Is Bitcoin Sound Money? - page 30. | Bitcointalksearch.org

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Quote from: Cosbycoin on July 20, 2017, 03:21:28 AM

Quote from: DaftAjax on July 19, 2017, 06:49:44 AM

Quote from: traderethereum on July 15, 2017, 09:11:00 AM

i am agree that bitcoin is sound like money as a matter of fact, we can really make money from bitcoin itself and no matter who you are, where you live, bitcoin can help you to make money. but unfortunately, many peoples don't believe with bitcoin and they are don't care about bitcoin, the worst is they are consider that bitcoin can scam them.

This is where Digital Divide comes in my friend, it resides to people who are computer literate and those who're not.

As matter of fact, as of now, Bitcoin is really like money (setting aside the 'decentralization'), we earn Bitcoin and eventually convert it into fiat.

These people who doesn't believe or to be precised these people who doesn't even know bitcoin are those people that has no interest in 'trend news' online or maybe these people thinks that Bitcoin is some kind of 'networking business'.

In my opinion anything that works for me as an exchange to purchase goods or services is money. I believe that bitcoin has all those characteristics which are required for something considering it money, so I have no problem in calling bitcoin money. It may differs from the traditional money but in the end it is money.

Bitcoins indeed sound money. They are just like doing customary online banking; the difference is simple that banks have physical existence where as bitcoin wallets are all digitized. Both have the same job. Rather storing bitcoins in wallets is far more convenient than storing cash in banks. Bitcoins over the time do increase in value but this is not the case with money deposited in banks.

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Quote from: yoonah on July 20, 2017, 07:29:49 AM

Yes bitcoin sound money because I can use it to buy things online and pay my bills also. And also you can gain profit out of bitcoin if you will hold it for many years, but bitcoin is also a technology and we are lucky that we are able to use it.

I will say anything I use to pay all money. Bitcoin sounds money because I can use it pay some bills and some stuff online. I can also change Bitcoin into cash in the local exchange in my country (It like an ATM). For those who idle or unemployed, you guys can use Bitcoin to gain some money.

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Yes bitcoin sound money because I can use it to buy things online and pay my bills also. And also you can gain profit out of bitcoin if you will hold it for many years, but bitcoin is also a technology and we are lucky that we are able to use it.

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Yes bitcoin is sound money. It can buy you things, it's a great store of value and it can be converted to fiat. One can make investment, start businesses with it and earn huge profits. Bitcoin doesn't need to be compared to gold it is modern world's gold itself. And those who may not agree with the fact that it's a sound money will definitely agree that bitcoin has a potential to become one. In my opinion bitcoin despite being intangible is today more precious than gold.

Vixmore

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I do believe that Bitcoin is sound money as it's value can increase a lot in its lifetime. It is a cryptocurrency that is booming and has a very bright future ahead of it. I can see a future where cryptocurrencies will dominate the currency market and paper money will be non-existent. It just makes more sense to use digital money and leave paper alone.

Of course, Bitcoin can be classified as both an asset as well as money, a currency.

Quote from: Invester on July 20, 2017, 03:32:35 AM

If you can spend it buy the things you need, then perhaps that is enough for it to be considered sound money. But this money, take note, is not the money that we used to know. Because this is a sort of an advance money, a digital or virtual one.

Here's the catch: gold was used as a money long time ago, but when the time came when the value of gold went up so high, it ceased to become money anymore. Instead, it became an asset, a precious one. People kept it away; they don't spend them anymore until such time another kind of money totally replaced it. The same with silver. Bitcoin has come to that age, I guess. The value is so high already that I think it is much wiser to keep them rather than save them, earn them rather pay them.

I agree with what you have to say, this is exactly how I see it too. It will be interesting to see what happens to bitcoin when people start spending them like crazy and don't hold onto them. A bit like in Japan where you get negative interest when you deposit your money into your bank account. This ensures that money is kept in circulation.

harjas2517

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Bitcoin already earned good name in the market & it has good potential to grow in the future it will be accepted world wide in near future. Yes it sounds good money for me.

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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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Bitcoin is literally a money. It doesn't sound money because bitcoin is a money.

engwai

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In my opinion, whatever investment it is, diversify is key

Invester

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If you can spend it buy the things you need, then perhaps that is enough for it to be considered sound money. But this money, take note, is not the money that we used to know. Because this is a sort of an advance money, a digital or virtual one.

Here's the catch: gold was used as a money long time ago, but when the time came when the value of gold went up so high, it ceased to become money anymore. Instead, it became an asset, a precious one. People kept it away; they don't spend them anymore until such time another kind of money totally replaced it. The same with silver. Bitcoin has come to that age, I guess. The value is so high already that I think it is much wiser to keep them rather than save them, earn them rather pay them.

Cosbycoin

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Quote from: DaftAjax on July 19, 2017, 06:49:44 AM

Quote from: traderethereum on July 15, 2017, 09:11:00 AM

i am agree that bitcoin is sound like money as a matter of fact, we can really make money from bitcoin itself and no matter who you are, where you live, bitcoin can help you to make money. but unfortunately, many peoples don't believe with bitcoin and they are don't care about bitcoin, the worst is they are consider that bitcoin can scam them.

This is where Digital Divide comes in my friend, it resides to people who are computer literate and those who're not.

As matter of fact, as of now, Bitcoin is really like money (setting aside the 'decentralization'), we earn Bitcoin and eventually convert it into fiat.

These people who doesn't believe or to be precised these people who doesn't even know bitcoin are those people that has no interest in 'trend news' online or maybe these people thinks that Bitcoin is some kind of 'networking business'.

In my opinion anything that works for me as an exchange to purchase goods or services is money. I believe that bitcoin has all those characteristics which are required for something considering it money, so I have no problem in calling bitcoin money. It may differs from the traditional money but in the end it is money.

ubitcoin

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Quote from: bs.glory on July 18, 2017, 11:31:30 AM

Quote from: kidoseagle0312 on September 23, 2016, 09:55:46 PM

Bitcoin is really a true currency/money. Why? because once you have it you can convert into a real money according to country you belong. And the banks also accepting bitcoin whether you are in different places of the world. In that case it shows how bitcoin is very popular in online business.

I agree with you, it is very indeed a monetary value of exhange wherein you could buy things you've wanted, only the difference is that theyare electronically or digitally stored and not in our pockets. It is also same as banking moneys, it reflects the value you've inputted to your own bank account.

Yes, we cannot store bitcoin in our pockets. But there are a safe and protect pockets online. Where we can store our bitcoins. It is also same like keep money in bank then using that money online. But bitcoin is better than bank money because it is increasing where bank money also but no in the number in which the bitcoin is increasing.

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Quote from: doomloop on July 16, 2017, 05:01:47 AM

Quote from: DagoDuck on July 15, 2017, 08:12:43 AM

Quote from: Przemax on July 15, 2017, 05:16:58 AM

Yes it is sound money as every secure token thats good to measure a value with. That doesnt mean that bitcoin is a replacement of any other type of money. Usualy its the bad money that is so numerous and so widespread that it literaly wash out the market of other currencies, like fiat does.

Besides that Bitcoin is way to slow as an replacement for money.

bitcoin is being use as a cash money in the case if someone exchange their bitcoin to the fiat money but I think bitcoin has the ability of buying objects and saving money and to buy anything you want through online payment so I think bitcoin has provide an ease for those who cannot go to the markets and cannot spare time for markets so they love to use bitcoin online payment service.

Bitcoin sometimes I think is more than just a cash or a stored money at bank. I am impressed by the bitcoin features, without going to any bank you can save your money i.e. bitcoin.

There are rules and regulations of all the financial institutions and the formalities which may not be sometime possible to be fulfilled by all at a time and in such a time if you have bitcoin in your wallet you will know the ease that you are provided with the bitcoin. If it is transferring money to someone or paying any online bills.

DaftAjax

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Quote from: traderethereum on July 15, 2017, 09:11:00 AM

i am agree that bitcoin is sound like money as a matter of fact, we can really make money from bitcoin itself and no matter who you are, where you live, bitcoin can help you to make money. but unfortunately, many peoples don't believe with bitcoin and they are don't care about bitcoin, the worst is they are consider that bitcoin can scam them.

This is where Digital Divide comes in my friend, it resides to people who are computer literate and those who're not.

As matter of fact, as of now, Bitcoin is really like money (setting aside the 'decentralization'), we earn Bitcoin and eventually convert it into fiat.

These people who doesn't believe or to be precised these people who doesn't even know bitcoin are those people that has no interest in 'trend news' online or maybe these people thinks that Bitcoin is some kind of 'networking business'.

concept2

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Quote from: pathapoddo on July 15, 2017, 08:39:51 AM

Yes bitcoin sounds like money.Because it has a measure value like money.But it is not true that bitocin take the place of any other currency. Thank you.

Yes it is. We can use it to buy things in the internet. And we can also exchange it into cash. Bitcoin now is very famous, the most popular cryptocurrency in the world. It really easy to invest too because its price will always go up, it is hard to decrease, very hard. To me, Bitcoin really sounds like money.

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Quote from: kidoseagle0312 on September 23, 2016, 09:55:46 PM

Bitcoin is really a true currency/money. Why? because once you have it you can convert into a real money according to country you belong. And the banks also accepting bitcoin whether you are in different places of the world. In that case it shows how bitcoin is very popular in online business.

I agree with you, it is very indeed a monetary value of exhange wherein you could buy things you've wanted, only the difference is that theyare electronically or digitally stored and not in our pockets. It is also same as banking moneys, it reflects the value you've inputted to your own bank account.

Superways

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Quote from: doomloop on July 16, 2017, 05:01:47 AM

Quote from: DagoDuck on July 15, 2017, 08:12:43 AM

Quote from: Przemax on July 15, 2017, 05:16:58 AM

Yes it is sound money as every secure token thats good to measure a value with. That doesnt mean that bitcoin is a replacement of any other type of money. Usualy its the bad money that is so numerous and so widespread that it literaly wash out the market of other currencies, like fiat does.

Besides that Bitcoin is way to slow as an replacement for money.

bitcoin is being use as a cash money in the case if someone exchange their bitcoin to the fiat money but I think bitcoin has the ability of buying objects and saving money and to buy anything you want through online payment so I think bitcoin has provide an ease for those who cannot go to the markets and cannot spare time for markets so they love to use bitcoin online payment service.

It's not about those who are not going to market. Bitcoin is providing willing power. If you have completely study the benefits of bitcoin you will have more knowledge that why people are prefer bitcoin for buying goods and services so i would prefer it has ability more than a fiat cash in these days.

doomloop

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Quote from: DagoDuck on July 15, 2017, 08:12:43 AM

Quote from: Przemax on July 15, 2017, 05:16:58 AM

Yes it is sound money as every secure token thats good to measure a value with. That doesnt mean that bitcoin is a replacement of any other type of money. Usualy its the bad money that is so numerous and so widespread that it literaly wash out the market of other currencies, like fiat does.

Besides that Bitcoin is way to slow as an replacement for money.

bitcoin is being use as a cash money in the case if someone exchange their bitcoin to the fiat money but I think bitcoin has the ability of buying objects and saving money and to buy anything you want through online payment so I think bitcoin has provide an ease for those who cannot go to the markets and cannot spare time for markets so they love to use bitcoin online payment service.

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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?

Watch Video

It is still a great confusion why people are keep on arguing about an obvious thing to compare. As much as possible we must not arhuing about that matter anymore. Gold has been established hundred of years ago has been used as an official currency on trading industry on time of our ancestors while bitcoin which was a few years ago established is now used as a currency legalized on many countries. It must not be an issue of comparison anymore for they have different usage and purpose of being established. It depends on the users interpreting this kind of matter.

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Obviously very different between gold and bitcoin,
But gold and bitcoin can be invested in the future..

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Quote from: traderethereum on July 15, 2017, 09:11:00 AM

i am agree that bitcoin is sound like money as a matter of fact, we can really make money from bitcoin itself and no matter who you are, where you live, bitcoin can help you to make money. but unfortunately, many peoples don't believe with bitcoin and they are don't care about bitcoin, the worst is they are consider that bitcoin can scam them.

I agree your points. Bitcoin is a sound currency.Many know this. It may not spread among people due to lack of knowledge. We should spread about bitcoin among People. Bitcoin is a tax free currency. We no need to pay tax for the bitcoin which we have.

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