Difference between Bitcoin and real money? - page 101.

agamasrori

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Quote from: FlightyPouch on April 27, 2017, 04:55:07 PM

Quote from: duckydonald on April 26, 2017, 12:29:44 PM

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

Obviously, that is digital currency, it has no physical coin at all. And not all people don't have a faith in bitcoin, they just don't know what is bitcoin and what it holds in the future. Another thing, not all people like to hold their money, especially when you have too much, they keep it in a bank and own an ATM for withdrawing if they needed them. It is like bitcoin if you ask me,but, the bank is yourself and you supervise your own money. There are many difference of bitcoin into fiat, what I love is it's decentralization.

Thats also explain that using bitcoin could give us full control but if we use paper money and we keep it in bank so government can also controls our money. some countries were do limitation to withdrawl money in bank in every month.

Silberman

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Quote from: crst on September 10, 2016, 01:13:57 PM

I've discovered Bitcoin few days ago, but I am skeptical about few things, why would I invest money in Bitcoins at the end of the day,why would I convert money into Bitcoins?

If I want to buy stocks or invest money I can easily invest with real $. Why would I convert my $ to bitcoins?
If I want to gamble , I can simply gamble on websites that require $ as currency, why would I convert it to bitcoins?
What's the difference between Bitcoins and dolars? What does bitcoin bring to the table that real $ don't, less taxes, more income?

If you don’t fell comfortable investing in bitcoin then don’t do it no one is obligating you, we have investment in bitcoin because we believe in the technology and the way it can affect the future of finance around the world.

FlightyPouch

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Quote from: duckydonald on April 26, 2017, 12:29:44 PM

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

Obviously, that is digital currency, it has no physical coin at all. And not all people don't have a faith in bitcoin, they just don't know what is bitcoin and what it holds in the future. Another thing, not all people like to hold their money, especially when you have too much, they keep it in a bank and own an ATM for withdrawing if they needed them. It is like bitcoin if you ask me,but, the bank is yourself and you supervise your own money. There are many difference of bitcoin into fiat, what I love is it's decentralization.

timerland

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Quote from: duckydonald on April 26, 2017, 12:29:44 PM

The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

I may agree with you partly, because in fact many people do not trust cryptocurrencies at all, even in bitcoin because thsy simply cannot touch, see or smell it. So they might think it has no real value: but it is not true, there are many things which are worth a lot but do not really exist physically, for example expensive skins in games.

But there are way more differences between fiat money and cryptos, you need to remember that for example bitcoin is a decentralized currency, when a US dollar is emitted by the federal reserve: so it is not decentralized.

Sundark

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Quote from: deisik on April 27, 2017, 02:34:47 PM

To add insult to injury, I missed a 5% cashback on my purchase which I would have received if I had paid with the card.

This is a known practice. If you use PayPal you don't pay for it, but instead merchants need to pay "transaction fee" for you.
I don't know if that fee is the same in every case, but when you are using ebay to sell items the fee for each transaction is 2.9% + $0.30 USD of the amount you receive.

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Quote from: phr0stbyt3 on April 26, 2017, 03:35:40 PM

Quote from: Duzter on April 24, 2017, 10:24:18 PM

Quote from: Finestream on April 24, 2017, 08:55:42 PM

Quote from: sobsitesearch on April 24, 2017, 08:26:31 PM

Quote from: Lauren Smith on April 24, 2017, 08:10:49 PM

Money is nothing more then something we have given value to and is small and easy to carry and use everywhere. You can trade money for anything you want since it has value. Bitcoin is the same since it also has value but usually Bitcoin is seem more as an asset like stocks. That's why the exchanges are basically digital stock markets.

Correct sir, in real money all people can able to used it even poor people they can while in bitcoin limited people can used it because not all people can afford gadgets to access bitcoin.
For now bitcoin is much better to invest than using real money because the value of bitcoin now is very high and it was continuous increasing, more investor now start to add some amount of money as bitcoin investment.

If you will look at the bigger picture, you will see that majority of the world's population are still poor and because of their status in life they will not be interested with the newest technology, their main purpose to live now is just to earn money to buy food at the very simple way that they know.

That's true, when one gets the basic requirement he/she focus towards the next level of growth. There are people who are struggling to find even a one time food. In such scenario technology aspects won't make them attracted to it, though it provides them some earning access.

That's sad but it is also true. There are more than 500 million people in world who are not aware of google itself so how can we expect them to adapt to digital payments or even be aware of bitcoin.

really unfortunate to hear about that fact , and yes a lot of people still unware and unwilling to know & adopt a new thing , a new technology to their lives. and it makes really hard to accept that those people are so far from bitcoin knowledge .

real money easily to adopt as it has simplier concept and has exist for thousands of years.

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Quote from: Fatanut on April 27, 2017, 02:07:20 PM

Quote from: geegaw on April 26, 2017, 08:05:57 AM

I think between bitcoin and real money there is not much difference because bitcoin is also money, exactly is a virtual currency and the value of bitcoin can be exchanged for real money. The nature of bitcoin and real money is the same, it only differs in how the transaction, storage and value of bitcoin can increase in the future, real money is not. Bitcoin is the most commonly used virtual currency on the internet, real money is commonly used in the real world and real money is legal but bitcoin is not, here are some differences that I see

I doubt that. Paypal user base is far greater than bitcoin's. Almost everyone has a bank account and almost everyone loves to do online shopping. They need Paypal for that. We are nothing compared to the amount of people that don't know about bitcoins, too busy to care about bitcoins, or haven't even heard of bitcoins. Fiat money is the King in both the real world and digital/virtual world. I don't see any reason why would you think that bitcoin is except if you're limiting your choices on cryptocurrencies only (which is obviously not the case)

I basically agree that the user base of PayPal is wider than that of Bitcoin

But I disagree that you absolutely need a PayPal account to do online shopping. I have such an account, and I used it only once to buy some stuff online. That was my mistake. I could just use my payment card directly, and I would not have to make currency conversions at very unfriendly exchange rates at PayPal. To add insult to injury, I missed a 5% cashback on my purchase which I would have received if I had paid with the card. After that I used only my bank card at every shop, and I'm a big fan of online shopping myself. And every online shop accepted payment via payment cards. If you are afraid to reveal your card details, many banks allow you to create a one-off virtual card and use it to pay for the stuff you are going to buy online

Fatanut

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Quote from: geegaw on April 26, 2017, 08:05:57 AM

I think between bitcoin and real money there is not much difference because bitcoin is also money, exactly is a virtual currency and the value of bitcoin can be exchanged for real money. The nature of bitcoin and real money is the same, it only differs in how the transaction, storage and value of bitcoin can increase in the future, real money is not. Bitcoin is the most commonly used virtual currency on the internet, real money is commonly used in the real world and real money is legal but bitcoin is not, here are some differences that I see

I doubt that. Paypal user base is far greater than bitcoin's. Almost everyone has a bank account and almost everyone loves to do online shopping. They need Paypal for that. We are nothing compared to the amount of people that don't know about bitcoins, too busy to care about bitcoins, or haven't even heard of bitcoins. Fiat money is the King in both the real world and digital/virtual world. I don't see any reason why would you think that bitcoin is except if you're limiting your choices on cryptocurrencies only (which is obviously not the case).

1Referee

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Quote from: optigon on April 26, 2017, 03:42:41 PM

Yeah very few people prefer to go for cashless world as some of them are even scared of using credit cards for making purchases

Credit cards are pure trash. They allow people to spend money they don't actually have, plus you're subject to insane fees. Nowadays banks are pushing with their apps that will allow people to pay with their smartphone or bank card through NFC. Best of all, it's instant and free.

Quote from: optigon on April 26, 2017, 03:42:41 PM

we cannot expect them to start using bitcoins as they will always prefer to use fiat for their shopping purposes.

Of course, Bitcoin at this point doesn't offer people a viable payment option in local situations. It makes no sense to ditch fiat for something that doesn't lend itself to be used in the same manner, with the same level of convenience. Ask yourself, why would you go through the hassle of obtaining Bitcoin, hoping that the value doesn't drop in the meanwhile, where you then spend it, while you can skip all of this directly by using fiat?

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Quote from: optigon on April 26, 2017, 03:42:41 PM

Quote from: phr0stbyt3 on April 26, 2017, 03:35:40 PM

Quote from: Duzter on April 24, 2017, 10:24:18 PM

Quote from: Finestream on April 24, 2017, 08:55:42 PM

Quote from: sobsitesearch on April 24, 2017, 08:26:31 PM

Quote from: Lauren Smith on April 24, 2017, 08:10:49 PM

Money is nothing more then something we have given value to and is small and easy to carry and use everywhere. You can trade money for anything you want since it has value. Bitcoin is the same since it also has value but usually Bitcoin is seem more as an asset like stocks. That's why the exchanges are basically digital stock markets.

Correct sir, in real money all people can able to used it even poor people they can while in bitcoin limited people can used it because not all people can afford gadgets to access bitcoin.
For now bitcoin is much better to invest than using real money because the value of bitcoin now is very high and it was continuous increasing, more investor now start to add some amount of money as bitcoin investment.

If you will look at the bigger picture, you will see that majority of the world's population are still poor and because of their status in life they will not be interested with the newest technology, their main purpose to live now is just to earn money to buy food at the very simple way that they know.

That's true, when one gets the basic requirement he/she focus towards the next level of growth. There are people who are struggling to find even a one time food. In such scenario technology aspects won't make them attracted to it, though it provides them some earning access.

That's sad but it is also true. There are more than 500 million people in world who are not aware of google itself so how can we expect them to adapt to digital payments or even be aware of bitcoin.

Yeah very few people prefer to go for cashless world as some of them are even scared of using credit cards for making purchases and we cannot expect them to start using bitcoins as they will always prefer to use fiat for their shopping purposes.

It will happen eventually that we could shop and purchase with bitcoin in everyday, but still people like paper money, i mean lot of them use this and some prefer to play with credit and debit card, but bitcoin will eventually overcome this cuz its not have physical form like money.

Believe that we will see this in maybe 10 or so year cuz for this to happen need lot of thing to change and some to adopt, question is who is willing to do this.

Lady Coquet

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There is a big differences between bitcoin and real money because bitcoin is not accepted by the government and real money is accepted by the government and it is use as a real transaction. But as far as i see that bitcoin is easy to earn than real money.

optigon

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Quote from: phr0stbyt3 on April 26, 2017, 03:35:40 PM

Quote from: Duzter on April 24, 2017, 10:24:18 PM

Quote from: Finestream on April 24, 2017, 08:55:42 PM

Quote from: sobsitesearch on April 24, 2017, 08:26:31 PM

Quote from: Lauren Smith on April 24, 2017, 08:10:49 PM

Money is nothing more then something we have given value to and is small and easy to carry and use everywhere. You can trade money for anything you want since it has value. Bitcoin is the same since it also has value but usually Bitcoin is seem more as an asset like stocks. That's why the exchanges are basically digital stock markets.

Correct sir, in real money all people can able to used it even poor people they can while in bitcoin limited people can used it because not all people can afford gadgets to access bitcoin.
For now bitcoin is much better to invest than using real money because the value of bitcoin now is very high and it was continuous increasing, more investor now start to add some amount of money as bitcoin investment.

If you will look at the bigger picture, you will see that majority of the world's population are still poor and because of their status in life they will not be interested with the newest technology, their main purpose to live now is just to earn money to buy food at the very simple way that they know.

That's true, when one gets the basic requirement he/she focus towards the next level of growth. There are people who are struggling to find even a one time food. In such scenario technology aspects won't make them attracted to it, though it provides them some earning access.

That's sad but it is also true. There are more than 500 million people in world who are not aware of google itself so how can we expect them to adapt to digital payments or even be aware of bitcoin.

Yeah very few people prefer to go for cashless world as some of them are even scared of using credit cards for making purchases and we cannot expect them to start using bitcoins as they will always prefer to use fiat for their shopping purposes.

phr0stbyt3

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Quote from: Duzter on April 24, 2017, 10:24:18 PM

Quote from: Finestream on April 24, 2017, 08:55:42 PM

Quote from: sobsitesearch on April 24, 2017, 08:26:31 PM

Quote from: Lauren Smith on April 24, 2017, 08:10:49 PM

Money is nothing more then something we have given value to and is small and easy to carry and use everywhere. You can trade money for anything you want since it has value. Bitcoin is the same since it also has value but usually Bitcoin is seem more as an asset like stocks. That's why the exchanges are basically digital stock markets.

Correct sir, in real money all people can able to used it even poor people they can while in bitcoin limited people can used it because not all people can afford gadgets to access bitcoin.
For now bitcoin is much better to invest than using real money because the value of bitcoin now is very high and it was continuous increasing, more investor now start to add some amount of money as bitcoin investment.

If you will look at the bigger picture, you will see that majority of the world's population are still poor and because of their status in life they will not be interested with the newest technology, their main purpose to live now is just to earn money to buy food at the very simple way that they know.

That's true, when one gets the basic requirement he/she focus towards the next level of growth. There are people who are struggling to find even a one time food. In such scenario technology aspects won't make them attracted to it, though it provides them some earning access.

That's sad but it is also true. There are more than 500 million people in world who are not aware of google itself so how can we expect them to adapt to digital payments or even be aware of bitcoin.

duckydonald

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The only difference is that we cannot hold bitcoins physically in our wallet and that is the reason people don't have faith in bitcoins and prefer to use fiat money as they can hold it easily and that makes them to trust fiat more over bitcoins.

boyptc

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Quote from: staff_1307 on April 26, 2017, 08:08:09 AM

Bitcoin is anonymous crypto currency, but it is not so easy to use as real money.

You mean that it is not easy to use because there are few stores that are accepting it right now? It's very easy to use because you can sell it and convert it to fiat. The real difference of bitcoin is it is not covered by the law while real money is being covered and controlled by the government law besides it's popular comparison as crypto/digital and fiat/paper.

dmamigo

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Quote from: staff_1307 on April 26, 2017, 08:08:09 AM

Bitcoin is anonymous crypto currency, but it is not so easy to use as real money.

More than just a crypto currency, Bitcoin can also work has investment and can grow your money, where as Real Money or Local Currency can only be used for transactions

staff_1307

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Bitcoin is anonymous crypto currency, but it is not so easy to use as real money.

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I think between bitcoin and real money there is not much difference because bitcoin is also money, exactly is a virtual currency and the value of bitcoin can be exchanged for real money. The nature of bitcoin and real money is the same, it only differs in how the transaction, storage and value of bitcoin can increase in the future, real money is not. Bitcoin is the most commonly used virtual currency on the internet, real money is commonly used in the real world and real money is legal but bitcoin is not, here are some differences that I see

naughty1

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Quote from: DoublerHunter on April 26, 2017, 02:24:52 AM

Quote from: Hatuferu on April 26, 2017, 02:11:48 AM

Quote from: nasipadang on April 26, 2017, 12:02:39 AM

Quote from: deepaksharma on April 25, 2017, 11:28:23 PM

the main difference is that real money is printed on papers while bitcoins is digital crypto currency

Many of us know about it digital and non digital, more specific real money is controlled by the government and bitcoin decentral, real money just a means of payment and bitcoin multifunctional can be investment

True and we will be regulated by the government soon, bitcoin will grow because the crypto world is getting the attention of big investors.
Believe me in 10 years from now the value would substantially increase, the government then will try to regulate bitcoin due to a possible threat.

I agree with you that bitcoin will be regulated by the government because government will try to control this opportunity and they don't want to lose this good opportunity for them to make profits, When bitcoin is controlled by the government they will charge taxes from transactions aside from fees and because of the regulation of government for bitcoin, it will be implemented in different countries because they control it and they can get profit with it.

Profits from bitcoin will greatly enrich their country, however, if we are the bitcoin users in their country, things will get worse. Because we have to pay for the transaction, and pay taxes to the government, which makes us lose more money, it is too costly for us. I like free bitcoin, and I think it's better.

Janation

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Quote from: lemonade09 on April 26, 2017, 05:03:16 AM

The only difference of bitcoin in real money is bitcoin is just a digital or virtual money unlike a real money or cash we can carry it whenever we wanted and anywhere we want we can also carry our bitcoin but in our bitcoin wallet and cannot be carry physically.Bitcoin and real money like dollar for example are both currency and both we can use it to buy thing but at this point we can't use bitcoin yet in many stores because they dont accept bitcoin for now maybe in the future bitcoin will get many partnerships.

Well, we don't literally carry it, but we can say that it is with us. The efficiency of paying and buying things from bitcoin will really change the future. But I love how we will be having freedom with our money. Though it is really frustrating that there are only few stores that accept bitcoin.

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