Electronic Money vs. Physical Money - page 37.

marcbitcoins

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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

For me electronic or digital currencies are mostly to be use for investments in which electricity,internet and digital devices are must needed so that electronic money will work, lacking one of these will make your transaction will fail unlike fiat or paper money which is a phiysical money can be easily and most conveniently to use that even children and elderly can use fiat instantly.

NelfiNovita

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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 physical money and electronic money (bitcoin) is that if the physical money we can feel the shape and have a low value, while the electronic money (bitcoin) we can not feel and have a high value. but now people are still using physical money more than electronic money.

overstock

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Bitcoin is not like physical money, which will cause inflation. But it will cause serious deflation.

shield132

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Why to versus them? Use one in virtual world and second one in real world. Still can't underdtand why these people look bitcoin like currency from another world. I still prefer using visa/master cards or physical money. Why to use bitcoin which is very unstable? Everyone says lets hold bitcoin and get profit. If everyone will hold, how will it riee? What makes it to rise? It's not automatic mechanism and we make it's price so holding of bitcoin means death of this coin for me, if we want alive one, we have to use it more widely. Can't logically see any versus here.

corybrackett

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Quote from: Cherylstar86 on November 01, 2017, 07:15:19 PM

Quote from: Tyrantt on November 01, 2017, 04:45:30 AM

Quote from: ask on November 01, 2017, 04:07:40 AM

We all start to use digital money starting from debit-credit cards. This was the game changer in economics.
Peole love to use debit-credit cards. When POS system distrubuted for bitcoin and altcoins then we will see that bitcoin will defeat other digital money systems.

Yes and how long will that take? That would take for another 20+ years to take place. People who are used to standard money will surely speak against it, from their point of view "why fix something that isn't broken" so there would surely be a backlash if they go all out. The replacement is sure tho the implementation is the problem.

I'd rather choose both because they are all important for me. If I don't bring any physical money I can use my wallet via electronic and cost me less than a time of getting my cash back home. The advantage of having physical money is you can easily buy what you see in a particular place rather than in electronic money which you have to find a place where internet connection is needed. All in all,both are important,useful and very handy in terms of weight and profit.

Yeah i agree , the physical money is using to pay for our needs daily and the electronic money is for investing and earning profit from projects.

Cherylstar86

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Quote from: Tyrantt on November 01, 2017, 04:45:30 AM

Quote from: ask on November 01, 2017, 04:07:40 AM

We all start to use digital money starting from debit-credit cards. This was the game changer in economics.
Peole love to use debit-credit cards. When POS system distrubuted for bitcoin and altcoins then we will see that bitcoin will defeat other digital money systems.

Yes and how long will that take? That would take for another 20+ years to take place. People who are used to standard money will surely speak against it, from their point of view "why fix something that isn't broken" so there would surely be a backlash if they go all out. The replacement is sure tho the implementation is the problem.

I'd rather choose both because they are all important for me. If I don't bring any physical money I can use my wallet via electronic and cost me less than a time of getting my cash back home. The advantage of having physical money is you can easily buy what you see in a particular place rather than in electronic money which you have to find a place where internet connection is needed. All in all,both are important,useful and very handy in terms of weight and profit.

Naughty Princess

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Quote from: aldrian09 on November 01, 2017, 10:46:16 AM

Electronic money is convenient to use because its hassle free while physical money is very limited for the reason that you cannot bring as big amount of money as you could because in some countries authorities will start asking you questions about the money you are bringing.

Right. Electronic money can carry anywhere without suspecting that you have that amount on your hand. It is accessible and can get anytime you want but needed to convert it unless the store where you have to by services or goods accept the electronic money. Fiat is always needed because not all enterprises recognize it. And it will be also hassle to change it into fiat when you really need it because there is a chance that the exchange rate is low.

aeternus

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Quote from: julzcoinbit on October 26, 2017, 07:12:17 AM

Quote from: Faxmate on October 26, 2017, 06:58:17 AM

Quote from: the rise on October 24, 2017, 01:47:19 AM

Physical money will spend a lot of budget for its creation, eventually the world government will forget this and start switching to the e-money system, they will allocate the budget to the source of the currency-forming nature for other businesses. What the world needs now is efficiency so everyone will switch to consolidating e-fiat with cryptocurrency.

I think both of them are same because both of them are money but bitcoin is a digital currency and other currencies are paper currency and I must say bitcoin is little better than paper money because bitcoin price is high than any other currency and it’s also easy to carry with yourself bitcoin in now available almost everywhere and the users are going to support bitcoin.

In that point ,bitcoin is really better than fiat currency. With bitcoin, people can move their wealth in a permissionless way using their individual sovereignty. Bitcoin users can utilize the decentralized currency for operations that are typically frowned upon by third party forces. This includes online storefronts selling pornography, illicit drugs, and other black market activities. Cryptocurrencies can also be used to avoid taxation as it leaves the decision of reporting to tax officials up to the user.

Most of the uses you state for bitcoin are not really recommended, after all most of them are illegal all over the world, but with bitcoin we can do all the regular things we can do with fiat with the advantage that no one in the world will be able to take our coins away from us.

aldrian09

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Electronic money is convenient to use because its hassle free while physical money is very limited for the reason that you cannot bring as big amount of money as you could because in some countries authorities will start asking you questions about the money you are bringing.

isaac_clarke22

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It has its own pros and cons. The thing is in Electronic money, you don't need to go outside to use it unless you make a withdrawal or conversion into actual money. There is a catch though, there is a possibility that it will prone to hack.
In Physical Money is that you have a secured liquid asset right in your wallet that you can really use anywhere you go. Common stores/shops ,based on my experience, don't accept Bitcoin payments at all therefore cash or even credit cards are the only acceptable method of payment.

thet

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elysian.finance

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, from the word physical, you can see, hold it physically, it is being used all over the world unlike with electronic money or digital it can be view, see but cannot hold it physically. We can used it with the use of internet or technology and can used it in a very limited matters.

Siopao

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Bitcoin and fiat are different from each other but somehow are connected. Fiat is the conventional/physical money that we are used to. Very convenient to use because it is used in all places to buy things and services while bitcoin is a virtual.money, it is stored electronically, very limited stores and services are accepting it. It has a big difference also in value, fiat is stable while bitcoin is changing from time to time. I said this two are connected because here in our country bitcoin is not yet accepted anywhere else so in order to get full use of it, you have to convert it to fiat or maybe just invest it.

Tyrantt

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Need some spare btc for a new PC

Quote from: ask on November 01, 2017, 04:07:40 AM

We all start to use digital money starting from debit-credit cards. This was the game changer in economics.
Peole love to use debit-credit cards. When POS system distrubuted for bitcoin and altcoins then we will see that bitcoin will defeat other digital money systems.

Yes and how long will that take? That would take for another 20+ years to take place. People who are used to standard money will surely speak against it, from their point of view "why fix something that isn't broken" so there would surely be a backlash if they go all out. The replacement is sure tho the implementation is the problem.

ask

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We all start to use digital money starting from debit-credit cards. This was the game changer in economics.
Peole love to use debit-credit cards. When POS system distrubuted for bitcoin and altcoins then we will see that bitcoin will defeat other digital money systems.

kylekyle2000

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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.

bitcoinisbest

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I would prefer both the type of money considering the physical form existed for centuries in every country and it cannot be replaced completely by cypto currency. Also not all countries do accept cypto currency so physical is compulsory in such situation . Yes a mixture of both is the best way to have it.

lablab03

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Quote from: elliottflz65 on October 21, 2017, 02:41:18 PM

The only downside currently for electronic based currencies is that it requires internet access to transfer the funds.

yes but for me it is the safe stock money instead of physical banks..The advantage for me to choose electrical money is theres a possibility that my money will be double or increase when bitcoin increase. Lol instead og physical money nothings happen.

roll on

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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.

I agree that it is better to invest in crypto currency because of the unbelievable possibilities of growing of your money because I do invest to crypto for the reason that my profit grows higher.My profits grows and when I drawn it out I used to buy things that are only my dreams come true.

UchihaRukawa

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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

Physical money is a bit of a hassle, carrying around big amount of money endangers you as thieves lurks around. On the other hand, cryptocurrency gives you the freedom to roam around even though you're carrying large amount of money, because having your money in your device gives tou the security that no one can easily get your money. Paying and other transactions are way easier aswell, with the use of cryptocurrency.

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Quote from: Lagduf on October 31, 2017, 04:15:29 AM

Quote from: lordquanta on October 30, 2017, 06:08:46 AM

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

Quote from: Rufsilf on October 30, 2017, 03:15:50 AM

Quote from: BTCevo on October 30, 2017, 12:58:44 AM

Quote from: yoseph on October 29, 2017, 10:01:02 AM

Quote from: Wesimon on October 29, 2017, 08:31:21 AM

These are some points that make bitcoin and fiat different:

1. Fiat is non volatile, if you kept it for a long time, the value won't change while bitcoin is changing its price from time to time.

2. If you invest in electronic money or bitcoin especifically there are bigger changes that it will profit and double you investment in a short period ublike fiat.

3. Fiat is very accessible, you can use it anywhere and anytime. There's no need to use internet.

4. Both are important and both are valuable. It's better to have them both. Grin

People are repeatdly saying that the emergence of bitcoin and other cryptocurrency will mark the end of fiat money but in my opinion, these two methods of payment are going to be there concurrently for a very long time because in the end when a person cashes their bitcoin, they will receive cash,

It depends on you whether you want to cash your bitcoin into fiat or stay with bitcoin itself and get your fiat from other places, like from your daily job. But I can say that fiat and electric money can never be seperated from because when bitcoin can't be change to fiat, it will be meaningless to have coin that has no value on it. Mean while when you have fiat and want to start buying coin,it has no value too. So I think to get both money is pretty good right now and most of them make bitcoin as their extra income

In the future, bitcoin may not be converted to fiat anymore because they can use it directly to the stores or any shops to pay the items that they bought or the service that they used. Electronic money and physical money will be merged in the future and that is almost a guaranteed thing that will happen in the future because the technology will make things evolved and more convenient.

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.

Rise and fall is the rule of nature. Two centuries ago gold, silver, copper was being used as currency. These were in trade for thousands of year. They were the standard currency all across globe. However as new paper currency based economics was developed and imposed by ruling nations and banks which supported them, gold, silver currency is out of the system. Now gold and silver is reduced to the mere ornament, industrial use, store of value.
With same law physical money that is paper currency will also see its due course accordingly. The technologies are evolving fast and being spread across the last strata of society. Soon majority of people will be able to get their hands on internet not as entertainment but as necessity. this will happen once cost involving technology will be affordable to them. At that time moving away from the paper currency will be a possibility.

But I think that sometimes paper money is still necessary, in 10 years ahead, I don't even sure that the whole parts of earth will be covered by the internet especially in some small land or just developing countries that rather have poor of technology implementation.
Paper money, even will be rarely used, will be such an important thing if you visit some places that's still underdeveloped.

But with the encouraging amount of growing technologies in the world, it would be a necessity for everybody to make themselves aware of the internet. Everything is becoming fast and handy now because of the internet. Paper money will soon be replaced by the digital money everywhere, countries which are now under developed will have to coupe up with the rest of the world and make themselves aware of the computer and internet.

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