Electronic Money vs. Physical Money - page 34.

EdenHazard

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Quote from: katiecbell on November 06, 2017, 04:12:40 PM

Quote from: Bitcoinjheta on October 30, 2017, 04:13:05 AM

Electronic money and physical money both have importance in their own ways, only that bitcoin as electronic money is not widely used yet. Like physical money bitcoin can also be used to purchase online and pay bills in selected countries. I think there's no need to argue as to which is more important or which to be deminished since both have helped people in their financial needs.

Actually both of them are money and both of them can work but the only difference is that bitcoin is a digital currency and other are paper money and I think bitcoin is better than other currency because its price is high than any other currency and it’s also going to provide and good source of income so I will prefer bitcoin instead of paper money.

people only care about the price recently , it is pretty sad to hear that trends for me personally. i am more to look at how the money making and how the transaction works with bitcoin as an electronic money really different with any other e-money.

with e-money especially bitcoin it decreases the cost of producing paper , much more easier and many more benefit!

oyinkansolaberry

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Money is basically a means of exchange. whether physical or electronic, so long as a group of people, community or government approved it as a legal tender then it becomes valuable and acceptable as a means of exchanging value.

joan26

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Many differences between the electronic/digital money and the physical money.But its the same thing that we use to many things like spendng it buying our everyday necessity or using it for businesses purposes like investing. For me digital money is more convenient to earn nowadays because this is a globally uses by everyone.

StarofBTC

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Quote from: iqlimasyadiqa on November 05, 2017, 06:21:20 AM

Quote from: Honest Tim on November 05, 2017, 06:07:52 AM

Physical money as a real existence as it can be seen, feel naturally, others than electronic money is not physically present, and have no physical existence. Physical money is handy, old and accept by many companies, markets, and authorities while electronic money is not as such accepted.
Uneducated and illiterate people know only physical money and the electronic money is out of there reach, as they depends more on the physical currency fir their day to day activities. Physical money has more acceptance than electronic money. But electronic money can not be steal easily and is more safe and secured than physical money. Banks and other authorities can keep a check on physical money but on electronic it is not easy.

Each type of money has its own advantages. it is currently possible electronic money still can not reach many people because of the limitations of various things. There are still many people in the world today who still think that electronical money is unsafe and also felt not something that can be easily accepted by society. But in reality today Currency digital has started to improve and increasing. I am very optimistic if one day in the future that digital currency can be one of the most attractive financial payment media and has been applied in many financial sectors. It's already starting to look and our current task there continues to support by using it in every financial transaction we do.

I think that the comparison between electronic and physical money is something meaningless indeed. We all know that due to lack of technology and availability of resources in some remote areas of the world even today physical money is the most common method of payment and it is believed much as comparison to the Electronic money.

Moreover even in the developed World some people do not put their trust in the use of digital assets and always prefer physical money because the electronic method is more vulnerable to hacking and it is not the safest option at all.

FoxTheHuman

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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

It really is very different when electronic money is changing its value daily, but the value of physical money always holds a certain value if the change is not significant.

STERLING98333

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Electronic money is totally different from traditional money as most of the people do not know about digital currency or else are banned from using digital currency in their respective country.People still prefer using traditional money to buy their necessities because they really dont know the value of it..

TraderRay

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Some nations are already making way for a cashless society, and they have a pretty good reason for it, too. We've come to a time where the reliance for technology has become a norm.

polymerbatt

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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

There are more people that use physical money than electronic money or online money in third-world country but in big countries like USA, korea and japan, most of them are using electronic money like cards or using their handphone that only scan it. We are actually go to that era when all people using electronic money such cards or any online currency.

n691309

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Quote from: JCO05 on November 05, 2017, 06:57:44 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

Right now, cryptocurrency and other digital currency are not yet recognized and supported by some countries, so obviously, physical or regular currency is more dominant as of this moment. It still appears that regular currencies are more safer since it can be controlled unlike in digital currency that are prone to problems regarding with technical issues.

That’s not truth people are now aware of crypto currency and that’s why bitcoin is going so high and in future this coin will rule the world currency and more if it bitcoin is so impressive nowadays that people demand is so high and that’s the main reason that people are preferring it over cash money because cash money is not profitable like crypto.In coming decade of 2020 btc will be used in place of cash everywhere.

megynacuna

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Quote from: poletando on November 06, 2017, 10:19:52 AM

in physical money you can see the physic you can keep it on box storage or safety box, but it can steal easily, it can broke if you spill by liquid or something. but in crypto it cant broke by wind, water, fire. it can broke if internet down and some hackers attack the server. so what is the best? for me no one is the best, because both of them have the advantage and disadvantage

Exactly, depending onm each situation we will be able to find out what's best for us because they both have pros and cons even though i will favour the digital money over physical ones because it can be used for something extra that physical money can't, thus online purchases.

aeternus

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Quote from: kylekyle2000 on November 01, 2017, 03:03:41 AM

Though electronic money is more convenient as you won't have to bring a lot of cash with you everytime, there are also a lot of risks to its security. Since electronic money is all virtual, there is a possibility of it getting hacked if the person using is not knowledgeable enough on how to secure and manage it.

This is why it is important to dedicate some of our time to find how to defend ourselves from hacks, I’m still surprised people use online wallets in an insecure operative system and then they complain they got hacked, of course they got hacked, if you want to avoid being hacked so easily you need to improve your security.

katiecbell

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Quote from: Bitcoinjheta on October 30, 2017, 04:13:05 AM

Electronic money and physical money both have importance in their own ways, only that bitcoin as electronic money is not widely used yet. Like physical money bitcoin can also be used to purchase online and pay bills in selected countries. I think there's no need to argue as to which is more important or which to be deminished since both have helped people in their financial needs.

Actually both of them are money and both of them can work but the only difference is that bitcoin is a digital currency and other are paper money and I think bitcoin is better than other currency because its price is high than any other currency and it’s also going to provide and good source of income so I will prefer bitcoin instead of paper money.

streetlight

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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

The difference between electronic money and physical money is not much, just how it looks and feels. Physical money you can touch, but it's still acounted for electronically, so FIAT money is still essentially electronic money. However, with BTC it is the world's first decentralized digital currency where no one owns it and no one controls it, plus it has a limited supply like gold.

appleffi

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One of a kind

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

The difference of e-money and physical money is the usage of these medium of exchange. Electronic money such as bitcoin is a handy one and offers mobility but with a catch being connected always in order to use e-money while as for the physical money which we are used to, is not as handy as the e-wallet especially when we talk about ample amount of money.

poletando

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in physical money you can see the physic you can keep it on box storage or safety box, but it can steal easily, it can broke if you spill by liquid or something. but in crypto it cant broke by wind, water, fire. it can broke if internet down and some hackers attack the server. so what is the best? for me no one is the best, because both of them have the advantage and disadvantage

moynul2050

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Quote from: Urbanbypas on November 06, 2017, 08:56:43 AM

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

Wexnident

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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

Both are different currencies. Bitcoin has no physical from unlike regular cash or currency. Bitcoin is not yet even legal to most of the countries unlike regular currency wjich is supported by the governments. Bitcoin still has a much larger market value. So truly they are different from each ither, one represents the pr3sent and one shows what future will look like.

Chanock

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The electronic/digital and physical money have a different uses. Bitcoin and other cryptos' are considered as digital currencies and it have a limited used. The role of this electronic money is for digital and virtual transaction only without internet the use of it is absolutely nothing. Unlike physical or real money, the used of it is not restricted and did not need internet you can use it in many ways even in remote area. But this two staff is both currency with different used and characteristic.

bob123

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In my opinion electronic money does have a lot of advantages compared to physical money. Some would be:
1) Electronic money can be sent around the world within seconds (even tho confirmation takes ~10 minutes, money can travel extremely fast this way)
2) Cash can be tampered. This is not possible with Crypto currencies as long any hashing algorithms used are 'safe to use'.
3) Cash can be destroyed and therefore can be "taken out" of the market. I know.. btc's can be sent to an address, owned by noone, to "destroy" conis.. but this still doesn't destroy them really.
4) If secured right, electronic money can not be stolen as easy as cash. Yes, there are a lot of CC frauds.. but this is due to CC's not being safe from frauds/theft.

I think we (people on the world) are going to only electronic money in the future. Cash probably will be extrinct in 10-20 years. I dont think we will be using bitcoin as main currency in the future
but i am sure ther will be regulated crypto currencies offered by governments. Credit cards are just a "step in between" cash and crypto currencies.

Urbanbypas

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Electronic money will be increasingly introduced into our lives. But cash will never disappear.

Topic: Electronic Money vs. Physical Money - page 34. (Read 9504 times)