Topic: How to deal with the "bitcoin has no physical existence" argument? - page 2. (Read 1496 times)
October 23, 2016, 07:45:46 AM
For me, I dont care if bitcoin has no physical existence as long as it has value and I will consider it as an asset. There are a lot thing that has physical existence but it has no value.
October 23, 2016, 07:02:03 AM
If you talked about Bitcoin with your friends you most likely already listened to this "argument".
It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
if we think about the bitcoin deeply in such a way that how much the bitcoin is exist in the world then we found only limited existence in form of internet data and we feel unsafe .It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
but actually nothing is simple as we think .
it is very safe and easy to make deal without fear .
October 23, 2016, 06:07:42 AM
knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
And may I ask you sir, what is Bitcoin backed by?
In any case, does it really matter that fiat is not backed by anything? What would you like it to be backed by? Gold? And who decides that gold holds any value? Gold or thin air, who cares as long as you can use it to buy anything you want. The whole system is built around fiat, if fiat fails, everything fails so it's in the interest of everyone, people, government banks etc that it doesn't. The very concept of money is based on thin air.
I agree with this. People who are saying that fiat money are backed by something, they just have too much faith in what they are told by the governments. Whether Bitcoin is backed by something valuable and physical from the point of an individual depends a lot on their perception because actually you can buy gold and other precious metals with Bitcoin.
October 23, 2016, 05:42:56 AM
knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
And may I ask you sir, what is Bitcoin backed by?
In any case, does it really matter that fiat is not backed by anything? What would you like it to be backed by? Gold? And who decides that gold holds any value? Gold or thin air, who cares as long as you can use it to buy anything you want. The whole system is built around fiat, if fiat fails, everything fails so it's in the interest of everyone, people, government banks etc that it doesn't. The very concept of money is based on thin air.
October 23, 2016, 05:38:15 AM
I used to show them how bitcoin is superior and more secure than usual electronic payment system we use including internet banking. And after i complete my intro about bitcoin with the word that your balance can be viewed by anybody but nobody can use those bitcoin without your private key and even millions of computer can't calculate those private key out of bitcoin address, which part they like the most.
I don't get on those argument regarding can we touch bitcoin or can i see what is bitcoin etc after i finish telling them how bitcoin works. But if some force and keep arguing with you to show them physical form of bitcoin giving bitcoin paper wallet containing few bitcoin will be enough.
I don't get on those argument regarding can we touch bitcoin or can i see what is bitcoin etc after i finish telling them how bitcoin works. But if some force and keep arguing with you to show them physical form of bitcoin giving bitcoin paper wallet containing few bitcoin will be enough.
October 23, 2016, 05:11:00 AM
I just show them my bitcoin wallet and then asked them to allow me to load their phone so that they will believe. I also showed them every transaction I made. I converted my bitcoin into a fiat currency in their face so that they would believe. But even if they so that bitcoin is real, they still do not indulge themselves because it is complicated.
October 23, 2016, 05:00:56 AM
If you talked about Bitcoin with your friends you most likely already listened to this "argument".
It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
you right , but still we should always gies in the positive thinking about Bitcoin . so we should take care that we are going well not with the fake or false thing. and secondly it can't be printed use but we can accept it through a printed thing because we have fascility of the accepting btc from baracode scan .It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
overall no reason to think about its bad way .
Well not all of the facilities here in our country accepting bitcoin unlike in your place bro that we could say that it has a physical apperance in real life because not all of the country exist that thing!. We could say that the world is in the virtual like all of the people or most of the people like paying via visa credit card or anything else without the appearance of the printed money.
October 23, 2016, 04:58:20 AM
I would answer that question by simply saying that bitcoin does not need any physical existence to be used, even if they does not exist physically like fiat but they can still be used as real money, if they are not accepted somewhere then they can easily get changed to fiat to get used then, and it is actually becoming physically gradually as it is being adopted in physical world now a days.
October 23, 2016, 04:47:10 AM
If you talked about Bitcoin with your friends you most likely already listened to this "argument".
It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
you right , but still we should always gies in the positive thinking about Bitcoin . so we should take care that we are going well not with the fake or false thing. and secondly it can't be printed use but we can accept it through a printed thing because we have fascility of the accepting btc from baracode scan .It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
overall no reason to think about its bad way .
October 23, 2016, 04:44:29 AM
Turns out coins and bills are as virtual as credit cards, they don't worth the value printed on it, they represent such value.
The only "physical money" is gold or silver themselves, but fiat isn't backed by it or anything at all.
The only "physical money" is gold or silver themselves, but fiat isn't backed by it or anything at all.
October 23, 2016, 04:31:00 AM
The irony of people using that argument, is that most of the world is controlled by credit networks that are managed in a virtual environment. Visa and Mastercard, to name a couple, rely on an extensive range of data centers to keep their ledgers accurate. Yes, it's not like physical notes or coins but many people spend a majority of their life using bank cards to pay bills.
October 23, 2016, 04:10:35 AM
I think you can deal the argument with many sentences like "bitcoin has no physical existence because we can use it easily without physical coin, no problem of printed money" and "why isn't there a physical money ? This is technology. This is more worthy than the traditional one." or many others.
Just my opinion. Hope helping.
Just my opinion. Hope helping.
October 23, 2016, 03:43:59 AM
I don't mean scare them with bitcoin, but by knowing what fiat is indeed and knowing that it has no physical existence whatsoever also.
I often stumble on this, at first they don't believe me - even my father was convinced Greek Euros were more worthy because were backed by more gold, as Greece has some good gold reserves -, then they study it over a bit and come scared that our money (no matter the currency) is a scam and the discussion derails to it and to how scared they got by being aware of it.
I often stumble on this, at first they don't believe me - even my father was convinced Greek Euros were more worthy because were backed by more gold, as Greece has some good gold reserves -, then they study it over a bit and come scared that our money (no matter the currency) is a scam and the discussion derails to it and to how scared they got by being aware of it.
October 22, 2016, 11:35:10 PM
one of the problems that i have found to exist when i explain bitcoin to others or see it being explained to others is that telling them too much is sometimes harmful.
some people get scared when you talk about mining, private keys, signing a transaction, making cold storage, paper wallet, and any technical stuff.
that is why to these type of people i try to keep everything simple. bitcoin is money, and use coinbase for wallet then later on explain how everything else works in the next step. and if they ask questions like it is not physical i tell them paypal that you adore doesn't have physical form either.
some people get scared when you talk about mining, private keys, signing a transaction, making cold storage, paper wallet, and any technical stuff.
that is why to these type of people i try to keep everything simple. bitcoin is money, and use coinbase for wallet then later on explain how everything else works in the next step. and if they ask questions like it is not physical i tell them paypal that you adore doesn't have physical form either.
October 22, 2016, 10:33:41 PM
Just as a personal thing, I deal with it by not dealing with it. I'm the type of recluse guy who finds this type of human interaction futile and frustrating, and I have no desire to try to convince someone else to use bitcoin or to explain to anyone bitcoin's advantages.
And even if I were to engage in such a debate, I'm not entirely confident I'd do a good job convincing someone. A lot of the technicalities escape me. I'm not an economist and I'm definitely not a computer geek. Wish I had more of a background in that.
And even if I were to engage in such a debate, I'm not entirely confident I'd do a good job convincing someone. A lot of the technicalities escape me. I'm not an economist and I'm definitely not a computer geek. Wish I had more of a background in that.
October 22, 2016, 09:33:52 PM
If you talked about Bitcoin with your friends you most likely already listened to this "argument".
It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
It's not false, Bitcoin has in fact no physical existence, but nor does the printed money we call fiat.
The question is then on how to deal with this argument, in a short and easily understandable way, without scare them of by knowing the bills on their wallet are no more than regular papers representing x units of the virtual currency y, which is backed by thin air and its supply is limited only by the paper and ink in stock or the printing capacities of the machine that does them?
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