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PostPosted: Wed Sep 20, 2017 9:24 am 

Joined: Thu Aug 17, 2017 9:49 am
Posts: 13
Is Bitcoin fully virtual and immaterial?

PostPosted: Wed Sep 20, 2017 9:26 am 

Joined: Wed Sep 13, 2017 6:57 am
Posts: 10
Bitcoins are crypto currency and is an online financial network. It can be termed as virtual but it cannot be termed as immaterial. Bitcoins are collected in Bitcoin wallets, which are virtual wallets. The transaction of Bitcoins, their sending and receiving is done either through wallets, through online banking or through vaults.

Bitcoins and Bitcoin transactions are fully protected by multiple keys and digital signatures. This makes the Bitcoin transactions ultra secured. Bitcoins may be treated as virtual currency but its banking is more secured than many old time banking systems.

Bitcoins is represented by Bitcoin codes. Inclusion of Bitcoin hardware and paper wallets is essential to realize Bitcoins. Contrary to physical form of currency or expensive metal’s intrinsic value, Bitcoins remove all physical limitations for tactile means of value exchange.

Bitcoins may be treated as virtual, may be immaterial currency. But people can buy material stuff with it.

Bitcoin is growing with time. People are innovating business opportunities or investment opportunities with Bitcoin. The rapid growth of Bitcoin may stop suddenly causing many financial disasters. People are making money with Bitcoin mining, running new online or offline businesses, or speculating. These methods are always risky as there is no guarantee of profits in these.
Bitcoins are hard to accept as people are used to material currency since the inception of barter system of exchange. But as time passes, people will bring Bitcoins in day to day use.

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