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Author Topic: Bitcoin versus other offline currencies  (Read 3196 times)
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November 15, 2017, 12:12:54 AM
 #1

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
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November 15, 2017, 07:47:57 AM
 #2

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Hi and welcome to bitcointalk forum!

By other "offline currencies", I guess that you mean to gold and cash, let me explain why bitcoin is better then them.

Cash- Huge inflation, which means that if you hold cash as a store of value, at the long run you will lose value!, can be only transferred by a face to face meeting(someone need to physically deliver the cash to you).

Gold-Hard to store( takes a lot of space and may require to have a security behind), and also hard to transfer

Bitcoin- Fixed inflation, which means that you won't lose value at the long run, and also very easy to transfer,you don't need to actually meet someone in order to transfer bitcoins and you can do it from home.
Also it's value goes up at the long run.

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November 15, 2017, 10:18:09 AM
 #3

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Hi and welcome to bitcointalk forum!

By other "offline currencies", I guess that you mean to gold and cash, let me explain why bitcoin is better then them.

Cash- Huge inflation, which means that if you hold cash as a store of value, at the long run you will lose value!, can be only transferred by a face to face meeting(someone need to physically deliver the cash to you).

Gold-Hard to store( takes a lot of space and may require to have a security behind), and also hard to transfer

Bitcoin- Fixed inflation, which means that you won't lose value at the long run, and also very easy to transfer,you don't need to actually meet someone in order to transfer bitcoins and you can do it from home.
Also it's value goes up at the long run.

Just to add on of some my idea about bitcoin versus offline currencies.

Offline currencies are those fiats money we have on distinctive country. Also, other jewelries which will be convertible to cash. It's durability will be affected like our paper money in long run of time. During cash transaction there will be a transaction fees or other fees like tax that will be add on which is required by the government.

Bitcoin is a crypto currency which lives in the cyberworld and decentralized was occurred. Bitcoin has a lots of privileges , like transaction fees which is easy and fast with very low transaction fees compared to fiats money. Its value is increasing and its a good opportunity to have a good profit today for the future purposes. No government that will be dictated which is highly secured especially the different transaction all over the world. As of this time bitcoin is the dominant of all over crypto currencies in the cyberworld .

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November 15, 2017, 10:51:05 AM
 #4

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Basically we can explain that with Bitcoin we can buy whatever we want. it has become the basis that Bitcoin is a precious and valuable items such as other real money. Compared to real money, of course Bitcoin is still far from expectations, we all know that Bitcoin can not enter the sector that does not have internet access, therefore currently most Bitcoin users are those living in urban areas. I really crave that one day Bitcoin can be used by everyone, we are all currently waiting for infrastructure to support the use of Bitcoin can be realized and evenly distributed in various regions. If this can be realized then I am sure that Bitcoin could be one of the biggest economic forces in the world today. there must be support from various parties to be able to realize this all.
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November 15, 2017, 11:01:50 AM
 #5

For me to compare bitcoin in fiat, gold and other source of currency, bitcoin still has a lot of space for improvement bitcoin hasbit's disadvantage and advantage of course bitcoin only rely in the internet but it make transaction much more easier but fiat on the other hand is tangible it means you can see it with your own eyes and hold it with your own hands and that's what i think why a lot of people still not interested in bitcoin because what they want is the tangible one.

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November 15, 2017, 11:56:51 AM
 #6

I have been asking myself beforehand how do I discovered bitcoin investments now than any other currencies available since my birth. It is because cryptocurrency is for the masses and not for oligarchs that Is dominating the entire stock market for they’re greediness. It’s a reality that we won’t never understood until now if Blockchain technology destroyed that perception that investing is for the riches and the kings.

It is the ultimate opposite to gold and fiat and the opportunity it bring to ordinary person is higher.
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November 18, 2017, 06:07:57 AM
 #7

For me to compare bitcoin in fiat, gold and other source of currency, bitcoin still has a lot of space for improvement bitcoin hasbit's disadvantage and advantage of course bitcoin only rely in the internet but it make transaction much more easier but fiat on the other hand is tangible it means you can see it with your own eyes and hold it with your own hands and that's what i think why a lot of people still not interested in bitcoin because what they want is the tangible one.
I would not say the reason why fiat is more tangible is because you can see it with your own eyes. It has always been the traditional means of payment for a very long time and just very few people know about bitcoin which is why I agree with you that bitcoin still has a lot of room to grow and develop.

Bitcoin is very useful and also not easy to just come by most especially these days and it is normal because assets too are always like that and the early adopters are always the ones to reap most of the benefits. So, I would rather say, time will tell, because right now, everything is evolving.
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November 18, 2017, 06:41:15 AM
 #8

Bitcoin has a vast demand and supply in market than all offline currencies, the present value of bitcoin describes its importance itself.
It's instantaneous transfer feature attracts, even compels large organisations to accept bitcoin as a primary method.
Nearly in five years, use of fiat currency would be negligible for sure.

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November 18, 2017, 08:27:43 AM
 #9

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Hi and welcome to bitcointalk forum!

By other "offline currencies", I guess that you mean to gold and cash, let me explain why bitcoin is better then them.

Cash- Huge inflation, which means that if you hold cash as a store of value, at the long run you will lose value!, can be only transferred by a face to face meeting(someone need to physically deliver the cash to you).

Gold-Hard to store( takes a lot of space and may require to have a security behind), and also hard to transfer

Bitcoin- Fixed inflation, which means that you won't lose value at the long run, and also very easy to transfer,you don't need to actually meet someone in order to transfer bitcoins and you can do it from home.
Also it's value goes up at the long run.

We cant still be sure if bitcoin wont really lose its value since we dont know what would actually happen yet on future years to come in btc. The thing why bitcoin do have high interest because of its benefits like its new way payment system and at the same time the opportunity of making money. This is one of the advantage on where offline currencies can match the thing here is that bitcoin isnt been backed by government which some people would see this as a drawback specially to those who do trust fiat currencies soo much.

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November 18, 2017, 12:48:19 PM
 #10

Hi and welcome to Bitcoin Forum!  Smiley

Bitcoin is basically a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a single administrator.Bitcoin is better than other offline currencies in following ways:
• Bitcoin is better than regular currency as Bitcoin has the [capability] to be send and recieve money in an easy and secured way whereas other offline currencies consumes time and effort to transfer it from one place to another.
• Bitcoin’s [future is brighter than other offline currencies] as it’s marketvalue is getting higher day by day which increases the chance of profit. Bill Gates highlighted it’s importance by stating that “Bitcoin is Better Than Currency”.
• Bitcoin’s [security beats other offline currencies security].Bitcoin can be backed uo and saved to other servers, saved in wallets, or in offline vaults whereas, other currencies can be lost or theft.
• Bitcoin [doesnot act like Banks],we alone can control nad manage it knowing that soon it’s value will increase. Also, there is no tax to less on our profit.
• Bitcoin [increases the speed of transaction]as it is online transaction system which other offline currencies are not.
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November 18, 2017, 01:33:00 PM
 #11

At present moment, Bitcoin's demand is huge and increasing in a fast pace. Moreover online stores have already started to accept Bitcoin only, but I believe other cryptocurrencies will also be accepted.
Atleast in far future the use of offline fiats will be somehow reduced for sure.

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November 18, 2017, 01:52:57 PM
 #12

At present moment, Bitcoin's demand is huge and increasing in a fast pace. Moreover online stores have already started to accept Bitcoin only, but I believe other cryptocurrencies will also be accepted.
Atleast in far future the use of offline fiats will be somehow reduced for sure.

I see that this discussion is between future and past. Fiat is new to the world in the year of 1769 when the time we first paper money but since world adopts to digitalization we will give further to use the bitcoin and other crypto currencies as their national currency but I am really looking forward to know the bitcoin as a national currency if that is belongs to my country means I will be glad more about it.
However, these kind of discussion will goes like rubber band and expand it more than a 10 plus pages by saying the same information again and again.

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November 19, 2017, 01:54:08 AM
 #13

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

It's really up to what you want to use each for. Considering that you're probably talking about fiat, I would say that if you want to use something more as a currency, use fiat. It's accepted much more across multiple platforms; it's what the sellers normally expect you to use to pay. If you're looking to get a form of payment that ranges in the evaluation and one that works as an asset/investment as well, work with bitcoin. You'll have gains in the future and be able to use it then.

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November 19, 2017, 04:42:59 AM
 #14

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
I always explain to others that Bitcoin is a revolutionary financial system and has a good future. I always compare Bitcoin with credit card and paypal. With various explanations then I mention that Bitcoin has many advantages over others, Speed and ease in doing every transaction is a plus value that we can. Mathematically, Bitcoin is far superior and better equipped to cope with the increasingly sophisticated growth of technology today.

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November 19, 2017, 05:41:32 AM
 #15

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
There are a lot of reasons, firstly there is a trust that comes from the fact that it is the first crypto money, there is also an excessive customer demand, the use of many places makes the price of BTC high.



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November 19, 2017, 05:56:58 AM
 #16

I have been asking myself beforehand how do I discovered bitcoin investments now than any other currencies available since my birth. It is because cryptocurrency is for the masses and not for oligarchs that Is dominating the entire stock market for they’re greediness. It’s a reality that we won’t never understood until now if Blockchain technology destroyed that perception that investing is for the riches and the kings.

It is the ultimate opposite to gold and fiat and the opportunity it bring to ordinary person is higher.
Right. Cryptocurrency will always be for everyone and the fact that some people who have always controlled fiats cannot really have much of a place in the crypto ecosystem makes it more interesting.

Yet, it still all balls down to those who are able to adopt it very early as whether we like it or not, most of these rich dudes are already catching the scopes and trying to invest as much as they can but the good thing is that, decentralization is what gives it so much sense at the end.

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November 19, 2017, 12:05:36 PM
 #17

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Obviously now,the value of bitcoins is greater than any other offline currency because of the demand of its users and because of its future potential. It is also easier to use during technology development
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November 19, 2017, 01:42:05 PM
 #18

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Obviously now,the value of bitcoins is greater than any other offline currency because of the demand of its users and because of its future potential. It is also easier to use during technology development


When you future digital currency usage is little away from till reach to laymen level we cannot comapre bitcoin with the Fiat currency.
Because price value will be more expected in digital currencies but Fiat value very small and reasonable value only.
I am sure every country will own each digital currency as their country's one and will make it as national money also.

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November 20, 2017, 07:59:16 PM
 #19

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?
Basically we can explain that with Bitcoin we can buy whatever we want. it has become the basis that Bitcoin is a precious and valuable items such as other real money. Compared to real money, of course Bitcoin is still far from expectations, we all know that Bitcoin can not enter the sector that does not have internet access, therefore currently most Bitcoin users are those living in urban areas. I really crave that one day Bitcoin can be used by everyone, we are all currently waiting for infrastructure to support the use of Bitcoin can be realized and evenly distributed in various regions. If this can be realized then I am sure that Bitcoin could be one of the biggest economic forces in the world today. there must be support from various parties to be able to realize this all.
hope for everyone can realize access bitcoin use is a bit difficult to realize ,, actually not hope to get bitcoin access offline. but we should be able to have internet access evenly across the region, .. because if it can materialize maybe the use of bitcoin could cover the whole area ..

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November 21, 2017, 06:49:13 AM
 #20

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Comparing bitcoin against "offline currencies" you mean to say cash? or a thing that has an economical value like jewelries, mostly with precious gold, silver, bronze, etc? If you are looking for what's the real market of bitcoin, try to check out coinmarketcap.com and for the market value of fiat money/cash, the government or your country will tell it how much it was valued. While with the precious things I mentioned try to explore this chart http://www.kitco.com/charts/

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