Is Bitcoin Sound Money?

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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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Bitcoins i can consider it money because it has a value just like gold they are not used as a monetary unit his time but it has a value. But you cannot compare them because they are very different from each other. Bitcoins are artificially and man made whole gold are nature wonders that man cannot replicate. The gold are physically while bitcoins are virtual but they are both good as an investment but i go for gold if it is for a very long time. Because bitcoins are just on hype but gold if it is lacked im the future the value will be expensive because we can be run out of gold.

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[Puroc]

Yup.....
Because bitcoin can be converted to money in many ways...
And like money you can buy things using bitcoin....
Bitcoin sound not only money but earning and savings too

[randal9]

Really, I think bitcoin sounds money because any money function can be done with bitcoin even I think is better than money, a lot of rules and limitations of money use, but the use of bitcoin is a remarkable thing.

it's really better than money and it's a pity that many don't understand this...bitcoin is better called an equity, because it increases your money when you invest in it

[takose46]

Yes, most of investor in bitcoin are looking for the profits , so it sounds money when you're talking about bitcoins with them.

[Nana99]

to my mind, bitcoin is gold in internet because bitcoin obtainable by mining and not be printed like fiat money

[VladG]

In my opinion btc is money, why?
When you can buy everything what you need with it yes sounds like money

[Webetcoins]

Really, I think bitcoin sounds money because any money function can be done with bitcoin even I think is better than money, a lot of rules and limitations of money use, but the use of bitcoin is a remarkable thing.

it's really better than money and it's a pity that many don't understand this...bitcoin is better called an equity, because it increases your money when you invest in it

Sure it is better than money because bitcoin is paying high and it is high in price as per now. Bitcoin is able to use for all kind of tasking that we use money for. Now we can buy things with bitcoin, we can pay for tuition fees with bitcoin and even our electricity and our gas bills we can pay with bitcoin very easily and it will save our time and will make us earn money also because all of it can be done just with a single click.

[oaz7t]

In todays date bitcoin is sound money
Bitcoin is a digital currency which can be converted to the currency belonging to your country
Even a few countries have started accepting bitcoins now along with some shops
The price of bitcoins keeps on increasing which makes it a sound investment too

[cmacwiz]

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 BTC is a sound money in present scenario
I guess it is much better and even more reliable than any other old investment. The inflating valuation of bitcoin has amused millions of people by leaving behind all its competitors. Earlier people use to invest into gold or silver but now conditions are changed and now BTC is capable of providing you such a huge profit than any other investment can provide and moreover few countries also started accepting BTC. So it is a wise choice to invest into BTC.

[ronremsey25]

Yes, Because this days when you hear of Bitcoin immediately you will think of money. Bitcoin is a other way of earning from your investment or trading some of it. Bitcoin can be converted to other currencies that is available to your country. So wherever you are, you can hear and access Bitcoin.

[Bloopran5679]

Trading Bitcoin isn't sound because it is risky being the volatile coin that it is. However, taking risks have perks since gains are of equal possibility.

[mylyn2327]

In todays date bitcoin is sound money
Bitcoin is a digital currency which can be converted to the currency belonging to your country
Even a few countries have started accepting bitcoins now along with some shops
The price of bitcoins keeps on increasing which makes it a sound investment too

No doubt of that bitcoin now is money, we can use now and do transaction via bitcoin. We do converted it in our country currency whenever we want. Bitcoin is a digital currency that can be used in many transactions such as paying bills, buying loads etc. In times now some countries allow bitcoin to be used in transactions and accepted by some establishment. And by its value that continuously increasing, no doubt bitcoin is a true money and a good opportunity for investment.

[coin_maker]

Bitcoin sounds money, it can be used in exchange for goods and service, it is tenable in the market, there is nothing money does that bitcoin can not do,
it none or less money

[Crypto4K]

It's way more volatile than our western world money. But it has the same functions if not even better.
The only problem we don't use it on a global scale is the issue of trust due to misinformation, the juvenile character of the asset/currency and the big boys (banks) who don't want that...
Search for "Bill Gates on Bitcoin" in Youtube!!!!

https://www.youtube.com/watch?v=dh0J1kmb6KY

[christina30]

   

   For me bitcoin is not a sound of money. Its real a money for me literally. Bitcoin for me is a kind of business. When say business its talk about income or earning money.

[Paopao]

I would think of it as income, stop income, something that can be redeemed for solutions and merchandise (which is the oldest and most standardized classification). That's the case with bitcoin, which can be used on a variety of platforms, but is not widely used, but still qualifies as money.

[newguy05]

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

Gold known as the noble metals, "noble" because they stand apart, barely reacting with the other elements which is important for criterion of a currency. Gold has been using as a form of currency for a long time but it is not the same for bitcoin, we have been buying bitcoin, what do we have besides that. If we buy gold we have physically the gold itself which makes it strong, but currently we have xxxdigit cyripto numbers when we buy bitcoin. Will this be enough to secure it?

[bembi]

Like gold,bitcoin is used as an investment.It gives more returns than gold.It has been used as a currency in early stages.But now,after its price has increased very high,it is mostly bought as an investment.In the same time,it is also used to buy products mostly online.In future,if transaction fee problem is solved,it would be even used to buy daily need products.

[yana0901]

Bitcoin is a digital currency or an online currency. it can not be touched, therefore, these bitcoins can be transferred through exchanges and only then translate into real money dollars or rubles

[Magic Sarap]

   

   For me bitcoin is not a sound of money. Its real a money for me literally. Bitcoin for me is a kind of business. When say business its talk about income or earning money.

You are definitely right about that. But before it became a literal or real money, it process into an exchange and transfer it into a real money.