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?
So that you can spend the bitcoins when you want to buy things that can be purchased with bitcoins?
Or, if you believe in the long term potential of Bitcoin, then so that you can increase your purchase power as the bitcoins are valued more?
Or, so that you can secure your money with a password and create a backup of your money?
Or, so that you can protect your money from the erosion of inflation caused by the excessive printing of more currency?
If I want to buy stocks or invest money I can easily invest with real $.
Bitcoin is real money.
Why would I convert my $ to bitcoins?
You already asked that. I already answered it.
If I want to gamble , I can simply gamble on websites that require $ as currency,
If you want to gamble, you can simply gamble on websites that require bitcoins as a currency. Why would you convert your bitcoins to $?
why would I convert it to bitcoins?
You've now asked that question 3 times. I've answered it once. Once is enough.
What's the difference between Bitcoins and dolars?
Here are just a few differences:
- Bitcoins are an electronic form of money. Dollars are a physical form of money made of linen.
- Bitcoins are limited in quantity. The Federal Reserve can create as many dollars as they want.
- You can create a backup of your access to bitcoins. You can't create a backup of your dollars.
- You can secure your access to your bitcoins with a password and cryptography. You can't encrypt your dollars.
- It is much easier to store a large amount of bitcoins. It can be difficult to securely store a large amount of dollars.
- You can send bitcoins over the internet. It is difficult and/or expensive to send dollars over significant distances.
What does bitcoin bring to the table that real $ don't, less taxes, more income?
Bitcoin IS real money. You've now asked the same question 4 times. I think you might have a problem with repetition.
There are many differences between bitcoin and real money. There are some advantage and disadvantages of it. The advantage of bitcoin is that it is very easy to store and earn it. You can use it as a money too. You can buy things that you want and you can use it for some investments but the disadvantage of it that some places/stores/establishments don't accept bitcoin yet. You cannot use it in other store. In the real money, the advantage of it is that it is the main money that we use. The difference is any establishment will accept it because it is real. But the disadvantage of it is sometimes it is main reason of people that became bad because of richness.
