Bitcoin is not money but we can convert it into any traditional currency with the help of Cryptocurrency Trading Software. And by this, we will be able to print our bitcoin by converting it into any traditional currency which we wished for. But for this, you have to choose the best exchange software which has low exchange rates.
Totally agree with you. I do not understand your desire to print everything. In my opinion it is much to use it as an electronic resource that is always and everywhere with you.
Topic: ‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks (Read 1049 times)
Bitcoin has a fixed limit that cannot print as cash. The total supply of Bitcoin will decrease over time when someone dies, and private key holds all the Bitcoin that they keep disappearing. Over time, the total supply of Bitcoin is declining sharply, which will cause a Bitcoin price to increase over time.
Bitcoin cannot be printed because there is no physical, but as a digital currency it can be used to pay for transactions and be saved for investing in wallets in cyberspace.As time went on, the digital age finally came and they all used digital so that manual transactions could someday be replaced with digital currencies. Of course if the community's infrastructure and education are ready.
As it isn't backed by any of the financial institutions or legalized authority it isn't a currency as USD. But, with its multiple usage it has gained importance as currency as well. As it has got value it is used for exchange of things as well in reward for services rendered. In such a regard bitcoin has been getting used same as currency though it has some deviations in the features of a centralized currency.
That was the funniest statement that I came upon. So how do they look at their digital payments apps that uses smartphones to transact on banks? It's just numbers and not also printed. We are on the digital era but the bank industry still don't recognize it and I feel thatwho made this statement must 60 and above years of age.
Definitely, this argument is not going to work because of the fundamental definition of money emerges from the value to the users irrespective of creation or supreme authority managing the whole financial ecosystem. Yes, the institutions like bank have the power to manipulate the flow of traditional money but again their power is limited to to the extent of currency issued by the government of that respective country. Therefore I don't see this as a concrete argument.
you can physically print bitcoins if you wanted onto paper, it would just be the QR code on a piece of paper with the amount of the bitcoin the QR code holds and represents. By why waste the plastic (like the cdn dollar) or paper... we live in the digital age digital gangsters keep it digital. I mean it would help in the future if the main power grid went out or something.
You can print it by yourself but banks cannot because it isnt approved by governments that bitcoin should be printed and to be used just like a normal paper money but you still got a point when you say that we are now in digital world . everything now works in digital and the best part is that we can save our trees and we can save the environment when we arent printing a paper money .
In case of blackout . there are still generator that can power our gadget using a fuel
‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
Quote
“Bitcoin is not money”, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.
https://blockpublisher.com/bitcoin-is-not-money-because-we-cannot-print-it-banks/
And yet another other attack, but seriously flaw argument coming from banks. But that's fine, hearing this kind of arguments make me think that they are really threaten by crypto and afraid that one day all of them will become obsolete, or least majority of people will go to crypto, specially bitcoin.
I mean you can physically print bitcoins if you wanted onto paper, it would just be the QR code on a piece of paper with the amount of the bitcoin the QR code holds and represents. Why waste the plastic (like the cdn dollar) or paper... we live in the digital age digital gangsters keep it digital. I mean it would help in the future if the main power grid went out or something.
like this
Lol, how can we print digital coins. From the start we know about bitcoin that we cannot print it.But atleast we can convert bitcoin to fiat.
What a foolish argument! Does they even know that before paper money, people use everything that they think has value as a money? That it is only because of invention of paper money the reason why we are using it? Change is inevitable, they can't just accept that they are loosing their value because we now have a digital form of money that is why they hate it. They must accept the fact the now is the time for cryptocurrency. With their reasoning, so they are saying that online gaming on a reliable gaming site is just a child play when it is obviously wrong because me myself have earned there while easing my boredom? What a foolish argument it is.
‘Bitcoin Is Not Money’ Because We Cannot Print It – Banks
“Bitcoin is not money”, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.
“Bitcoin is not money”, the European Central Bank published a statement regarding bitcoin as not being a monetary asset. These words from the bank are immensely harsh for the crypto community. The crypto analyst and investor, Joseph Young suggests that the bank has released the statement as per the crypto assets being unprintable. Though this is an absurd manner to qualify a monetary asset as ‘money’, the bank does praise the technology in the working behind bitcoin. The technology, being the entire crypto protocols, most specifically, decentralization is breakthrough and can make up for some decent projects in the future.
now ''they'' say that bitcoin is not money because it cannot be printed because they have not put themselves ''them'' here and do not have their own coins but instead when '' they are ready to join here, then you will see that they will say the opposite. this is just a matter of not yet benefiting.
I think it is very shallow point of view.
Most of the money transfer is becoming without paper. Even some countries i heard that thinking about stopping cash transfer. Everything is through banks.
Most of the money transfer is becoming without paper. Even some countries i heard that thinking about stopping cash transfer. Everything is through banks.
Money is whatever people decides holds value. Doesn't matter what it is, seashells, gold, beanie babies, paper. Currency is just a faith based system. Fiat is a complete scam but most people are too stupid to realize or lack any real fight to go against the banks.
Correct. Banks printed a lot of money for the rich people only and poor people become poorer. Fiat does not favor people living in the lower status in the society. Money can be printed but it is a centralized one so it won't last as people prefer a decentralized one that will potentially give them financial freedom in the future. Cryptocurrencies has value so we can use it like what fiat can do but more than that crypto is more convenient than fiat. 
That's a stupid definition of money from bankers.
Just because it cannot be printed, it cannot be considered money, BTC has more value than the paper money, and with it's limited supply
it's better since it will not inflate as long it's use by the people.
Basic definition of money is it is a Medium of Exchange. (https://www.investopedia.com/insights/what-is-money/)
Just because it cannot be printed, it cannot be considered money, BTC has more value than the paper money, and with it's limited supply
it's better since it will not inflate as long it's use by the people.
Basic definition of money is it is a Medium of Exchange. (https://www.investopedia.com/insights/what-is-money/)
This is a very questionable argument, I think. But bitcoin, unlike Fiat money, cannot be faked, and if you pay with bitcoin, then the second party will know for sure that it is not a fake.
Correct, that's the point because Bitcoin cannot be fake like fiat currency. Bitcoin not be printed make it better than the fiat which can be easily fake into printed papers with fake identities and most of these fake fiat currencies are difficult to identify. Bitcoin has a unique identity which cannot be fake into any type.
This is a very questionable argument, I think. But bitcoin, unlike Fiat money, cannot be faked, and if you pay with bitcoin, then the second party will know for sure that it is not a fake.
This makes no sense at all because money is not all about banknotes and physical form. Reasons are much deeper than that. Nevertheless, the attitude of banks and governments towards cryptocurrencies will change and it is changing already. So the concept of money is changing also digitalization is rapidly developing so the state of mind should also.
I have said it before it make no sense at all for bank to say because they can not print bitcoin that make it not to be a currency, what is the definition of a currency to them because to most others a currency is any thing that can be use as a medium of payments and for exchange of goods and services and bitcoin perform this roles.
Oh yeah that's actually funny to hear you know, that the fact that we cannot print bitcoin so we cannot regard it as a currency. Are we not using all these electronic payment systems such as Visa, Master Card etc? This is the more reason why the world should rally behind the legalization of bitcoin to be accepted as a medium of payment because most governmental organizations are really cheating people when the make transactions through Central Banks. Cryptocurrencies especially bitcoin is what makes transactions very fast, safe and also comes with very little cost of transaction compared to fiat currency transactions.
Anyone who will describe Bitcoin as not being money is just ignorant and also a dumb person. 'According to (http://www.businessdictionary.com/definition/money.html)' , money is described or defined as anything of value that serves as a generally accepted medium of financial exchange, legal tender for repayment of debt, standard of value, unit of accounting measure, and means to save or store purchasing power. This perfectly explains that money can be in so many forms so far as its accepted as a means to exchange for goods and services. Bitcoin is just an advanced form of money.
I strongly disagree. bitcoin is a digital currency just like cash that we can use to buy goods or services just different forms and ways to transact. now, cash has been digitalized, such as the use of e-bangking so that we can use cash to transact online without having to have a physical form. so, bitcoin and cash are legitimate or official money that we can use to transact but how to use it differently.
That is banks versions, but for me money is not always can be print as long as it has a value. I haven't saw any definitions from some economic expert who said money is paper or other form that can be look clearly and can be hold in real. But many people says money is a tool that have a value and can be exchanged for various items, and other people agree that the tool is valuable.
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