Difference between Bitcoin and real money? - page 6.

Bosx1ne

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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 big differences between fiat money and digital money. The digital money is the money that are intangible, we can only access the digital money if we have internet and gadgets or computers while fiat money is the money that have physical properties and that it is the money that we encountering everyday.

Glorypaasa

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Quote from: Bitcoinsummoner on September 10, 2016, 02:30:39 PM

There are many differences of bitcoin and real money.. bitcoin you can use it online as alternative real money you can buy anytime there.. in bitcoins you should have too because many other will exchange it fast and instanly in our place.

Yes indeed. In my opinion and addition for all you've just stated is that real money can be used anywhere you buy but Bitcoin there's just selected stores that accept Bitcoin because the value is just so high. If you save money your money will just grow whenever you put something in your savings. In Bitcoin you will have both savings and investment in this case you will have profit in Bitcoin while saving it at the same time.

pleght

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There is a lot of difference between bitcoin and real money.The real paralara states take possession.States do not like bitcoin.Real money is not as influenced by speculation as bitcoin.

congtuan001122asd

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What a dumb question. bitcoin and real money have too much difference. bitcoin is virtual currency, if you want to use bitcoin then there must be internet. Real money is popular, you can use it wherever you want.

TheSmo

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It's like stealing. Always money and any other value were stolen. The more expensive and popular bitcoin, the more people who want to steal it.

emsjvh

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Quote from: shadowduck on March 09, 2018, 10:46:13 AM

Quote from: lotfipro on March 09, 2018, 10:45:22 AM

Quote from: TheSmo on March 09, 2018, 10:44:38 AM

Quote from: emsjvh on March 09, 2018, 10:27:43 AM

Quote from: shadowduck on March 09, 2018, 10:25:41 AM

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

Yes, this is due to some characteristics. Namely:
1) The number of bitcoins is limited
2) Bitcoin is not printed, but is mined
3) The right to extract (issue) new virtual coins is available to any user of the network
4) Bitcoin can not be faked.

The fourth point is very important. As I think. A normal dollar is easy to forge. This is a big shortage of fiat money. Not only in the US such a problem

But as far as I know, the ways of issuing new banknotes from different countries change and only get better.

But sooner or later swindlers can forge this bill. It will be enough to get knowledge from those people who print our money.

I think that if any money people can forge sooner or later, then the crypto currency has no chance of not encountering this problem.

shadowduck

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Quote from: lotfipro on March 09, 2018, 10:45:22 AM

Quote from: TheSmo on March 09, 2018, 10:44:38 AM

Quote from: emsjvh on March 09, 2018, 10:27:43 AM

Quote from: shadowduck on March 09, 2018, 10:25:41 AM

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

Yes, this is due to some characteristics. Namely:
1) The number of bitcoins is limited
2) Bitcoin is not printed, but is mined
3) The right to extract (issue) new virtual coins is available to any user of the network
4) Bitcoin can not be faked.

The fourth point is very important. As I think. A normal dollar is easy to forge. This is a big shortage of fiat money. Not only in the US such a problem

But as far as I know, the ways of issuing new banknotes from different countries change and only get better.

But sooner or later swindlers can forge this bill. It will be enough to get knowledge from those people who print our money.

lotfipro

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Activity: 434

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Quote from: TheSmo on March 09, 2018, 10:44:38 AM

Quote from: emsjvh on March 09, 2018, 10:27:43 AM

Quote from: shadowduck on March 09, 2018, 10:25:41 AM

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

Yes, this is due to some characteristics. Namely:
1) The number of bitcoins is limited
2) Bitcoin is not printed, but is mined
3) The right to extract (issue) new virtual coins is available to any user of the network
4) Bitcoin can not be faked.

The fourth point is very important. As I think. A normal dollar is easy to forge. This is a big shortage of fiat money. Not only in the US such a problem

But as far as I know, the ways of issuing new banknotes from different countries change and only get better.

TheSmo

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Activity: 280

Merit: 100

Quote from: emsjvh on March 09, 2018, 10:27:43 AM

Quote from: shadowduck on March 09, 2018, 10:25:41 AM

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

Yes, this is due to some characteristics. Namely:
1) The number of bitcoins is limited
2) Bitcoin is not printed, but is mined
3) The right to extract (issue) new virtual coins is available to any user of the network
4) Bitcoin can not be faked.

The fourth point is very important. As I think. A normal dollar is easy to forge. This is a big shortage of fiat money. Not only in the US such a problem

rxtwo

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Bitcoin is a digital currency. It can be used only online for purchase or for any other purpose. But other real money (This must mean to the local currency government has approved) is in digital format as well in normal format to be used handy. This can be used to take with us anywhere and do all purchase and other stuffs. Of course this currency can be used to buy anything online as well.

Adeyemi

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Real money is controlled by the government. Bitcoin is controlled by the people. Real money is prone to embezzlement but Bitcoin is not because it's built on the blockchain which is a ledger of public transactions accessible by anyone.

Bitcoin can function as both a digital asset and a currency. Real money can only function as a currency.

The technology that supports Bitcoin is open source i.e. anyone can learn it and improve on it. The technology that supports real money is hidden but revealed to only a certain set of people who control it.

I hope this answers your question.

emsjvh

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Quote from: shadowduck on March 09, 2018, 10:25:41 AM

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

Yes, this is due to some characteristics. Namely:
1) The number of bitcoins is limited
2) Bitcoin is not printed, but is mined
3) The right to extract (issue) new virtual coins is available to any user of the network
4) Bitcoin can not be faked.

Antivoid

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the total amount of real money will be more and more which means its value decrease every year, but the amount of btc is solid, this is a main differnce, and i think there is also another difference that the btc rely on the internet which means we cant use btc if we are in some place without internet

shadowduck

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Oikos.cash | Decentralized Finance on Tron

When creating a cyber currency anonymous, calling himself Satoshi Nakamoto, took for example not existing financial systems, but the process of mining and turnover of valuable metals. Therefore, Bitcoin can be called virtual gold rather than electronic money, since it has much in common with precious metal.

lotfipro

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Bitcoin was designed to solve the problem of lack of trust between the unfamiliar seller and the buyer. This is a very cool approach I believe.

TheSmo

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All operations in this system had to be instant, irrevocable and absolutely transparent, so that all users could easily track any transaction.

emsjvh

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The Bitcoin system was developed by an anonymous programmer or a group of people who set themselves the goal of creating a fundamentally new system of financial settlements that would not depend on either a single bank or a single state.

voom360

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The dollar value also change, according to you 1$ counting as 1$ I agree, then what about 1 BTC will you count 1BTC is equal to a number of BTC or 1BTC. If you call 1$ is counting as 1$, then 1BTC also counting as 1BTC only.

gabbiee

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Quote from: Sponsoredby15 on March 09, 2018, 07:22:14 AM

Real money value can steady as they want while bitcoin value can go up whenever it wanted and specially bitcoin is portable because its wallet can be access anywhere we can and also secured while real money can get lost or stole if your not secured enough

Yes that is one of the advantages of bitcoin, its price is volatile unlike with real money its value is somehow steady when you exchange it to other currency. There is a huge difference from both of it. In real money you won't be able to invest in it because as you said the value is almost steady while in bitcoin the price keeps on changing which is very profitable in the long run.

parendshorst

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It's you can stay at home and make the transfer to another man who live away from you thousands of miles with only a click without any formality.

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