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Topic: Electronic Money vs. Physical Money - page 23. (Read 9504 times)

hero member
Activity: 1680
Merit: 535
Bitcoin- in bullish time
December 05, 2017, 07:17:50 AM
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 Smiley

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
That is one of the difference of digital money and the physical money because most of the digital money that we know are assets like bitcoin where we can either use them to do some transactions or just put some money into it and make transactions with it. Physical money are still the best for me to do transaction for daily basis and most of the digital money are just for investment.
full member
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https://www.empirehotels.io/
December 05, 2017, 05:06:42 AM
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 Smiley

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
copper member
Activity: 383
Merit: 100
December 05, 2017, 04:48:22 AM
There is a significant difference between banknotes in your bank account and Cryptocurrencies like Bitcoin. One of the biggest differences between the two is the bitcoin deflation attribute supported by 21 million capped currency inventories.many economists believe it is very useful because people know that there is little bitcoin, which causes people to save, and purchasing power usually increases.
hero member
Activity: 2156
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Leading Crypto Sports Betting and Casino Platform
December 05, 2017, 03:21:30 AM
It's just like asking about Bitcoin Vs. Fiat and who would win between the two media of paying goods and services. Of course, they do have their own pros and cons since both of them are two different media. I should give my bet to E-Money but there is this advantage a Physical Money has that bitcoin doesn't have so for me, they're draw. Cheesy

For me this depends on the people who are using bitcoin. Most of the users or investors will be voting more on Bitcoin than fiat since the fiat don't pump that easily even if you hold them for a lot of years, while bitcoin pumps unpredictably and gives profit to them. In terms of security, I will still go with the Electronic money since not all of the people, especially the strangers do not know how much I have unlike fiat where it can be calculated through your bank account and your salary.

Isn't great how the anonymity works with us? No one can know how much we have in our pocket and who owns the most coins. And having a digital money is also great as we can just walk in the street without worrying someone will stole your money and if your phone was stole you can still  recover your coins easily as it have a backup file.
The pros and cons of digital money versus fiat are the hindrances for full adoption of it and it surely take years and many talks to make it happen.
legendary
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December 05, 2017, 01:26:03 AM
Both are good in specific time and location.
full member
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“Blockchain Connection Framework”
December 04, 2017, 09:57:13 AM
Actually it's totally different,
even though its name was Cryptocurrency,we can not compare it to actual money aka Fiat.
if we want it to be considered as a 'real currency' we should have a physical form.
right now the best word to describe it is 'Electronic Payment' not 'Electronic Money'.
'Electronic payment' was a tool for people to help them send their money across the world,
it's just a tool and will never replace the real 'money' itself.


Good point. The two things, although similar in the aspect of being means of payment, it is different as well in may aspects. First off, talking about e-money, many people, especially the younger generations, would prefer that because it's convenient, and it's so easy to do. By just a mere click of a button or tap on your phone, you can make transactions everywhere and anywhere as long as there is internet. On the one had, traditional money is more of a reliable thing to use, you should note that not all countries are that open with using cards or e-currencies in transactions, and that's why money is still indispensable.
newbie
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December 04, 2017, 09:48:57 AM
crypto can be made physical and there are ways to avoid permanent loss when physical is lost.
full member
Activity: 162
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December 04, 2017, 09:31:54 AM
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 Smiley

They both have different characteristics of becoming important. Electronic money/virtual currencies are most convenient to use when it comes on technology and it makes saving more lightweight through card, online wallet etc. While paper money gives inconvenience when it comes on savings. Paper money is acceptable everywhere as a form of payment while bitcoin is not since it is not well-known, or people are afraid because of it's so much volatility which is the opposite of physical money's characteristics. And we all knew they both have risk, that still depends on the users (us), but I think electronic money, bitcoin, or any crpytos, is more convenient to use in the future.
legendary
Activity: 2366
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December 04, 2017, 09:18:40 AM
Digital currency will never replace money. It may come close at some point in the future, but the paper money currency we use is still very effective and a reliable method to keep track of money. The digital age may seem to make it easier to use credit cards, but in the end they still fail us. The paper currency will never make mistakes that credit card companies make today with loss of information at the hands of hackers and government officials.
You have a point there, it will never happen that the paper money replaced with digital money. Paper money is an old currency mostly used by now people especially for those people live in urban area it means no internet connections its impossible to replace our real money to digital money.
But IF it is happen it takes more time to adopt people digital money i think some country 30% people who was not involved internet connection. Its too early now to say that paper money replaced digital money.
sr. member
Activity: 546
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December 04, 2017, 09:12:17 AM
It's just like asking about Bitcoin Vs. Fiat and who would win between the two media of paying goods and services. Of course, they do have their own pros and cons since both of them are two different media. I should give my bet to E-Money but there is this advantage a Physical Money has that bitcoin doesn't have so for me, they're draw. Cheesy

For me this depends on the people who are using bitcoin. Most of the users or investors will be voting more on Bitcoin than fiat since the fiat don't pump that easily even if you hold them for a lot of years, while bitcoin pumps unpredictably and gives profit to them. In terms of security, I will still go with the Electronic money since not all of the people, especially the strangers do not know how much I have unlike fiat where it can be calculated through your bank account and your salary.
full member
Activity: 392
Merit: 100
December 04, 2017, 09:06:06 AM
It's just like asking about Bitcoin Vs. Fiat and who would win between the two media of paying goods and services. Of course, they do have their own pros and cons since both of them are two different media. I should give my bet to E-Money but there is this advantage a Physical Money has that bitcoin doesn't have so for me, they're draw. Cheesy
newbie
Activity: 24
Merit: 0
December 04, 2017, 08:54:51 AM
Digital currency will never replace money. It may come close at some point in the future, but the paper money currency we use is still very effective and a reliable method to keep track of money. The digital age may seem to make it easier to use credit cards, but in the end they still fail us. The paper currency will never make mistakes that credit card companies make today with loss of information at the hands of hackers and government officials.
legendary
Activity: 2674
Merit: 1048
December 04, 2017, 08:48:54 AM
For me, i choose electronic money, because it has more advantages and more convenient. Electronic money is much more convenient. I will give some examples for some advantages of electronic money. First,  it doesn't need coins, we all know coins are hassle because it's so heavy to bring in the pocket. Another is you can buy instantly anywhere you are. Also, you can easily pay your bills instantly, no need for going to the store to pay your bills. These are just some advantages that i think.
easier to use especially when it has integrated with some online store . you don't need to really worry about someone around you to steal the money as you did not hold it physically. but of course all of them comes with the risk , then learn about it.

at least to minimalize things that actually considered as an advantage could strike back to you as disadvantage.
newbie
Activity: 5
Merit: 0
December 04, 2017, 08:46:57 AM
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 Smiley

Both have good part and bad one

Bitcoin and others : your money will multiply many times fast in future.

Physical Money : you can pay for bills and any other things and better for now


sr. member
Activity: 560
Merit: 250
December 04, 2017, 08:44:40 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.

Everyone has a variety of ways to get what people have if they have evil intentions. Smiley
newbie
Activity: 61
Merit: 0
December 04, 2017, 08:37:17 AM
The basic difference between electronic and physical Money is perhaps its convenience. In the era of technology, we should choose a form of paying which is the fastest and the most convenient. I believe that existence of some kinds of electronic money like bitcoin meets this requirement. Although electronic money is not officially accepted as currency units  in some of countries in the world, i always hope bright future of bitcoin someday.
hero member
Activity: 1400
Merit: 536
December 04, 2017, 08:28:42 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 Smiley 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.
copper member
Activity: 658
Merit: 284
December 04, 2017, 08:09:14 AM
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 Smiley
Well, the difference between digital currency and physical (fiat) currency is simple, it is up to you decide which one is best for you. Digital currency such as bitcoin is fast, secure, decentralized, and acceptable worldwide. in fact, no one issues or controls digital currency, it is owned and controlled by the masses globally. Digital currency has cheaper transaction fee when comes to transferring money internationally and the transaction is instant. While physical money is issued and controlled by the government and banks, it has no privacy. Banks control the currency, and it opens 5-9, 5 days a week. Physical currency is acceptable only within your country or even your locality, and when it comes to international transfer the transaction fee is high and it will take anywhere between 3-5 days for the owner to receive the payment.        
full member
Activity: 232
Merit: 113
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December 04, 2017, 07:10:32 AM
For me, i choose electronic money, because it has more advantages and more convenient. Electronic money is much more convenient. I will give some examples for some advantages of electronic money. First,  it doesn't need coins, we all know coins are hassle because it's so heavy to bring in the pocket. Another is you can buy instantly anywhere you are. Also, you can easily pay your bills instantly, no need for going to the store to pay your bills. These are just some advantages that i think.
full member
Activity: 177
Merit: 100
December 04, 2017, 05:39:46 AM
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 Smiley
I think in terms of usability is not much different. ie as a medium of exchange. It's just that electronic money is always changing its value and very easy to use in transacting online. But for daily transactions I prefer to use physical money. The price of physical money is more stable
Of course, it is a medium of exchange and as long as both are being used by different set of people, they will still be serving the same purpose and will both be in use. The thing is, electronic money sounds more like an easy to use form of money for those in the tech savvy or close to tech savvy set of people.

While we have some group who do not even have the strength of adapting to technology, it would be hard to just drop physical money as a form of exchange. The only difference here is one can easily be used across borders and also serve as an asset that is not being controlled while the other is not.

I agree they're still both in use even it is different mode of money because money is the main reason why we are working and seeking for a extra income, so that we can survive to live in our world. And about electronic money or digital money is definitely easily to use for those tech savvy like us. That's why we are here because we know how to earn and handle about digital money.
both are being used as of now, and i don't think total elimination to either one of them would be that easy. basically there is no comparison between those two, they had different features which made them special in a unique way, that is also having both can be advantage for you when the time comes. physical money is what we already commonly known and been used since then, digital money are for less hassle transactions, and digital transactions.
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