Is Bitcoin Sound Money? - page 34. | Bitcointalksearch.org

kpcian

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Quote from: andrei56 on June 26, 2017, 10:10:18 PM

Quote from: vitaliikho on June 19, 2017, 08:36:55 AM

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

I strongly believe that bitcoin is like another currency, it depends on you how you call it, bitcoin is basically a form of money which value is increasing day by day. It also has created a strong ground where people are going to be connected with this system, from my point of view is that since Bitcoin is using as a payment tool in many ways so bitcoin can be considered as a money...

Blackwhite69

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Bitcoin will be better than gold because every year the price is increasing.

GreenBits

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Quote from: Taskford on June 26, 2017, 10:30:31 PM

Oh c'mon lets all be realistic here. Anybody here says bitcoin is not sound money for them? Just give me your btc though! Roll Eyes

On a serious note, as long as it pays my bills, I can buy what I want and it support my living, bitcoin is sounds really money for me.
Stop comparing btc vs. gold because they are a lot difference. Gold is tangible, btc is not. Maybe they are always being compared because of their high value in our society.

Well, let's define money, vs an investment. When I think of money, I think of static value. I get paid for my job with x money, my bills cost y money, and I get to save z for later, or at least until I want to buy drugs. When I think of an investment, I think of something that's going to appreciate (or depreciate, you can't pick em all). Bitcoin is, suffice it to say, volatile. You can't make any long term plans with certainty, say a power bill or a mortgage, because you may wake up to find you only have 75% of the value you put aside to pay said bill. This is why the IRS wisely considers btc property instead of currency; the valuation varies too much per annum/quarter/day/hour Wink

This isn't sound money. This is bedlam.

Taskford

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Oh c'mon lets all be realistic here. Anybody here says bitcoin is not sound money for them? Just give me your btc though! Roll Eyes

On a serious note, as long as it pays my bills, I can buy what I want and it support my living, bitcoin is sounds really money for me.
Stop comparing btc vs. gold because they are a lot difference. Gold is tangible, btc is not. Maybe they are always being compared because of their high value in our society.

andrei56

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Quote from: vitaliikho on June 19, 2017, 08:36:55 AM

I think it's still too early to talk about this.
Crypto currency is still too young, but I think it has a great future.

I disagree, gold has been sound money from the beginning, fiat is not sound money from the beginning because governments can print it at will, bitcoin has limited supply and cannot be created at will so to me that makes it sound money from an economic point of view.

yooper

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Quote from: karabasss on June 26, 2017, 12:53:17 PM

Bitcoin is not just money. If he were just money, he would not be able to attract a lot of investors. The greatest advantage of bitcoin is the constantly growing price. And even ease of use.

certainly not growing since I bought some last week, lol.

I'm a noob, so treading lightly but I put what I had picked up back into a fiat wallet for now, I suspect I can buy back in at a much lower cost before long, there seems to be a run on cash-outs after the recent spike in value, just a guess regarding the falling price, down almost 10% since last week.

ss890

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To me yes it is. The first reason is gold has seen its good times now it is time and era of new generation who is looking towards the future of world. The gold is not that important as the technology is. This is era of robotics and start of new world with more importance to binary language than the old time beer and horse rides. Bitcoin would be medium to pay everyone in near future and there will be one country on the earth to unit and follow it. That is big dream but it sounds real future.

karabasss

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Quote from: Christian13 on June 26, 2017, 12:07:12 PM

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.

In fact, bitcoin is digital money that you can use in different transaction in online like paying bills, shopping in online market and more. In addition to that, you can also convert your bitcoin into fiat or real money that you can use in offline store. I guess some commercial establishments already accept the bitcoin as a payment of their costumer so that I think bitcoin is money.

Bitcoin is not just money. If he were just money, he would not be able to attract a lot of investors. The greatest advantage of bitcoin is the constantly growing price. And even ease of use.

Christian13

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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.

In fact, bitcoin is digital money that you can use in different transaction in online like paying bills, shopping in online market and more. In addition to that, you can also convert your bitcoin into fiat or real money that you can use in offline store. I guess some commercial establishments already accept the bitcoin as a payment of their costumer so that I think bitcoin is 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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Bitcoin does not obly sound money but it is a real money Bitcoin is an electronic money that you can use.There are already some stores that are accepting bitcoin in change to the commercialized products that they have.

darthmaul

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Speaking old generation it is hard to make them believe about new technology and its implementation. The gold is always truthful for that generation because that is what they believed from old times or since the black and white times. It is physical and they can feel it in their hands thats why they are gold believer. However, bitcoin is new generation currency and it can also be used as fiat currency by converting them into your local currency by means of exchanger or wallet services. It is easy to do that for people like us who are all into bitcoin and hence bitcoin is new generation gold. We will also keep all the faith unto bitcoin in the future because we saw its raise since its birth! So its all about the personal beliefs in the bitcoin or gold. And yeah bitcoin sound money!

fujyo86

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Bitcoin sound money for my family's. Gather with family while making money from bitcoin trade. And i think it's better, just need a laptop & internet connection.

DRaGoN RaNTaRo

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Quote from: Vaculin on June 23, 2017, 09:06:23 AM

Bitcoin sounds money for me too.It may be a luxury to an individual in the sense that when bitcoin is changed into fiat money,its convertion is very high.That's the reason why most of the people prefer to keep it for a long time because it might double the price increase when compared to the present.

Since you mentioned that the price of bitcoin is really high and you could convert to fiat and you could end up being at a very good profit but one thing you must understand is that if you are investing in bitcoin you must spend the same amount of money to purchase bitcoin and for people who are making money through bitcoin it might be a good thing,after all bitcoin is a sound investment opportunity.

sergio red

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Obviously, Bitcoin sounds money, you can use it as a currency in many countries, you can pay the restaurant bill by Bitcoin, you can also pay the clothes shopping bill by Bitcoin. Not only that but also Bitcoin is using as a payment tool of purchasing air tickets. So definitely it is like money...

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Quote from: thunderbitz2717 on June 23, 2017, 01:58:59 AM

Bitcoin is money for me, as long as you can used it to pay online and can convert it into a real cash money. This is considered as
a real currency because one of the example of this is, we can use bitcoin to send money through money transfer via remittances outlet.

For me, your opinion is correct. As a highschool student, my purpose is to use Bitcoin to pay the school fee. Sometimes, I also pay some bills, and cost of living in my family. Actually, Bitcoin is very benefited though.

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Quote from: Shiversnow on June 23, 2017, 09:19:01 AM

Quote from: xuan87 on September 24, 2016, 06:23:02 AM

for me bitcoin is money, because i can use it to buy things and i can do transaction with it, and if somebody ask "is there are any similarity with gold or other precious metal?", i dont think so, but as an investment bitcoin is a good option, but to compare it with gold, I think its two different things

Well, for me bitcoin is also money because I can use it in different kind of transaction and some people use it in their business.Bitcoin has a value like real money and it is luxury to an individual. Having bitcoin will help you to sustain all your need in the near future.Lastly; you can convert your bitcoin into fiat so I think bitcoin is money.

I see what you're trying to state though I am pretty sure that money is only called "Money" once the Government approves it as such. People in the Government are looking into calling Bitcoin money though there is just so many people trying to use it anonymously that they are scared to use it themselves.

Shiversnow

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Quote from: xuan87 on September 24, 2016, 06:23:02 AM

for me bitcoin is money, because i can use it to buy things and i can do transaction with it, and if somebody ask "is there are any similarity with gold or other precious metal?", i dont think so, but as an investment bitcoin is a good option, but to compare it with gold, I think its two different things

Well, for me bitcoin is also money because I can use it in different kind of transaction and some people use it in their business.Bitcoin has a value like real money and it is luxury to an individual. Having bitcoin will help you to sustain all your need in the near future.Lastly; you can convert your bitcoin into fiat so I think bitcoin is money.

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Quote from: Magkirap on June 23, 2017, 08:41:25 AM

Quote from: Cast12 on September 23, 2016, 09:42:35 PM

I do think that bitcoin is sound money since even though the value either increases or decreases due to supply and demand(like gold). I do like the fact that bitcoin can be transferred faster than gold(depending on where you and the buyer lives). I don't like the fact that sending bitcoins has a fee but I suppose that there is no way around that. I wonder what will happen when the maximum amount of bitcoin has been mined.

Well, I agree that bitcoin is money because some people use it in online market to pay their bills and to shopping in online. Furthermore, bitcoin has a value in the market and some bitcoin users use it in their business. I think bitcoin is money that doesn’t have exact value but very luxury to an individual.

Bitcoin sounds money for me too.It may be a luxury to an individual in the sense that when bitcoin is changed into fiat money,its convertion is very high.That's the reason why most of the people prefer to keep it for a long time because it might double the price increase when compared to the present.

KnightElite

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Quote from: thunderbitz2717 on June 23, 2017, 01:58:59 AM

Bitcoin is money for me, as long as you can used it to pay online and can convert it into a real cash money. This is considered as
a real currency because one of the example of this is, we can use bitcoin to send money through money transfer via remittances outlet.

Bitcoin is not sound a money because bitcoinis a real money. I know by using a bitcoin we can earn a lot of money because of it. I really believe that bitcoin will change my life.

Magkirap

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Quote from: Cast12 on September 23, 2016, 09:42:35 PM

I do think that bitcoin is sound money since even though the value either increases or decreases due to supply and demand(like gold). I do like the fact that bitcoin can be transferred faster than gold(depending on where you and the buyer lives). I don't like the fact that sending bitcoins has a fee but I suppose that there is no way around that. I wonder what will happen when the maximum amount of bitcoin has been mined.

Well, I agree that bitcoin is money because some people use it in online market to pay their bills and to shopping in online. Furthermore, bitcoin has a value in the market and some bitcoin users use it in their business. I think bitcoin is money that doesn’t have exact value but very luxury to an individual.

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