How is bitcoin different from the dollar?
 

Ok how is bitcoin different from the dollar, all my online income comes from us $ if the us $ crashed i would be left with nothing the same as if bitcoin crashed.

how is bitcoin different from limited supply monopoly money?

It's worth 100 times as much.

Your right ill stick to the $ as more can be printed when needed. :1orglaugh

i see what you are driving at and there is a lot of truth to that. moreover, governments hve already proven that when their currency crashes, they won't hesitate to take some of yours to refill their kitty.

unfortunately, at this early, volatile stage of btc, the anti-bitcoin crowd is not going to be able to get it at all.

Those who do not immediately grasp the concept of virtual(cyber)-currency never will and should STFU.

:2 cents:

You're asking the wrong question.

The better question to ask would be, what should I do with my dollars and bitcoins so that if either of them crashed I would not lose anything.

Bitcoins have no inherent value. Nothing whatsoever. Nada. Zip. Zilch. Deal with it.

Gold and silver have actual uses. Even if people stopped wearing jewellery (unlikely after a known 5,000 year history of its use) you can still use them for industrial processes and both have medical applications.

Fiat currencies are backed by countries. They have to use them, so they have no choice but to support them. No-one backs Bitcoins. It is as likely that everyone who uses them will have stopped by next year as not. The only fiat currency you might possibly say that of is the Euro.

Funny, if i exchange one now i get 100 dollars in return.

<10% of gold is used for industrial purposes. gold is no different than cash, it has value because we all agree it does.

You can only crystalise that gain if you sell, and as yesterday proved, there is no easy way to sell, as all the exchanges are either scams or flakey - and keep getting hacked DDoSed, or plain fall over.

Haha wtf are you talking about you moron?? I can sell now. This second! Withou any problem.
Why are all of you people so fucking clueless??
This behaviour is so fucking pathetic.

those of you who say bitcoin has no value don't understand meaning of "value" much. all value is virtually assigned, be it fiat money, gold, land, labor or commodities.

bitcoin simply offers a fair unit to transact with that can't be tempered with to artificially inflate or deflate it's quantities and value. free market is in control of what the value of bitcoin is.

"fiat money are backed by their countries" - LOL. cyprus: "your money is safe with us" - can happen in any country. bad example? there are few in history with huge inflation wiping out people's savings to fraction of what they owned. yeah countries always back their money and people :upsidedow

its very simple...

the US$ is a crutial part of the global economy...no country in the world wants to see global economy upset...countries are so determined to protect their economies that they even launch wars to enforce it...every gun in the world, every bomb in the world, that come with every soldier in the world and every politician in the world is ready to literally wage war to protect it..

the US$ will never "crash" as you put it...let me give you an example...saddam wanted to sell his oil for NOT dollars, thus encouraging other countries with oil to maybe do the same, thus bringing down the demand and indeed the value of the US$ globally...he suddenly got accused of having WMD :1orglaugh ...

bitcoins have no army behind them...they have no government behind them...they have no law behind them...just a few suckers and some wise guys use it...there is a very clear difference between bitcoins and dollars...

simple test:

yo dirty f!

do you want one million dollars in cash right now (theoretically of course, I don't have any to offer) or one million dollars in bitcoins?

(he will say bitcoins because he cant help himself but we both know the answer)

peeps don't seem to consider that gold started off with the same valuation bitcoins did- $0.00

Nascent store of value.

guess where US national debt leads the US? default. it is coming if not soon then your kids and grand kids will have to deal with it

there is no way you would refuse that sexy sexy cash over butt-coins and you know it :1orglaugh:1orglaugh:1orglaugh

Wait, you think i read your replies longer than 2 sentences :1orglaugh

Might as well put your sorry ass on ignore all together :1orglaugh

Buh bye :thumbsup

The difference is the little regulation is there but there is some for the dollar. Where with bit coins there is nothing, I was reading about no one knowing the real name of the guys who created it. Also bit coins collapse there is no one to run in to save it. The dollar was going to collapse in 2008 and it was saved. Whether you agree or not it was seemless. My friend bank failed nothing changed for him. Cant say that with bitcoins.

Once oil is traded in bitcoins the US dollar will collapse.

Unrelated, I'm thinking about purchasing a cheesecake this afternoon... maybe at Trader Joe's.

I got it now, the Bit Coin diet. You can only eat food you can buy with bit coins. The pounds will drop fast. lol

this is all absolutely, completely true.
but i don't believe it is fair to expect a 3 year old currency, let alone the very fist currency based on math, to instantly be able to, not only compete with the usd, but replace it.



i don't think btc will be the currency based on an algorithm to break on through, but i do believe we will be pointing back to it as the cryptocurrency that kickstarted the next gen of currency.

here's another way to possibility: another state such as cypus takes a currency shit, the people stand tall and don't dig in their pockets to bail out banks, just like the success story in iceland. instead, the state embraces a math based currency as the state-backed currency.

that is not at all out of the question. it's not if, i believe it's when. because what is so great about paper currency anyway? nothing. it's just something to put in my pocket, and occasionally anway these days as most transactions are electronic anyway. so we are living in a primarily electronic-based transaction society that still relies on paper money when a brand-new currency based on math is available.

it is going to happen, maybe not this way, but someway. enjoy the ride people!

basically, BT value is virtual and can be erased in a snap.

on the other hand, dollar value (as any other currency in the world) is virtual and can be erased in a snap :Oh crap



See, the whole concept of "value" in economics terms is inane. Nowadays, the amount of actives in the whole world (I mean: THE WHOLE WORLD), amounts for around 1/4 of the "value" of money (considering money as an obligation from government A to give you some amount of gold, silver, other currencies, etc). To explain it in layman's terms: there's only 1/4 of the amount of money that is actually backed.

Even simpler: let's say tomorrow Google decides to simply unplug and close doors. In real economics, the impact is shallow: just some obligations to cover, some indemnification to employees... nothing we didn't see 1 million times. There's no real loss, the people that used their services can use another without losing a dime, nothing happened. However, in today's virtual economics, it would crash the world's economy. As simple as that.

With all of the above said, bitcoin is as safe or unsafe as any other currency. If you wanna be safe, invest in goats, cows and chickens. That will always have value no matter what :2 cents:

People think that Bitcoin have a max of 21,000,000 which is a big LIE.

There can be mined more than that, and it will surely change.

Everything can be changed, same as the fact that the creators of Bitcoin, can just press one button and have 100,000 in their wallet.

You people are LAME and too naive if you believe in the good faith of the hackers who created that system. You are way too innocent.

Just my two cents.

If they were Bitcents then you could actually make a profit.

i don't believe in the hacker's good faith, why anybody would assume i have is beyond me.

Keep mining as a slave. LOL.

After all, you finish being a slave of the system. :1orglaugh

Cant believe how innocent and naive you are to even setup a rig to mine, LOL, that really cracks me up.

http://www.davidicke.com/images/stor...s1-350x249.jpg

LOL @ you saying im a slave to the system when look at what everyone currently uses, i wont go into specifics but LOL. as i said, mining is a hobby, just like any other hobby out there, except i actually get money back, be in $1 or $100 who gives a fuck.

I find the bitcoin interesting. A new virtual currency that is rapidly growing and if you think about it not much different than today's non gold backed currencies. It is making people sit up and take notice. I wonder how far it can go. It will be fascinating to watch it develop.

Bitcoin is making me money. I like making money. I need more money...

Spoken as a true 'thinking inside the box' conformist ... The government LOVES your type! :thumbsup

For as long as there are people who want to buy BTC, they sure as shit hold intrinsic value.

facialfreak, yes that guy Cahek is a governments DREAM citizen, aka retard sheep LOL