rock' from a 2 week old baby . And bitcoin.org even stated that bitcoin is still in its experimental phase. So really, no point in comparing..

My opinion is different in this aspect. I think gold cannot be compare with bitcoin, because with gold you can only use it and can save it in your locker.

It will never give you earning. On the other hand bitcoin can be used and it will also give you a handsome amount of money after some time when you want to sell out your holding bitcoin. So in this way I think bitcoin is far better than gold.

[Agamemnus]

Why not? We live in a digital age. Computer and networks are going nowhere, I think Bitcoin therefore has value.

[lovesybitz]

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 don't think that bitcoin is not considered a valid investment, especially if you are going to look at the value of it now. which is more than the value of Gold price. precious metals and silver. Bitcoin has a high value for now in the technology era, which means we are now in the digital generation in terms of payment online.

[sangster]

Why not? We live in a digital age. Computer and networks are going nowhere, I think Bitcoin therefore has value.

That is correct. However, even though bitcoin sounds money, people are holding it as an investment. The price of bitcoin is very high right now and it keeps increasing over months and months. Therefore, investors do not want to spend their bitcoin as money at all, they only want to hold their bitcoin for profit

[kpcian]

I think so...
Bitcoin is using as like a money nowadays. Bitcoin is not only a money but also it should be considered as a valuable asset. it has been used for the purpose of saving and investment. in recent times it has been added huge price value so that Bitcoin is becoming a popular platform across the world. Bitcoin is using also for the various types of shopping purpose so it is also called a money.

[eann014]

Yes it is sound money as every secure token thats good to measure a value with. That doesnt mean that bitcoin is a replacement of any other type of money. Usualy its the bad money that is so numerous and so widespread that it literaly wash out the market of other currencies, like fiat does.

Besides that Bitcoin is way to slow as an replacement for money.

Yeah, bitcoin is really good to have, we can save it from our wallet and it will be hard for us to spend all of it, I mean not that hard but it is really good to save bitcoin because of the value of bitcoin is increasing. Bitcoin really sounds money because we earn and save it just like fiat.

[Nakakapagpabagabag]

I think so...
Bitcoin is using as like a money nowadays. Bitcoin is not only a money but also it should be considered as a valuable asset. it has been used for the purpose of saving and investment. in recent times it has been added huge price value so that Bitcoin is becoming a popular platform across the world. Bitcoin is using also for the various types of shopping purpose so it is also called a money.

Yes bitcoin sounds money because there is nothing that money can do that cannot be done by bitcoin.  Can be use to pay bills, topup our phone and even tuition fees.

[millgates]

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

Actually bitcoin and gold are very similliar. Both of its are qualifies as money, there is only certain amount of its in the world. If it was too abundant everyone would have it and then its would have no value. Gold can be made into smaller unit and importantly the per unit value doesn't change when you brake it into  smaller piece/unit unlike diamond. But you can move bitcoin to any place on earth within minutes unlike gold.

[DaftAjax]

It does not sound money, it is money. Money is defined as something that is being used to transact. It is used by exchanging it into a service rendered or a product that is bought. That is the basic definition. However, in terms of being utalized as that, it is still far from as how the other currencies are being used. It is still more of an investment and yet to increase in demand as many people still do not have an idea about it. But sooner or later, many will and many more will follow.

It is true that money is being used in some sort of exchange into services or into goods but as we all know, Bitcoin is also currency, a digital currency to be precise. It does not do all the things that a fiat can do, something like direct transaction, paying bills using the Bitcoin itself, or paying transportation fees and stuffs like that. But as we consider the fact that it is created digitally we might wanted to also think that Bitcoin still has its flows (talk about its just new), it will still develop. That is why it is currently just being used as it should be. Since fiat is still needed in order for its value to be determined it will have to coexist.

[NoNetwork]

I think so...
Bitcoin is using as like a money nowadays. Bitcoin is not only a money but also it should be considered as a valuable asset. it has been used for the purpose of saving and investment. in recent times it has been added huge price value so that Bitcoin is becoming a popular platform across the world. Bitcoin is using also for the various types of shopping purpose so it is also called a money.

Yes bitcoin sounds money because there is nothing that money can do that cannot be done by bitcoin.  Can be use to pay bills, topup our phone and even tuition fees.

Actually there are many things that can't be done using Bitcoin. Setting aside those countries that have already accepted Bitcoin as means of payment since the majority of the world didn't agree with this, the explanation should be just a piece of cake.

For starters Bitcoin cannot be used directly, I mean if you eat in a restaurant they will still accept Fiat (cash) or credit cards (makes it digital but still a centralized currency). And to the fact that there are still many people who're not familiar with this kind of currency. And many people always say that you can now pay bills using Bitcoin? Well not exactly you see, you still have to convert it to the corresponding Fiat on what country you're in. What I meant to say is that we cannot use Bitcoin as Bitcoin. And also this is a strong thought that Bitcoin is not coexisting with Fiat instead it is still dependent in Fiat, since it determines the true value of Bitcoin, its like it is the exchange, it still doesn't have its own proper value as it should have.

[Freyya08]

Well, for me its a yes. Bitcoin is money. It can be converted to cash. It can also buy things online. And bitcoin is a good investment for the future. And in the near future as technology arises,  i hope that stores and malls will be also accepting bitcoins as payment.

[Sifat33]

Bitcoin definitely is stronger than gold and better than gold because.
1.It is easy to transfer
2.Mining is cheaper compare to gold

Yes you are right Bitcoin is better than gold.And also bitcoin is very good for investment.Anyone can get good interest in investment.And also bitcoin is very good earning way.Bitcoin have a very good future.Bitcoin transfer is very easy.Anyone can do it easily.

[Konthol Ngaceng]

Yes of course, with bitcoin I can buy anything just like money, bitcoin is easy to accept for online shopping and for direct transaction we only need no more than 30 minutes then bitcoin can we exchange with fiat money.

[Westinhome]

Bitcoin it sound money, because many bitcoin user are now doing to trade their bitcoin into money. So thats why bitcoin it sounds money, if you have bitcoin maybe you can pay all you want and the good for the bitcoin is the value is always change sometime it going rise but sometimes down.

[saffira]

Yes, For me bitcoin is money. Honestly, when I first heard about bitcoin, money comes first in my mind. You are earning bitcoin because, you can convert it to paper currency  which is money. You can buy things using bitcoin. And that is the reality, we are working for money..

[bigboi.chabba]

I think bitcoin sound money because every bitcoin has a corresponding value in money and the advantage with bitcoin is that its value keeps going up and up.
You can make bitcoin as one of your investments because you could earn more money from it especially if the bitcoin value will continue to rise up.
You could also get bitcoin without even buying some and that is in the form of signature campaign. You will be paid by bitcoin weekly by just posting in this forum.
See you could earn money in the form of bit coin without even investing any money out of you pocket.

[Bakemat]

I think bitcoin sound money because every bitcoin has a corresponding value in money and the advantage with bitcoin is that its value keeps going up and up.
You can make bitcoin as one of your investments because you could earn more money from it especially if the bitcoin value will continue to rise up.
You could also get bitcoin without even buying some and that is in the form of signature campaign. You will be paid by bitcoin weekly by just posting in this forum.
See you could earn money in the form of bit coin without even investing any money out of you pocket.

yes it is money because we can use it in our everyday needs, and especially it can be our source of income in our everyday use. other may said that this is not true but the thing is, we can have money and we can be rich by using this and by only hardworking with this one, in that case we will be happy for using this, every one is happy using this one thats why we need to be hardwork because this is money.