Difference between Bitcoin and real money? - page 89.

aoihs00

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Quote from: Black tea on August 17, 2017, 12:09:27 AM

The most fundamental difference of bitcoin compared to fiat currency is the absence of regulation governing its circulation. So the course of the transaction is peer to peer or purely the responsibility of each holder of that currency. While the fiat currency circulation is always controlled by the government.

Well said about peer to peer transactions. The currency being decentralized has got restrictions that it must processed by users (end users) on their own and there is no governing body. This actually increases a little risk in the transactions but blockchain is so much stable and advance that we dont have to worry about it much. Everything is really very automatic over the blockchain and the process of transaction is hundred percent pure.

Thats the beauty of bitcoin and this is the vital point where it differs from fiat currency.

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Quote from: kpcian on August 17, 2017, 12:48:54 AM

there are some basic differences between real money and Bitcoin. Bitcoin is highly profitable currency rather than any other currency. real money has some specific function such as purchasing good, payment tool, loan function etc. real money also can be used for the purpose of saving and invesment but it doesn't bring profit as much as Bitcoin.so the main difference is the profit maximization

That sounds like an oxymoron to my ear

If you said that Bitcoin was a highly profitable investment, I would readily agree with you. The major problem with Bitcoin is that it is not a currency. As I always say in such cases, money is what money does, so if Bitcoin is not used as money, then it is not money, as simple as it gets. And Bitcoin is used as a vehicle for speculation in the overwhelming majority of cases, not as a means of exchange or payment. In fact, any money which becomes "profitable" eventually ceases to be money (like it happened to gold in the past)

kpcian

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there are some basic differences between real money and Bitcoin. Bitcoin is highly profitable currency rather than any other currency. real money has some specific function such as purchasing good, payment tool, loan function etc. real money also can be used for the purpose of saving and invesment but it doesn't bring profit as much as Bitcoin.so the main difference is the profit maximization.
if you have a lot of money then you can save for the future purpose but it will be less value than today, but if you have some Bitcoin then it will bring almost double or treble profit within a single year. so Bitcoin is the most profitable currency in the world.

Charot12345

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It has a big difference, bitcoin can change its value and it getting higher while real money or the money you have now doesn’t change its value. And also your money doesn’t change its value and not getting higher when you’re not doing anything unlike bitcoin, the value still increase.

Sadlife

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To escape the debt system from banks, the future features of bitcoin is far more greater than fiat currency because unlike fiat money, bitcoin is freedom from insane taxes, government control or centralized banks control. You can send payments faster than paypal without having to pay ridiculous high fees. You dont to give away your personal information unlike other payment processor. So it is fast and secure and unlike fiat currency bitcoin is hackable the blockchain ledger that holds all the transactions cannot be breach unlike banks with there buggy system. The reason why many people invest in bitcoin cause it's a promise that will get rich unlike real money.

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The most fundamental difference of bitcoin compared to fiat currency is the absence of regulation governing its circulation. So the course of the transaction is peer to peer or purely the responsibility of each holder of that currency. While the fiat currency circulation is always controlled by the government.

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Both are money. The big difference is real money is a cash. It's a physical money. You can hold it and put it in your physical wallet. Bitcoin, on the other hand, is a virtual money. You can't hold it but you can feel its various benefits such as quick money transfers. You also put it in a wallet but this is a virtual wallet.

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Quote from: mellorbo on August 16, 2017, 05:19:38 PM

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?

There are so many difference between bitcoin and a real money. Our money is controlled by the government while the bitcoin it is not centralized or not controlled by the government. Bitcoin is controlled by the users and run by them. Bitcoin is a digital money, we use bitcoin wallet as we store to them our bitcoins while money we save it through banks. Bitcoin lessen the fees in the transaction of withdrawal while the money there are many process and the fee is very expensive, sometimes your money will gone if your bank account has 0 value.

i think that the trusted bank especially under controlled direct by government, i means officiall bank by government is safe and you will not lose your money due to they are officially from government.
out of that case, we can keeping bitcoin for long term without cut the monthly administration

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Quote from: evader11 on August 16, 2017, 11:13:17 PM

Real money is only good for buying things and our daily needs such as foods and clothes but it can't use for investment. Bitcoin is good for investments because its price will increase hugely and some country are now using bitcoin for buying things.

Well in reality, bitcoin and fiat are almost the same since they both have value in the market and can be used as a payment into other obligations. The big factor on what separates bitcoin from fiat is the usage and legalization of it per country. Fiat has been in the world ever since time immemorial and it has been categorized as the main medium of exchange. Bitcoin on the other hand is a cryptocurrency, meaning that its nature is on the internet and that maybe its biggest disadvantages which hinders the poor from accessing it.

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Real money is only good for buying things and our daily needs such as foods and clothes but it can't use for investment. Bitcoin is good for investments because its price will increase hugely and some country are now using bitcoin for buying things.

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Quote from: basyang on August 16, 2017, 10:15:11 PM

Quote from: densuj on September 10, 2016, 01:29:51 PM

Different between bitcoin and real money in my opinion is we can know how much bitcoin in the world and there are not people who can make manipulation about it and we don't know how much real money who be printed.

I agree with your opinion, your right it is hard to know how much real money they printed in a year and bitcoin also is hard to predict because every time, every minute and every second bitcoin value changed. In my opinion, The different between real money and bitcoin is bitcoin is a digital currency that can be used to trade online, gamble online and buying online while real money is a physical money that can used for buying things in real world.

I partly agree with you as well. In real world? of course. We are in real world even if we are using bitcoin,still we are on the same planet. As for me the difference between bitcoin and a real money is that the way on how it is use and the transaction method. Unlike real money, we bring it in our bag or inside the wallet from time to time thus,it's typically inconvenient at times because we carry loads of coins every time there are changes from our bills. But in bitcoin since it is a digital currency, we just use our phone and it's hassle free,simple and fast and there are variations when we buy something or we send out money through our phone. So it's amazing and time constraint at the same time.

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Quote from: densuj on September 10, 2016, 01:29:51 PM

Different between bitcoin and real money in my opinion is we can know how much bitcoin in the world and there are not people who can make manipulation about it and we don't know how much real money who be printed.

I agree with your opinion, your right it is hard to know how much real money they printed in a year and bitcoin also is hard to predict because every time, every minute and every second bitcoin value changed. In my opinion, The different between real money and bitcoin is bitcoin is a digital currency that can be used to trade online, gamble online and buying online while real money is a physical money that can used for buying things in real world.

Shamie1002

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Both currency,
Difference are:
Bitcoin- decrntralized, no third parties in transaction ( banks ), digital currency, directly convertible into other currencies, used in trading, accessible and manipulated by owner/users, anonymous, prices inflation and pump.
Real money- banking system in transactions and in converting into other currencies, profitables are predictable, slow transactions, prices are stable.

There are probably more.

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Quote from: Kersh768 on August 16, 2017, 04:44:43 PM

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?

The difference between Bitcoin and fiat is that, Bitcoin is decentralized. It means rhat you can use it without the involvement of third parties such as banks. Actually, it is just an option to invest in Bitcoin and to convert your money into Bitcoin. It is just because of the advantages that Bitcoin has which is less charges and can give you more income because its value increases from time to time unlike fiat or dollars.

Yeah, bitcoin is decentralized. This is one among the reason that makes the bitcoin to be more successful than other investments. Real money always be under the control of the governments. Other than this bitcoin has got only the virtual appearance whereas real money gives a physical value and form.

sumangs

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The two are both currency but they differ in many ways but I only state a few. Bitcoin is decentralized, which means that no one is controlling bitcoin. Bitcoin has anonymous transactions, which means you are anonymous when you send bitcoins around the globe. Bitcoin is safer, since real money could be steal directly on your pocket by a thief or bank accounts by the one who controls your money.

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Quote from: mellorbo on August 16, 2017, 05:19:38 PM

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?

There are so many difference between bitcoin and a real money. Our money is controlled by the government while the bitcoin it is not centralized or not controlled by the government. Bitcoin is controlled by the users and run by them. Bitcoin is a digital money, we use bitcoin wallet as we store to them our bitcoins while money we save it through banks. Bitcoin lessen the fees in the transaction of withdrawal while the money there are many process and the fee is very expensive, sometimes your money will gone if your bank account has 0 value.

thats right, i think the fundamental difference from real money and bitcoin is of its nature, if real money is centralized where everything is controlled by the government, there are rules and restrictions that you must follow in real money, whereas bitcoin can be said more freely than real money, because it has the nature of decentralization and there are no rules and restrictions in it

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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?

There are so many difference between bitcoin and a real money. Our money is controlled by the government while the bitcoin it is not centralized or not controlled by the government. Bitcoin is controlled by the users and run by them. Bitcoin is a digital money, we use bitcoin wallet as we store to them our bitcoins while money we save it through banks. Bitcoin lessen the fees in the transaction of withdrawal while the money there are many process and the fee is very expensive, sometimes your money will gone if your bank account has 0 value.

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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?

The difference between Bitcoin and fiat is that, Bitcoin is decentralized. It means rhat you can use it without the involvement of third parties such as banks. Actually, it is just an option to invest in Bitcoin and to convert your money into Bitcoin. It is just because of the advantages that Bitcoin has which is less charges and can give you more income because its value increases from time to time unlike fiat or dollars.

Cazkys

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You have raised legitimate questions and I may not be able to provide legitimate answers but I’ll try my best. You may already have read the pros and cons of Bitcoin, its history, and some of the stories of people who have used and is using it. It started almost a decade ago but it cannot be denied that it’s still somewhat in its infancy and has issues more complicated than changing diapers. Why would you convert into Bitcoin when governments demands and requires $ as payment? Why would you convert to Bitcoin when most places are still more convenient with cash? I can only answer is because it has potential. It has potential to exist side by side with fiat, equally or more. It has potential to be convenient like the cash we carry in our pockets. No need to convert or invest all your money on Bitcoin but you have to see that Bitcoin has potential to be the Next Big Thing. It has a place in our future and might play a big role in the coming years on how we view and use currency.

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Quote from: BabyBoss on August 15, 2017, 06:42:59 PM

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?

There is a great reason why bitcoin is much better than cash it is because bitcoin will be the next currency in the future. Bitcoin are growing and increasing everyday that bank can't do even they double the interest. Bitcoin has a greater value and it is good for the long-term investment. Money is going to replaced soon.

Don't compare your earning in bank and in bitcoin because bank is not basically gonna give our money a big return because we are
just saving and we are not investing. It can only happen with bitcoin since we can invest on it and we have seen how big the price pump.
This year alone we have great achievements already and even if the price will dump 50% still a good year for all of us.

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