Is Bitcoin Sound Money?

[Miraz69]

Bitcoin and Gold are two different topics. Gold can never be supplemented by Bitcoin. Because Bitcoin is popular on worldwide as a currency.

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[Astie117]

indeed, the word itself "bitcoin" is probably money or wealth, and it already embeded in to our minds, it can also be use almost all transactions through internet from paying bills to purchasing something over the internet all over the globe.

[cryptoalfs76]

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 main factor that bitcoin in still this validity of investment is the price value of itself,this is the reason why bitcoin is a huge impact to us people ,and its helps also promoting the economic growth of responsibility.actually this is the mainstream why bitcoin is the newest technology in the form of digital currency can be competent to gold in terms of price value,therefore we should consider this,bitcoin as a money because of its usefulness  and importancy in any kind of transaction,like billing or other important matters.

[biascoin]

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?

The main factor that bitcoin in still this validity of investment is the price value of itself,this is the reason why bitcoin is a huge impact to us people ,and bitcoin also promoting the economic growth of responsibility.actually this is the mainstream why bitcoin is the newest technology in the form of digital currency can be competent to gold in terms of price value,therefore we should consider this,bitcoin as a money because of its usefulness in any kind of transaction,like billing or other important matters.

NO. Bubblecoin is just a self-full-filled prophecy. It is also fiat, backed by trust only.

[Sumo]

I do not see any special reasons and the need to compare gold and bitcoin, as gold is only an investment, and bitcoin is conceived as a new kind of currency.

[fattyforhire]

And yet, I prefer to keep my money in bitcoin, since only it allows me to earn. In gold, I can just keep my money safe.

[Analea1]

Yup it's sound money to me from the word bitcoin.

[rampage101]

We can still invest in gold and keep our money in it alone, or distribute our capital to bitcoin and gold. We still have a choice.

[Cloud_miner]

Bitcoin is a currency that becomes more popular every day. It is accepted when paying for services on the Internet. Bitcoin can be sold in a bank and receive instead of it any currency of the world.

[ElusivePhantom]

It's just a means of exchange. No more and no less.

It increases in value (generally speaking) because there is finite number of them.

Money as in fiat currency is infinite, it can always be made if more is needed.

You need to remember than the main advancement in all this is the block chain technology upon which BTC operates.

BTC isn't block chain, it operates on it. It's sound as any means of exchange. However, the problems it faces is global integration and acceptance.

There's always friction when a new idea than is revolutionary is introduced. Even something as remedial as microwaves had it problems in the early days.

It was tainted as some cancer causing machine. The companies that produced ovens didn't like the idea. Why? Because it stood to change the way a kitchen operates and would most likely outsell the number of conventional ovens sold each year.

But how many people have a microwave now?

It was accepted and became mainstream to the point you will struggle to find someone that doesn't own one now.

I believe this will eventually be the case with BTC and other cryptocurrencies.

[Menawi12]

My opinion, bitcoin factors into investment instruments is bitcoin have limited supply. Limited bitcoin supply pushes price rises if demand rises. Gold is extremely inflexible to save and to keep it and bitcoin have security factor

[Sand King]

i make bitcoin as money because when i make some amount of bitcoin then i know i will be make money too, because bitcoin is long term investment, i still hold my bitcoin until i decide how much of price i want to sell my bitcoin.

bitcoin is not gold, and gold is not bitcoin. bitcoin have its ways and the gold too. so don't debate about bitcoin and gold because we can not see that its not the same even as currency. better we are thinking about how we can make more money with bitcoin and gold and how much we can make it.

I agree with this, for me, yes. Bitcoin is money. But bitcoin isn't just money i think. Bitcoin is money because when you invest here, it can double or even triple up your money, it is the easiest way to get a money that i know.

[odakorlina]

For me, Bitcoins can be called as money only if every people use bitcoin as payments process. Because, if you have bitcoin there is so many ways to use when you converted into fiat money. Especially for your financial needs. Bitcoin is more than a money, it is fully open-source and decentralized.

[adadaorlina]

For me bitcoin is indeed a money in a sense of digital money. It uses the difference in Bitcoin to earn a certain profit and convert it into legal tender. This is the most common form now. Bitcoin is a currency that is not controlled by the government and this will help to increase the value of bitcoin.

[Becase]

Yes, Bitcoin for me is the extra income I get from the internet, from bitcoin sales, I can earn money. Because of friends, I have extra income. At first I did not know anything, because my friend told me and wanted to share with me. I finally learned about bitcoin, can get results until now.

[5hoursaday]

Bitcoin is sound money to me. I can get it out when I want and can use it anytime I wish which is what I believe to be sound money. Money you can get and spend whenever I desire.

[Bitcoinnumberone]

Bitcoin has proven to be sound as gold/fiat currencies if not more sound. It is faster to move arround, it is backing more than 600 other cryptocurrencies, Its value has increase over the years at an exponential rate and only downside with Bitcoin is that it is deflatory

Yes, bitcoin itself is a cryptocurrency. This aims to be an equal amount and use of money. Bitcoi. is also an investment where we could really earn money. Whem used properly amd if bitcoin will have its place as leading crypto this could indeed be really profitable.

[oracleongoodbye]

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

Before we compare the gold in the bitcoin, The gold is depends on how it is or why it is expensive the price of different gold is not the same so dont compare the gold to bitcoin. They are simmilarities the gold is become more expensive by the date and also bitcoin increase the value when have a longer of time because of so many users of bitcoin in this era. Don't compare things by another things because they are never do the same.

[Girtod]

how can air be equated to gold? I think it's all a pyramid but it is not known when it will collapse

[MakLampir]

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