Difference between Bitcoin and real money? - page 25.

fishball

member

Activity: 336

Merit: 10

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 is a virtual cryptocurrency just like other cryptocurrencies. It is being used to pay bitcoiners for their posting which helps promoting certain ads in a campaign. These bitcoins will eventually get converted in a real money. So, i think both of them are good yet bitcoin can change its value...either low or high. At least it is money afterwards.

MoneyMotivatesMe

newbie

Activity: 96

Merit: 0

Real money gets imitated that you can hardly notice, gets passed from person to person and cannot be sanitized, can be burned and torn apart and all of that doesn't happen on bitcoin.

Gintama214

sr. member

Activity: 462

Merit: 250

DONATION SENPAI PLEASE <3 <3

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?

It depends on your preferences but people do convert with bitcoin because they are doing an investment. With the money you are not investing it while it is with your hand, You can't make your $20 into a $100 if you just put it in your pocket and wait but in bitcoin you can put it in your wallet and it can increase its value or decrease base on the market, also you can use it to gamble and buy things like money can do. It is just like playing with your money but also investing at the same time, It has no taxes and fewer transactions fees but as I said totally depends on the person. Wink

acell101

newbie

Activity: 109

Merit: 0

Bitcoin 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. A normal bank will require you to fulfill many pre requisites and paper work before opening even a simple bank account. A business or merchant account for payment is even more of a hassle. With the bitcoin, it takes mere seconds to setup an account, no questions asked and no upfront dues required. In terms of taxes different tax departments deal with bitcoin in different ways. Other countries have varying rules when it comes to bitcoin taxation, companies taxed when selling products and services in exchange for bitcoin as though it was a barter transaction.While money has different kinds of taxes like in the Philippines for example money can be taxed many times like..
Capital Gains Tax
Donor’s Tax
Income Tax
Value Added Tax (VAT)
Expanded Withholding Tax
Withholding Tax on Government Money Payments
Documentary Stamp Tax
Estate Tax
Percentage Tax
Withholding Tax on Compensation
Final Withholding Tax and many more..

Abigale123

newbie

Activity: 56

Merit: 0

If you really say there is any difference, BTC is still the place where there are still restrictions, people's acceptance is also different, but I think the BTC market will be broader in the future

Skyshark

full member

Activity: 505

Merit: 100

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 and fiat are almost the same when it comes to cathegory but when it comes to the quality and their volatility or stability, they have a big differnce. Bitcoin or cryptocurrencies are more volatile, so it could change rate in a matter of seconds, it could increase or decrease at a blink of an eye, that could be a huge problem when it comes to investing, but at the same time, it could be a great advantage to all investors or traders, because as it could go down when it comes to value, it could also go up in a blink of an eye as well.

Raufjoze

jr. member

Activity: 317

Merit: 1

Quote from: outatime1 on September 11, 2016, 04:29:36 PM

Bitcoin was created to be completely independent of governments and banks. It does have some regulation by some governments, so you could say that governments have some influence, but they don't control the amount in circulation or the value in a direct way. It is also a completely electronic form of money.

correct, bitcoin currency is a stand-alone crypto currency whose value or price can not be determined by the command policy in any country, while the real currency value is still governed by their respective state governments, besides bitcoin can be used if you connect the internet, because bitcoin is the virtual or digital currency

Emerge

legendary

Activity: 854

Merit: 1000

The big difference i can say about this is that we know exactly the total amount of bitcoin.

greenbitsgm

full member

Activity: 182

Merit: 100

Bitcoin is a decentralized digital currency and because of its nature no institutions or entities can control or manipulate its existence. It is highly volatile so price value varies from time to time. On the other hand real money is centralized so a financial institution control it and its production is based on the gold reserved of a particular government. It also has a fixed value.Bitcoin is a digital currency which means it has no physical form so can only be used if connected in the internet while real money has physical form.

Figuran-

newbie

Activity: 98

Merit: 0

Bitcoin is an electronic money but real money is the cash on hand. Though bitcoin is also be converted to money in whatever currency that you want or need. Bitcoin and real money are all useful and bitcoin can be converted into real money through banks or in whatever way that you want that are available.

rapwindsoul

newbie

Activity: 322

Merit: 0

The following are some of the major advantages of using Bitcoin versus Fiat money:

No Taxes
This advantage is due to the decentralized characteristics of cryptocurrency. For now, government does not regulate crytocurrencies transactions. Thus, cannot imposed taxes to them.

No Tracking
Comparing to traditional currency systems, where third parties potentially have access to personal financial data, cryptocurrencies offer anonymity.
Unless users publicize their wallet addresses publicly, no one can trace transactions back to them other than the wallet owners. Even if the wallet address was publicized, a new wallet address can be easily generated.

Bitcoins Cannot be Stolen
No one can steal Bitcoins unless they have actual access to a user’s computer, and they send the bitcoins to their account. Unlike conventional currency systems, where only a few authentication details are required to gain access to finances, this system requires actual access, which makes it much harder to steal.

Also it offers Less Transaction Costs and No Risk of “Charge-backs”

pelipurlara

member

Activity: 364

Merit: 10

Quote from: SANALIU on September 11, 2016, 11:13:05 AM

diference bircoin and real money
bitcoin can growth fast to capital money, is real money nee somthyng investment to growth
bitcoin majority only can use transaction in online, real money can get all everything transaction in offline market supermarket and more

that is the fundamental difference between bitcoin and real money, bitcoin can also be an investment for the future, besides the value or bitcoin price can not be influenced by the government, for now bitcoin can only be used or for transactions if you are connected by internet network connection

bncbnc

hero member

Activity: 840

Merit: 500

Quote from: naily on January 31, 2018, 06:57:37 PM

Quote from: septian44 on September 10, 2016, 06:53:25 PM

difference bitcoin has advantages in terms of its value increasingly rising,in contrast to real money drop price bitcoin more desirable because stable prices but bitcoin has a great risk of losing rather than real money dependent people who have a need bitcoin or real money,choose a digital money or real money is the same because all for payment transactions.

the definite difference is that bitcoin is currently a crypto currency or a digital currency that exists only in virtual, whereas real currency is or conventional and real money and you can hold, but both have in common that is as a tool of sale and purchase transactions or investment

Yes that is very simple to say that the main difference between bitcoin and fiat currency is that bitcoin is an online currency and it can only be use if there is availability of internet. Without having the facilities of internet we even cannot think about bitcoin and other crypto currencies, in fact bitcoin and other crypto currencies are virtual currencies and they do not have physical shape or body, while fiat is a physical currency and we can touch and feel it, that is always present in hard form.

naily

member

Activity: 350

Merit: 10

Quote from: septian44 on September 10, 2016, 06:53:25 PM

difference bitcoin has advantages in terms of its value increasingly rising,in contrast to real money drop price bitcoin more desirable because stable prices but bitcoin has a great risk of losing rather than real money dependent people who have a need bitcoin or real money,choose a digital money or real money is the same because all for payment transactions.

the definite difference is that bitcoin is currently a crypto currency or a digital currency that exists only in virtual, whereas real currency is or conventional and real money and you can hold, but both have in common that is as a tool of sale and purchase transactions or investment

Ponzi Shame

full member

Activity: 154

Merit: 102

I think it's obvious, real money is money officially authorized as state payments. the state can perform full control with real money. if bitcoin is cryptocurrency that can be used as an alternative payment but not yet approved by the state. bitcoin is currently very good for long term investment.

thet

full member

Activity: 322

Merit: 110

elysian.finance

Bitcoin is a digital currency that is being used in the internet or online transactions. It can be use as well in trading wherein you can invest and gain some profit. While cash is being used by everyone in the world to buy something but you cannot gain some profit with Cash without doing some investment unlike with btc.

BlackBeauty

member

Activity: 308

Merit: 10

Quote from: Paopao on January 31, 2018, 06:30:22 PM

I think the difference between bitcoin and dollar or real money? Bitcoin can not be used physically in public store outlets, unless the merchant business owner accepts bitcoin as a payment but most of the money is actually used. and decentralized bitcoins because that's why many people love it because there is no bank and the largest government that has no power to control bitcoin unlike real money like USD, EURO and other centralized ones.

Yes bitcoin is use in online working and its payment will give you physical shopping but real money use in every where and they can anything buy from real money but bitcoin works for those who knows about online work that's why bitcoin is change than real money.

Paopao

newbie

Activity: 110

Merit: 0

I think the difference between bitcoin and dollar or real money? Bitcoin can not be used physically in public store outlets, unless the merchant business owner accepts bitcoin as a payment but most of the money is actually used. and decentralized bitcoins because that's why many people love it because there is no bank and the largest government that has no power to control bitcoin unlike real money like USD, EURO and other centralized ones.

Trela

legendary

Activity: 1106

Merit: 1001

The Decentralized TCP/IP Internet Protocol

Quote from: vinz7229 on January 31, 2018, 08:55:02 AM

Quote from: mahibul49 on January 27, 2018, 04:37:22 PM

bitcoin is an asset.so i think you can understand the difference between money and bitcoin.
bitcoin is not control by govt but money can.

Aside from that, Bitcoin is a virtual currency that use to buy different kinds of alt coins to trade in, it doesn't also controlled by the government so you can make lots of transaction from time to time, while real money is type of money that are regulated by the government, it is the usual money that we use in our daily life it has also stable price unlike bitcoin Wink

Actually the value of FIAT is decreasing every year. Every year, the value of food and everything are increase while the value of FIAT still "stable". Do you think it is stable or decrease? I think that because of inflation, the value of FIAT is getting worse.

lfc_san

member

Activity: 132

Merit: 10

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?

For the difference between bitcoin and real money is from its use. Bitcoin can only be used online and get it online only too. And I think one of the reasons why many people want to convert their money to bitcoin is to gamble because the bitcoin price changes are significant and in a short time as well.
So it can give a chance to get a big profit.

Topic: Difference between Bitcoin and real money? - page 25. (Read 114867 times)