Is Bitcoin Sound Money? - page 27. | Bitcointalksearch.org

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Quote from: blackhawkeye1912 on August 13, 2017, 10:50:03 PM

Bitcoin is not sound money, instead it is money in reality. As long as you can use and convert it into a real cash money, then it is a currency that can be considered. Imagine if this is not money for sure it will be accepted as payment online. Right?

Yeah I agree to you. Bitcoin is not sound money because it is real money. It is real currency that you can use to buy different goods and services. Many businesses are now accepting bitcoin as payment like some hotels in japan and also the Lamborghini.

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Quote from: neochiny on September 23, 2016, 09:07:38 PM

I'm not going into all that debate and whatnot, all I know is that I can use bitcoin to buy things,
I can use it to pay for my bills, I can even convert it to cash anytime I want. So, as I see it, it's money.
More than that, like fiat it can buy things and like gold it's value could go up or down. Bitcoin does all these while making it easier for payments ;with the near instantaneous transactions and low fees then, as for the value; it could be both good and bad in terms of investmen/speculation becauee of the volatility.

There's no doubt. The answer is yes as stated in above answer. Bitcoin is a virtual money protected by a blockchain technology. It's safer than cash. It's less stressful than credit cards.

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Bitcoin is not sound money, instead it is money in reality. As long as you can use and convert it into a real cash money, then it is a currency that can be considered. Imagine if this is not money for sure it will be accepted as payment online. Right?

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Depends on your definition of "sound money", Personally, I see anything that can be used to exchange value sound money, hence bitcoin, of course, is also sound money, You can use it to buy things online or exchange for a variety of different currencies, and hence anything you can use other currencies for.

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Quote from: jimn on August 10, 2017, 06:54:48 PM

Without any doubr Bitcoin is money. We can using bitcoin for the same purposes we use fiat and other currencies , i don't see real difference, unless bitcoin is a lot better because it is offering us the opportunity to make more money

That is true that Bitcoin really is money, since few countries have accepted it as means of payment. Let's focus on those countries, so now I could say that Bitcoin has already its convenience to its usage since you don't need to convert Bitcoin to whatever country's fiats you are in just to make transactions and stuffs. So now it will be used as 'Bitcoin'. Imagine that we can have that convenience all over the world, that would be amazing.

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Still a newbie but i think bitcoin is like gold because the value of bitcoin sometimes decrease sometimes increase . but many people use this to buy anything like foods , gadgets and paying bilss etc. So sometimes bitcoin sounds money.

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Quote from: Paleus on September 23, 2016, 04:55:16 PM

The bitcoin vs gold debate has raged on in investment circles since bitcoin has entered mainstream discussion among increasingly interested investors. Gold has been used as a form of currency and trade for thousands of years, and certainly has a track record for reliability and preservation of wealth. However, as the newcomer onto the scene, bitcoin may be the kind of financial and technological breakthrough to to challenge gold as the monetary kingpin.

Early on in its life cycle, seasoned investors began questioning the legitimacy of bitcoin value and debating how such a commodity could hold intrinsic value. What differentiates bitcoin from a mere collectible and what makes it similar to precious metal assets such as gold or silver? Among many circles, especially gold bugs and older-generation investors, bitcoin was not considered a valid investment up until very recently.

Which factors of bitcoin instill this validity of investment?

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The truth is that Bitcoin is profitable for many people. They are earning and some already earned a huge amount of money from Bitcoin. The factor that resulted to this is that Bitcoin is still young and continuously growing in terms of its value. It is compared to Gold because both of their prices depends on the market's demand.

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Quote from: djkyno on August 12, 2017, 09:22:55 AM

I believe Bitcoin is money, as it is used like fiat and any other currency, to sell and buy things online and offline. Nowadays there is even ATMs installed in many countries offering the possibility to withdraw your coins in cash.

we all believe that bitcoin is money but to the other people, who are not using bitcoin, do not want to accept bitcoin as a currency. Therefore, what we need to do right now is to encourage more and more people to use bitcoin so that bitcoin will be legalized in the future. Bitcoin is the future of money and if you do not consider it as a type of money, you will be obsolete

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Quote from: Bonakid on August 12, 2017, 09:17:04 AM

I think bitcoin sound gold because sometimes its decreases and increases.the higher value of bitcoin the higher value you invest like gold.but sometimes it can be sound like money ,for example for paying our payments bills ,transacting through banking etc.

Bitcoins is more suitable be considered as gold or digital asset than money, money doesn't needs fees transaction when be used for daily payment, but bitcoins needs fees sending transaction, money has inflation every years but bitcoins can defeat inflation because the cap of bitcoins is just 21.000.000, bitcoins can be mined but money is printed.

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Quote from: daenarys_stormborn on August 12, 2017, 10:22:17 AM

Of course bitcoin sounds money, there is even the possibility of conventional money will be replaced by bitcoin.

everyone believe that bitcoin is money like you, but the think you said bitcoin replaced money this is not possible. Look at the fact that make bitcoin famous, it is the price of bitcoin in money that make bitcoin so famous and if money is replaced then I think bitcoin does not profits us, money is the only thing that separate bitcoin holders and others without bitcoin.

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Of course bitcoin sounds money, there is even the possibility of conventional money will be replaced by bitcoin.

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Quote from: Bonakid on August 12, 2017, 09:17:04 AM

I think bitcoin sound gold because sometimes its decreases and increases.the higher value of bitcoin the higher value you invest like gold.but sometimes it can be sound like money ,for example for paying our payments bills ,transacting through banking etc.

That right, Very flexible bitcoins can be used for whatever it is.
example :
Like gold that can go up and down in price
Can pay bills
Can be used for payment of goods and etc. Wink

djkyno

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I believe Bitcoin is money, as it is used like fiat and any other currency, to sell and buy things online and offline. Nowadays there is even ATMs installed in many countries offering the possibility to withdraw your coins in cash.

Bonakid

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I think bitcoin sound gold because sometimes its decreases and increases.the higher value of bitcoin the higher value you invest like gold.but sometimes it can be sound like money ,for example for paying our payments bills ,transacting through banking etc.

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It's not really money like USD or Euros are money. It is more like gold - something physical with a finite supply that can be harvested at some cost. It will be worth what people will pay for it. What if gold became unpopular, unfashionable even? The demand goes away, so does the price. Same with BTC. If people have a use for it and spend it to buy things online or in stores, then it will be valuable.

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Quote from: jimn on August 10, 2017, 06:54:48 PM

Without any doubr Bitcoin is money. We can using bitcoin for the same purposes we use fiat and other currencies , i don't see real difference, unless bitcoin is a lot better because it is offering us the opportunity to make more money

It was intended to use as money that's why we called it cryptocurrency from the word "currency". Bitcoin was used to buy things or pay services like fiat money used to be.

jimn

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Without any doubr Bitcoin is money. We can using bitcoin for the same purposes we use fiat and other currencies , i don't see real difference, unless bitcoin is a lot better because it is offering us the opportunity to make more money

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Bitcoin is sound money. It is legit virtual currency. It buys me things and can be gambled away. Comparing it to gold doesn’t make it any less of a currency. Comparing it to gold just to diss gold is a bit passé, I think. They have their differences as well as their own advantages. But each to his/her own opinion, I guess.

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Quote from: Intersan on August 06, 2017, 03:55:52 PM

Quote from: Kingofbitcoin12345 on July 27, 2017, 03:59:28 AM

Bitcoin is money. It is an oppurtunity from poor to rich to earn money in equal way.
No discrimination, you dont have to have a degree for it. It is bitcoin and i love it.

Same with your opinion, for me even it is not a true money (not legal) it is a stuff to earn a money. Bitcoin is our way to earn the dollar or local currency and that's the reason why we have a good life because of benefits and usage of bitcoin even it is not legal.

I spend my vacant time in bitcoin because if I earned some of this it has a big help for my studying and also for my finacial needs. Since it is not a true money but trading is there, it is the purpose of trading, to trade in other currency. Bitcoin is useless if there's no way to become worth this.

What is this statement? Bitcoin is not illegal LOL. It will only be illegal if you continue on earning or using it even if it is already 'banned' in you country.

We are earning Bitcoin for many reason, but the common thing about it is that to improve our economical statuses or to make a living that is.

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Quote from: kiddeon123 on August 06, 2017, 05:50:05 PM

bitcoin sounds like a gold! bitcoin has a high price today that it can now compete on gold, so I think that comparing bitcoin to money is an understatement

Nope it is not, the thread is mainly not comparing indirectly but directly. You see he is asking if 'Is Bitcoin sound Money?', so basically what he wanted to achieve from this is 'can we see Bitcoin as Money'. Explaining more clearer is that, whenever we earn Bitcoin where do we want to use it? We think about it and say, I can't buy food from this or even item. Since it is not world-wide-ish been accepted, in the online market they will not accept it (in items such as guitars, shoes and stuffs). But we think again, the only way we can utilize it is to convert it to Fiat and buy what we wanted and what we needed. Yeah, that's it.

Disclaimer: this may be true, but considering those countries that have already accepted Bitcoin, this already applicable.

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