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Topic: Electronic Money vs. Physical Money - page 27. (Read 9504 times)

sr. member
Activity: 630
Merit: 253
November 24, 2017, 04:18:39 AM
Electronic money is only use for the online purchases and transaction process. It good opportunity for the improve your self. It will country the all people and get the more future's.. you will save the more time.
physical money is only use for currency. It will deract communication for the purchase.
hero member
Activity: 952
Merit: 503
November 24, 2017, 03:01:55 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

Actually it's totally different, even though its name was Cryptocurrency,we can not compare it to actual money, becuase cryptocurremcy is a degital money, like bitcoin. Bitcoin is all digital but we use our phones everyday and they are very accessible in all parts of the world
There is much difference in the electronic and the physical money. The physical money includes Fiat that could never be used over the line for the sake of transaction and vary from country to country depending upon the national currency .on the other hand electronic money is not bound to one single country, is completely decentralized and has no physical existence.

It is only an easy mode of transacting heavy amounts in international market with low taxes and promising method that offers complete security.

Right. These are two different modes of how we can make purchases and transactions. Electronic money makes things a lot easier and convenient for us while we can't go on a day without physical money in our pockets. They go hand in hand but physical at this point is more impoetant
These different modes of money have just made things easier for people. Many people are very happy after the invention of bitcoin just because in the way they have got full control over their money and freedom too for using it.

I am also not much convenient with paper money too and there are numerous reasons for this. The thing that I hate most is that I need to carry it with me.
sr. member
Activity: 420
Merit: 250
November 23, 2017, 10:47:09 AM
Norma money has existed long time ago when people invented an exchange, instead of relying on the barter system.
When they found out the potential of money, this circulated over the world and has been accepted as payment of goods. The determining factor of the price was the volumes gold reserves per country.

As for electronic money, they exists within the realm of the internet and cannot be accessed without it.  There is downside of it.  Some kind of hacking and scamming : since hackers can easily get your money from the internet. Also, no internet - no digital money. but it is convenient to buy by internet with the help of digital money.
I think each of them add value to each other. We need both
newbie
Activity: 38
Merit: 0
November 23, 2017, 10:40:47 AM
yes, electronic money that I think a digital or virtual money that the way of using it with a medium or tool so that people do not bother to make a transaction, whenever and wherever people with very easily transact with electronic money. while the physical money we have all know that the legal means of payment in this world by way of physical money other words can be said with money. transactions with physical money more reach all people because of what, by way of payment with physical money or money that can be done by anyone
full member
Activity: 504
Merit: 100
November 23, 2017, 10:38:16 AM
Today it is extremely difficult to get cryptocurrency if you do not have as you call it physical money. Mining is expensive, trading needs some initial money also, and investing costs so very much. Suppose crypto must peacefully live together with traditional money.
hero member
Activity: 2520
Merit: 605
November 23, 2017, 09:33:35 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
Electronic money is not famous to most of the people since not all people are exposed to technologies like computers. You can only access those electronic money if you have at least a device and an internet connection. So electronic money, not like physical money, can only be accessed with those people who have enough knowledge to it because sometimes, it can be complicated.
Yes both have merits and demerits the physical shape, common use, old and more trusted are the clear merits of physical money while its demits are the limited boundaries, theft, damage by fire, water etc are also demerits of it while crypto are easy, convenient and fast way of transaction but lack of the physical shape, existence of hackers are the major demerits of digital currencies.
full member
Activity: 378
Merit: 103
November 23, 2017, 01:41:45 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
full member
Activity: 693
Merit: 100
November 23, 2017, 01:08:48 AM
If physical money is unavailable, there could have never been a electronic money. To provide the ease of transaction digital money came into existence. Later the same became more popular and got used all around, but the same never affected the paper money which is used by all levels of people.
Electronics money and physical money have both advantage and disadvantage in the way of how and where it being use. Physical money is the most user friendly, it can be use by all ages or even the uneducated person but in terms of security the physical money is quiet low unlike electronics money that are encrypted with digital key but it cannot be used by all levels in a society and besides it really needs internet connection in every transaction.
member
Activity: 111
Merit: 10
November 22, 2017, 11:50:29 PM
I think the comparing isn't logic. Paper money and digital money have their own missions. Usually paper money is using for your local "needs" or local "purposes", the digital money is using to solve the problems that isn't in your local.
I think there is no problem with this comparison. Both are a medium of exchange, both has advantage and disadvantage. For me cryptocurrency is the best currency for now, no doubt.
hero member
Activity: 714
Merit: 500
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.
sr. member
Activity: 518
Merit: 258
November 22, 2017, 10:23:29 PM
If you want your money to grow and beat inflation, go for "electronic money" (bitcoin, investing in stocks, etc.). But if you want your money to be liquid for your simple everyday expenses (like buying in your local store wherein cash on hand is only accepted as payment), go for physical money.

It really depends on your needs and priorities. But what's important is to have a balance between your physical money and electronic money. As the saying goes, don't put your eggs in one basket.
sr. member
Activity: 1652
Merit: 262
SOL.BIOKRIPT.COM
November 22, 2017, 10:14:34 PM
If physical money is unavailable, there could have never been a electronic money. To provide the ease of transaction digital money came into existence. Later the same became more popular and got used all around, but the same never affected the paper money which is used by all levels of people.
yes, in the end the physical money is the priority. electronic money created because over the times, the more sophisticated technology, until emerging new transactions, namely online transactions. and with electronic money it will be easier for online transactions. but physical money is the most widely used, because I also believe that physical money is most often used by all levels of people for daily transactions.
sr. member
Activity: 1092
Merit: 256
Leading Crypto Sports Betting & Casino Platform
November 22, 2017, 10:05:42 PM
If physical money is unavailable, there could have never been a electronic money. To provide the ease of transaction digital money came into existence. Later the same became more popular and got used all around, but the same never affected the paper money which is used by all levels of people.
newbie
Activity: 52
Merit: 0
November 22, 2017, 09:24:29 PM
I think the comparing isn't logic. Paper money and digital money have their own missions. Usually paper money is using for your local "needs" or local "purposes", the digital money is using to solve the problems that isn't in your local.
newbie
Activity: 98
Merit: 0
November 22, 2017, 09:21:15 PM
You can invest in electronic money for making profit or for using it for major trading operations. However, cash is still necessary for you and it has a number of advantages. So, I think that both types of money are important now because if you use both of them, you will have a lot of different benefits.
member
Activity: 71
Merit: 10
November 22, 2017, 08:58:41 PM
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.
sr. member
Activity: 263
Merit: 250
November 22, 2017, 07:52:26 PM
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.
sr. member
Activity: 371
Merit: 250
November 22, 2017, 07:47:01 PM
Electronic money will be increasingly introduced into our lives. But cash will never disappear.
as cash will be protected by the Government in every State. how may cash will disappear and it will not happen.
it took hundreds of years to change the world currency into one recognized currency.
in time bitcoin will become the world currency, sometime. Roll Eyes
It will take the time for sure but w cannot say that it is not possible because a lot of the people are now believing in the electronics money and they are using the bitcoin now and this is the reason why the demand of the electronics is now higher than the currency because with this all the people are able to pay for all the things even with just a click and they stay at home and they can pay the bills while the bitcoin is increasing now.
Country’s budget can be one of the main reason for the superiority of electronic currency over physical currency. But bitcoins case is totally different because it introduces a decentralized economic system to the world where there will be no more need of physical currency and people will use this electronic currency for any purpose they want. We can hope for the best and beast.
I am agreeing with you that bitcoin is the decentralized and popular currency all over the world and due to the presence of bitcoin there is the need to physical currency decreases because people can use bitcoin ( digital currency ) for many things like shopping and many things.
sr. member
Activity: 1484
Merit: 253
November 22, 2017, 05:06:20 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 Smiley
Electronic money is unstable because of the threat in the digital world like hacking. It is better to invest and save much paper fiat since it has been there for like forever and it is much stable.
Physical money has any issues as well, physical money deteriorates with time, there have been stories of people saving all their money in cash for many years only to discover later the bills have almost disintegrated with time, so like you see there are disadvantages to cash as well.
Well the disadvantages of physical or cash type of money really pushed all developers of electronic money or digital money via internet to have made it through internet transactions. That's true that cash money certainly deteriorates with time, because of its slow transactions. Digital currency right now is really a good diversions of that electronic money to become much more driven through another dimensions of fastest transactions ever; like of real time.
full member
Activity: 125
Merit: 100
November 22, 2017, 04:24:38 PM
If the electronic money gives you more profit and also if it is safe with you and not in some kind of bank i would rather take the electronic money over the physical money.
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