Topic: Difference between Bitcoin and real money? - page 23. (Read 114867 times)
One is a legal tender issued by government and can't be denied as per government laws. Other isn't legal, and holds a value that is agreed upon by seller and buyer.
I think the difference between bitcoin and real money is from its use, bitcoin is a digital currency whose use is still limited and online while real money you can use it anywhere because all can receive real money.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name.
You can use Bitcoin to buy things electronically. So in this particular way the Bitcoin is like conventional currency like euro, dollar etc. which can also be used to purchase things electronically.
The most important characteristic of Bitcoin and what specifically differentiates it from conventional money is that it is decentralized i.e. no one particular institution has complete control over bitcoin network. Many people like this feature because they like the fact that no large bank can control their money.
You can use Bitcoin to buy things electronically. So in this particular way the Bitcoin is like conventional currency like euro, dollar etc. which can also be used to purchase things electronically.
The most important characteristic of Bitcoin and what specifically differentiates it from conventional money is that it is decentralized i.e. no one particular institution has complete control over bitcoin network. Many people like this feature because they like the fact that no large bank can control their money.
hi everyone...
we all know that bitcoin is a online currency... it is a non visible assets.. on the other hand money can use any palce...real money have its physical characteristic.... i think that is the basic difference.
we all know that bitcoin is a online currency... it is a non visible assets.. on the other hand money can use any palce...real money have its physical characteristic.... i think that is the basic difference.
The big unique thing about bitcoin is that someone developed a mathematical mechanism to insure that no bitcoin can be spent twice. If I give you a piece of real money, there is no mechanism for me to keep me from spending that piece of real money again, whereas once I give you a bitcoin, I cannot spend it again.
You then get into some deep questions about "what is money?" I don't think that bitcoin is any more "fake" than US dollars, most of which are electronic anyway.
You then get into some deep questions about "what is money?" I don't think that bitcoin is any more "fake" than US dollars, most of which are electronic anyway.
Yes, it is clear that bitcoin has a lot of difference with real money. Bitcoin is a virtual currency and bitcoin payment must have internet. Great value, not depend on the government of any country. Real money is printed in a specific shape and is suitable for small payments. And it depends on the government.
Both bitcoins and real money are currencies, except one of them is digital. I think in the future it will be easier to have bitcoin instead of cash when you go somewhere
The difference between bitcoin and real money is very clear.
BITCOIN
1. digital money
2. not real
3. virtual currency
4. get signatures and mining.
5. not affected by the government.
REAL MONEY
1. not digital (cartal)
2. real
3. as a medium of buying and selling
4. as a banking or payment tool
5. issued by a government agency of a country
so a very striking contrast between BITCOIN and REAL MONEY.
BITCOIN
1. digital money
2. not real
3. virtual currency
4. get signatures and mining.
5. not affected by the government.
REAL MONEY
1. not digital (cartal)
2. real
3. as a medium of buying and selling
4. as a banking or payment tool
5. issued by a government agency of a country
so a very striking contrast between BITCOIN and REAL MONEY.
Welcome to Bitcoin and to the Forum!
The questions you're asking are great ones. However, they're also questions that you can find answers to REALLY easily on this forum or Google. I'd encourage you to do some reading here and then come up with some more specific questions.
I can help get you started with some simple answers.
Why would I invest in bitcoin? All sorts of reasons ranging from pure curiosity to love of new technology to investment diversification. Bitcoin is used as currency to buy things and as a store of value, i.e., a place to house your savings with hopes of value appreciation or hedging against the depreciation of stocks or savings held in fiat currency. One example often used is that of Cyprus. Are you familiar with the country of Cyprus and it's severe monetary crisis from a few years back? It was so bad that the Cyprus government controlled how much money their citizens could take out of their banks. Think about that. That government telling you that you can't access your very own money! How scary is that? Bitcoin offers an alternative. No government (currently) can seize control of your bitcoin, this represents safety and security.
What's the difference between bitcoin and dollars? Bitcoin isn't regulated by any government. It isn't created "out of thin air" as fiat currency is. There will only ever be a finite amount of bitcoin, which controls it's value. Once all bitcoin is mined there will be 21 million in existence, that's it. No one can ever create more (as is done every year with fiat currency). When fiat currency is created by central banks they reduce the value of the existing currency in the market, which results in inflation of prices. This is why the price of every day things (that haven't changed in 50 years, like groceries or utilities) have gone up in price over time. There's a lot of other differences, but it's better for you to read up on them.
Why would I gamble with bitcoin? I don't, but if you want to you can gamble for significantly smaller portions of money (like cents as opposed to dollars or tens of dollars). And you can do it from the convenience of your computer.
Here are a few links for you to explore:
Feel free to respond with other questions. I think you'll get better response if you educate yourself a bit first and then come back with more specific questions.
Have you bought any bitcoin yet? Do you have a wallet yet? (If you don't, PM me and I'll set you up and give you some bitcoin)
Good luck to you!
The questions you're asking are great ones. However, they're also questions that you can find answers to REALLY easily on this forum or Google. I'd encourage you to do some reading here and then come up with some more specific questions.
I can help get you started with some simple answers.
Why would I invest in bitcoin? All sorts of reasons ranging from pure curiosity to love of new technology to investment diversification. Bitcoin is used as currency to buy things and as a store of value, i.e., a place to house your savings with hopes of value appreciation or hedging against the depreciation of stocks or savings held in fiat currency. One example often used is that of Cyprus. Are you familiar with the country of Cyprus and it's severe monetary crisis from a few years back? It was so bad that the Cyprus government controlled how much money their citizens could take out of their banks. Think about that. That government telling you that you can't access your very own money! How scary is that? Bitcoin offers an alternative. No government (currently) can seize control of your bitcoin, this represents safety and security.
What's the difference between bitcoin and dollars? Bitcoin isn't regulated by any government. It isn't created "out of thin air" as fiat currency is. There will only ever be a finite amount of bitcoin, which controls it's value. Once all bitcoin is mined there will be 21 million in existence, that's it. No one can ever create more (as is done every year with fiat currency). When fiat currency is created by central banks they reduce the value of the existing currency in the market, which results in inflation of prices. This is why the price of every day things (that haven't changed in 50 years, like groceries or utilities) have gone up in price over time. There's a lot of other differences, but it's better for you to read up on them.
Why would I gamble with bitcoin? I don't, but if you want to you can gamble for significantly smaller portions of money (like cents as opposed to dollars or tens of dollars). And you can do it from the convenience of your computer.
Here are a few links for you to explore:
- New To Bitcoin Thread: https://bitcointalksearch.org/topic/new-to-bitcoin-start-here-7269
- Why use Bitcoin? From Coindesk.com: http://www.coindesk.com/information/why-use-bitcoin/
Feel free to respond with other questions. I think you'll get better response if you educate yourself a bit first and then come back with more specific questions.
Have you bought any bitcoin yet? Do you have a wallet yet? (If you don't, PM me and I'll set you up and give you some bitcoin)
Good luck to you!
Thank you for the post mate. It is really informative, and it has so many useful information that even to seasoned ones, it can still be useful. To simplify, I think the main difference of money and cryptocurrencies, or Bitcoin to be specific, is its backing. Money is usually backed by the government through their reserves. That is why the inflation in terms of money is always controlled because there are so many factors that could help it keep its value. While cryptocurrency is a new technology that is not sustained by reserves, but is support through blockchain technology. It is an e-currency that can stand on its own. That is why the value may be volatile and may come up or down at any time and point because it doesn't have the traditional support from a government. On the other hand, like any currency it can be used in the same way, but it could be more closely compared to a wire transaction that your traditional hand to hand exchange of money.
The most fundamental difference between bitcoin and real money is its form. real money, while bitcoin has an invisible digital system. but both have in common both used as currency.
The difference from money and bitcoin is just simple.Money or paper money is tangible or physically seen.And bitcoin is a digital currency that can be access by the help of technology.The only thing is it can be used for transactions and payments.
in my opinion both are currency. Bitcoin is the digital currency and other local currency that we can buy. Because bitcoin is the digital currency, we can only buy goods online. We can go around and do more things online.
Value of Bitcoin is volitle real money is stable
Bitcoin is cryptocurrency. Real money os in physical format.
Bitcoin is cryptocurrency. Real money os in physical format.
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?
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 quite obvious, I mean with real money there are certain limitations, still that doesn't take away the usefulness that it has to us people. But, bitcoin can also do what money can. The only problem is not all establishments accept it yet. That's why it becomes a limitation for bitcoin.
The difference is simple, the fiat money is the money that we encountered everyday in our life; fiat money is tangible while digital money or the cryptocurrencies are the currencies that are intagible. We can only access digital money by having internet and gadgets.
It depends on what is considered by majority Money.
Money becomes a way of payment having some value if at least 2 persons agreed on its value. Money on your bank account exists simply in a form of 1 and 0s but somehow regulated. Bitcoin and other coins exist in a form of 1s and 0s but unregulated but with a huge value now. The more people believe in it the more value they posess
Money becomes a way of payment having some value if at least 2 persons agreed on its value. Money on your bank account exists simply in a form of 1 and 0s but somehow regulated. Bitcoin and other coins exist in a form of 1s and 0s but unregulated but with a huge value now. The more people believe in it the more value they posess
For my own opinion about the difference between bitcoin and real money, for me bitcoin have the big advantage, for example 1btc is equals to 400k php! Thats the big difference between bitcoin and real money. Bitcoin have a big value than real money. Nowadays Bitcoin is more useful. And just a few coming years the price of bitcoin will increase and the real money will get abandon.
For now, the best option for you will be to read on the forum information for beginners. There is very qualitatively described what bitcoin is, and what's the difference with dollars. But I want to say that bitcoin is a valuable asset and not a currency. Therefore, for the most part, it is used for trading on the stock exchange. And this is sometimes very profitable, as the price of a day changes very rapidly
There are differences between bitcoin and real money.Bitcoin can grow your real money if you invest it, and bitcoin is safer than banks. The advantage of real money is you can use it anywhere to buy things.
Yes, that's a very reasonable explanation, and I think the cash is better than bitcoin because it's available everywhere.
Bitcoin is a virtual currency. It doesn’t exist in the kind of physical form that the currency & coin we’re used to exist in. It doesn’t even exist in a form as physical as Monopoly money.
Money is anything of value that serves as a (1) generally accepted medium of financial exchange, legal tender for repayment of debt, standard of value, unit of accounting measure, and means to save or store purchasing power.
Money is anything of value that serves as a (1) generally accepted medium of financial exchange, legal tender for repayment of debt, standard of value, unit of accounting measure, and means to save or store purchasing power.
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