Is Bitcoin Sound Money?

[saschafx]

I would think about it to be seem income, income is in the stop, anything exchangeable for solutions and merchandise (which is the oldest and most standard classification). That is the case with bitcoin, which can be immediately used by way of numerous platforms, it really is not usable for almost everything yet, but it is still qualifies as money.

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[xBitHodler]

Yes, Bitcoin sounds like money. If you now what you are doing, you can still earn a lot of money before having bigger amount of Bitcoin is nearly impossible. Right now a mere citizen can't afford 1 BTC. It's a matter of time when 0,01 BTC will be also impossible to get without investing a lot in a mining farm or running a gambling service.

[pavelv3]

To me yes it is. The initial cause is gold has seen its excellent instances now it is time and period of new era who is searching towards the potential of globe. The gold is not that important as the technological innovation is. This is era of robotics and commence of new entire world with much more importance to binary language than the outdated time beer and horse rides. Bitcoin would be medium to pay everyone in in close proximity to foreseeable future and there will be a single region on the earth to unit and follow it. That is huge aspiration but it appears actual future.

[DaftAjax]

Obviously yes. It's value can be exchange to a specific fiat that you need and it goes higher and higher every year.

Well it is really pretty obvious but, your statement doesn't support whether Bitcoin really sound like Money. I'm sure that Bitcoin can be exchange in Fiat, but that statement already tells that Bitcoin is different from Money.

It is true that you can earn money through Bitcoin but, their concepts and role are not identical at all. I mean money is centralized currency while Bitcoin is decentralized; Money is not volatile unlike Bitcoin but, it can take that volatility into a positive account.

That is like what you've said, every year the price of Bitcoin is getting more and more valuable, thanks to being a exponential growth characteristic of Bitcoin.

[Al-Geron]

Gold on the other hand is a physical commodity that has the desired properties and usage that goes beyond its appearance. Even without the dollar value, it remains worthwhile. In fact we are talking both as investment, bitcoin still has room to grow and expand while gold can not grow much more. And of course we know which is better if we talk about it as a currency.

[Momoamzad]

I feel it like money. Because u can easily convert bitcoin to money at any time . so why I wouldn't tell it money?

[Jessica2009]

To my concept bitcoin is sound money ,since cryptocurrency is limited to 21 million bitcoins this establish limit is known, it is creating value in the currency , this is known as sound money.This maintains its purchasing power,bitcoin is sound money for the web,bitcoin has the potential to change society as much as the internet itself.Bitcoins are decentralized and open source, they remain free from political influances and centralized control.

[nomad1109]

I find this question very interesting, and I have been thinking about it a lot lately. What kind of valuation methods should one use for an asset such as bitcoin? I don't think there are any that fits perfectly right now. One could identify possible triggers for ups and downs and put them in a binomial tree to find the value from there, but I don't think it'd make very much sense. On another note, I'm afraid of the volatility of bitcoin. It shows that bitcoin is an asset that has a lot of speculators, and that makes it unfit for anyone that can't stand high risk. In my view the intrinsic value lies within the technology behind the currency, and the first movers advantage.

[xbl1008]

when i hear coin it sounds money but when i hear it first i think its a ponzi easy money scam or what that i did't take seriously but when i hear it most of the time i took a research about it and see that it is good when i read the white paper of satoshi i was amazed and immediately invested my money on bitcoins

[bce]

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

from what the forum sees about between gold and bitcoin I think it's just a matter of our belief in investing what it is beneficial to what it is obviously detrimental to me personally how we can detect and analyze whether the investment is profitable in the future if I think

[jakirtanvir]

I think it’s totally up to you, if you believe it that bitcoin works for me over the money then it’s sound like money. But if you are not then it’s just an online coin.

[sclmte]

Definitely yes it is, because it has a value. Bitcoin can be used to pay for goods,services and to pay people for their work. So it is considered as money

[bitalive]

Since 2009 Bitcoin has provided an alternative to traditional government issued money but as it is not accepted everywhere, you can say it's the future money as acceptance of bitcoin is increasing every day.

[dificanovi]

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

the equations of bitcoin with gold are both have prices that sometimes rise and sometimes fall, but bitcoin is much more profitable than gold. we can invest, then get a lot of profit. bitcoin also has a price that continues to rise every year.

[Ronaldcoin2017]

Well if we  pronouns bitcoin it is really not the same sounds as money but if we do have  bitcoin we can convert it into money.i think bitcoin is not a money it is really the way of making un expected money with the un expected time and date.bitcoin really works and help alot to those who are really suffering poverty arround the globe.

[gabmen]

Well if we  pronouns bitcoin it is really not the same sounds as money but if we do have  bitcoin we can convert it into money.i think bitcoin is not a money it is really the way of making un expected money with the un expected time and date.bitcoin really works and help alot to those who are really suffering poverty arround the globe.

Lol it took me quite a while to grasp what you said there at the beginning dude. I don't agree though that it's a big help to those sufferring from poverty as it's not bitcoin's job to do it. And the overly empoverished people would not likely have any access to the basic requirements to earn from bitcoin.

[jubayerjb25]

My opinion is, bitcoin is like as gold in internet because bitcoin is obtainable by mining and not be printed like fiat money . Bitcoin is a great piece of technology and an efficient virtual payment system and also alternative of banks. I am very much sure that in long run it will give me huge profits by storing and exchanging Bitcoins .If bitcoin value goes down but it doesn't mean that I will go to sell or convert in different coin because I have faith that the value will go high again. So i will hold it for a long time to make more profit with that same coin.

[CryForA]

For me, bitcoin is money, but at the moment I have to exchange it for Fiat, because it is poorly developed in our country. it turns out that this is something between goods and money.

[TomUyamot]

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.

[DoublerHunter]

Bankers are saying that bitcoin cannot be treated as a sound money because of its very volatile value. This the primary reason why people are choosing to horde and hodl bitcoin rather than spending them. But there are also people who are spending their bitcoins. I am also spending some every now and then but very minimal amount.

It doesn't require your to have a money that is stable or have fixed value because even bitcoin is volatile, it is still considered as money. Bitcoin has a lot of advantages and disadvantage and volatility can be both because if you are an investor then you will treat it as an advantage while if you are a businessman and plan to accept bitcoin then it is a disadvantage because you have a chance to lose some profit if the market goes down.