asked in Business+Finance by (48 points) 1 5
A gigantic number of people using bitcoin, some loose money, some make a lot of money. To me, it's real shadow.
replied by Patron (1,912 points) 2 6 14
Whether it is money or illusion, there is lot of hype behind it.
replied by LEGEND (6,077 points) 6 9 22
Bitcoin is beyond illusion. It's real. People mining bitcoin and those investing in it are starkly rich. You just don't disdain something because you don't have idea on it works. Agreeably, I know there a lot of hype surrounding it, but in spite of that, bitcoin is generating huge of money for those that are into it.

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5 Answers

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answered by LEGEND (6,007 points) 5 9 19
I like the term you used, "real shadow." Bitcoin is not an illusion in my opinion. As we know, it is a virtual currency that can be exchanged for other currencies, goods and services. If you can carry out feasible transactions with it, then you know it is as real as possible. The down part of it is its uncertainty since it isn't centralized and it is independent with no legal backing.

I have Purchased bitcoins with the dollars, sold them and I have also used them for goods and services. This integration that the coin has with other paper currency is what keeps it real. It is increasingly becoming popular and accepted all around the world. You can even shop online these days with bitcoins. The people that lose from it mostly engage in risky investments.
replied by (389 points) 1 8
Bitcoin is not illusion and some of the crypto currencies like Ethereum, Ripple, Bitcoin Cash are also not illusion. However, I believe out of 1800 crypto currency we have today, only 1 or 2 percent will survive.
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answered by LEGEND (6,078 points) 2 10 28
I am not sure of the exact answer but I have earned a little with crypto currency. When it was started in my country, every one was aggressive and forcing to learn how to earn from it. It is a digital money, that is what I really know. I benefit on earnings by joining free sites that I will be mining satoshi, let it grow, meet the minimum and withdraw.  I put it on a coin wallet and I used the earnings for mobile load. I had been earning from it. I even joined Steemit, a blogging site that pays you with cryptocurrencies. I got my earnings this year. I think it is true we can earn, but the real earner are those who are earning from investment. There are people who let their balance sleep until the value is increase, they will withdraw their money. I do it too but at present I stop earnings from it.
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answered by LEGEND (6,391 points) 5 10 21
Bitcoin is real money and people and make good cash out of it through investments. I personally am totally confused with the whole conversion fro bitcoin to PayPal cash but what I know is that its so expensive. When I used to work with bitcoin last year, I used to trade and someone would send me dollar cash and I send them bitcoin and vice versa when I wanted bitcoin. Especially last year, a lot of people praised bitcoin so much and everyone was talking of bitcoin and several sites adapted bitcoin as one of the payment processor.

According to me I'll just second you that bitcoin is just a shadow of currency. Especially since its value started dropping tremendously from $20k to $6k as we're speaking currently people started losing morale investing in bitcoin. No one knows the future all we have is to watch as the game unfolds and maybe it will shoot to where it was once at $20.
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answered by VISIONARY (9,003 points) 6 10 19
Bitcoin is real money and just like the Fiat money we have if we don't handle it well it becomes an illusion. Trading or investing in Bitcoin is just like investing in any other areas and one needs thorough research to know when to invest and when not to.

Diving in to start making money with Bitcoin without making necessary research will seem an illusion when huge amount is lost in the process.So to avoid any mistake it better one seek out the ways of getting Bitcoin in a legit way without risking ones money and then getting nothing in return.

For the mere fact Bitcoin can be used for buying,exchanging and receiving as Money, makes it no illusion at all.
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answered by ELITE (3,008 points) 2 6 13
Bitcoin is a digital currency used for online transactions by very few individuals. It is obtained through mining. Bitcoin does not have a stable value,  it could rise and fall at any time,  this gives the investor the opportunity to invest when there prices are low and exchange to their local currencies when the prices are high.
There are few countries that currently accept bitcoin legally for transactions the countries that I am sure of are USA and Philippines. There some online stores that accept it for purchases.
The advent of bitcoin and altcoins has enriched some people forever while it has also failed some people.  The fame of bitcoin is increasing on daily basis. Based on my experience with bitcoin I can authoritatively say bitcoin is not a paper money,  it not an illusion and it real.

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