Difference between Bitcoin and real money? - page 127.

savioroshan

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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?

you are right. Dollar can do everything that bitcoins can do. But the only thing why people prefer bitcoins is its anonymous. Transactions using bitcoins cannot be traced out but transactions with dollars can be easily traced out. Thats the main thing why people prefer bitcoins over dollars. Another thing is yeah some countries allow gambling and its legal. But there are many countries were its banned. people of those countries can do gambling with bitcoins because its not considered as legal money.Thats why people prefer bitcoin over dollars.

d@nte

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Quote from: Digital_Lord on February 12, 2017, 09:55:30 PM

Quote from: JL421 on February 12, 2017, 02:37:07 PM

Lol first of all the biggest mistake you are doing is thinking that bitcoin is a currency which we use in daily life to pay foe groceries or travel by public transport. If you keep 1000$ which is 1 btc as for now in a vault the amount still remains 1000$.
While if you see bitcoin if you buy a bitcoin it will have a increase in value and give you good returns. It is basically like gold why do people buy gold so that they can sell it in future for profit.
Same like bitcoin it is not a currency it is a investment platform.

Bitcoin is not like gold nor like any currency. it is a full technology. it is digital currency and digital gold both. bitcoin is suitable to use for multi purposes, you can use it for saving, for buying/selling, and as an investment also.
there is no match between bitcoin and real money.

Yeah, I wish more people would have realized that. Gold has value mainly because of its scarcity, and because it is a very durable form of storing value. But Bitcoin has, besides such properties, another aspect that gold does not have. For example, the possibility of being stored at very low costs, with lower security costs, and best of all, the possibility of being transferred over the internet, which allows you to save a lot of money on logistics.

xSkylarx

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Quote from: ged00u on February 13, 2017, 09:58:16 AM

Quote from: sabbirshm on February 13, 2017, 09:19:26 AM

Bitcoin is a digital currency and real money is local currency.Bitcoin price can be increased or decreased but local currency remain same.Again,bitcoins price is too high than local currency like Dollar.Bitcoin can give us many chances of getting big profit by holding it.But real money give small profit by deposit on bank.

Just let you know that local currencies or fiat money do have the ability to rise or fall, just because the difference is not much and it usually takes a certain amount of time for the currencies to increase or decrease their values. But yeah, no one can deny that bitcoin does bring us an unbelievable amount of profit thanks to its fluctuating in price.

It is because more people are appreciating its good benefits. More people demands for it which brings the price of bitcoin also rise. And bitcoin's price is usually based on us dollars, which is when you convert it to your local fiat it gets even more bigger. Unlike in fiat, its value is controlled by the government.

ged00u

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Quote from: sabbirshm on February 13, 2017, 09:19:26 AM

Bitcoin is a digital currency and real money is local currency.Bitcoin price can be increased or decreased but local currency remain same.Again,bitcoins price is too high than local currency like Dollar.Bitcoin can give us many chances of getting big profit by holding it.But real money give small profit by deposit on bank.

Just let you know that local currencies or fiat money do have the ability to rise or fall, just because the difference is not much and it usually takes a certain amount of time for the currencies to increase or decrease their values. But yeah, no one can deny that bitcoin does bring us an unbelievable amount of profit thanks to its fluctuating in price.

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Quote from: Mbah Slamet on February 13, 2017, 07:31:19 AM

I think it's obvious, difference of fiat money and the bitcoin. If someone know the bitcoin, then I'm sure he will select a bitcoin, I also feel that bitcoin many benefits especially when sending and receiving money from different countries.

Bitcoins has not grown so much to spend in all places, so I choose both fiat and bitcoins. Bitcoins are basically as an investment because its prices are more volatile so I can make some good profit over the time. But for my regular purchases, I still need only fiat currency because in my country bitcoins are not accepted in most of the places yet.

MoneyIsDebt

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Quote from: sabbirshm on February 13, 2017, 09:19:26 AM

is a digital currency and real money is local currency. price can be increased or decreased but local currency remain same.Again,s price is too high than local currency like Dollar. can give us many chances of getting big profit by holding it.But real money give small profit by deposit on bank.

i think bitcoin is usually used for the investment and trading and most of the user earn it from signature campaign or gambling or other ways and i think paper money is life..... life without paper money is can't possible so, i think paper money has its own importance and bitcoin has its own.......

sabbirshm

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Bitcoin is a digital currency and real money is local currency.Bitcoin price can be increased or decreased but local currency remain same.Again,bitcoins price is too high than local currency like Dollar.Bitcoin can give us many chances of getting big profit by holding it.But real money give small profit by deposit on bank.

Mbah Slamet

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I think it's obvious, difference of fiat money and the bitcoin. If someone know the bitcoin, then I'm sure he will select a bitcoin, I also feel that bitcoin many benefits especially when sending and receiving money from different countries.

erickkyut

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Quote from: MONKEYJUNK on February 13, 2017, 06:50:39 AM

Both could be considered as currencies however bitcoin has an edge by being available to all parts of the world and you don't need to change it into a local's currency just to buy something as long as some merchants on that area accepts it. Also, bitcoin is transparent and everyone would be able to view transactions even if its years back. Lastly, bitcoin is deflationary, no need for that QE scam that they do with fiat anyways.

I totally agree with this! Those are also the things that I really like about bitcoin. It is very true that in bitcoin, there is no need for that QE scam. Also, bitcoin can be use even without identification unlike when you are using fiat. Many people believe that bitcoin is the future universal currency.

MONKEYJUNK

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Both could be considered as currencies however bitcoin has an edge by being available to all parts of the world and you don't need to change it into a local's currency just to buy something as long as some merchants on that area accepts it. Also, bitcoin is transparent and everyone would be able to view transactions even if its years back. Lastly, bitcoin is deflationary, no need for that QE scam that they do with fiat anyways.

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Quote from: Fatanut on February 13, 2017, 02:06:55 AM

Quote from: JL421 on February 12, 2017, 02:37:07 PM

Lol first of all the biggest mistake you are doing is thinking that bitcoin is a currency which we use in daily life to pay foe groceries or travel by public transport[1]. If you keep 1000$ which is 1 btc as for now in a vault the amount still remains 1000$.
While if you see bitcoin if you buy a bitcoin it will have a increase in value and give you good returns. It is basically like gold why do people buy gold so that they can sell it in future for profit.
Same like bitcoin it is not a currency it is a investment platform.

Actually you can already use bitcoin as a currency when you use Purse.io. You can buy stuffs from Amazon using that. You can also pay your bills using bitcoin on various countries. For public transportation, I've seen someone selling in the Digital Goods some Uber coupon (or whatever it's called). Maybe the use of bitcoin as a currency is not yet fully acceptable in all places and in all services, but we'll get there eventually. You can also buy coffee from Starbucks using bitcoins. That's a good start since Starbucks is a really popular company.

That is a great development, as time passes, bitcoin is getting more popular but I don't expect it will surpass the popularity of fiat or real money. The government is a more dominant when it comes to managing the financial world, and if they say bitcoin exchange sites must be regulated, there is nothing they can do but to comply, and with that, we will also be affected as we are the end users.

Fatanut

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Quote from: JL421 on February 12, 2017, 02:37:07 PM

Lol first of all the biggest mistake you are doing is thinking that bitcoin is a currency which we use in daily life to pay foe groceries or travel by public transport[1]. If you keep 1000$ which is 1 btc as for now in a vault the amount still remains 1000$.
While if you see bitcoin if you buy a bitcoin it will have a increase in value and give you good returns. It is basically like gold why do people buy gold so that they can sell it in future for profit.
Same like bitcoin it is not a currency it is a investment platform.

Actually you can already use bitcoin as a currency when you use Purse.io. You can buy stuffs from Amazon using that. You can also pay your bills using bitcoin on various countries. For public transportation, I've seen someone selling in the Digital Goods some Uber coupon (or whatever it's called). Maybe the use of bitcoin as a currency is not yet fully acceptable in all places and in all services, but we'll get there eventually. You can also buy coffee from Starbucks using bitcoins. That's a good start since Starbucks is a really popular company.

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Quote from: JL421 on February 12, 2017, 02:37:07 PM

Lol first of all the biggest mistake you are doing is thinking that bitcoin is a currency which we use in daily life to pay foe groceries or travel by public transport. If you keep 1000$ which is 1 btc as for now in a vault the amount still remains 1000$.
While if you see bitcoin if you buy a bitcoin it will have a increase in value and give you good returns. It is basically like gold why do people buy gold so that they can sell it in future for profit.
Same like bitcoin it is not a currency it is a investment platform.

Bitcoin is not like gold nor like any currency. it is a full technology. it is digital currency and digital gold both. bitcoin is suitable to use for multi purposes, you can use it for saving, for buying/selling, and as an investment also.
there is no match between bitcoin and real money.

Kousei23

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Bitcoin is cryptocurrency money. It is a elctronic based money. You can stored it in a wallet that can downloadable using android phones as well as computers. With free hassle kind of buying and selling. You must use Bitcoin

Real Money is used when buying too but there are different way of earning it. And you can withdraw it and place it in your hand. It is somehow not safe because if you have many money in your self. There's somehow you can gamble and get all of your money.

realm

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The biggest difference in my eyes is the fixed supply, mainly because I am not totally buying the own your money thing. I mean today you own your money with btc, but no one can promise that in a couple of years we will not end up with bitcoin banks loaning people and offering interests in order for you to deposit your coins. And there goes decentralization.

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Quote from: 00hash01 on February 12, 2017, 03:12:36 AM

Even today I do not see much competition between Bitcoin and real money. Each of these currencies operates in its field. This is likely to governments and international financial institutions make problems.

yes that is right that both the two currencies have their own vales and they operate in their own field. like bitcoin is mostly use of online services and only in few places it can be use for buying stuff while USD is mostly use for buying and selling stuffs in real life and is mostly in local shops.

Colt22

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Quote from: whizter on February 08, 2017, 04:24:26 PM

Quote from: rindo on February 08, 2017, 10:13:17 AM

in my opinion
i think that the difference not only at the digital funds and physic money
cause real money will never ever and ever change the number of amounts like example 1 $ it still counting as 1 $ its different with bitcoin which usually change according by the time as u see in every time there might a change of the price for 1 bitcoin
and another of that real money already accept by the local people it might the local people whose dont know about bitcoin will not accept as the trading things
thank you

but i think it also happen in fiat some time the price of fiat fell down as compare to other fiat currency. and it is also true that 1 dollar is will remain 1 dollar and similarly 1 bitcoin will remain one bitcoin but its value changed from bitcoin to bitcoiin.

yes you are right in every currency the quantity remain the same but the value of these are changing constantly depending on their demand in the market. But the fluctuations in other currencies are very smaller that is why people do not observe the change in value and consider it as stable.

JL421

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Lol first of all the biggest mistake you are doing is thinking that bitcoin is a currency which we use in daily life to pay foe groceries or travel by public transport. If you keep 1000$ which is 1 btc as for now in a vault the amount still remains 1000$.
While if you see bitcoin if you buy a bitcoin it will have a increase in value and give you good returns. It is basically like gold why do people buy gold so that they can sell it in future for profit.
Same like bitcoin it is not a currency it is a investment platform.

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Quote from: wuvdoll on February 07, 2017, 01:00:36 PM

Quote from: sunsilk on February 06, 2017, 01:31:29 AM

Quote from: iMaster on February 05, 2017, 07:13:18 PM

I'm more suited bitcoin, just because I do not have control over the state. Authorities are cashing in on people, without thinking about our welfar...

With me, I prefer to use both because it's better if I'm going to use bitcoin in virtual shopping and real money for the things that I need in real life.

And that's the difference of it, bitcoin can be used for online shopping while we can't use it directly because the shops that do accept it are still few.

I think both virtual money in payment processors and cryptocurrency like bitcoins are different from each other. It is easy to use virtual money for daily use and if you want to use bitcoin for online shopping you must have to convert it so, for that purpose bitcoin is best but limited in use for now while in the future there will be no any hurdle for us to use it for convenient shopping hopefully.

Yes I am quite agreed with you that you cannot compare these with each other as both are completely two different types of currencies and both are used for different purposes. Bitcoin is existing and gets value just due to the demand of it whereas fiats are backed my government and gold reserves. In other words, bitcoin is people's money based on consensus agreed by people no other backing.

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Quote from: fitty on February 12, 2017, 05:49:41 AM

Quote from: mkmdoc on February 12, 2017, 05:31:52 AM

Quote from: 00hash01 on February 12, 2017, 03:12:36 AM

Even today I do not see much competition between Bitcoin and real money. Each of these currencies operates in its field. This is likely to governments and international financial institutions make problems.

According to currency they are different but operating differently. Fiat is being controlled by the government and where as bitcoin is not controlled by the government. According to technology we have to adopt because many government are willing to support bitcoin technology but how far it goes we have to wait and see.

Yeah. Bitcoins was not yet controlled by the government. Because of that, we don't pay taxes from them. On the other side, when we are scammed, the government will not be responsible for the refund of your money. But I think they will regulate it soon and very soon.

Bitcoin and fiat differs as bitcoin can be easily sent online with less fees while fiat, you need to go to remittance center to send money and it will cost much.

Maybe, the contrast difference between bitcoin and real money is while real money ruled out by government
and bitcoin decentralized as you have pointed out there is no taxes and no ruler. it's feel like a freedom of economy in country.

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