Topic: Bitcoin - Asset Or Currency? - page 3. (Read 552 times)

Bitcoin will be the base of the cryptocurrency,So the people get into investment.The bitcoin is the new technology and it should be consider by most of the people.Some of friends uses the bitcoin as the complete payment in many of their.Some of the people all around the world with cryptocurrency.They will use the cryptocurrency to pay their own credit and need to

Up until now, the volatility of Bitcoin remains a major hindrance preventing it from becoming the primary currency for day-to-day transactions. People prefer speculating on these price fluctuations, hoping to gain additional profits through buying and selling BTC.

The "pizza guy" and Papa John conducted their transaction without regrets, as Papa John immediately exchanged the BTC received from Hanyecz for fiat currency. It was done at the prevailing exchange rate at that time, and I believe it was fair at the time.

If everyone knew the future, there would be no excitement in seeking surprises. Similarly, Papa John must have been taken aback because he had no idea that Bitcoin would grow to such magnitude as it has today.

basically I really want Bitcoin to function as a currency that is actually good for local and global transactions legally wherever it is. but in reality it is not easy. and even to be honest, so far I have only used Bitcoin as a commodity asset, not as a currency. yes, Bitcoin is an asset for both short and long term investments or assets for trading. the main cause is because Bitcoin itself is not yet legal to use as a guarantee or a means of exchange in this country. and even in most other countries Bitcoin is still illegal and not allowed to be used as legal tender. this is one of the challenges for Bitcoin.

Bitcoin seems to be treated more and more as an asset, less as a currency. But in reality, it's both. There are people and places that treat it more as a currency, and of course one person can both hodl some BTC and use the rest to pay for something (so, use it as a currency). The fees can be too high for on-chain transactions, but there are centralized solutions, and the fees aren't always that bad with on-chain transactions as well. The fee spike doesn't always happen when the price is rising, so there is no direct dependency here.

Bitcoin was created as a currency system. However, any new innovation often changes its course based on the market. Bitcoin is no exception. Even though it was launched as a currency system, it became a great investment asset which has beaten many global benchmarks. So majorly Bitcoin is used as an investment asset to many people.

Also, due to the fluctuations of its value, it makes a bad choice for currency. The price of bitcoin can go to any extent which can make your regret your previous purchases decisions. Just like the pizza guy who could have become a multi billionaire by now.

To be fair, whatever the original purpose of bitcoin was created, today, 99% of market participants see bitcoin as an asset, something speculative to make a profit. But I bet you, many people will deny that fact because they don't want to offend others.
There are many people who accept bitcoin as a payment method for their business, and many are already using bitcoin to pay their bills. But the question is how many people are doing it, and how often do they do it? Or they experiment with it a few times and never repeat it.

That is quitely not correct. When converting Bitcoin to eth, the conversion rate is determined by how much the value is it in fiat currency.

Bitcoin functions as both an asset and a currency. We referred to Bitcoin as an asset since its price is rising, and we are confident that it is a good investment because the price has the potential to double or even triple at any time with a little risk. We can also call Bitcoin a currency because it was first referred to as a cryptocurrency. Bitcoin payment is not yet commonly accepted, but it will be in the future. You can primarily trade with it right now.

It all depends on the angle you're taking it use ror adoption, you can have it as a currency and still as an investment a d a profitable asset, as long as you are using bitcoin in either of these, you have more better advantages because of all forms of asset or currencies, bitcoin is the only digital currency that has a dual application for use unlike the other forms of assets or the flat traditional currencies, there more opportunities with bitcoin.

You are correct that Bitcoin can be viewed as an asset just like a vehicle or any other pricey possession. Similar to selling a car you get a set amount of conventional currency back when you sell bitcoin. It is true that by giving Bitcoin a value much like setting a price for your automobile you may exchange it for other goods or services. In fact the market price of a single Bitcoin coin is currently over $26k and it varies according to supply and demand. Many see Bitcoin as a type of digital gold a kind of safe keeping of value that might one day be useful. Different people have different approaches to investing and some decide to amass Bitcoin as a long term investment.

Then what's the main reason you buy Bitcoin?

Gold and other commodities price aren't that stable, you can check the price and you will see there was a dump during bad economy season. Bitcoin is also similar it's influenced with bad economy season, but there's 4 years cycle where the Bitcoin price will increase.

I believe most of people buy Bitcoin for investment which is a store of value, do you use Bitcoin as a currency?

It can be said that bitcoin is a versatile tool, it can be a currency, an asset, a bank for ourselves… it all depends on how we use it, there is no specific concept about bitcoin. Besides many people using gold as a store of value, there are also some who view gold as jewelry that makes them more glamorous. No one is wrong in this case.

But given bitcoin's volatility, is it suitable for a store of value? I don't think bitcoin is suitable as a store of value, gold would be more suitable for this role. The value of bitcoin is very volatile, using bitcoin to store assets or save is not appropriate and too risky.

Bitcoin can have a high price like now, it's not because there are brokers playing around. But crypto users, especially bitcoin users, continue to increase, therefore making bitcoin prices even higher. In addition, bitcoin also has a cycle, and this cycle is called halving, which usually occurs every four years. That's what I know about the factors that make bitcoin prices higher.
Indeed, that is the fact, that bitcoin is the pioneer of the crypto assets that exist today, therefore bitcoin will always be number one and at the top in the crypto field. All systems that run in the crypto world, such as blockchain, are indeed pioneered by bitcoin, and now many cryptocurrencies have also emerged that follow in bitcoin's footsteps. But cryptocurrencies other than bitcoin are not as good as bitcoin, because there is ownership from the creator, which causes, if you look at it from a negative side, the liquidity of the crypto could be taken by the owner, and the price will drop.
Of course
I, as a bitcoin investor, will certainly be happy when the price of bitcoin continues to soar, because when the price of bitcoin soars, it is characteristic that bitcoin users continue to grow. Even though bitcoin prices are converted to fiat money, I also want to ask you, is that bad?

Because I personally don't really care about that, the most important thing is that bitcoin has become one of the assets that has become an example to many people about a system that is very fair and not centralized. After all, if the bitcoin price is not converted to fiat money, I think if it is converted to other cryptos, I don't think it will be good. Because if bitcoin, in your opinion, is seen as the antithesis of fiat money, then when the price is converted to money, the difference will definitely be more visible.
In my opinion, bitcoin can be called a currency but can also be called an asset, because there is already evidence that bitcoin is used as an asset and also used as a currency and used as a means of payment, for example, like the country of El Salvador.

Bitcoin is a currency or an asset, it has been a topic of debate since many years. Ultimately, it depends on how you perceive it based on your perspective. However, it is largely seen as serving both purposes, as it can be used to buy goods and services like any fiat currency, fluctuates like fiat currencies and commodities. Simultaneously it is considered a store of value and hedge against inflation. In summary the classification of Bitcoin can differ across jurisdiction and the context in which it is being discussed.

Assets and as currency. The use of Bitcoin as an investment asset is because not all countries may use Bitcoin as currency in general in every transaction.

This is the time for those of us who are still very new here and for those who have been using Bitcoin for a long time, of course this is already in the enjoying phase.
Dominated by fiat because the space for movement is still restricted by government regulations so it has to be converted to fiat and in my opinion it won't be a big problem.

Listen to every answer from experienced people.

My understanding of Bitcoin is also very little.

Bitcoin exhibits both the qualities of money and the qualities of being an asset class.

Serving as a medium of exchange makes it a currency, evidence that Bitcoin is a currency is, In El Salvador, Bitcoin is currently a legal tender and the citizens use it to buy and sell almost everything in their country.

As an Asset, bitcoin is an inflation hedge and a store of value, and that makes it save heaven for investors when there is a financial crisis or an economic collapse, and an example of this is during the US banking collapse, investors ran to invest in Bitcoin.

And what are you looking at bitcoins? Currency or will it be an investment that will make you rich? Satoshi created bitcoin with the intention of being a P2P payment method, but with what is happening with bitcoin, it is clear that it is just an asset for speculation, nothing more and nothing less.

Even those who are spreading bitcoin as a currency don't really consider it a currency. I wonder, are they brave enough to buy bitcoin for $50k, and are they willing to spend it when it's at $25k? Are you brave enough to do it? Honestly, given bitcoin's volatility, it's unlikely to become a currency.

At this time I think most of the people have holding aspect in mind rather then spending their coins and not mych merchants accept it although you can find lot if you search for them.But people have seen how holding pays off in the past years due to which they also want same to happen with them and are bullish on it but we should not dilute the concept of btc as payment currency which can really help boost more adoption rate.

There is no way Bitcoin can serve as a global currency in a centralized world, it's more of an asset than a currency, and it would be impossible to imagine it doing so as a global asset. It's not going to happen, but it's perfect as a people's currency. Bitcoin is people's money, and because it is a real decentralized digital currency, the government will never gain control over this beautiful innovation.

Moreover, who needs Bitcoin to become a global currency? None I guess, that's why the power to kill Bitcoin is not in the hands of the government or any law, the future that awaits Bitcoin is massive value as time goes on.

I think you are very confused with Bitcoin. Bitcoin is an asset, just like your car. Once you sell it, it becomes currency. You can also trade Bitcoin or your car for something else you want by stating a price for each of them. Currently, the Bitcoin price is $26k per coin. So in exchange of 1 Bitcoin, someone can give you his car worth $26k. That surely works as a currency, isn't it? It's modern Gold. You stack it up for a better future.

We don't need Bitcoin to be a new global standard to use it as a currency, a mean for transaction, payment and an asset.

It is magic as whenever we have a Bitcoin private key and if it contains an amount of bitcoin, we can use it as a storage of asset and can broadcast a Bitcoin transaction.

We don't have to rely on any government, any local or global standard to move our bitcoin. We only need to choose appropriate fee rate to save transaction fee for ourself as well as get confirmations by miners.