Topic: Bitcoin a Commodity, Asset or Currency? (Read 132 times)

Seems to me Bitcoin has morphed from the White papers quaint P2P currency project into an asset and commodity class.

The knowledgeable few on BTC agree it will never be a currency, so now it's a volatile asset that moves on exchanges like a commodity.

The problem with BTC being a commodity is it has no practical use once the future currency bullshit is taken away.

Assets are not prone to volatile swings in value.

Yet commodities swing just like BTC.

So BTC is acting just like all commodities do, which also have supply and demand as it's fuel for value.

Only problem with BTC being a commodity it's a fixed pool of coins. Commodities are often interrupted natural or organic material.

Commodities all have purpose though.

Only thing BTC does well is consume lots of energy.

The only use I see for BTC currently is the crypto exchanges all mistakenly tied their exchanges to BTC.

So all the new crypto coins are valued against something that has no real purpose or value.

The intended purpose of BTC was to be a new digital currency, that use is over.

My definition today of BTC is simple.

It's a broken digital currency project lots of people think has value and those people are usually not too tech literate nor financially successful, it's a toy for wanna be anarchists to rally around and say how they are defying the system through investing in BTC, a system they never fitted into.

I also say it is a classic example of mass delusional thinking like religion only for the weak minded.