Difference between Bitcoin and real money? - page 97.

Doms

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Quote from: stadus on May 04, 2017, 11:33:18 PM

Quote from: daringdiscovered on May 04, 2017, 10:45:21 PM

Quote from: Duzter on May 04, 2017, 08:45:16 PM

Several users has described the major difference that's the virtual usage. It cannot be used same as our fiat currency. It requires some basic understanding for using it as everything is linked to technology and internet. Real money is simple that even an uneducated man can use without difficulty.

I agree, some people will even say bitcoin is illegal because it comes from the deepweb. But for those people that are technology literate, they will always know bitcoin and how it works. People around me don't know anything at all about bitcoin, they just know i earn online and the money i earn were always sent to my bank account.

This close minded people just loses their chance to make money with bitcoin, they need to read before they judge, true it's use in deep web but big circulation is not happening their, if they will not adopt we do not have problem with it, we should talk to people who are open minded and go with the change.

Digital currency is the future of money and if some people are still skeptical about its advantages, it is their loss and somebody else's gain. The early adopters are lucky enough to benefit from what bitcoin can give them and the ones who will regret not getting onboard are those who think bitcoin is used only for criminal activities and there are and those who believe that some risks involved with holding and owning these types of digital currencies.

LegendOF45

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I think the difference in real money and bitcoin is the ease, security and speed. bitcoin better everything rather than real money so that users of the bitcoin on the rise.

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Quote from: daringdiscovered on May 04, 2017, 10:45:21 PM

Quote from: Duzter on May 04, 2017, 08:45:16 PM

Several users has described the major difference that's the virtual usage. It cannot be used same as our fiat currency. It requires some basic understanding for using it as everything is linked to technology and internet. Real money is simple that even an uneducated man can use without difficulty.

I agree, some people will even say bitcoin is illegal because it comes from the deepweb. But for those people that are technology literate, they will always know bitcoin and how it works. People around me don't know anything at all about bitcoin, they just know i earn online and the money i earn were always sent to my bank account.

This close minded people just loses their chance to make money with bitcoin, they need to read before they judge, true it's use in deep web but big circulation is not happening their, if they will not adopt we do not have problem with it, we should talk to people who are open minded and go with the change.

daringdiscovered

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Quote from: Duzter on May 04, 2017, 08:45:16 PM

Several users has described the major difference that's the virtual usage. It cannot be used same as our fiat currency. It requires some basic understanding for using it as everything is linked to technology and internet. Real money is simple that even an uneducated man can use without difficulty.

I agree, some people will even say bitcoin is illegal because it comes from the deepweb. But for those people that are technology literate, they will always know bitcoin and how it works. People around me don't know anything at all about bitcoin, they just know i earn online and the money i earn were always sent to my bank account.

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Several users has described the major difference that's the virtual usage. It cannot be used same as our fiat currency. It requires some basic understanding for using it as everything is linked to technology and internet. Real money is simple that even an uneducated man can use without difficulty.

Hotel_Prodeo

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I think the difference is very obvious, bitcoin better than real money, in addition to the transaction, with bitcoin can we benefit because prices continue to rise.

th3nolo

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the difference is pretty simple, the people control bitcoin and governments and banks can't do anything to stop it, yeah many regulations can affect it but because is p2p is very hard to control everything.

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In Bitcoin network, people control money.
not the gov, not the corporate, not the rotschild, not the central bank ... only people.

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Hobo66

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Well the difference is bitcoin is an virtual currency or Internet money that is controlled by all the users,
using this virtual money.

SamMurphy

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First of all bitcoin is anonymous and cash not, when you want to cash out your bitcoin you have to pay some fee to do that, that's not happening with real money, and also you can use your bitcoin where you are but you'll have exchange your money with the currency there is where you are.

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Quote from: iqlimasyadiqa on May 04, 2017, 08:41:57 AM

Quote from: aryana42 on May 04, 2017, 08:32:37 AM

Cheaper Transaction Fee. Transactions in do not cost a fortune, can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.

That is the mainstay of . With such a service would be easy to attract a lot of people doing transactions with . Transaction fee was adjusted to the amount of that we send. So when we send a small amount of funds then the fee is also very small.

it really depends upon the amount you are sending or receiving but the main purpose of it which attract a lot of customers is its trading purpose most of the people used it for trading and which is the main difference between it and fait money.

Rufsilf

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I don't think there is a lot of difference between bitcoin and real money because bitcoin is just volatile to its price and the real money is just like stable and have a fixed face value. We don't need to compare them because they are both kind of money.

sikke

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I think thay we might have differences between bitcoin and money, butin my opinion we can call btc as the same thing.
After all, gold may also be called as a money. It was obviously used for that purpose back some time ago, in form of a gold coins, which were valuable and respected everywhere.

The same thing might be about bitcoin, in fact it is a totally digital asset, but still if the population of many different countries will accept BTC as a payment option in most of the stores, it may be called also as a money,at least that is what I think right now.

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Quote from: Natlind on September 10, 2016, 01:53:35 PM

Both are currencies. Bitcoin is a digital currency and other local currencies we are using is normal currency with which we can purchase or do anything we need. As bitcoins is a digital currency, we can only shop or do anything only online. We can shop around and do more things online. But with other local currencies, we can do more / lot where we live.

If we are going to make comparison between bitcoin and real money it is good to start on describing the similarities of one another. You actually right both is a currency which have a specific value. The difference are bitcoin is a crypto-currency which its transaction needs internet to be done. Meaning it is a web base currency that allows transaction with a help of a wallet. Unlike real money or fiat it is tangible where you can hold it and manage it with out using of internet because it is tangible. In the case of value and price, bitcoin is more likely to change its value following the law of price and demand.

Haladay

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The real Money is melting against the inflation, yet bitcoin resists against the inflation and goes up!

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Quote from: Devboy on May 04, 2017, 09:42:04 AM

Quote from: johnwest on May 04, 2017, 09:05:09 AM

Its simple. 1200$ which I have in my bank from 2-3 months is like 1250$ now and 1 BTC which I had in my wallet 2-3 months ago which was 1200$ now it is 1500$, I guess you know where am going with this. BTC is savings, investment as well as money.

I like it. It's now difference with only set physical currency and digital currency rest of both are worth of long term investment. So far both of the benefits of saving thought we had knowledge real money have an exact value while Bitcoin does not maintain the value in the market.

Value's stability and ways of using it maybe, in bitcoin we can do transactions thru our wallets only since it is not known yet by business establishments while real money does provide anything with our hands alone or with banks help etc.

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Quote from: johnwest on May 04, 2017, 09:05:09 AM

Its simple. 1200$ which I have in my bank from 2-3 months is like 1250$ now and 1 BTC which I had in my wallet 2-3 months ago which was 1200$ now it is 1500$, I guess you know where am going with this. BTC is savings, investment as well as money.

I like it. It's now difference with only set physical currency and digital currency rest of both are worth of long term investment. So far both of the benefits of saving thought we had knowledge real money have an exact value while Bitcoin does not maintain the value in the market.

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Quote from: aryana42 on May 04, 2017, 08:32:37 AM

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.

I dont think that bitcoin has a cheaper transaction fee since the miner fee is high and small transactions are no longer fit to be made due to high miner fees. But if you are sending huge amount of bitcoins the miner fee is small compared to that of banks. Bitcoin unlike sending money is more efficient and fast, it is done in simple ways and has no complicated processes to have a successful transaction.

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Quote from: TastyChillySauce00 on May 04, 2017, 07:10:55 AM

Quote from: marketone on May 04, 2017, 12:13:44 AM

Quote from: Hypnosis00 on May 02, 2017, 07:33:13 AM

The only difference that i can see on bitcoin versus the real money is being physical and virtual. Bitcoin is only digital money and the real money is physical which we are currently using right now. Another difference that i can see is in supply where bitcoin has a limited supply while real money has an unlimited.

Exactly, one more factor you missed when it comes to value bitcoin has the highest value when compared with real money. So many people bothering about whether bitcoin will stay for long to make most of it. Real money is being and act like crap many people are creating fake currency and whereas with bitcoin it is not possible.

Some say bitcoin is like gold 2.0, it's a digital currency, but really precious, its value significantly increasing recently and it proves that statement, whereas real money always is made every day and thus make the deflation towards the paper money and bitcoin still stay on its limited amount and will never be changed forever. That makes bitcoin is limited even if it has flexibility which could be torn apart to suit the money but by the time, because of that the price will always increase.

But even though real money is always made every day, their exchange rate will always be the same. Yes unless you want to travel abroad then that's where you know the rise or fall of the currency of your country. While the bitcoin price will always change, I think that's the difference in bitcoin with the real currency or something else and that's too makes me think both are unequal.

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Quote from: iqlimasyadiqa on May 04, 2017, 08:41:57 AM

Quote from: aryana42 on May 04, 2017, 08:32:37 AM

Cheaper Transaction Fee. Transactions in bitcoin do not cost a fortune, bitcoin can be done anywhere with a relatively lower cost and faster. Unlike conventional currency that cost big and longer time.

That is the mainstay of bitcoin. With such a service would be easy to attract a lot of people doing transactions with bitcoin. Transaction fee was adjusted to the amount of bitcoin that we send. So when we send a small amount of funds then the fee is also very small.

Transaction fees are not longer that low.
Compared to other cryptocurrencies standard fee of bitcoin tx is horrendous, for now it is around 50k satoshi which translate to $0.70
Many traditional banks and online payment processors have lower fees already. PayPal has zero fee when you send money to friends and family within same country.
Bitcoin might be better only when you are transferring money abroad/globally and you send thousands/millions of dollar worth BTC.

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