Electronic Money vs. Physical Money

[Imfinnabeon]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

Well it differs in the sense that you cant use bitcoin money at every location in life but you can almost use cash at any location. It is weird though however considering the fact that most money nowadays is digital but yet we

arent able to spend this digital money? Weird paradox if you ask me and Sweden is looking to end cash in society and it may have completed this task as early as 2023.

[Man21]

There are many different. But easily, crypto can become an investment but fiat can not.
Crypto is not accepted in all country but fiat yes. And many other different.

[shone08]

Physical money will spend a lot of budget for its creation, eventually the world government will forget this and start switching to the e-money system, they will allocate the budget to the source of the currency-forming nature for other businesses. What the world needs now is efficiency so everyone will switch to consolidating e-fiat with cryptocurrency.

I think both of them are same because both of them are money but bitcoin is a digital currency and other currencies are paper currency and I must say bitcoin is little better than paper money because bitcoin price is high than any other currency and it’s also easy to carry with yourself bitcoin in now available almost everywhere and the users are going to support bitcoin.

In that point ,bitcoin is really better than fiat currency. With bitcoin, people can move their wealth in a permissionless way using their individual sovereignty. Bitcoin users can utilize the decentralized currency for operations that are typically frowned upon by third party forces. This includes online storefronts selling pornography, illicit drugs, and other black market activities. Cryptocurrencies can also be used to avoid taxation as it leaves the decision of reporting to tax officials up to the user.

Most of the uses you state for bitcoin are not really recommended, after all most of them are illegal all over the world, but with bitcoin we can do all the regular things we can do with fiat with the advantage that no one in the world will be able to take our coins away from us.

Both the electronic and the physical money have their own importance .actually the thing is that when it comes to the user security then the physical money is much better option than the electronic money as it is more likely to get hacked or stolen by someone. But if we talk about the huge money transfers internationally, then the paper money could never serve the purpose.

In other country physical money have their own historical meaning (like in my country) and yes this two have their own difference, physical money are easy to spend and many people must prefer the fiat instead of digital cash because most people think that bitcoin are scam.
In my own opinion physical money are must better compare to cryptocurrency yes Bitcoin now a day are most popular the price are huge but the problem are transaction are slow the transaction fee are expensive but still bitcoin continue to increase.

[Batmain]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

Electronic cash (cryptocurrencies) are no less than ten years old but it have already disrupted the world of finance.
For example you have the abacus as a calculator back in ages but now we already have electronic calculators that can solve even the hyperbolic functions. Same for the EDVAC and ENIAC calculator where our smartphones are way more powerful than this supercomputers back in the days.
Soon traditional money will be replaced and the electronic money will be more convenient and way more better in terms of being the medium of transactions. We still have much more to learn tho but at the meantime lets have a fruit of this development.

[Charisse1229]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

The differences between electronic money and physical money, want to say that electronic money is totally dependent on the internet, which is also cryptocurrency  is very secure and only a few reports of it that it is hacked, Both of them are needed in our life because with physical money, we can easily pay things, because if we don't have internet then we can use our physical money to pay things

[voztata]

Electronic money more used in metropolitician cities and whenever we do high amount transaction. Now people are started to use this transaction. But the cash transaction is common in all over the world, and I think the Electronic money will never replace cash.

One thing you should know is that in this modern days, you need both electronic money and physical money, cause of can’t do without one of them in some certain situations. There are lots of things to be done, and it each requires different form payment.

If we are talking about activities like buying and selling online, then electronic money is needed. And when I mean electronic money I don’t mean Bitcoin, dollars can be electronic (it is already, cause there are things like mobile banking).

[barbara44]

People are earning and spending money without ever touching it. In a small percentage of the world’s currency exists as physical cash. The rest exists only on a computer hard drive, in electronic bank accounts around the world.”

Both have equal importance in the world of finance if the new version of currency that is the digital form has got introduced in the society and has many benefits over the other forms such as the physical money or the plastic currency such as the debits or credit cards even than you could realize the importance of physical forms even now. There are many underdeveloped countries and they still prefer physical money for their safety.

[charlenedave]

It's hard to choose one between electronic and physical money, because both of them is very important for me, but if i only need to choose one, i will choose electronic money because i know that in the future electronic money can also do what physical money can do.

[carlisle1]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

its given on what you have asked.BITCOIN or electronic money is different from physical money.first physical money is ready to use anytime whenever or wherever we can pay our bills with it.while electronic money needed power or electricity to use same as internet,if those arent available you cant use it and will wait until it becomes available.as simply as that

[Astermony]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

For me, physical money is good because if you don't have internet access, you can still buy food, drinks, clothes and anything you want to buy unlike electronic money that you really need to access the internet before you can use it. But when it comes to convenience of transferring money, of course electronic money is good because if you want to send money from your family, you don't need to go to the pawnshop just to send it because it is only one click away.

[jessicawelsh]

For now, paper money is lead the way than Electronic money because they are the basic currency but in the nearly future, with big potiental advantages, digital will rebounce and take the place of paper money for sure.

[Ctn]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

Actually it's totally different, even though its name was Cryptocurrency,we can not compare it to actual money, becuase cryptocurremcy is a degital money, like bitcoin. Bitcoin is all digital but we use our phones everyday and they are very accessible in all parts of the world

There is much difference in the electronic and the physical money. The physical money includes Fiat that could never be used over the line for the sake of transaction and vary from country to country depending upon the national currency .on the other hand electronic money is not bound to one single country, is completely decentralized and has no physical existence.


It is only an easy mode of transacting heavy amounts in international market with low taxes and promising method that offers complete security.

Hm, somehow I agree to this one and why anyone wouldn't as it is clear idea that was made by the satoshi sir back in 2009 or before that when he started thinking about the mode of transaction.


Its true that each fiat currency/physical currency is bound to the same country only and you can't use it in any other country. Thats the first thing about them, and that puts a limit on to them. In the second scenario if I take bitcoin with me which is over the Internet and flee to another country with different currency form then also I can live there with my bitcoin trade. Even I can convert bitcoin to their local currency and then use it I needed to do that. Its more easier than to go to airport and make exchange of physical cash.

[BaraxLo]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

Bitcoin is just a digital currency and it is completely different from cash, it's not material, it's pure virtual money so no one can tamper with it or eat.

There is no doubt that electronic money is the future of the world and the way world is moving towards developed and becoming global village, the paper money is becoming obsolete. People don’t want to carry paper money with them when travelling from one country to another.

The digital currencies are able of removing all these hurdles created by paper money. In short, future is of digital currencies in the economics.

[superjeyy]

Actually it's totally different,
even though its name was Cryptocurrency,we can not compare it to actual money aka Fiat.
if we want it to be considered as a 'real currency' we should have a physical form.
right now the best word to describe it is 'Electronic Payment' not 'Electronic Money'.
'Electronic payment' was a tool for people to help them send their money across the world,
it's just a tool and will never replace the real 'money' itself.

Point taken. It is true that cryptocurrency cannot be compared to actual money as they have a different stature in the society. Although they almost have the same purpose, they still are different from one another in many aspects. As stated by DaMut, the physicality of a currency is important in establishing its state. We should also take note of the accessibility towards these "money". I think for Bitcoin to be considered real currency, it should be accessible by everyone. Since Bitcoin can only be accessed through the use of the internet, then it is more of a privilege or opportunity to own compared to how fiat is earned.

[LuffyD.Monkey]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

The difference between digital money and fiat money is very simple. Aside from using different technologies electronic money is a digital asset whilefiat money is a physical asset. Digital money such as cryptocurrencies are decentralized while fiat money is a centralized form of  asset. Digital money is only used online and or with the use of an electronic device for transactions like computers and mobile phones. Fiat money is the one that we are using in our daily lives used to buy and sell goods and we can touch it physically. Both assets has different purpose of existence and technology. For me having both assets is a good idea for us to survive and have a better future in this world.

Yes there is a lot of difference in these two types of money and physical money is only confined to the specific region but digital one is not and it give room to investor to use it anywhere in the world and on top of it crypto prices varies from time to time and this is the best thing that you invested small amount and your coin is becoming more valuable day by day and that’s the best thing of crypto so use digital one.

It is not a child’s play that the physical money will disappear because the physical money has made its place in the hearts of people that why people have a strong believe over the physical shape of paper money while the digital currency is in the introduction phase which will consume some time for building the trust of the people.

[cluit]

Electronic money will be increasingly introduced into our lives. But cash will never disappear.

as cash will be protected by the Government in every State. how may cash will disappear and it will not happen.
it took hundreds of years to change the world currency into one recognized currency.
in time bitcoin will become the world currency, sometime.

It will take the time for sure but w cannot say that it is not possible because a lot of the people are now believing in the electronics money and they are using the bitcoin now and this is the reason why the demand of the electronics is now higher than the currency because with this all the people are able to pay for all the things even with just a click and they stay at home and they can pay the bills while the bitcoin is increasing now.

Country’s budget can be one of the main reason for the superiority of electronic currency over physical currency. But bitcoins case is totally different because it introduces a decentralized economic system to the world where there will be no more need of physical currency and people will use this electronic currency for any purpose they want. We can hope for the best and beast.

[BitcoinLoan]

physical money in my country yet, but I hope it will change to electronic soon

I do not think so. People do not trust in electronic money, most people think psychical money is more safe

[mOgliE]

Hi,

A physical money is created by a government/state/nation/institution and is valuable only in a define territory. The money in itself can be emited according to the needs of the entity that created it. Some money exists within a network of firms and their value is "real" as long as it is used for transactions between such firms.

The bitcoin is not created at will by an entity. There is a process leading to its creation but it cannot be hasten at will. I will add that, to me, it is also impossible to fake bitcoin thanks to the blockchain.

[Jupeter]

For now many people will always choose physical money because, this is tangible unlike the electronic money and many people knows that they can use the physical everywhere and physical money is knows by everyone in this world unlike the electronic money, that is not really famous right now.

[crustez00]

Digital currencies or you can say electronic money, they are usable currencies that have special wallet that will store the amount digital currencies that you have. and for the transaction, there is some exchanger that could send bitcoin to another wallet for purchasing something. that's what i thought