Is Bitcoin Sound Money?

[Labay]

I don't understand why people keep comparing gold to bitcoin within the context of currency. Gold hasn't been used as currency for over a hundred years. People wear gold and the buy it to keep as an investment (store of value). When was the last time you saw some one buying something with gold coins? The only reason gold coins are made is for investment purposes, it's nostalgic to have it in an actual coin form.

Further gold is a metal. Bitcoin is electronic, not tangible, it's different on so many levels.

actually you get it i dont know too but they are still comparing it gold cannot be bitcoin anymore so why they believe that bitcoin is better than gold?

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[LordDisick]

Yes bitcoin is definitely money for me. Every time I got bitcoin through signature campaign I usually converting it to our local currency and transferring it to my local bank. Then withdraw the money to buy things and pay our bills.

[Westinhome]

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..

But they some store also accepting bitcoin, i do not what name of the store but the tell in this forum that there was a store accepting bitcoin. And thats good for bitcoin they give us a opportunity even if we dont have job yet we earn money for doing bitcoin.

[ABIR HASAN]

Absolutely bitcoin is money.Bitcoin has the potential to make a future with in it.we can convert into a real money.so everybody has it.,

[Bestwishes745]

Yes bitcoin is definitely money for me. Every time I got bitcoin through signature campaign I usually converting it to our local currency and transferring it to my local bank. Then withdraw the money to buy things and pay our bills.

Yes that is right. Any person who will find it easy to convert bitcoin to cash will find it the same as cash as I am considering it. In the start it was hard for me to convert them to fiat as I was not much aware about the exchanges of it and I was not aware that how to buy it from my fiat and how to convert them back to fiat to my bank accounts so at that time I was thinking them as some points or credits of bitcoin and not money while after that when i learned i then started to use then conveniently like other currencies and they are now totally money for me.

[deejhay]

I think its because many believe in the value of bitcoin. You cant see it, you cant touch it but it has price because many people believe that it has and continue to use it. Theres no question in gold and we all know that it will still be the most valuable and wont phase out but were in tech age, so currency can also evolve.

[Ibrahim60]

Tha generation will charge and bitcoin will become the most significant in terms of investments.

[albertvert]

Tha generation will charge and bitcoin will become the most significant in terms of investments.

Actually speaking bitcoin crossed this one.what I am saying is Upto now the bitcoin became a sound money. But this thread ask whether bitcoin is sound money or not.The price of bitcoin only is enough to answer this question. Bitcoin is the king of all altcoin. You can inverse in a sound Money.

[Raven91]

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

yes bitcoin sounds moneymBecause in bitcoin you can gain so much money and with bitcoin you can enjoy yoir leisure time because uou can be productive and effective with your leisure time.

[DaftAjax]

Tha generation will charge and bitcoin will become the most significant in terms of investments.

I think you're exaggerating the situation here. There are so many things that can be used as an investment not just Bitcoin or any other currencies. You see, can still invest in gold and still have pretty good profit out of it.

And even if that will happen I don't believe that the generation will change just like that.

[Nyenyepogi]

For me bitcoin is a cryptocurrency so i think bitcoin sounds money becuase if you have a lot of bitcoin you can convert it into a real money and you can use this to pay your bills and debts and or if you want to buy stuffs you can youse bitcoin so bitcoin is a money.

[Sidas_Crew669]

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

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

It's not secret that bitcoin is indeed created to be the currency, but the specific only for money bitcoin digital. It is proven by the absence of bitcoin in physical form, coin bitcoin scattered into the offline world is merely a symbol and is not 100% original bitcoin. So, for now the thing that indeed we should do in the bitcoin is by providing as much information as possible, so that more and more users are interested in and eventually we will get great benefits.

[Agamemnus]

For me bitcoin is a cryptocurrency so i think bitcoin sounds money becuase if you have a lot of bitcoin you can convert it into a real money and you can use this to pay your bills and debts and or if you want to buy stuffs you can youse bitcoin so bitcoin is a money.

Bitcoin is sound money because of its immutable ledger and it's scarce supply. It will naturally become the worlds reserve currency.

[FJNuñez]

For me bitcoin is a cryptocurrency so i think bitcoin sounds money becuase if you have a lot of bitcoin you can convert it into a real money and you can use this to pay your bills and debts and or if you want to buy stuffs you can youse bitcoin so bitcoin is a money.

Since the blockchain is the ledger that keeps track of bitcoins and that can't be changed no matter what, plus it's scarce you now have the  best form of money ever.

[Lintel]

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.

yeah I agree with you. I don't want to go further about the debate . for me bitcoin is sounds like money because it is a cryptocurrency. I can pay bill through bitcoins and I can convert it to cash anytime I want to buy stuffs and use in anything I want to buy. so for me I consider It like money. It just sometimes the value is decreasing or increasing but nowadays the value ot bitcoin keeps increasing which is a good thing for us.

[balakang00]

Definitely it is a sound money. It is very known by many and is used on different transactions. It is widely accepted and is used as payment to some dues. In the long run it will be accepted to be a payment on anything and everything under the sun since it is now step by step.

[NoNetwork]

I don't understand why people keep comparing gold to bitcoin within the context of currency. Gold hasn't been used as currency for over a hundred years. People wear gold and the buy it to keep as an investment (store of value). When was the last time you saw some one buying something with gold coins? The only reason gold coins are made is for investment purposes, it's nostalgic to have it in an actual coin form.

Further gold is a metal. Bitcoin is electronic, not tangible, it's different on so many levels.

actually you get it i dont know too but they are still comparing it gold cannot be bitcoin anymore so why they believe that bitcoin is better than gold?

Actually it is mate, if you analyze what is the current news about bitcoin vs gold you would've realized it already. I mean just months ago the only thing that makes Bitcoin better than gold is its availability since you still need to mine gold (literally) in order for you to get it, not only that you also need to process it before you really get your hands on 'the gold'. Whilst in Bitcoin its availability is easy, its just right around the corner. But now it is not just its availability but also its value that have its advantage over gold.

[uzumaki]

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 do not really want to argue about this but In my point of view gold is a beautiful metal that people love because the limited amount of these becomes very valuable there is only a certain amount of gold in the world if only the amount of gold so much that everyone has enough gold then gold becomes worthless anymore. so equal to the limited amount of bitcoins and the high demand makes the price rise.

[Shofiqul]

Totally, bitcoin sounds like money to me.It's more than a cash. It have an extensive variety of ways to deal with use it and more invaluable to use than paper money. I essentially appreciate the whole thing about bitcoin. Regardless of the way that it's not unmistakable at everything with the exception of rather I genuinely find it extremely amazing. Notwithstanding whether I can hold or considered it, to be long as I can use it to buy, pay bills, trade and contribute that will favor of me.

[gyu22]

More and more people have decided that bitcoin is sound money or would it be in the future. This is why it raises its value continously, despite the volatility of the last week, which also happened in the past. It is not only a promising currency that begins to be used to buy virtual products and services, it is also a tool place to park money, as good as gold or even better (everyone can have without high costs for secure it), and without the control of governments. More securety for its holders.