Difference between Bitcoin and real money? - page 145.

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Quote from: Yuuto on December 10, 2016, 07:27:27 PM

Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

Nope. If real money has to be paper money then you are mistaken. Fiat currency is by no means "real money". It is based on the trust in the government, and if that trust dwindles then so does the currency the government prints.

Bitcoin in my opinion is real money, and gold and silver was real money. Real money is a concept that evolves through time. It's not something that is always the same.

In this respect Bitcoin is no different from fiat

Its value is also based on something ephemeral like the trust of people in the government. Namely, that people will continue to use Bitcoin in the future and won't abandon it in favor of some other currency. That trust is also quite volatile which could be easily seen through price fluctuations. When the Bitcoin price increases, so does the trust in Bitcoin and vice versa. Only precious metals cut it somewhat as real money inasmuch as you understand it

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Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

Nope. If real money has to be paper money then you are mistaken. Fiat currency is by no means "real money". It is based on the trust in the government, and if that trust dwindles then so does the currency the government prints.

Bitcoin in my opinion is real money, and gold and silver was real money. Real money is a concept that evolves through time. It's not something that is always the same.

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Massive price drop coming...

Quote from: deadpoolx on December 10, 2016, 06:25:23 PM

Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

This is just one aspect of it. But the differences are many, such as the fact that Bitcoin is a decentralized currency, with a limited and predictable emission rate, while fiat currency is a highly inflationary currency, controlled by state authorities, which issue money according to their interests.

I think there is a difference right now i wont agree that bitcoin cant buy anything since many stores are open online that you can buy stuff services and items just like in amazon. they are gradually adopting bitcoin.. they are not the same as real money since there is still no physical bitcoin you can just use bitcoin online without internet you can not use it.. just like any other electronic payment.. .
We are just staying long and increasing it is because of the benefits of price increase and easy to use of bitcoin and earning bitcoins here in our forum..
How about casacius coin do you think we can say it as physical bitcoin?

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Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

This is just one aspect of it. But the differences are many, such as the fact that Bitcoin is a decentralized currency, with a limited and predictable emission rate, while fiat currency is a highly inflationary currency, controlled by state authorities, which issue money according to their interests.

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It's the same in terms of the way you can change thing from it but It's a big difference because virtual money is can't be see by our naked eye and even can't touch. But when the value of bitcoin and real money is the same the potential of this is also the same of course, fiat currency or crypto currency it will be still currency that you can spend of.

It is just like you have a 1 kilo of metal and 1 kilo of cotton, even though we look at the metal as a heavy object, they are still the same when it comes to weight.

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Quote from: ged00u on December 10, 2016, 10:47:50 AM

Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

It is good that Bitcoin is developed digitally. That's why Bitcoin is more secure than other FIAT. It is impossible for robbers to steal your BItcoin. Only hackers know how to take away your bitcoin directly from your wallet. However, hacking bitcoin wallet can be considered as extremely hard job, too

I don't stand in the difference between money and bitcoin which more or less most we know but to ease with many people write about wallet hacking. If someone really knows something and has proofs of this fact, doesn't matter what kind of wallet is i.e web, mobile, desktop, would be good to open a topic and present them. Otherwise writing nothing about this issue would be a sanity alternative.

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Why to gamble with bitcoin rather than with USD ? Well I wonder how could you not know , it's because with bitcoin, not a single casino and sports book accepting bitcoin will ever want to ask you a single detail from your personal life. Maximum they will require an email address which the user can create one for free for gambling with bitcoins.

Hacking bitcoin wallet ? It depends, if it's a web wallet or a third party it's easily doable. Just buy a hardware wallet and sleep tight without worries.

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Quote from: Mastsetad on December 10, 2016, 11:52:18 AM

Quote from: ged00u on December 10, 2016, 10:47:50 AM

Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

It is good that Bitcoin is developed digitally. That's why Bitcoin is more secure than other FIAT. It is impossible for robbers to steal your BItcoin. Only hackers know how to take away your bitcoin directly from your wallet. However, hacking bitcoin wallet can be considered as extremely hard job, too

Hacking a wallet is probably not a joke, there are thousands of hackers in the world and they probably would try hacking wallet every now and then and i have never seen many of them succeeding in this, many 1 out of 1000 succeed in this but that is really low numbers i guess.

i agree with you that hacking of bitcoin wallet is not easy and i think all wallet are very secure and i using bitcoin from long time but i never face to hack problem because i invest my money in bitcoin in huge amount.

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Quote from: ged00u on December 10, 2016, 10:47:50 AM

Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

It is good that Bitcoin is developed digitally. That's why Bitcoin is more secure than other FIAT. It is impossible for robbers to steal your BItcoin. Only hackers know how to take away your bitcoin directly from your wallet. However, hacking bitcoin wallet can be considered as extremely hard job, too

Hacking a wallet is probably not a joke, there are thousands of hackers in the world and they probably would try hacking wallet every now and then and i have never seen many of them succeeding in this, many 1 out of 1000 succeed in this but that is really low numbers i guess.

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Quote from: ged00u on December 10, 2016, 10:47:50 AM

Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

It is good that Bitcoin is developed digitally. That's why Bitcoin is more secure than other FIAT. It is impossible for robbers to steal your BItcoin. Only hackers know how to take away your bitcoin directly from your wallet. However, hacking bitcoin wallet can be considered as extremely hard job, too

Yeah, hacking a bitcoin wallet really needs some serious skills. You must know mamy hacking techniques to do it. You can't just do it for fun. You must study your target well to not fail. Once you fail, you might be caught and face many charges. Many large bitcoin holders are already aware of this thing so it will be really difficult to hack a bitcoin wallet.

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Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

It is good that Bitcoin is developed digitally. That's why Bitcoin is more secure than other FIAT. It is impossible for robbers to steal your BItcoin. Only hackers know how to take away your bitcoin directly from your wallet. However, hacking bitcoin wallet can be considered as extremely hard job, too

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Quote from: zidanw on December 10, 2016, 01:58:12 AM

many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

That's not the main difference, you are tackling only on a minor difference. Bitcoin and real money has a big difference and the big difference is that bitcoin is created by satoshi which is an anonymous person while real money is created by the government.

By looking at the two, you can tell that you should trust the government as they are created to protect the humanity but it is not what we are seeing and that makes bitcoin so popular because the real freedom is not with the government but in a decentralized community.

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many differences between bitcoin and real money, simple example bitcoin is not shaped (digital currency) and real money can be use in local shops

Taki

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First of all bitcoin is real money. And for my taste there is no difference between bitcoin and fiat. Yes it doesn't depended from the government. But to me the main difference is that I actually can't hold bitcoins in my hands and that's it. Grin

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Quote from: GregH37 on November 29, 2016, 07:27:35 AM

To me the main difference is future and past. Bitcoin is the future and the real dollar etc is past. As world is going to be digitized so there would also be need of digital currency which is bitcoin. So this is the start and in future our names will write in history that we were the very early users of this currency.

Yes it is a right that in future bitcoin is going to be one of the most popular crypto currency of the world as it is the need of the day, we can see that people are entering in the world of bitcoin and adopting it as currency as the new generation is looking toward the online business rather than using real money.

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Anyway we look or take we will need both reason is we exchange bitcoin to real money to spend it later
Like it or not both coexist and will do that in years to come

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Quote from: 5thangel on December 04, 2016, 03:20:41 AM

Quote from: twodrive01 on December 03, 2016, 05:59:45 PM

I think the point is that there are not enough merchants yet. When there are more merchants this question will be moot.

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Quote from: ClaraLuV on December 06, 2016, 04:17:02 AM

When the reward ratio for mining decreases i am not sure people will be mining and it wont be worth to do so because the price you have to pay for electricity will be huge compared to the fees to get through transactions so at the end of the day we get many junk hardware which is not worth a penny. Bitcoin is real money in my opinion

Mining will always remain profitable

Mining costs differ substantially among miners as well as their profit margins. Thereby, if some miners choose to leave, the mining difficulty will get adjusted eventually, and remaining miners which remain profitable will mine the bitcoins that would otherwise have been mined by those who chose to quit. In this way, their profits will get a boost. Apart from that, if Bitcoin price should increase in the future, miners revenue in the form of fees will increase too in fiat terms. Moreover, for Bitcoin adoption to expand, which is required for further growth in prices, blocks should accommodate more transactions in the future, while more transactions means higher revenue in bitcoins as such

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Quote from: azguard on December 06, 2016, 03:24:50 AM

Quote from: Xester on December 05, 2016, 03:46:31 AM

Quote from: Natalim on December 05, 2016, 01:50:38 AM

Quote from: Mirconome on December 05, 2016, 12:47:38 AM

Quote from: conected on December 04, 2016, 07:42:36 AM

Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

Money does not have fees. That's called the tax. we have to pay taxes to use the money while Bitcoin does not require users to pay tax. We only have to charge the fee for the miners to confirm our transactions. Bitcoin will be used to buy most of the things in the future. We can still buy many things online with Bitcoin

It is clear that the whole problem in taxes, and that bitcoin that can relieve, but paper money on a lot easier. Bitcoin is a complex thing, and they can use only those that understand what it is.

It is, we need both while paper money is a necessity for us to survive in this world as that is the only one approved by the government as our legal tender. Some if not all of us here are making a journey in bitcoin since we believe that we can achieve our goal here being inspired by the successful early investors. Here, no tax so we can maximize our income, therefore it's an investment for us.

In my opinion we both need money and bitcoin. There is a big difference between and bitcoin and that difference is a thing we must understand to survive in todays cryptocurrency system. Bitcoin cryptocurrency cannot reach out to far flung areas that has no internet connection and to people without computers, it means that the world is not yet ready to embrace bitcoin to replace fiat currency, but we need fiat currency to support bitcoin to make it bloom until it is ready.

We definitely need both cuz they coexist as one. If the question is why answer can be even simpler we earn bitcoin but still can spend it in every day need shopping for food in stores or to but shoes or suit or jeans. That why we convert our bitcoin to money so we can spend it. In next several years i think we can see many places that will accept btc for everyday payment but for now only few does.

I agree, bitcoin will be worthless without real money. Its value is based on fiat or real money. If we don't have fiat or it was not invented then bitcoin would also not be invented too.

And yeah i think so too. In the future many will adopt the bitcoin because of its huge value and let's hope for more stores accepting bitcoin as payment. All we should do now is accumulate bitcoin while we can.

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Quote from: Sierra82fit on December 05, 2016, 02:23:07 PM

Bitcoin discern the status of all users in a few years. When mining comes to an end, the price of bitcoin will grow in several times. Therefore, I would bet on bitcoin, at least today.

When the reward ratio for mining decreases i am not sure people will be mining and it wont be worth to do so because the price you have to pay for electricity will be huge compared to the fees to get through transactions so at the end of the day we get many junk hardware which is not worth a penny. Bitcoin is real money in my opinion

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Quote from: Xester on December 05, 2016, 03:46:31 AM

Quote from: Natalim on December 05, 2016, 01:50:38 AM

Quote from: Mirconome on December 05, 2016, 12:47:38 AM

Quote from: conected on December 04, 2016, 07:42:36 AM

Quote from: daringdiscovered on December 04, 2016, 07:34:18 AM

Bitcoin is a digital currency while real money is a physical currency. Bitcoin has no physical appearance, real money have different appearnce depending on which country it is. Bitcoin can't buy anything yet. And bitcoin has low fees than real money.

Money does not have fees. That's called the tax. we have to pay taxes to use the money while Bitcoin does not require users to pay tax. We only have to charge the fee for the miners to confirm our transactions. Bitcoin will be used to buy most of the things in the future. We can still buy many things online with Bitcoin

It is clear that the whole problem in taxes, and that bitcoin that can relieve, but paper money on a lot easier. Bitcoin is a complex thing, and they can use only those that understand what it is.

It is, we need both while paper money is a necessity for us to survive in this world as that is the only one approved by the government as our legal tender. Some if not all of us here are making a journey in bitcoin since we believe that we can achieve our goal here being inspired by the successful early investors. Here, no tax so we can maximize our income, therefore it's an investment for us.

In my opinion we both need money and bitcoin. There is a big difference between and bitcoin and that difference is a thing we must understand to survive in todays cryptocurrency system. Bitcoin cryptocurrency cannot reach out to far flung areas that has no internet connection and to people without computers, it means that the world is not yet ready to embrace bitcoin to replace fiat currency, but we need fiat currency to support bitcoin to make it bloom until it is ready.

We definitely need both cuz they coexist as one. If the question is why answer can be even simpler we earn bitcoin but still can spend it in every day need shopping for food in stores or to but shoes or suit or jeans. That why we convert our bitcoin to money so we can spend it. In next several years i think we can see many places that will accept btc for everyday payment but for now only few does.

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