Difference between Bitcoin and real money? - page 109.

alexsandria

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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?

Bitcoin differ from fiat money/dollars since it is decentralize and it is a digital money which has no physical value in real money. It has less tax, which makes it better. It has a crypto currency exchange which engage in exchanging with crypto currency coins that is user based.

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Quote from: Creepings on April 01, 2017, 06:51:57 PM

Quote from: citywise2 on April 01, 2017, 04:08:14 PM

There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

That is really true, though bitcoin is really unpredictable when it comes to it's price. It is really hard to know when will it change its price. They remain superior to fiat moneys, but when we talk about assets, bitcoin is not a really superior asset because there are a lot of good assets and scaled ones like gold.

Plus the difference between the platforms bitcoins and real money are being spent.Bitcoins are mostly spend online and money is mostly spend on physical shops on each country.

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Quote from: citywise2 on April 01, 2017, 04:08:14 PM

There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

That is really true, though bitcoin is really unpredictable when it comes to it's price. It is really hard to know when will it change its price. They remain superior to fiat moneys, but when we talk about assets, bitcoin is not a really superior asset because there are a lot of good assets and scaled ones like gold.

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Quote from: citywise2 on April 01, 2017, 04:08:14 PM

There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

I agree with you mate, bitcoin is more valuable than real money. When we compare real currency with bitcoin. there is a big difference. First the price, bitcoin have the high price when we compare it with all currencies. second voltatilty. I think there is not currency can increase or fall 100$ or more in one day. This is good for trading.

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Quote from: citywise2 on April 01, 2017, 04:08:14 PM

There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

But in the end you will just have to convert bitcoin into your local currency to get something you want or else you have to find a store which accepts bitcoins locally, which in fact is a very rare situation.

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Quote from: mornabo on March 31, 2017, 01:47:12 AM

Quote from: kenesu on March 30, 2017, 10:31:20 PM

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.

actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

Using bitcoin as a commodity is a side benefit from bitcoin but actually bitcoin is a like a real money which is playing its role for to benefit people on online world to give convenience to online businesses and online international transactions.

citywise2

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There is a great difference between real money and bitcoin.
You will understand that bitcoin has a great value more than real money
Let us see something like some local currency is very low in exchange but bitcoin is high.
Bitcoin remain super over other currencies..

BitHodler

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Quote from: deisik on April 01, 2017, 09:31:00 AM

Quote from: BitHodler on April 01, 2017, 04:52:20 AM

Quote from: Fatanut on April 01, 2017, 04:41:39 AM

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

You seem to have missed the whole point of the other poster

The question is about the possibility of using bitcoins offline. You strike a deal with someone and give him the keys from the wallet which contains the agreed amount. There are quite a few risks involved in such and similar deals but that is ultimately inconsequential to the fact that you can transact offline. Other than that, many offline deals involve this kind of risk, i.e. you have to trust the other party (more than the other party has to trust you) and vice versa

I got that point, but that doesn't mean the risks involved aren't worthy of being mentioned. It's more a notification for others that are going to ever do such type of trading.

Newbies (due to the lack of understanding) just assume Bitcoin is safe to be used in a certain way, or that they trust too much in Bitcoin's "anonymity". It's a common thing nowadays.

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Quote from: taxmanmt5 on March 31, 2017, 07:18:34 AM

Quote from: mornabo on March 31, 2017, 01:47:12 AM

Quote from: kenesu on March 30, 2017, 10:31:20 PM

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.

actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.

you are right that bitcoin can be online use through internet mean bitcoin is a digital currency and i think fiat is real money which can be use in local shopping store.

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The first difference that I feel Bitcoin is good at, is its value which is not the same all the time if compared to the real money that what you will give, you will get anything relevant to that exact value itself that is already written over it and it can't change. As you have asked that why you need to convert your money into Bitcoins, this is the only fact here that Bitcoins are more secure as they would let you be completely anonymous because when you will transact your $$$ from your bank for Gambling purposes, it will be known to everyone but that's not the thing with Bitcoins.

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Quote from: BitHodler on April 01, 2017, 04:52:20 AM

Quote from: Fatanut on April 01, 2017, 04:41:39 AM

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

You seem to have missed the whole point of the other poster

The question is about the possibility of using bitcoins offline. You strike a deal with someone and give him the keys from the wallet which contains the agreed amount. There are quite a few risks involved in such and similar deals but that is ultimately inconsequential to the fact that you can transact offline. Other than that, many offline deals involve this kind of risk, i.e. you have to trust the other party (more than the other party has to trust you) and vice versa

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Quote from: friesariana on April 01, 2017, 08:42:56 AM

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?

It's very simple, really.
Bitcoin is decentralized, without any government or bank control.
Bitcoin is also the most popular virtual currency, with great potential to become mainstream eventually.
If such scenario happen, btc price will jump to the sky.
So, use bitcoin if you wants alternative way of payment, in more secure way, if you like anonymity and if you can see ''big picture'' here, what bitcoin can become in the near future.

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Quote from: friesariana on April 01, 2017, 08:42:56 AM

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?

Basically, because you might earn decent profits

But this is not a given, obviously, and you might as well lose everything. And that will be your own fault since no one is forcing you to invest in bitcoins in the first place. Therefore, you should answer these questions yourself, no one guarantees you anything with Bitcoin. Ultimately, it is the same as with everything else. As the saying goes, no matter what you do in the end, this is what you intended to do all along

friesariana

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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?

Xandan

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There is not big difference anymore as we see both can be used for purchasing things when it comes to talk about value. The only difference is Bitcoin still isn't being used offline due to its nature of digital currency. Whereas fiat in its original form can't be used directly for online payment. They both are currencies one backed by governments whereas other is semi-backed at the moment.

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Quote from: BitHodler on April 01, 2017, 04:52:20 AM

Quote from: Fatanut on April 01, 2017, 04:41:39 AM

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

The blockchain system is transparent and understandable. This I like it. For me, bitcoin is real money, which is convenient to use.

BitHodler

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Quote from: Fatanut on April 01, 2017, 04:41:39 AM

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

That's an inconvenient and dangerous way of transacting. It's rule number 1 that in whatever situation you are, the private keys must be kept solely to yourself.

Other thing is that I can basically show you an address containing the coins before we complete the deal, and once I have spotted you in real, I can give someone a call to empty that adress. Piece of cake.

Fatanut

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Quote from: taxmanmt5 on March 31, 2017, 07:18:34 AM

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

Quote from: phr0stbyt3 on March 30, 2017, 07:43:03 PM

You basically can't differentiate between the 2 as both have there own features.
If you see the price of currency doesn't change while the price of bitcoin keeps increasing and decreasing.
People use currency to buy stuffs from groceries while bitcoin isn't adopted for activities like this.
Plus currency can be printed so in general it has unlimited supply while bitcoin has high demand but supply is less

Bitcoin is just more volatile and it traded a lot but fiat currencies surely do move as well. But it doesn't move as much as bitcoins.

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Quote from: mornabo on March 31, 2017, 01:47:12 AM

Quote from: kenesu on March 30, 2017, 10:31:20 PM

Bitcoin is digital currency however there are countries who accept them (eventually my country "PH" have some merchants who accepts them. I hope so in near future all the country will accept this digital currency for change.

actually bitcoin can also be regarded as real money because you can shop with bitcoin like to pay with real money. but bitcoin can also be used as a commodity, that makes the difference

Actually, bitcoin can only be access through internet connection while fiat can be used in both ways online and offline purchasing. I guess thats is the only main difference of the both. Bitcoin will never work without internet.

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