Is Bitcoin Sound Money?

[Babylon]

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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Yes, just a coin in the last part of bitcoin, you can really think about it. It's very expensive because of its price, if it sounds like it's really rich hahaha. It's a brilliant idea of ​​it. Because everyone is rich in wealth whenever they use it. It has been so successful since then. And I hope I will also be part of those who are rich in their bitcoin use.

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[sicnarfwb]

Bitcoin is morethan a money, it is fully open-source and decentralized.

[gordeevaverona]

I think many sleep and see how to return the future back that this sound of money would knock on them in the window, they bought bitcoin 4 years ago and even later.

[angelakrasnova]

Yes, everyone expects from Bitcoin that he will gild them and not always it turns out. Therefore, the sound of money in the head is there, but we must first think over our plan of action so that the knocking was not in vain.

[kirti rana]

Yes, you are right friends bitcoin is a degital currency, All this is different from this, bitcoin is good investment for money.

[uppon]

Bitcoin is virtual and does not exist. This can be said to be an investment product, but gold is existent and physical, so the two are of no significance.

[kimmy724]

Bitcoin is not money. Simply because it is not a legal tender to any country. I see bitcoin as a service. Transportable currency agent as it is borderless, fast and cannot be faked by anyone. 

[Elips1]

Yes, bitcoin it sounds money from the word "coin", But it's not a literal physical coin that can be seen and touchable because we already know that bitcoin is a digital currency.  Bitcoin word it  needs by making sense to understand what is it mean?, But only the logo of bitcoin that has a possibility to be determined and familiarize.

[weeg4]

for me bitcoin is money, because i can use it to buy things and i can do transaction with it, and if somebody ask "is there are any similarity with gold or other precious metal?", i dont think so, but as an investment bitcoin is a good option, but to compare it with gold, I think its two different things

The People's Bank of China defines Bitcoin as a special kind of internet commodity, and people can freely buy and sell on the premise of own risk. Most major countries in the world also adopt a cold treatment attitude towards Bitcoin. There are not many countries in the world that block Bitcoin, and bitcoins are generally blocked in small countries or countries where the former Soviet Union was disintegrated. Bitcoin has value because it is useful as a form of currency. Like all currencies, the value of Bitcoin comes directly from people willing to accept it as a payment method, and this is the only source.

[Kaiwillliamjames003]

 You see folks, What OP probably want to express is, in our opinion, is bitcoin a stable and reliable kind of money that can be used in commerce?Bitcoin is money for me, as long as you can used it to pay online and can convert it into a real cash money.I think bitcoin is money that doesn’t have exact value but very luxury to an individual.

[sharpk]

I believe that in many countries, Bitcoin still exists in the form of an investment tool. It uses the difference in Bitcoin to earn a certain profit and convert it into legal tender. This is the most common form now.

[trinhan1988]

I think both of them are different. Gold is used for thousands of years as an asset but it has not been used to purchase goods for hundreds of years ago. Bitcoin is a form of currency as it can be used to purchase goods and be accepted for payment in many countries. Bitcoin is a currency that is not controlled by the government and this will help to increase the value of bitcoin.

[solarisexodus]

Bitcoin does not only sound money but it is in sense money. Why? Take a look, when you have a bitcoin, you have the opportunity of getting money. In simple terms, it is a form of money - I think a revolutionary currency that might change the world in future and even then proved its worth just recent event. It is a sense perhaps because it is intangible but knowing its intangibility provides the very purpose and value depending on when, how, and what it use too. It can be converted into money which literally bitcoin can be a money.
Bitcoin doesn`t sound only money but given its equivalents makes sense that it can be a money. In accounting, we use to have an account in the statement of financial position the "Cash and cash equivalent" which are assets readily convertible into cash within 90 days (3mos) or money such as coins and currency. If the concept would be used, bitcoin is a cash equivalent which can be readily convertible within 90 days. Thus, I proved that a bitcoin can be made into money and "yes" it is ridiculous to say but given certain events, might sound "MONEY".

[gabum19]

Bitcoin is a true money via internet industry.  And much stronger than the gold, it is because more easier to profit/use and easy to find mining communities.

[vergel24official]

Every bitcoins you have is money. Bitcoin is just like sending a text message, telling address to people and any bitcoin sent to that address are now yours. We need to convert that coins to traditional currency in order to purchase things, pay your bills in your favorite shops.

[Lintel]

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 I do agree that bitcoin sound money because bitcoin can be traded into a real money. bitcoin has a value . it is a cryptocurrency that you can convert it into real money. when  I started doing bitcoin or when I joined bitcoin, autonatically I started earning money. so yes it is for me sounds like money and I look at it as money .

[walemil]

Bitcoin is a digital currency. Bitcoin is sound money because it's been in demand nowadays and popular to investors who really wanted profitable investments. The desire of earning money through digital currency became a sources of income online, and it is a sustainable income for everybody. Price is rising eventually and we cannot stop that even with the media negative new, people's minds will still remain fixed.

[fishball]

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

What everybody knows here is that bitcoin can be used in any transactions like paying bills etc. You can also convert it to become real cash. Investing it is a good thing to do.

[Tremolo]

Bitcoin is money

[JoshuaBlack1]

I think when compared to fiat money we use today, cryptocurrency is definitely sound money. People need to realise currency is just a byproduct of having a secure blockchain. It's probably one of the most organically formed currency's since we were using grains.