money vs bitcoin

[LynnK.Russell]

Pretty sure I know what bitcoin is and how it works, but have a few questions. How can bitcoin be valued on the stock market with traditional money when it is supposed to replace money? And, how can the average person afford to buy one bitcoin at the price it is?

[nandibear]

Pretty sure I know what bitcoin is and how it works, but have a few questions. How can bitcoin be valued on the stock market with traditional money when it is supposed to replace money? And, how can the average person afford to buy one bitcoin at the price it is?

Hi Lynn,

You wont have to buy an entire bitcoin. You may purchase fractions of a bitcoin (e.g., 0.0001).

You can purchase bitcoins here at Bitcoin.com - https://buy.bitcoin.com or buy and sell bitcoins through a number of different methods at one of the many Bitcoin exchanges listed at https://www.bitcoin.com/buy-bitcoin.

Please read our Getting Started - https://www.bitcoin.com/getting-started/ section to learn more about Bitcoin, how it works and how to use it.

You may also find our FAQ - https://www.bitcoin.com/faq useful.

[grabberfish]

Pretty sure I know what bitcoin is and how it works, but have a few questions.

Ask on...

How can bitcoin be valued on the stock market with traditional money when it is supposed to replace money?

In the same way other currencies are traded on open forex markets. Something is traded against something else because each has a perceived value. Some people hold USD, some would not trust USD and prefer to hold GBP, some prefer not to hold fiat but hold property or bonds. Each has value and a market for exchange.

It is easier to buy a car or dinner with USD than a title deed, but where I live USD is not accepted. Bitcoin is easy to pay with and multi-national. There's your value and why it will replace how we currently trade.

And, how can the average person afford to buy one bitcoin at the price it is?

Get some bits first. You do not have to buy bitcoin in entire units. Bitcoin is divisible down to one-ten-millionth of a bitcoin. In the same way that you do not buy the totality of the land you live on but just a defined part of it.

ADMINS: Can we get some BCH tipping love integrated here? Perhaps get tippr/Rob involved?

[xWolfx]

Hello!

Every currency is valued in comparision to another based on the balance of what the buyer is willing to give and the seller is giving to take, market laws.

I like your second question because my wife asked me the exact same thing. Bitcoin can splitted just like dollars and cents.

With Bitcoin is:
0.01 BTC = 1 cBTC = 1 centibitcoin (also referred to as bitcent)
0.001 BTC = 1 mBTC = 1 millibitcoin (also referred to as mbit (pronounced em-bit) or millibit or even bitmill)
0.000 001 BTC = 1 μBTC = 1 microbitcoin (also referred to as ubit (pronounced yu-bit) or microbit)
0.000 000 01 BTC= 1 sat = 1 satoshi (The lowest possible reference of Bitcoin)
The value of them all is determined by the current market value of Bitcoin.

If you would like to learn more about Bitcoin, i truly recommend this site:
https://99bitcoins.com/

They even have a Vide Crash Course where they will send you one different video everyday for around one week with the basics of Bitcoin.

Have a nice day!

[dumachi88]

Golds better than both

[grabberfish]

Golds better than both

Please describe how:

• Gold is better than bitcoin
• Gold is better than fiat (money)

Simply on the basis of transportation advantages I suggest that bitcoin exceeds the limits of both presented.

[CryptoCZ]

So far, bitcoin can not replace Fiat because it have some problems, such as volatility and etc. But in the future, I think, will find a solution

[handycash]

Golds better than both

Please describe how:

• Gold is better than bitcoin
• Gold is better than fiat (money)

Simply on the basis of transportation advantages I suggest that bitcoin exceeds the limits of both presented.

Yes, indeed, bitcoin provides a better solution to the disadvantages of Fiat money and gold. Since the world is still evolving, we can only expect advancement in technology and science. So, saying that gold is better than Fiat money and Bitcoin is like taking us back to the stone age. Still, in terms of price stability, Gold has its advantage hia.

[CryptoCZ]

Golds better than both

Please describe how:

• Gold is better than bitcoin
• Gold is better than fiat (money)

Simply on the basis of transportation advantages I suggest that bitcoin exceeds the limits of both presented.

Yes, indeed, bitcoin provides a better solution to the disadvantages of Fiat money and gold. Since the world is still evolving, we can only expect advancement in technology and science. So, saying that gold is better than Fiat money and Bitcoin is like taking us back to the stone age. Still, in terms of price stability, Gold has its advantage hia.

I think over time, even solve this problem in favor of cryptocurrency, it's still development and evolution

[haimtolendo]

Hi, I have invested in the bitcoin in the start of January and since than it going down day by day. Recently I saw the increment in the rate but again it is dropping. So, I am here to know that Can I sell my bitcoin now or hold it further.

Thanks!
Haim Toledano

[CryptoCZ]

Hi, I have invested in the bitcoin in the start of January and since than it going down day by day. Recently I saw the increment in the rate but again it is dropping. So, I am here to know that Can I sell my bitcoin now or hold it further.

Thanks!
Haim Toledano

I recommend u hold your bitcoin

[holandw]

Hi haim, I also think you should hold the bitcoin because as you have seen in the December 2017 price of bitcoin were more than $19,000 and according to the cryptocurrency experts till the end of the year 2018 it will be reach the $30,000 or more. So, if anyone else here not have bitcoin hurry and register bitcoin account as soon as possible to buy some bitcoins.

Cheers!

[evonax]

If you want to buy things electronically then you can use Bitcoin. It doesn't matter if you are having a bank account or not you can easily use bitcoins anywhere in the world. But if you want money or you have to withdraw money then you have to have a bank account. If you travel in any country then you must have to convert your currency but in Bitcoin, there is no need for any conversion. You can use it anywhere.

[coinbullionuk]

Bitcoin is a peer-to-peer electronic payment system that operates as an independent currency. ... The constitution of Bitcoin is analysed by comparing the currency to each of these ideal types. It is argued that Bitcoin is commodity money without gold, fiat money without a state, and credit money without debt.

http://www.coinbullion.co.uk

[Geleas]

Bitcoin is going to replace regualr money anyway. Or it will stay in the digital form, because the reguar material money are going to give way quite soon as they'll get outdated.

[Awesome]

Bitcoin is accepted worldwide and you can use it to send or recieve money in any country in the world.

[handycash]

Hi, I have invested in the bitcoin in the start of January and since than it going down day by day. Recently I saw the increment in the rate but again it is dropping. So, I am here to know that Can I sell my bitcoin now or hold it further.

Thanks!
Haim Toledano

It is very difficult to tell whether to hold bitcoin at this stage. Bitcoin surged as a result to market sentiments and less competitions. As a result many people focused and invested in bitcoin, leading to one of the greatest bubbles. Now that many coins with greater advantages have entered the market, bitcoin is no longer the only favorite coin. There is greater chance that bitcoin is here to stay, but the price is very much uncertain.

[martiel]

Golds better than both

Gold is the most stable investment, that’s true. Bitcoin, on the contrary, is very unpredictable, but it also has a great potential for growth. Another problem about Bitcoin is that for now it can’t replace traditional money, but it’s only a matter of time. So, I guess that definition of “the best currency” depends on investors' purposes.

[lynchknot]

Hi, I have invested in the bitcoin in the start of January and since than it going down day by day. Recently I saw the increment in the rate but again it is dropping. So, I am here to know that Can I sell my bitcoin now or hold it further.

Thanks!
Haim Toledano

I'm having the same questions. I am new to this but wanted to get involved. Coinbase was giving $10 in bitcoins for signing up and investing $100 so I did that in December. I bought $150 of Bitcoin and Ethereum to get my feet wet and learn. My $150 is down to $71 now and it's hard to hold on when you see it losing every day. I'm worried they will crash to zero. Good thing my investment is small. Should I buy more since the price is so low compared to December? Buy low, sell high - right?

[Cryptostats]

And, how can the average person afford to buy one bitcoin at the price it is?

As said, you can buy satoshis or fractions of bitcoin.

How can bitcoin be valued on the stock market with traditional money when it is supposed to replace money?

I want to compare with Paypal. It's not supposed to replace money, but it's a payment method like Bitcoin and it's valued.

The key is in the value added to the simple idea of being only money.