Difference between Bitcoin and real money? - page 163.

el kaka22

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Quote from: Blitzboy on November 03, 2016, 10:45:29 AM

Quote from: lol3c on October 23, 2016, 10:30:27 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

If you are enough skilled, you will get chances to make same huge profits from Forex trading, it is nothing but trading with fiat pairs. But I agree, compared to Forex trading, bitcoin trading is significantly easier and predictable in my experience too. But trading currencies and making profits is definitely not new just because of bitcoin ecosystem.

serjent05

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Quote from: SvenBomvolen on November 03, 2016, 10:14:02 AM

There is big difference between this two, they are not created on the same way, they are not distributed on the same way, and for now you can`t spend bitcoins on so many places like you can real money. And bitcoin is just in digital form, real money have bills.
For me these are most visible differences, and differences that are most easier to understand. There are other more deeper differences, but this is how average person understand bitcoin and real cash.

I agree, the very obvious difference is, paper money is tangible bitcoin is not. paper money can be use everywhere, bitcoin can be use somewhere. Paper money is backed by gold reserve, bitcoin is backed by speculations ( at this moment). Bitcoin can be send anywhere in the world from one bitcoin wallet to another bitcoin wallet directly while money need a third party to be transfered anywhere in the world

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Quote from: lol3c on October 23, 2016, 10:30:27 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

eternalgloom

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Quote from: mrcash02 on October 23, 2016, 10:34:18 AM

Bitcoin is money. The only difference is that we can't have BTCs on real life. It only exists on the virtual world. But Bitcoin has advantages: We don't need to pay high fees like our local currencies; The transactions are fast and anonymous; Bitcoin is a crypto-currency and we don't have bureucracy to use Bitcoins, and I hope it continues like now for a long time.

I find it often a bit exagerrated that you'd have to pay such high fees for paying or transferring fiat money.
There is also enough competition in that area, so can can basically pick and choose the cheapest one.

Bitcoin does have a lot of advantages, but it also has some disadvantages over fiat. You mentioned one, it can also be used if you have a internet connection (virtual world)

SvenBomvolen

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There is big difference between this two, they are not created on the same way, they are not distributed on the same way, and for now you can`t spend bitcoins on so many places like you can real money. And bitcoin is just in digital form, real money have bills.
For me these are most visible differences, and differences that are most easier to understand. There are other more deeper differences, but this is how average person understand bitcoin and real cash.

bitbunnny

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When you spend them there is no difference. They both feel good. Grin

The main difference is the Bitcoin is independent from any financial or governments institutom and it has now control or manipulation. That is also its main advantage. And you have greater deal of anonimity compared to fiat money.

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Quote from: Natalim on November 03, 2016, 09:46:10 AM

Bitcoin is not regulated but real money is a legal tender regulated by the government. There's actually a lot of difference but I only state what is important here. Bitcoin is decentralize while real money is centralized. Big difference.

Decentralization is the major factor that differentiate bitcoin from real money. Next is the usage, technically advanced people can use it but real money can be easily used even by an illiterate. On account of such factors bitcoin takes lot time to reach an acceptance similar to real money.

TraderETH

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Actually there are many different between bitcoin and real money but the most i like from bitcoin i can take it from market to other markets without many problem and i can use arbitase strategy (looking for gap price on every markets).

Natalim

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Bitcoin is not regulated but real money is a legal tender regulated by the government. There's actually a lot of difference but I only state what is important here. Bitcoin is decentralize while real money is centralized. Big difference.

marleybobthedog

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In my sense bitcoin is actually dial asset which is counted in term of real money. It is just a number which is stored in computer as 1s and 0s that's it. It is not printed like traditional paper currency it is just transferd from 1 wallet to another.

stomachgrowls

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Quote from: poplolnman on November 03, 2016, 06:33:59 AM

Quote from: Raja_MBZ on October 23, 2016, 10:43:33 AM

Bitcoin is much better than real money... Why? Because:

-the real money doesn't grow itself, while bitcoin's value could grow wildly.
-own a paper wallet, two simple codes can hold as much money as you want.
-bitcoin is not owned by anyone, it means no taxes, no rules, no cries.

the contrast difference between bitcoin and real (fiat) money are 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.

Thats the difference of bitcoins from a real money which is not being legalized and regulated by the government. Its really a freedom for us because we pay no taxes to the government and we have the full control of our funds and no one could able to get it from us.

thejaytiesto

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People that is not within the bitcoin game and constantly looking for news, learning the technology and owning some, thing bitcoin is not "real money".

The best way to convert those people into believers is by buying something fancy with bitcoin. I wish Bitcoin went to 10k or at least 5k per coin, so I can get a new cool car, then people will learn that bitcoin is real money. Like it or not, this is the most effective way to be taken serious.

poplolnman

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Quote from: Raja_MBZ on October 23, 2016, 10:43:33 AM

Bitcoin is much better than real money... Why? Because:

-the real money doesn't grow itself, while bitcoin's value could grow wildly.
-own a paper wallet, two simple codes can hold as much money as you want.
-bitcoin is not owned by anyone, it means no taxes, no rules, no cries.

the contrast difference between bitcoin and real (fiat) money are 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.

Douglazzz

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Bitcoin is your money in bank or in an account therefore real money is what you are using in markets or to buy anything.

knyolku123

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bitcoin is currency same with real money.
what makes the difference is the value of bitcoin is always grow up and can be used for investment while the increase in value of money is very weak.

fantoos

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There are few basic differences like Bitcoin is deflationary and it's value can go upward with the passage of time as it will see more adoption and acceptance. It provides you much more freedom to use more freely while your wealth is safe and accessible. Fiat money you need to secure by taking extra measures and you are dependent on banks and have limitations of use in certain time periods. Bitcoin is innovation and future of digital currency soon paper money will disappear in near future.

Raja_MBZ

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Bitcoin is much better than real money... Why? Because:

-the real money doesn't grow itself, while bitcoin's value could grow wildly.
-own a paper wallet, two simple codes can hold as much money as you want.
-bitcoin is not owned by anyone, it means no taxes, no rules, no cries.

pacifista

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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 can be use only on online markets that accepts btc.real money can be used anywhere and at any time. The only difference is thier value.

mrcash02

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Bitcoin is money. The only difference is that we can't have BTCs on real life. It only exists on the virtual world. But Bitcoin has advantages: We don't need to pay high fees like our local currencies; The transactions are fast and anonymous; Bitcoin is a crypto-currency and we don't have bureucracy to use Bitcoins, and I hope it continues like now for a long time.

lol3c

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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.

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