The OP is very fascinated by Bitcoin. There are a lot of similar songs dedicated to Bitcoin on the forum, but stay down to earth and don’t create an idol for yourself. To master the “magic” of Bitcoin, you need knowledge and understanding that if you mishandle the magic wand (seed phrase), your Bitcoin can evaporate or pass into the hands of other more experienced magicians.
But seriously, OP, you create a religion of worship, and it always ends very badly.
Topic: Bitcoin is magic internet money - page 2. (Read 431 times)
And Bitcoin doesn't really exist, it's just code and we can "see" it in our wallet, we can't touch it like real cash, because it's only 0 or 1 (or hashs).
Codes do exists and they're inside the computer programmed to generate cash through the central banks or machines they use. Let's say that cash doesn't really exist, it's just paper just as toilet paper that we use based on its function and what the government told us that fiat/cash is money that we can see in our wallets? I think it's been so long that many still don't acknowledge bitcoin as a real money. as long as it is being used as a medium of exchange just as money, bitcoin therefore is money whether you call internet money, still it doesn't change the fact that it can do what fiat/cash does.
Bitcoin might be not really money – but it's internet money. And it's not just internet money, it's magic internet money. We can attribute a lot of characteristics to Bitcoin but we really need to realize at some point, how magical Bitcoin is as an internet money.
Real money beyond the mention of fiat internet. Bitcoin is real money on the internet. Both are money that can be used for all needs.
Fiat is real money because it has a shape, which is different from Bitcoin as money that has no shape.
Fiat currency in the form can be used for transactions, gambling, investing and so on. Bitcoin as a currency can also be used like that, but Bitcoin is limited in quantity so it has strong value compared to real currency which is distributed and printed indefinitely from year to year.
Apart from that, the value of fiat currency will decrease every period. The difference can be felt if you are willing to find out.
And yes, Bitcoin is the currency of an incredible invention.
Bitcoin is the internet of money of all things. The swift transaction that can be performed on the blockchain, high security level without a security guard and price change at any specific time interval makes it invincible and more magical. What interest me the most is the trust and belief people have for such a digital money that you cant feel or touch, its really amazing.
Although the feeling that Bitcoin is magical gives the belief that it will always going to make people rich which is not true at all times. Bitcoin can get as high and as well as very low. What should be considered is the fact that, when the knowledge of it is applied either by investing and the idea of holding it for some decade can give hope of a better future if you do not sell when the price gives you a little profit or panic sell when the price drops because it is volatile.
Although the feeling that Bitcoin is magical gives the belief that it will always going to make people rich which is not true at all times. Bitcoin can get as high and as well as very low. What should be considered is the fact that, when the knowledge of it is applied either by investing and the idea of holding it for some decade can give hope of a better future if you do not sell when the price gives you a little profit or panic sell when the price drops because it is volatile.
Association magic with Bitcoin sounds like it's something that can't be properly deciphered and has some mysterious element meanwhile on the contrary Bitcoin is a very understandable and clear financial asset, which anybody who dedicates their rime to understanding it will definitely understand it properly and see no mystery in it because it's transparent without any form of vaugenesss.
In as much as I understand your concept it's also important you put things in a more clear and original form to avoid any case of ambiguity from people who are been introduced to such concept for the first time so they don't get a narrative not intended. Bitcoin may not appear to be physical, but it's pool of value is unending, it's virtuality is no barrier to its store of value and can even be further explored to a more innovative store of value. Bitcoin is so valuable that associating it with such description as given by the OP sounds like it's a mere virtual mystery, contrarily it's beyond that, Bitcoin is real business and everything about Bitcoin is now real than ever before.
In as much as I understand your concept it's also important you put things in a more clear and original form to avoid any case of ambiguity from people who are been introduced to such concept for the first time so they don't get a narrative not intended. Bitcoin may not appear to be physical, but it's pool of value is unending, it's virtuality is no barrier to its store of value and can even be further explored to a more innovative store of value. Bitcoin is so valuable that associating it with such description as given by the OP sounds like it's a mere virtual mystery, contrarily it's beyond that, Bitcoin is real business and everything about Bitcoin is now real than ever before.
I don't think bitcoin is something magical that was created magically and just happened. I read a little about the long history before bitcoin was born and discovered a new conception of a decentralized financial system as the antithesis of centralized fiat money.
Bitcoin initially had a cheap price and over time it became more expensive. It didn't just happen, many things happened to bitcoin, many rejections and bans on bitcoin, all of these were obstacles that bitcoin faced until bitcoin finally became as popular as it is now. Bitcoin is both a currency and an asset, it is loved for the concept of freedom it brings. We can own bitcoins individually and no one can freeze our bitcoins as long as we keep them in our own wallets, not on an exchange.
Bitcoin is a breakthrough, an idea, and freedom. Bitcoin was born with hard work and challenges, so Bitcoin runs normally and there is no magic except the great concept that exists in Bitcoin
Bitcoin initially had a cheap price and over time it became more expensive. It didn't just happen, many things happened to bitcoin, many rejections and bans on bitcoin, all of these were obstacles that bitcoin faced until bitcoin finally became as popular as it is now. Bitcoin is both a currency and an asset, it is loved for the concept of freedom it brings. We can own bitcoins individually and no one can freeze our bitcoins as long as we keep them in our own wallets, not on an exchange.
Bitcoin is a breakthrough, an idea, and freedom. Bitcoin was born with hard work and challenges, so Bitcoin runs normally and there is no magic except the great concept that exists in Bitcoin
There is no magic in Bitcoin without doing something. You must buy Bitcoin, search for free satoshi from the faucet, or work for Bitcoin. Without all of that, you can't have Bitcoin. But Bitcoin is money that exists on the internet and can also be used as a means of payment offline. But it depends on each country.
But we should not use the word magic for Bitcoin because we are afraid that people will think that by having Bitcoin, they can get rich quickly in an instant. But if people buy Bitcoin and keep it for a few years, they can make a profit from investing in Bitcoin.
But unfortunately, until now, there are still many people who don't know much about Bitcoin and don't want to start investing in Bitcoin. So those of us who already know Bitcoin must increase the amount of Bitcoin we have. This is so that when Bitcoin becomes a means of payment for all countries, we will already have Bitcoin and be ready with everything.
But we should not use the word magic for Bitcoin because we are afraid that people will think that by having Bitcoin, they can get rich quickly in an instant. But if people buy Bitcoin and keep it for a few years, they can make a profit from investing in Bitcoin.
But unfortunately, until now, there are still many people who don't know much about Bitcoin and don't want to start investing in Bitcoin. So those of us who already know Bitcoin must increase the amount of Bitcoin we have. This is so that when Bitcoin becomes a means of payment for all countries, we will already have Bitcoin and be ready with everything.
When I saw the word magical, I thought it op wants to relate Bitcoin to some kind of mystical practice that is backed by some spiritual power that we see in moves. But I assume that @BlockchainWizard called Bitcoin a magical internet money because it couldn't be touched but it could be transferred and used as a means of exchange. This is not magical anymore because even fiat can be transferred through the same means even through the blockchain in the form of CBDC.
. It would be better to use words like innovative or exceptional than magical. Bitcoin is an extraordinary money that can serve as a solution to the many pitfalls of the traditional banking system.
There is another interesting thing about Bitcoin being magic internet money, collecting bitcoin is to ensure that you have power and freedom in transactions. Bitcoin is People's money, if one day we face a dictator who freezes all access to the fiat we have, then we will still have Bitcoin for transactions. we can buy using bitcoin. Dictator rulers can close all access to Fiat, but cannot prevent them from transacting with bitcoin.
This is what makes it more magical, it is invincible . It would be better to use words like innovative or exceptional than magical. Bitcoin is an extraordinary money that can serve as a solution to the many pitfalls of the traditional banking system.BTC Very innovative as you mean. Well, when will banks be happy, when the Federal Reserve decides to raise interest rates so that Depository Institutions have to keep reserves in the form of cash or deposits in Federal Reserve Banks, but Ironically, Bitcoin has the unique ability to eliminate this need and until now it may not have existed a central entity that controls Bitcoin, including monetary policy and interest rates.
This is another reason why many people see Bitcoin as an alternative and also a payment system, a global payment system so the need for banks will be reduced but despite this, banks also have another role in the global financial system.
When I saw the word magical, I thought it op wants to relate Bitcoin to some kind of mystical practice that is backed by some spiritual power that we see in moves. But I assume that @BlockchainWizard called Bitcoin a magical internet money because it couldn't be touched but it could be transferred and used as a means of exchange. This is not magical anymore because even fiat can be transferred through the same means even through the blockchain in the form of CBDC.
. It would be better to use words like innovative or exceptional than magical. Bitcoin is an extraordinary money that can serve as a solution to the many pitfalls of the traditional banking system.
There is another interesting thing about Bitcoin being magic internet money, collecting bitcoin is to ensure that you have power and freedom in transactions. Bitcoin is People's money, if one day we face a dictator who freezes all access to the fiat we have, then we will still have Bitcoin for transactions. we can buy using bitcoin. Dictator rulers can close all access to Fiat, but cannot prevent them from transacting with bitcoin.
This is what makes it more magical, it is invincible . It would be better to use words like innovative or exceptional than magical. Bitcoin is an extraordinary money that can serve as a solution to the many pitfalls of the traditional banking system. 
Bitcoin is indeed magical internet money. The fact that it's intangible and exists only in code makes it all the more special. Its transparency limited supply and divisibility make it a good option for many people around the world. I believe that Bitcoin is more than real money. We can change it into real money anytime. And it's popularity is showing that it will be a dominant currency in the entire world.
For a number of decades, all attempts to develop a digital currency has failed. Satoshi learned from all of them and finally developed a perfectly working version. Well, that's indeed a little magical.
Of all the desirable traits of a hard and sound money, no single fiat currency has met them. Bitcoin came and offered durability, divisibility, scarcity, transparency, fungibility, being a store of value, and other characteristics of an ideal money. That seems magical as well.
But Bitcoin is real money. It isn't magic. Its creation follows a strict protocol. It isn't like how fiat is created, magically out of thin air representing nothing whatsoever.
Of all the desirable traits of a hard and sound money, no single fiat currency has met them. Bitcoin came and offered durability, divisibility, scarcity, transparency, fungibility, being a store of value, and other characteristics of an ideal money. That seems magical as well.
But Bitcoin is real money. It isn't magic. Its creation follows a strict protocol. It isn't like how fiat is created, magically out of thin air representing nothing whatsoever.
Well for some thats their belief but for me its act as a true money when it can easily be converted into real money and assets.
Most people think its a scam but that changes when they see how it works in the real world. Most prefer it as investment and a plausible commodity but sure thing many here considered that since its value have increases and decreases over time.
Most people think its a scam but that changes when they see how it works in the real world. Most prefer it as investment and a plausible commodity but sure thing many here considered that since its value have increases and decreases over time.
The Internet of Money Series with three volumes so far. It's the collection of Andreas Antonopoulos talks about Bitcoin over many years.
Bitcoin for beginners series. From the introduction to Bitcoin video, you can explore more about it with more videos in the playlist of Andreas.
Some books can be downloaded, [RESOURCES] Free bitcoin/blockchain/finance eBook.
The bullish case for Bitcoin is so insightful.
Bitcoin for beginners series. From the introduction to Bitcoin video, you can explore more about it with more videos in the playlist of Andreas.
Some books can be downloaded, [RESOURCES] Free bitcoin/blockchain/finance eBook.
The bullish case for Bitcoin is so insightful.
And Bitcoin doesn't really exist, it's just code and we can "see" it in our wallet, we can't touch it like real cash, because it's only 0 or 1 (or hashs).
Bitcoin is based on people's belief that Bitcoin has value. I believe bitcoin was consciously built based on people's feelings.
Bitcoin is not based off people's belief, people believe in it cause it has intrinsic value.It was also not designed based off "feelings", I have no idea what that even means.
When Bitcoin first started, no one was pushing it!... it was only then, when people started believing and believing in bitcoin, that bitcoin started to rise.
Just like any new innovation, there were early adopters who beleived in Bitcoin even when it did not have a market value and there are those that joined the train when it was getting speed, that's how inventions work 
Bitcoin is based on people's belief that Bitcoin has value. I believe bitcoin was consciously built based on people's feelings. When Bitcoin first started, no one was pushing it!... it was only then, when people started believing and believing in bitcoin, that bitcoin started to rise. Instill hope in the future of society, wealth, happiness, freedom etc. Bitcoin is indeed magic internet money.
There is another interesting thing about Bitcoin being magic internet money, collecting bitcoin is to ensure that you have power and freedom in transactions. Bitcoin is People's money, if one day we face a dictator who freezes all access to the fiat we have, then we will still have Bitcoin for transactions. we can buy using bitcoin. Dictator rulers can close all access to Fiat, but cannot prevent them from transacting with bitcoin.
There is another interesting thing about Bitcoin being magic internet money, collecting bitcoin is to ensure that you have power and freedom in transactions. Bitcoin is People's money, if one day we face a dictator who freezes all access to the fiat we have, then we will still have Bitcoin for transactions. we can buy using bitcoin. Dictator rulers can close all access to Fiat, but cannot prevent them from transacting with bitcoin.
Bitcoin is money, depending on the person using it. It could be money, a store of value, some gambling token, or whatever the person wants to use it for. That's the point — no one should tell you what you can or can't use it for.
And Bitcoin doesn't really exist, it's just code and we can "see" it in our wallet, we can't touch it like real cash, because it's only 0 or 1 (or hashs).
So is your money in your banks — only a small minority is actually backed by physical bank notes. 
As a Blockchain Wizard, I'm convinced: Bitcoin is magic internet money.
For me Bitcoin is not a type that can be said to be magical, Bitcoin in my opinion is not something surprising, strange, etc., Bitcoin is a type of cryptocurrency that I know is used cryptographically, even though it has no physical properties, but it can be stored and accessed transparently, the notes are encrypted just like you store notes online.Or in today's language it is digital or can be said in the form of valuable assets which are provided in exchange by rail for cash or goods, even though they have to be distributed via a public blockchain network as is done currently, for me it is not magical, maybe if you say Bitcoin is anonymous and mysterious it might make sense, just like the title given by many people to its creator Satoshi Nakamoto.
I agree, there is no magic in bitcoin. If you understand it well (A lot of technical and coding stuff) there is no magic, maybe the correct word may be “mindblowing”, I mean it is difficult to believe how it works but there is no magic on it.
People usually refers to the word "magic" when then don't understand how something works, some users quote this
People usually refers to the word "magic" when then don't understand how something works, some users quote this
Quote
Any sufficiently advanced technology is indistinguishable from magic.
Bitcoin's origin is very unknown and very mysterious. Compared to cash, Bitcoin is very unreal, we can't see it, because it is not an object, like cash.
Cash is accepted everywhere while Bitcoin is only a very small internet place
Bitcoin has much space to grow because it is still early for Bitcoin. For example, Amazon still hasn't accepted Bitcoin.
Bitcoin IS magic internet money.
Bitcoin is like dark universe existence objects.
But being digital has also many disadvantages, like hacks, where we can hear from every day.
Or if we send it to a wrong address or we have lost our private key. Cash is more easey.
But your comparison is a very good comparison, of course
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