Electronic Money vs. Physical Money - page 22.

BarbieCasino

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Quote from: rhyoanime on December 05, 2017, 05:06:42 AM

Quote from: Shendy23 on October 21, 2017, 12:06:22 PM

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. Wink

physical money is the fixed currency of a country. while the digital currency is more to the asset of a project so it may not be equated

Electronic money can not only be used as mode of payment or for buying different sort of things but the biggest advantage which you have of keeping crypto currency rather than simple paper money is that it can actually help you in better way in making more money as well. People are taking as mean of investing their money and they are in fact making a huge amount of money in return as well. The usage of paper money is decreasing as the market of crypto currencies in increasing with each passing day.

aeternus

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Quote from: posi on November 24, 2017, 06:37:52 AM

Quote from: wv8huuuger on November 22, 2017, 08:58:41 PM

Quote from: IanRidgwell on November 22, 2017, 07:52:26 PM

Quote from: Jupeter on November 21, 2017, 08:08:44 AM

For now many people will always choose physical money because, this is tangible unlike the electronic money and many people knows that they can use the physical everywhere and physical money is knows by everyone in this world unlike the electronic money, that is not really famous right now.

Now a day’s people doing online jobs we all know that, that’s why here we will give importance to electronic currency over physical currency, but physical currency have its own importance and value. I think there is no difference between them because both are money and useful in their own ways.

Physical money more simple in usage then electronic and it also requires internet to use them, and for simple transactions like buying in a store i would be faster to use physical money for online payments will be better electronic.

Well, electronic money is better than physical money in the term of payment. An example is the Greece government which choose to switch to electronic money in a couple of years. Perhaps, if you're from a class country which internet is number 1 priority you will know what I mean.

I will not use Greece as an example of good economic policies, the Greek government basically defrauded everyone that invested in their bonds by lying to them and by faking the numbers in their books and that led to us to a great economic crisis, many people think that what happened in Greece did not affected anyone else but the Greeks but I know a couple that lost a significant amount of their retirement funds because of the Greek government.

bapetdik

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Quote from: dothebeats on October 21, 2017, 12:32:11 PM

There's a lot of distinct differences that could be drawn between the two.

1. Fiat can be created from thin air; cryptocurrencies has a set amount of coins to be mined/acquired.
2. Inflationary (fiat) vs Deflationary (cryptocurrency)
3. Region-restricted purchases (fiat); shopping with no borders (cryptocurrency)
4. Requires an intermediary to store money (fiat); you're your own bank (crypto)

These are some of the things that differ crypto from fiat. There's a lot more aside from those things but that's just what I thought off the top of my head.

I totally agree with "you are your own bank". Indeed this is the nature of crypto and this is what makes crypto very popular. Not covered by the bank and no interest or taxes.

Kamote_1102

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physical money is tangible. you bring it anywhere. and when you have it, you can buy the things that you need instantly. it can be stored in a bank. you can trade it too. obviously, it is made out of paper and it can be destroyed or lost if you are careless. you can give it to anyone you want directly. electronic Money means it can be wired or transferred electronically. A good example is a bank-to-bank transaction. you can trade it for a real cash too. if you need to send some money to a relative from a distant place, you need to transfer it through a bank or some money remittance center. and instead of bringing cash in your pocket, you can use a credit or a debit card. it is good as cash too.however if the physical money can be destroyed or lost, the Electronic money can be hacked. these are the only difference I know about Physical and Electronic Money

leanhtuan

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Electronic money and convenience are certainly different, even the name of it has shown the difference. With physical money, we use it to buy things in the stores that we like but with virtual currency is not because it is not real money for us to use.
I think virtual currency appears to be a profitable opportunity for investors, I rarely use virtual currency to buy some needed stuffs, I usually use cash to do it.

explosion

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Electronic money are now more a kind of investment, and physical money are more widely used for buying or selling

jiamileshuai

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both of bitcoin (Cryptocurrency) and physical which can be used to buy and as the tool of transaction are totally different. Even though both are as currency, it is not same. Bitcoin is known only by certain people, and there is no tax of doing transaction through bitcoin. However, bitcoin requires internet connection that may limit all people around the world use it. in other hand, visual or paper money doesn't require internet connection.

BitcoinTurk

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Electronic money is best one i think because you can use it very easily and you can't lose your wallet physical. That is biggest probem in physical money. If your wallet stolen or lost you cant reaach your that money (including in wallet) again.

jassanpary

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Quote from: 12tribes on December 06, 2017, 12:33:59 PM

There are pros and cons for both currency types.
Digital money is decentralized but you need the internet to use it
Fiat or physical money does not require the internet but it is centralized and as such domiciled at a place.

Both are money, but the difference is that we could not able to see the electronic money as that of physical money. By means of electronic money faster transactions take place from one place to any other part of the world, that is the advantage of electronic money that is not possible by physical money, no need to go to banks in case of electronic money.

Visbay

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Quote from: Granxis on December 04, 2017, 08:28:42 AM

Quote from: balakang00 on December 04, 2017, 05:02:22 AM

Both electronic and physical money can be hack or stolen. I think the best way is to protect your money either electronic or physical from hackers and thieves. Both can be used in investments and in buying products online.

Yes paper money and electronic money can be stoled. But I never dropped the electronic money from my pocket

no electronic money took up any extra space in my pocket. It is now understood that the traditional money is very annoying to governments. Electronic money will take a very long time to spread to the public.

Both of them are good for earning if you want to use paper money so you can use it for different things such as buying food, clothes etc, and digital currency is also using for same things so in my opinion as everything is going electronic and digital so currencies re also becoming digital and bitcoin is one of the example of it and it’s also very easy to carry bitcoin have also a good quality to earn from it and now it’s available almost everywhere so I will prefer bitcoin instead of cash.

12tribes

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There are pros and cons for both currency types.
Digital money is decentralized but you need the internet to use it
Fiat or physical money does not require the internet but it is centralized and as such domiciled at a place.

Xenoph0bia

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Quote from: Fantastic33 on December 06, 2017, 10:13:06 AM

There are lots of differences between bitcoin and physical money. Bitcoin is more on electronic, virtual currency, not cosidered as real money by banks and do not physically exist. While physical money exist in a form of paper or coins, regulated by the government, and is considered as currency by banks. Also, bitcoin had only one value depending on its movement, while physical money have different value depending on the type of currency.

Both of the money are useful in their respective ways.Though physical money is used by all the people of the world,electronic money is also gaining popularity all over the world.Electronic money is not possible for everyone to use as it requires internet connection which is not possible in every corner of the world.Physical money is possible is to use everywhere and anywhere.All the international transactions are made through physical money only.Physical money is under the control of the central bank and is stable.Electronic money is decentralised and very volatile.

Glorious04

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Both are good. As of now we cannot really set aside paper money. Though bitcoin is very good in some areas, for sure there are also disadvantages like you cannot buy something in a retail store using bitcoin, you cannot pay tip to a waiter using bitcoin for example while paper money do. Paper money do not earn much as bitcoin does, it cost much in sending or transfering it and it is more prone to thieves because you have to contain it in your wallet. Pocket.

Fantastic33

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There are lots of differences between bitcoin and physical money. Bitcoin is more on electronic, virtual currency, not cosidered as real money by banks and do not physically exist. While physical money exist in a form of paper or coins, regulated by the government, and is considered as currency by banks. Also, bitcoin had only one value depending on its movement, while physical money have different value depending on the type of currency.

superjeyy

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To start of, I think both aspects are used for the same purpose which means that they have the same functionality, however I think there are some attributes that they differ greatly. Physical money, or fiat, as you said is physically available and what we recognize as a currency. Everybody has access towards fiat as this is distributed accordingly, however, there are circumstances that we don’t receive the amount we fully deserve due to certain regulations that are observed nationwide. Electronic money on the other hand, is an anonymous currency that can be used for online transactions. Accessibility towards electronic money is dependent on a technological device and internet connection. In electronic money, you have financial freedom as you alone are in control of what you have; this is one of the aspects that makes electronic money more favorable and beneficial compared to fiat.

Amme

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Quote from: Granxis on December 04, 2017, 08:28:42 AM

Quote from: balakang00 on December 04, 2017, 05:02:22 AM

Both electronic and physical money can be hack or stolen. I think the best way is to protect your money either electronic or physical from hackers and thieves. Both can be used in investments and in buying products online.

Yes paper money and electronic money can be stoled. But I never dropped the electronic money from my pocket

no electronic money took up any extra space in my pocket. It is now understood that the traditional money is very annoying to governments. Electronic money will take a very long time to spread to the public.

Both of them are currencies and paper money have has his own advantages and digital currency has his own because when there was no concept of bitcoin or any other crypto so people were using paper money and at that time people were very comfortable with that money but slowly time is change and every ting become digital and bitcoin is one of the example of it so now bitcoin have a lot a lot of qualities and people are enjoin it.

dx_twisted

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Digital currency or electronic money is a type of monetary that is available in an intangible form and free from government regulation. One good example is Bitcoin, which purpose is to be an alternative payment method that oppose the use of credit and debit cards. With Bitcoin, your transactions are anonymous, instantaneous and secure rather using a bank card (credit and debit). Even if it does not compete with Physical money, that exists through physical forms such as bills, coins, checks and bank notes. It poses a threat to physical currency due to its ever growing value and the way things are being technological these days. However, only a small percentage of the world population are aware of this so called electronic money that most of them are hesitant to adapt the existence of a digital economy.

Kevondo

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Quote from: PizzaBTC on December 04, 2017, 03:40:37 AM

Quote from: seasonw on November 22, 2017, 11:08:48 PM

Electronic Money definitely is the future currency, I foresee some countries will start implementing electronic money with base of bitcoin in next 10 years.

Some are even already thinking about creating their own cryptocurrency. Obviously, it is going to be centralized but one thing for sure is that, electronic money will end up being more useful in the long run. However, we cannot still rule out the fact that physical money will still always exist in the long run since not everyone will even be able or have enough infrastructures at their disposal to adopt electronic money.

Creating a new crypto currency will hardly help you in making something as there are already number of coins there in the world of crypto currency and people are putting their trust on them. Electronic money is a new form of currency with having lot more benefits over paper money. You can only use paper money for buying different sort of things or for paying your utility bills. While, electronic money is also a good way of earning more money too.

jovs

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Quote from: Md Saad on October 21, 2017, 12:43:14 PM

There are some differences between Electronic Money and physical Money. at first, I want to say that Electronic Money is totally dependent on the internet connection, on the other hand, Physical Money is not dependent on anything. Secondly, Electronic money is secure than physical money, because Electronic money is fully protected with your password. and Finally, Electronic Money is not available everywhere but physical Money is everywhere available. That's all the major difference between these two form of money.

Electronic money compares to physical money in terms of usage, availability and restrictions varies in many ways but not generally. There are some point that they are somewhat almost the same. Electronic money can be converted to physical money if you want to use it in a way where its restriction takes place. But in usual transactions like paying of bills, some form of purchases and money transfers, they are both usable.

Ellapots1234

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Quote from: YayProto on October 21, 2017, 12:09:53 PM

Better invest in crypto. They at least requires some work. In a case of fiat, they can be drawen easely.

people nowadays prefer physical money because it is still existing. and its the most known money today.
but as electronic money enter in, few people are starting to get interested with it. why? because they dont need to touch money, or hold it but they will just scan something at that easy. people like everything to be easy and less hassle.

Topic: Electronic Money vs. Physical Money - page 22. (Read 9505 times)