Difference between Bitcoin and real money? - page 162.

Gembul

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Quote from: crst on September 10, 2016, 02:13:57 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?

For me, as for gambling purposes is easier if you use biotcoin. Because you should know I live in a country where the use of the dollar is very rare, and only for specific purposes only. And I think it's easier to use bitcoin than the dollar, hence why I chose bitcoin. hehe

BADecker

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Quote from: qiwoman2 on November 04, 2016, 03:59:30 AM

Bitcoin is classed as real money now and has more attributes associated with real money than normal paper currency which is actually no longer real money since president Nixon unpegged the U.S Dollar from the gold standard, thus rendering it completely worthless. It only has worth and value as long as people are still using it.

Who in the world classes Bitcoin as real money?

In the States, the Constitution says that only gold and silver are real money. So, even fiat isn't real money.

Cool

n691309

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Quote from: crst on September 10, 2016, 02:13:57 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?

The difference is that real money is physical (cash) and bitcoin is virtual, also the real money is virtual but we can withdraw them in cash, the difference I think is who accepts bitcoin and who real money, this is the main difference because the bitcoin holders can't use bitcoin everywhere we want.

staceyoh

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Bitcoin is a digital currency you can
easily send money to other people
whenever you want in just one snap.
This makes the transactions faster.

qiwoman2

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Oikos.cash | Decentralized Finance on Tron

Bitcoin is classed as real money now and has more attributes associated with real money than normal paper currency which is actually no longer real money since president Nixon unpegged the U.S Dollar from the gold standard, thus rendering it completely worthless. It only has worth and value as long as people are still using it.

rik3

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Quote from: crst on September 10, 2016, 02:13:57 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?

There are Only Two Difference Between Bitcoin and Cash Which are As Follows:-
1) Bitcoin. has Potential to Grow and With Bitcoin You can Buy Other Crypto currencies Also But Cash Has No Potential To Grow And You can't Buy Other Altcoins With Real Cash Directly.....
2) Bitcoin is a Anonymous Currency and If You Deposit Some Funds With your Bitcoin Wallet In a Casino that it Doesn't Reveals Your Identity But if You Deposit with Cash Your Identity Can Be Revealed.......

virusasog

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Quote from: DOGE12321 on November 03, 2016, 11:34:22 PM

It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.

Yup bitcoin is considered as illegal money to use in most of the countries apart from that there is no any difference between the bitcoin and the fiat currency. We need more adoption to break this wall to use bitcoin in all the places.

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Quote from: DOGE12321 on November 03, 2016, 11:34:22 PM

It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.

Its also different in usage fiat can be use right away if you have it inside you pocket unlike btc you have to use a system which understand the service.

Indrawan77

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Quote from: crst on September 10, 2016, 02:13:57 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?

We used bitcoin because we want free from centralized system, you want to invest in stock using your fiat is fine but does your stock is better than bitcoin, in this year bitcoin price already rise almost 100%, you can used fiat to gamble but you need identification to deposit and withdraw, bitcoin doesnt need any of those, the difference between dollar and bitcoin is nobody controlling while dollar is control by government

DOGE12321

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It is completely opposite to the traditional fiat payment method. It relies totally on decentralization and it's users, compared to fiat which depends on a central bank.

Zadicar

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DGbet.fun - Crypto Sportsbook

Even if they are the same as described as a currency but still they have difference in many way. Bitcoin is a digital currency and not being legalized and also not been known by all people unlike on fiat currency its being used of all people and its legalized and being controlled by the government which is opposite on bitcoin.

mace15

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There is a big difference between bitcoin and real money. When you use
bitcoin and a later of the day you still convert it into real money though.
For me, the reason's why bitcoin rather is increasing its price and you
earn profit. This gives an earnings to everyone who really uses bitcoin
and convert it into real money.

Hatuferu

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https://trueflip.io/

Quote from: genos on November 03, 2016, 09:58:38 PM

The difference of bitcoin and real money (fiat). I would say that both are did not have any different in function. But they have diference in advantage, bitcoin is have better advantage than fiat, bitcoin price is always rise against fiat.

It's not true that bitcoin price is always rise against fiat, you must understand that the basis of the price of bitcoin is with fiat hence we can say that without fiat bitcoin is worthless. We are dependent in fiat in every transaction we do since people have not fully trust bitcoin to be as a main currency.

Anyway, let us move on and accept it as it takes a long time before we can see bitcoin as a mainstream currency and we have live on the reality now.

genos

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Any store can buy, sell, and accept Crypto

The difference of bitcoin and real money (fiat). I would say that both are did not have any different in function. But they have diference in advantage, bitcoin is have better advantage than fiat, bitcoin price is always rise against fiat.

mlbs

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I think there's not much big difference with bitcoin and real money. As what others saying, they are both currencies where we can both use in purchasing goods and services. The only difference maybe is that bitcoin continues to increase its value.

Here's an example. If you have one dollar today, you can buy 10pcs of candies. Five years later, due to unstoppable price increase in commodities, your one dollar may only buy 7 candies after five years. Compare it now to bitcoin. Lets say you have 1 dollar worth of bitcoin today of which you can still buy 10 candies. But five years later, since the price of bitcoin continue to increase, then after five years, your one dollar worth of btc may purchase 13 candies or more..

Hope i made it clear though.

PokerFace3

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Quote from: tempo7 on November 03, 2016, 04:33:37 PM

The biggest difference for me is that i am looking bitcoin like an investment.

Honestly, no currency is providing such an investment opportunity. Gold would be compared with bitcoin in this regard, still gold is just a medium of exchange not a currency. Interestingly this difference is adding an advantage to bitcoin system and not talking about any extra feature of currencies.

tempo7

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The biggest difference for me is that i am looking bitcoin like an investment. To support of this idea, i convert my dollars to bitcoin. On the other hand i think there will be zero difference in future when the governments accept bitcoin as a real money.

20kevin20

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Instability can be one difference too. Money can be extremely unstable when a crisis takes place or so, but look at Bitcoin's price. It spikes all the time and we never know what to expect from it.

brian_23452

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Quote from: rizkyhiw on November 03, 2016, 04:14:36 PM

Quote from: Blitzboy on November 03, 2016, 11:45:29 AM

Quote from: lol3c on October 23, 2016, 11:30:27 AM

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes Grin

And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.

Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds Grin

You mean make profit with bitcoin in trading?
Yeah bitcoin become trader favorite to trade as the price move every seconds and so fast
This price volatile be an advantage , not like real money that have a slower price movement.

Price has started to move up and down fast only in recent times but if you look at the last couple of months then it was much stable and there was no big scope for making regular profits in bitcoin trading and that was the reason people switched their investments to altcoins to make quick profits.

rizkyhiw

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Quote from: Blitzboy on November 03, 2016, 11:45:29 AM

Quote from: lol3c on October 23, 2016, 11:30:27 AM

Easy, one is cryptocurrency which is online money and the other is fiat money which is money in a form of coins and banknotes Grin

And you don't have to pay tax for bitcoin like real money and bitcoin is not limited in only some countries like some currencies.

Yeah and I think one more difference is that it's easier to make profit with bitcoin as the price is unstable but with an upward trend and fiat money will stay the same for a long period, unlike bitcoin which can have its price changed just in seconds Grin

You mean make profit with bitcoin in trading?
Yeah bitcoin become trader favorite to trade as the price move every seconds and so fast
This price volatile be an advantage , not like real money that have a slower price movement.

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