Is Bitcoin Sound Money?

[TheGodFather]

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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Bitcoin is an investment, a stock and yes, it makes good money but for me the definition of sound is stable and that is an adjective that is very hard to identify with Bitcoin due to its volatility. However, I can honestly say that if you are a good trader or even working very hard on how you trade and buy and sell your stockes then I think that bitcoin is good money for you and me and for everyone else

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[sirkings0003]

Each of Gold and Bitcoin has their advantages and disadvantages even up till today. In as much as bitcoin is more flexible and easy to use, it also has that value as a means of payment. However, bitcoin is highly sensitive to news which could lead to one losing thousands of dollars.

[Souldream]

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

For me bitcoin is indeed a money in a sense of digital money. Since not all country around the world already accepted bitcoin as a legal money so It can be exchanged into fiat so we can used it in our daily life. But there's also some countries who legalized bitcoin so there we can found that bitcoin is used to exchange goods and services.

[hoodi]

Kinda old question and people are still replying to it lol Bitcoin is more than money now , live with it or go away.

[Ianbadz2000]

I would not go into more of technical and complicated aspects differentiating bitcoin to other commodities.  All I know is that it gives me instant financial stability because of its capacity to give me earnings.  It can do almost exactly like money though you cannot spend it to physical stores especially those which do not accepts bitcoin.  Through bitcoin I can buy, sell, trade, and invest it even for a little amount of it.  Unlike if you would invest using cash, it would take like $100-$500 for an investment.

I agree on you you cannot differentiate money to bitcoin, they're the same function you can both buy the same thing bitcoin is a digital currency while the money is actual however you can both use as your payment...

[Ryanpaul80]

For me yes because Bitcoin has a value if you hear Bitcoin in any person you will automatically think that it is money if you know what is Bitcoin because Bitcoin price is so huge and gets Bigger and Bigger as the time go by you can sell or invest in Bitcoin to earn money and make it your work to be rich and when i hear everything about Bitcoin i always think it is about money.

[coinxwife]

I do think that bitcoin is sound money since even though the value either increases or decreases due to supply and demand(like gold). I do like the fact that bitcoin can be transferred faster than gold(depending on where you and the buyer lives). I don't like the fact that sending bitcoins has a fee but I suppose that there is no way around that. I wonder what will happen when the maximum amount of bitcoin has been mined.

Bitcoin is supposedly a money, this is a digital currency that you instantly earn by networking to buy your stuff, gold is your investment comes from your hardwork if you need money you had to pawn this first so it becames a money so this both are usefull as your payment...

[CryptoWorld87]

the word coin is already sounds money then why you have to ask that in this furom. i think before they invented bitcoin they are already thinking that it would nice if the sound of this digetal currency is sound like money so that more easy for an ordenary people understand the fact that this is a money.

[caseback]

I would not go into more of technical and complicated aspects differentiating bitcoin to other commodities.  All I know is that it gives me instant financial stability because of its capacity to give me earnings.  It can do almost exactly like money though you cannot spend it to physical stores especially those which do not accepts bitcoin.  Through bitcoin I can buy, sell, trade, and invest it even for a little amount of it.  Unlike if you would invest using cash, it would take like $100-$500 for an investment.

For the first place bitcoin can produce you a money you can earn here more money by posting, trading, marketing, especially investing why do we still asking that it sounds money apparently it is you cannot differentiate it to other money that we use now coz they had the same function and each value...

[gvnsrbtc]

Bitcoin in its current state is an asset, its not money in any shape of form. It can be used for a limited amount of purchases sure but all those purchases are based on exchanging into fiat, in other words its still not real money but has the potential to be in the future.

[raymart0720]

first of all the video linked is unavailable
and BITCOIN is like the gold alternate in the internet
this became popular because of those investors who is popular well known CEO's are being involved and holds most of them
that adds to the popularity now of COINS

bitcoin will be money for those who needs and have crisis in money
but for me it is alternative money too

[paa1991]

no. it is not.. it is true money.. because lot of people are earn profit from BTC. they got more income in BTC. according to that i can tell BTC is NOT SOUND Money.

[jsscswan]

We can see that bitcoin can be used as a medium of exchange, it proves that bitcoin does serve as money. We can also see that bitcoin can actually serve as a long-term investment tool. So it can be concluded actually bitcoin is more than just money and investment.

[tats14]

Yes bitcoin sound money because bitcoin is a currency, digital currency and you can use bitcoin in any stores or you can use bitcoin to purchase some items and to invest it.

[sabarr]

for me bitcoin is money because I can buy with bitcoin or exchange it in the official currency to make payment of all my bills

[Perseusallen]

a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. so in other words bitcoin is money. bitcoin can be our future a way to success and a way to become a millionaire.

[gokudera]

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

When I heard the word 'bitcoin' a year ago, I think it is kind of money that uses in a game. But when the time goes down and because I red some articles about bitcoin, I knew that I was wrong. Bitcoin is a virtual money, that usually use in Internet to buy some online products.

[saffira]

Definitely yes! When you heard bitcoin, the first thing that come to our mind is i want to have one. I want to buy this and that. The same way as we think with money. And what you can have with money is the same thing you can have with bitcoin. No need to think of it, bitcoin is money. The only diference is that it is digital currency.

[cryptosluck]

Bitcoin is asset  money commodity digital gold we can name it as we like all the demand only because of limited supply and huge demand

[bitcoinajax455]

Yes bitcoin sound money because bitcoin is a currency, digital currency and you can use bitcoin in any stores or you can use bitcoin to purchase some items and to invest it.

Yes it is! bitcoin sound money, a digital money. It is already a money with its name. Coin repsent a money, a money with Bit. Many people know already  what bitcoin it is. When we talk about bitcoin, there's a lot of digital money involve on it.