Topic: Why Bitcoin is Different From Other Currencies? - page 35. (Read 4613 times)
The main difference between bitcoins and others electronic money is that they do not relate to the issuer's debt obligations. Bitcoins are an ordinary number, they are non-material. To perform a payment operation using bitcoins, it is sufficient to fulfill certain conditions.Main condition is to use bitcoin address, but there may be additional conditions.
Bitcoin is different than other currencies because of the algorithm it uses to secure the network along with it's scarce limited supply that get's slowly distributed to the network.
Bitcoin is a digital currency that was created by Satoshi Nakamoto in 2009.It is created electronically and impossible to control it.This currency are not printed currency like dollars or euros.Running computer all around the world are producing it.Owing to this reason they are different from other currencies.
Bitcoin is just a unique digital currency that gains more attention because it is created first. Maybe if ethereum is being created first, then probably ethereum is in the place of bitcoin right now as number one pick by investors. But anyway, we can't deny that being number one pick by investors is because of having potentials in gaining profit. Bitcion is already on top and it will continue it's greatness until the end.
BTC is not popular for being just digital. Bitcoin is gaining popularity because of the unique features like limited supply (ie. 21 million in a specific time frame), Decentralization, privacy, low transaction fees, fast and transparent transaction etc.
Hi! In my opinion, Bitcoin already has established infrastructure. There are sites, companies and merchants who accepted Bitcoin, big exchanges, local exchanges in almost every country, lots of people who accept it or willing to spend. Now, if you take some altcoin, you will have a very hard time exchanging it for your local currency or finding a place where you can spend it. The reason for this is because people don't see any need to work with altcoins if Bitcoin works just fine.
Bitcoin is a digital currency that was created by Satoshi Nakamoto in 2009.It is created electronically and impossible to control it.This currency are not printed currency like dollars or euros.Running computer all around the world are producing it.Owing to this reason they are different from other currencies.
You forgot the most important uniqueness that is limited in supply unlike the fiat. Moreover it is transfered through blocks and is absolutely decentralized. Mantained by a team of core developers all around the world.
Bitcoin is different from other currencies, in terms of regulation, Bitcoin is decentralized and no Central banks is handling Bitcoin, giving Bitcoin a very high volatility than other other currencies. Bitcoin can be used by a lot of people around the globe, unlike Fiat, whenever you go abroad you need to exchange your currency to currency of the place you are going to, well as for Bitcoin, if the price says it is .01 Bitcoin in Japan, it is .01 Bitcoin around the globe, no need to exchange you currency. Bitcoin also has anonymity, in which modern day currencies do not have, whenever you make transactions using you credit card, you need to sign your signature, you need verify to the bank that it is you, who is doing transactions and not someone else, however for Bitcoin, you just need to get the receiving address of the person and do the transaction. And lastly the difference between Bitcoin and other currency, is that Bitcoin has so much potential, in order for all of us to use as a global currency, and probably we can use it as one monetary system and get rid of Fiat, it will be hard, but it's possible.
The biggest difference is that it is digital. That in itself gives it advantages over paper money. Its value is also derived a different way, and no single entity can issue it. Holders can exercise absolute control, unlike fiat which is stored in banks.
Bitcoin is a digital currency that was created by Satoshi Nakamoto in 2009.It is created electronically and impossible to control it.This currency are not printed currency like dollars or euros.Running computer all around the world are producing it.Owing to this reason they are different from other currencies.
Well thats the reason it is running smoothly in the current era. Otherwise there was no reason for it to survive in such brutal era. I mean it was all digital stuff and people loved the change in first place that's why it kept so high all the time and led us to all new futuristic currency. Hope this will continue futyer and new developments will bring up something even greater than bitcoin as we see it today.
Bitcoin is a digital currency, it does not have any physical appearance.So it is different from the entire other currencies.The transaction on bitcoin is only possible through internet.By this it is free from the payment of tax and service fees.This advantage make bitcoin more valuable form the other currencies.And we can use this bitcoin for everything that instead of normal currency.BItcoin debit card make it more acceptable in every shops.
Certainly because Bitcoin is a digital currency that is born and developed through the internet that's not real and it's only on the internet. Another case with the regular currency in general that form and its development throught in the real world that can be touched by us when using it. And also we know that bitcoin has a very fluctuating value that is easily influenced by various things unlike a regular currency in general whose value has been set by the country's government.
Bitcoin is different from fiat currencies in several ways, first bitcoin is not only a currency but a digital asset that can be used as a store of value, secondly the bitcoin network relies on the computers located around the world, the technology also has a public ledger which promotes transparency unlike fiat which has several transactions behind closed door's.
which makes bitcoin different from other currencies is bitcoin can be used in many countries and also has a very high value compared with currencies across the country.
the difference is only a small bit where bitcoin has limit amount but other currency does not, let alone bitcoin is public type in sending but secret to who send. as you said nobody can control bitcoin then it's the uniqueness of bitcoin from other currencies.
Bitcoin is different, because it is a currency that are controlled by the people using it. It is not some fiat currency that are being manipulated by some governments. The value of bitcoins are purely determined by market factors. < Supply & Demand > Your fiat currency supply are being manipulated by governments. < printing it like toilet paper >
Bitcoin cannot be counterfeited like fiat currencies. < It is generated within a specific protocol and mined by miners > ^smile^
Bitcoin cannot be counterfeited like fiat currencies. < It is generated within a specific protocol and mined by miners > ^smile^
What is the point of making this post ? Posts are made here in order to pass on information, discuss issues and facts and help out each other.
The post you made is known by most of the people here and can easily be searched on google. There is no necessity of such posts which doesn't make any informative discussion on the board. Try to make posts which are informative and help others.
The post you made is known by most of the people here and can easily be searched on google. There is no necessity of such posts which doesn't make any informative discussion on the board. Try to make posts which are informative and help others.
There are so many things we can say all positive about Bitcoin in particular and even with cryptocurrency in general. Bitcoin is representing the technological revolution called Blockchain Technology or Distributed ledger technology where no one is centrally controlling anything so it is safe from possible control and hacking. Bitcoin has been accepted by critical mass of people all over the world because they are seeing something appreciative about it and they see its potential to change or partly change and improve human lives (starting with finance and into other areas of humanity's experience as well).
While many governments and even individuals have been calling Bitcoin as just another fraud or even worse as another form of a pyramid scheme, they never succeeded in dampening the interest and enthusiasm shown by the market for Bitcoin. I would say that the more some people are criticizing Bitcoin, the more it is surging in value all because the market now realizes who is telling the truth and who are just hyping to protect their own industry and interest.
Will Bitcoin stay for a lifetime? That is something we have to see and experience as years go by.
While many governments and even individuals have been calling Bitcoin as just another fraud or even worse as another form of a pyramid scheme, they never succeeded in dampening the interest and enthusiasm shown by the market for Bitcoin. I would say that the more some people are criticizing Bitcoin, the more it is surging in value all because the market now realizes who is telling the truth and who are just hyping to protect their own industry and interest.
Will Bitcoin stay for a lifetime? That is something we have to see and experience as years go by.
Bitcoin is not a currency but also Bitcoin is considered as a new business hub, I think that is the difference between Bitcoin and other conventional currency. we see that other currency's price is not getting ups and downs as like Bitcoin because of those currencies controlled by an authority but Bitcoin is fully controlled by it's holders. That is why I believe that Bitcoin is as like as the capital market.
Bitcoin is a digital currency that was created by Satoshi Nakamoto in 2009.It is created electronically and impossible to control it.This currency are not printed currency like dollars or euros.Running computer all around the world are producing it.Owing to this reason they are different from other currencies.
What makes bitcoin different is technology behind it that called blockchain. Blockchain technology is improving day by day and big banks will join in future. Bitcoin price is in uptrend because of growing interest to blockchain.
Yap.. that make bitcoin different than other. Nobody can duplicate and it anonymox.
So this different makes bitcoin getting more famous.
So this different makes bitcoin getting more famous.
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