Bitcoin Compared to Gold and Traditional Currency by ...

Stub For Bitcoin Users In India

Unlike other countries India ironically does not embrace new technology and thus momentum is low. Therefore I felt a need to connect with other bitcoin users in India to discuss , meet and promote Bitcoin in India. discuss wallets ,exchanges,price and other crypto assets.
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Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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Bitcoin - The Internet of Money

/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
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What's the difference between Bitcoin and traditional currency?

Bitcoin can be used as an electronic payment method. At this level, it is a bit like the traditional US dollar, euro and Japanese yen, because these can also be traded electronically, but it is still very different from the traditional Legal currency.
  1. Decentralization
The most important feature of Bitcoin is decentralization. There is no single organization to control Bitcoin network. It is maintained by a group of engineer volunteers and runs on the global open dedicated computers, which attracts those who are dissatisfied with the full control of banks or government agencies over their money.
Bitcoin solves the "secondary use problem" of electronic currency (because general electronic assets are easy to be copied and reused), and it is through an original cryptography and economic incentive mechanism.
In the traditional electronic legal currency, this function is realized by the bank, which gives the bank absolute control in the traditional financial system.
However, through Bitcoin, the integrity of transactions is maintained by a distributed open network that does not belong to anyone, and no one has absolute control.
  1. Limited supply
Legal currency, such as US dollar, euro, Japanese yen, etc., the central bank can issue any number of currencies, and also try to control the exchange rate of one currency to another. The holders of currencies, especially citizens who have no other choice, need to bear this risk.
For Bitcoin, its supply is strictly controlled according to the underlying algorithm. A small amount of new Bitcoin is generated every hour, and it will be generated at a gradually reduced rate until the total number reaches 21 million.
Moreover, due to the limited number of Bitcoin, it will not be issued at will. Bitcoin has a high holding value.
  1. Constancy
Unlike the electronic Legal currency, the transaction of Bitcoin is irrevocable. If the transaction is recorded on the network and has passed for an hour, it can't be changed.
Although this situation may upset some people, it also means that no transaction on the Bitcoin network can be tampered with.
  1. Anonymity
The identity of traditional electronic payment initiators is generally identified, to cooperate with anti money laundering laws and other regulations. However, Bitcoin users are semi anonymous in theory, because there is no authentication center, and Bitcoin users do not need to prove their identity when transferring.
In practice, each user is identified by the address of the wallet, and the transaction can be traced in this way.
  1. Separability
The smallest Bitcoin unit is called Cong, which is one hundred million times of a Bitcoin. It can support Bitcoin to do micro transactions that traditional electronic currencies cannot.
But the value of Bitcoin depends on how many people, goods and services are willing to accept this payment. If the number of people in accepting Bitcoin increases, the market will further flourish, and Bitcoin will have a huge appreciation space. If the number of Bitcoin users decreases, its value is likely to decline.
submitted by top1markets to forex_trades [link] [comments]

The Difference Between Bitcoin and Traditional Currencies

The Difference Between Bitcoin and Traditional Currencies submitted by AnxiousAnalyst to u/AnxiousAnalyst [link] [comments]

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says

submitted by devboricha to CryptoCurrency [link] [comments]

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says submitted by pale_blue_dots to CryptoCurrency [link] [comments]

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says (x-post from /r/Cryptocurrency)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says (x-post from /r/Cryptocurrency)

Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says (x-post from /Cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

How much of the popular cryptocurrency (Bitcoin, Etherium, etc.) usage is speculative relative to their use as mediums of exchange? How does this compare to the traditional currencies like the U.S. dollar and Euro?

submitted by RoFox to AskEconomics [link] [comments]

Why are people compromising traditional and physical currency over BITCOIN?

Bitcoin has gained and still gaining too much popularity from the general public because it’s a decentralized digital currency. You can also check how bitcoin is soothing the activity of transfer and exchange with paying any higher fees. It has more convenient and the fastest features that give you online anonymity. Besides that, here are […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

"Bitcoin is P2P cash. And if it were allowed to actually BE that by its devs and Blockstream Inc., it wouldn’t be suffering so badly because people will be using it all over the world for commerce and as an alternative currency to traditional markets. Remember those days Erik?"

submitted by Egon_1 to btc [link] [comments]

Big Investors Not Scared by Bitcoin Price Drop, big investors are convinced cryptocurrencies are here to stay and will compete with traditional currencies and assets

Big Investors Not Scared by Bitcoin Price Drop, big investors are convinced cryptocurrencies are here to stay and will compete with traditional currencies and assets submitted by cryptolamboman to CryptoCurrency [link] [comments]

Judge Freezes U.S. Assets of Mt. Gox CEO, Related Companies

(From Dow Jones):
CHICAGO--A federal judge froze the U.S. assets of the chief executive of a once-dominant online exchange for virtual currency and two related companies. U.S. District Judge Gary Feinerman placed a temporary freeze Tuesday on the assets of Mt. Gox Chief Executive Mark Karpel ès, a related U.S. company, and the Japanese parent company of the online exchange. The Japanese firm that operates the exchange was shielded from the order because of ongoing bankruptcy proceedings. The ruling stems from a potential class-action lawsuit filed on behalf of customers of the online exchange for the virtual currency known as bitcoin. The suit was brought after U.S. customers became unable to withdraw bitcoins and traditional currencies from their Mt. Gox accounts. Mt. Gox filed for bankruptcy protection in Japan last month and the U.S. this week, having said its network may have been hacked, resulting in the loss of almost 750,000 of its customers' bitcoins and about 100,000 of its own. The lost bitcoins are valued at $473 million . A law firm representing the Japanese entity that is shielded because of the bankruptcy proceedings was present in court, but declined to comment after the proceeding. Neither Mr. Karpeles nor a lawyer representing him personally attended the court hearing here. Write to Mark Peters at [email protected]
(END) Dow Jones Newswires 03-11-14 1332ET Copyright (c) 2014 Dow Jones & Company, Inc.
http://online.wsj.com/news/articles/SB10001424052702304020104579433282831905574?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304020104579433282831905574.html
submitted by eurodance to Bitcoin [link] [comments]

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/ submitted by Varkrix to u/Varkrix [link] [comments]

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/ submitted by baoanhq9 to u/baoanhq9 [link] [comments]

Get paid in traditional currency and receive bitcoin?

Basically a reverse BitPay. Is something like that available?
submitted by _Hormoz_ to Bitcoin [link] [comments]

LUNO is a bitcoin-related company headquartered in London. LUNO facilitates bitcoin storage and transactions such as buying, selling and paying through their bitcoin wallet services. They also operate exchanges between traditional currencies and bitcoin.

LUNO is a bitcoin-related company headquartered in London. LUNO facilitates bitcoin storage and transactions such as buying, selling and paying through their bitcoin wallet services. They also operate exchanges between traditional currencies and bitcoin. submitted by igwemarvel to u/igwemarvel [link] [comments]

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/

The global economy is still driven today by traditional currencies and many people shy away from #cryptocurrency because they don’t know what to do with it. We aim to solve exactly this issue by bringing #Bitcoin #Ethereum, etc. directly to the mainstream! https://all-stocks.net/ submitted by baoanhq9 to u/baoanhq9 [link] [comments]

CMV Cryptocurrencies like Bitcoin with permanent limits to the maximum amount of currency in circulation are inherently not sustainable long term and do not make viable long term alternatives to the more traditional currencies.

The way I see it if a currency does not have room for expansion of its monetary supply then as it gets used more the price per unit increases relative to other currencies. This inherent deflationary pressure seems like it would over time reduce the volume of currency being traded for goods and services as the coins in your wallet are an appreciating asset and if you spend them on a good today you are missing on increased profits tomorrow which means other means of payment would be preferable for purchases. This all seems very unhealthy for its use long term as currency as people would have a tendency to treat it as a commodity which can even be seen now by the fact that some own Bitcoins as a means to gain profit.
Markets work far better when there is a relatively stable value for their relevant currencies. Large swings in relative value undercut commerce because it causes both consumers and vendors to question if a given trade is really in their best interest at that time. Could I buy way more if I waited a month for my currency to appreciate?
I know people say having limits to currency in circulation avoids some of the dangers they see with centrally managed currencies. To me you could have say a set 2% inflation rate hardcoded into the currency per year that was divided out as a maximum rate of coins able to be mined per day after an initial expansive period to establish a base monetary supply and much of those problems would evaporate.
I honestly do not see the benefit to a hard permanent limit to amount of currency in circulation but hey CMV!
submitted by Derpese_Simplex to changemyview [link] [comments]

“Revolut is merging traditional banking and cryptocurrency to let you buy, sell, trade, and hold Bitcoin, Litecoin, and Ether alongside 25 world fiat currencies.”

“Revolut is merging traditional banking and cryptocurrency to let you buy, sell, trade, and hold Bitcoin, Litecoin, and Ether alongside 25 world fiat currencies.” submitted by stefanzyrafa to ethtrader [link] [comments]

Facebook applies for emoney license with Ireland Central bank to create own currency and compete with bitcoin and traditional banks

Facebook applies for emoney license with Ireland Central bank to create own currency and compete with bitcoin and traditional banks submitted by adrianchilders to Bitcoin [link] [comments]

5 Differences between Traditional Currency and Bitcoin/Cryptocurrency for beginners /r/Bitcoin

5 Differences between Traditional Currency and Bitcoin/Cryptocurrency for beginners /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Get paid in traditional currency and receive bitcoin? /r/Bitcoin

Get paid in traditional currency and receive bitcoin? /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

Get paid in traditional currency and receive bitcoin? /r/Bitcoin

Get paid in traditional currency and receive bitcoin? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

How to Avoid Bitcoin and Cryptocurrency Scams Here Is Why Litecoin and Bitcoin Will Moon Again And Replace Traditional Currency. Are Bitcoins and Unusual Hats the Future of Currency ... The real value of bitcoin and crypto currency technology - The Blockchain explained State Of The Crypto-Currency And Traditional Economies (# ...

Click here for a PDF slideshow version of this post.. 1. Bitcoin is presently a store of value as are gold and traditional currency. 2. Centralized or decentralized control: Many of you will be asking whether Bitcoin is like our traditional currency, and if it is possible to buy goods and services with Bitcoin. Like normal currency, it is possible to buy things from a ... Bitcoin has gained and still gaining too much popularity from the general public because it’s a decentralized digital currency. You can also check how bitcoin is soothing the activity of transfer and exchange with paying any higher fees. It has more convenient and the fastest features that give you online anonymity. Besides that, here are […] Bitcoin currency systems make transactions without involving any middle-men, such as banks or financial institutions. This digital currency system can now be used like any other traditional currency to book hotels or flights, shop online, and buy food or pay for other basic requirements. Apart from its conventional use like currencies, The relationship between Bitcoin and traditional currencies is a complex one. Bitcoin seeks to undermine the traditional way of dealing with money, so Bitcoin versus traditional money is a natural opposition. This article ...

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How to Avoid Bitcoin and Cryptocurrency Scams

Viewers like you help make PBS (Thank you 😃) . Support your local PBS Member Station here: https://to.pbs.org/donateidea If you've ever played Team Fortress ... Well the current value of a bitcoin has been quite volatile lately in relation to other traditional currencies. But the Bitcoin plan calls for the creation of only 21 million bitcoins. In this way ... Digital currencies like bitcoin are coming (and it's a good thing): ... Could Cryptocurrencies ever Replace Traditional Money? What will Happen during a Market Crisis? - Duration: 5:41 ... TRADITIONAL MARKETS AND BITCOIN IN TROUBLE !!!??? BITCOIN LITECOIN and ETHEREUM ANALYSIS DAILY UPDATE! 🔥My Wife's CRYPTO MERCH page: https://inkurimage.com 🔻... Bitcoin in five minutes: Blockchain technology will drastically change our lives. In the coming years, the technology behind crypto currencies such as Bitcoi...

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