Why not compare Bitcoin with money?

[Pan Troglodytes]

I think that people who don't consider bitcoin as money and think about it only as a store of value would very much be dissapointed if their prediction were realized one day. I believe that the moment bitcoin stops being considered as a currency, its price will go to zero and it will happen very fast.

So if it stops being a currency, it will very shortly stop being a store of value too.

I think bitcoin cannot really compared to fiat because they have some different features and ways to pays or maybe gain bitcoin is become really profitable also because of the fiat the investors used fiat if not bitcoin to invest in bitcoin for good i believe that bitcoin is a very amazing tools of gaining a huge profit and it is really the most trend now a days we really used bitcoin to gain a fiat money they are both currency but they are different.

I am not saying that bitcoin should be compared to fiat. People are manipulated into thinking that the only money one can speak about is fiat. No! Money in the sense "medium of exchange" existed long before inception of fiat in 20th century. It was based on gold and silver standard.

Fiat as we know it is going to collapse very soon.

All I am saying is that the moment people stop using bitcoin as currency (pay for things and services) it will very sharply dive to zero price and then all those who hodled it as a store of value only will be very surprised.

[colmenajose]

Money is a paper of legal use in a given country to make immediate purchases of goods and services. Bitcoin is digital money, used in any country in the world, also for purchases of goods and services, but with investment characteristics.

[joshua05]

Bitcoin has already made its stand to the rest of the world, but to think its replacing currency to money will never be possible, aside from the government will totally refrain it, we can't be sure if its really possible.

[DoublerHunter]

Bitcoin cannot be compare with money as of now because the bitcoin is an investment or an asset as of now and it is not considered as money because you can use bitcoin in doing transaction, i understand that but in terms of using it as a daily basis currency, it is not that qualified because a lot of problems are there in bitcoin like over crowded and slow network.

[shoreno]

Bitcoin cannot be compare with money as of now because the bitcoin is an investment or an asset as of now and it is not considered as money because you can use bitcoin in doing transaction, i understand that but in terms of using it as a daily basis currency, it is not that qualified because a lot of problems are there in bitcoin like over crowded and slow network.

bitcoin is always compared with money because they are likely the same. bitcoin is a currency and an asset  at the same time while money is also a currency but it can also be used an asset just like in bitcoin. bitcoin is also widely been used on a daily basis and its network isnt crowded or slow all the time rather that is really dependent. If you send a transaction with a verry low fee , then your process will probably slow compared to a regular or recomended fees.

[Monette2k17]

Physically you can compare bitcoin and money, money you can hold or put to your pocket or physical wallet in your pocket while bitcoin is a softmoney you can't hold it. But both have value you can used to buy something online and merchant that support bitcoin.

[inanora]

I think one of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies. The goverment can't control it. Bitcoin does not have inflation so it does not stimulate economic growth

That is not correct in my opinion. Government can easily stop transactions in their country. They just have to pass laws and make it illegal.

[Pan Troglodytes]

I think one of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies. The goverment can't control it. Bitcoin does not have inflation so it does not stimulate economic growth

That is not correct in my opinion. Government can easily stop transactions in their country. They just have to pass laws and make it illegal.

I don't like it much but I think you are right. If a governament chooses to make it illegal, and introduces laws that will severly punish citizens for using it, they will effectively and successfuly ban it. People will be too scared to use it.

[JerryJam]

Cryptocurrencies are not controlled and provided by the government. Therefore, they do not meet the very definition of money. Crypto-currencies are not recognized by the main Bank system as a currency. Confusion in the legal status is an obstacle for investors and operators of cryptocurrency. Because of the lack of state control fraudsters, terrorists and extortionists are using bitcoin to their advantage.

[senin]

Why not compare Bitcoin with money? Because money have an exact or fixed value while bitcoin have unfix value because of its unstable price.

In my opinion, if bitcoin is used as a means of payment, it is already money, because it fulfills their main function. In countries where bitcoin is either recognized by certain regulatory acts as a means of payment, or simply perform this function even without official recognition, they are in fact money there.

[Heronzkey]

the two are really different because bitcoin is a decentralized digital currency and a btc is bigger than our money so the two are identical, although you can not use the bitcoin to buy it but when it's converted to we have money available.

[GeorgiyBilyk]

paper money at any time can come to take away or confiscate! Our government has put us on paper money to make it easier for us to manage! The government at any time can print the right amount of money, for their own purposes! But inflation will take place in the country, and we must cover these expenses out of our own pockets! With bitcoin exactly the opposite!No one will ever be able to take away or block my money! By this very interesting time .... !!!

[decoder88]

I think bitcoin is a very popular online asset, but paper money has become one of the official means of payment that has been recognized by the government and the state. While bitcoin, currently only recognized by some countries only

There is still a lot of things to be compared between a money and bitcoin being a cryptocurrency. Both is popular but money is popular among all the people, and for offline transactions and also money is centralized compared to bitcoin, money value depends on each country. While bitcoin is only a popular online asset, only popular with countries that recognized it. It is more for online transactions and it is decentralized compared to money. And it's value is only one but differs when exchanged to your country's currency.

[ALI AKBAR]

Bitcoin is a digital virtual currency that is invested for the future. On the contrary, money is used for everyday purposes. Bitcoin is an unmarked currency that has no fixed value but has a fixed value of money. Bitcoin may not have a time, money will always be there. Bitcoin can not be traded in some countries, but money can be traded in any country.

[Pan Troglodytes]

Objectively, the money is just a sheet of paper, why? The paper is recognized by the state government to ensure that, so what is the guarantee? that is gold. Which country more and more gold, wealth assets are terrible, that currency is priced compared to other currencies. To understand more about currency you can see the book "War Money" nhé!

Bitcoin is generally accepted by the community and is priced against USD or gold so it's worth it.

In short, every value is converted into gold. But gold has some major disadvantages so new alternatives are available such as money and now Bitcoin.

Yeah I read that book. I didn't recognize the title at first. The author claimed that the currency of the future would be based on clean energy (CO2) certificates, if I correctly recall. So much about his forecasting ability. But I admit, that the main part of the book, i.e. history related, was amazing and enlightening a great deal!

we can't compare bitcoin with money because of the decentralization system.bitcoin is decentralized while money is centralized.we can see Money is more stable than Bitcoin.we can also seen that bitcoin use only online by Internet but money use everywhere. so there are so many cause we can't compare bitcoin with money.

Since when the definition of money includes that a central bank or other central authority is behind it? Maybe this would be a part of a definition of fiat, but fiat is quite a new invention, you know. For all the human history people used money that either was gold or silver or was privately minted as a convenient way to normalize the gold or silver content of each coin.

[BTCsuccessor]

I believe that bitcoin is money, only in the electronic version, may soon throw away real money?!

right.
the bitcoin is money? but it is in virtual currency?
in the future we do not need money anymore? That is your point?

[Leyss]

The most significant obstacle why bitcoin is difficult to compare with money is the high volatility of bitcoin. The absence of stable prices will not allow bitcoin to fully compare with money. In bitcoin it is impossible to plan the indicators of the country's economic development, since the price of bitcoin will constantly and substantially change. Also, the money of any state is always provided with gold and foreign currency reserves and the country's gross domestic income, and bitcoin is not provided with anything and its price depends only on the ratio of supply and demand, and demand largely depends on various news. If the rate of money is always supported by central banks, the rate of bitcoin is not supported by anyone. Therefore it is rather difficult to equate bitcoins with ordinary money.

[AntonKrutkov806]

The release of the quantitative number of bitcoins is limited. This stimulates a decrease in the rate of its production to zero.

[alisaserdceva]

Then when all bitcoins are "mined", their price will increase at times. Therefore, the earlier you start investing in bitcoin projects, the more chances to become a millionaire.

[kuckong]

because bitcoin and money are two very different things bitcoin is a decentralized digital currency is not controlled by anyone and bitcoin is an asset for investment while money is controlled by the central bank and used for the means of payment we use a day to meet the needs of life.