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Topic: Is Bitcoin cash? - page 2. (Read 3581 times)

hero member
Activity: 658
Merit: 500
February 06, 2015, 06:41:21 PM
#39
No citation needed. Cash = totally anonymous. Bitcoin uses a public ledger, the blockchain, Monero doesnt.

Is anonymity required for something to be cash? That's the citation I'm talking about.
legendary
Activity: 1204
Merit: 1028
February 06, 2015, 05:43:40 PM
#38
No citation needed. Cash = totally anonymous. Bitcoin uses a public ledger, the blockchain, Monero doesnt.
hero member
Activity: 658
Merit: 500
February 06, 2015, 05:38:32 PM
#37
hero member
Activity: 770
Merit: 509
February 06, 2015, 05:02:30 PM
#36
No, it doesnt qualify as cash, Monero does tho.
legendary
Activity: 3066
Merit: 1047
Your country may be your worst enemy
February 06, 2015, 02:16:22 PM
#35
No, BTC isn't cash. Read the first line on wikipedia.

Don't just read it, also understand it.
vernacular vs. finance use

I do understand, vernacular English, and that's the language commonly spoken everywhere.
legendary
Activity: 2632
Merit: 1094
February 06, 2015, 12:15:37 PM
#34
Bitcoin is a form of digital currency, created and held electronically.

The above is a definition I got from the internet. Bitcoin is more like virtual cash than real cash but I don't feel confident to hold bitcoins in my account as I feel more secured to hold cash in my bank.
hero member
Activity: 532
Merit: 500
February 06, 2015, 11:43:55 AM
#33
Agree. Actually, Bitcoin is better than traditional paper cash. If you're at work and your paper money is at home, it can't be accessed immediately or near-immediately.

Bitcoins, on the other hand, can be accessed immediately even if you're at the North Pole.

yeah right bitcoin is more simple and very portable Smiley
full member
Activity: 150
Merit: 100
February 06, 2015, 11:12:07 AM
#32
I was wondering that, since a lot of people say, Bitcoin is like cash, so I looked it up on Wikipedia:

"In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts).
https://en.wikipedia.org/wiki/Cash

So, Bitcoin is definitly cash, per defintion.
So, please stop saying "Bitcoin is like cash" Wink

Damn good argument.
newbie
Activity: 14
Merit: 0
February 06, 2015, 09:12:04 AM
#31
But it doesn't need bags to carry.
newbie
Activity: 36
Merit: 0
February 03, 2015, 01:17:43 PM
#30
Bitcoin is definitely not cash!! Your transactions are quiet visible with Bitcoin while I can hand someone cash and no on will ever no about it!
legendary
Activity: 1176
Merit: 1011
February 03, 2015, 01:10:19 PM
#29
The con is that it is very volatile unlike cash, backed by government.
Tell that to the people in Russia or Zimbabwe.

And to lesser extent, the people in Switzerland. Or in Europe as of late, since the EUR/USD rate has plunged quite a bit.

(But sure, I get your point)
donator
Activity: 1218
Merit: 1079
Gerald Davis
February 03, 2015, 12:08:00 PM
#28
"In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts).
https://en.wikipedia.org/wiki/Cash

Well there is the accounting definition and then there is the common usage definition.  Most people saying 'cash' don't mean checking accounts or money market accounts either.  If you go out to lunch and ask your friend if he has enough 'cash' to cover the meal I am pretty sure you don't mean is the balance of his money market accounts greater than the bill presented.  You and he would both assume you are talking about physical slips of paper with dead people on them.
hero member
Activity: 658
Merit: 500
February 03, 2015, 12:06:19 PM
#27
The con is that it is very volatile unlike cash, backed by government.

Are you implying that the reason fiat money is not volatile is because it's backed by a government?
hero member
Activity: 658
Merit: 500
February 03, 2015, 12:05:24 PM
#26
Really? They have internet connections at the North Pole?

With a satellite connection you could.
newbie
Activity: 13
Merit: 0
February 03, 2015, 11:42:30 AM
#25
Bitcoin is much much better than cash, other than it being able to be accessed everywhere, you dont have to exchange it for different currency before travelling from country to country, losing out on exchange rates and time. The con is that it is very volatile unlike cash, backed by government.
agree it will be easy to use it in another world as for payment Cheesy
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
February 03, 2015, 11:41:01 AM
#24
Bitcoin is much much better than cash, other than it being able to be accessed everywhere, you dont have to exchange it for different currency before travelling from country to country, losing out on exchange rates and time. The con is that it is very volatile unlike cash, backed by government.
newbie
Activity: 14
Merit: 0
February 03, 2015, 11:26:06 AM
#23
bitcoin will be more functional this year
and let wait for it Cheesy
newbie
Activity: 13
Merit: 0
February 03, 2015, 11:02:56 AM
#22
i think we can change in real money and make it some profit with it
lets grow Cheesy
legendary
Activity: 1176
Merit: 1011
February 03, 2015, 10:58:17 AM
#21
Yeah, bitcoins require an active internet connection in order to send them whereas cash does not. An important distinction to make.
But an internet connection (even mobile) is such a basic facility nowadays, it's practically everywhere.

And strictly speaking, I could give you a paper wallet, or I sign a transaction offline and give you that on a piece of paper, or send it through SMS, or plenty of other ways.

Besides, most cash registers, also the ones accepting cash, typically require electricity. And whenever there's electricity, in more than 99% of the cases there's also internet.

It's 2015, we live in an online world.

I'd say the most important aspect of cash is that it goes directly from one person to another, with no intermediaries or 3rd party dependencies or controlling authorities or delay or clearance requirements or other bullshit. Bitcoin and paper money both do that just fine. Except for Bitcoin you don't have to be face to face with someone, which seems a huge advantage to me.
legendary
Activity: 1736
Merit: 1023
February 03, 2015, 10:53:08 AM
#20
Yeah, bitcoins require an active internet connection in order to send them whereas cash does not. An important distinction to make.
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