Topic: Bitcoin IS an asset. Do you think it's bad? (Read 722 times)

Yes, that's my point. It's obvious that government will do anything to spot bitcoin from becoming a currency. That's why they can even use this trend to say "yes guys, bitcoin is an asset and you can trade it, but we will tax it. But you won't use it as a currency". And it looks like the majority of people will be happy with that because everyone just ignores bitcoin being a currency.

That's why it's literally our fight against governments at this point and out community should protect bitcoin at all costs. But right now I don't really see that people care that bitcoin is in danger.

You need to know one thing that the government is behind running the banks and if people are slowly turning to bitcoin and giving up banking. What would make you think the government will legalize bitcoin more in the future when it harms them more? I'm a bitcoin investor and love it, but the reality is the banks in the US are in turmoil, but the world banking industry is fine right now, and people continue to believe in it.
One more thing bitcoin is a better alternative than spreading it will be a replacement for the bank, war with the banks or government has never been in our favor.
As for El Salvador, I'm not saying they failed, but we haven't seen them grow since accepting bitcoin as legal tender, and they're just a small country, nobody will care, and they don't affect the world economy.

Currently people have gained a good knowledge about Bitcoin and if this trend continues in the future Bitcoin will be able to overtake any other financial institutions. As of lately Bitcoin has occupied a positive place in the whole world. Many people in the world now think Bitcoin as a bank. Confidence in the banking sector is falling while rising in Bitcoin. People are slowly getting educated and moving forward in Bitcoin education. I believe Bitcoin will be officially legalized in many countries in the next few years. We are already seeing how El Salvador is moving forward with Bitcoin legalization. Bitcoin is playing a big role for the development of that country. Many people may not have known this country before, but now they are dreaming of building big companies in this country. Its essence is to provide sufficient facilities in all matters, by having only positive trust in Bitcoin.

But bitcoin is not responsible for toppling banks, and do you think the government will allow that to happen? As long as they feel bitcoin really harms the bank, we won't see bitcoin any more soon. Don't think bitcoin is decentralized they can't do anything, they can erase the whole earth if they want, then bitcoin is nothing to them. But bitcoin was not created to replace or destroy banks, it is an alternative, and they have the right to accept it or not.

Bitcoin developers has provided a solution for the high fees and the small transaction issues. You can send Bitcoin using the lightening network and it'll be confirmed very fast, with the lightening network you can buy your coffee and not be worried about paying high fees for the transaction to be confirmed. Lightening network has been around for some time now but hasn't received much adoption yet.

If we can increase the adoption of lightening network by most business then we can achieve full adoption of Bitcoin without having to worry about high fees and slow confirmation rate and with this Bitcoin can be used as more of a currency but it'll always be an asset.

That is the problem. It can't overthrow banks if we just see it as an asset because people won't use it like people use banking system.

yes, bitcoin is a great asset. But to overthrow the current banks like Fee is a big problem

It depends on how we see it individually. It could be good and profitable for others while some only see it as full of risk and disappointments. But if you are highly knowledgeable and has lot of experiences in crypto, you will know and realized that bitcoin as an asset brings a lot of potentials and positivity in life. And it could give us a breakthrough and create life changing decisions in our life once we are motivated with bitcoin.

Bitcoin is an asset. It is also a currency. We should see it as both. For now, Bitcoin is too volatile to be a currency. Even now with the high network fee, it is almost impossible to use Bitcoin as a means of payment for relatively small transactions. It's too unstable for now. But saying it will never be stable enough is what I don't agree with. Bitcoin will get stable with more adoption. 
Bitcoin constantly fluctuating is not a bad thing, every single fiat fluctuates. It's volatility that is the problem.

But how our community sees bitcoins' future then?

If it's an asset, it can't become the currency that will be used by many people.
If it's a currency, then why do we okay with everyone trading it like crazy causing these fluctuations?

I understand that everyone is using Bitcoin how they want to, I'm okay with that, but what is the idea of Bitcoin right now?
Is it a way to get rich quickly or is it a technology to break free from the government?

From what I see, people see and treat it like the asses while government trying to find a way to take away bitcoins features from us with all these KYC and regulations.

It looks like we want to kill two birds with one stone and I don't think it's gonna work.

Bitcoin is an asset. I wouldn't consider it bad at all. Because Bitcoin is a trusted, convenient and profitable cryptocurrency. Bitcoin has now become the best asset in the highest demand for everyone. Bitcoin price has become the highest valued coin in the entire crypto currency world. This proves how worthy Bitcoin is. Since Bitcoin has a peer-to-peer system, every Bitcoiner is the true owner of their Bitcoin. Their wealth will remain with them. Money will be received by the person you want to send money to very safely and quickly without the need of any third party. All Bitcoin processing takes place in a highly secure manner. As a result, there is no possibility of fraud in Bitcoin. And for these reasons Bitcoin is an asset. I would never consider it a bad thing.

Dear Op, i think you have taken the wrong idea about the BTC origin. Because back in 2008 there was a financial crisis all over the world and people who have stored their money in valuable assets at that time has lost there value and inflation was high. Why? All of that happens because the centralized authorities were unable to fulfill their promises and ** up.

i don't know if you are a Millennial or Gen-Z, but you must read about BTC origin so that you have the right idea about BTC and why it was made.

Yes, BTC was there to give people both Financial freedom and freedom from the Banking crisis so that next time when things go south, it can be dealt with BTC. Currently, there is a situation that has created a fud that another banking crisis is going to come, and many of the top-ranking banks have been bankrupted which has caused other regional banks to bankrupt. The US is facing many issues like the Debt ceiling, and the inflation of the US dollar. despite of these, there is still a fear of a banking crisis which will again make people's assets value-less. That's why many of the BTC enthusiasts and financial figures have adopted BTC and accumulated it to store their money. You might have heard that Validus Power corp has declared BTC as n hard assets -->[NEWS] Bitcoin Provides Insurance Against Fiat Currency Failure

which indicates that taking BTC only as technology is not worth it but getting financial freedom by earning from it is worth more. Many Gen-Z has managed to become a millionaire in there early age. Why? That does not matter why the thing that matters is BTC has provided a way for poor ones to become rich a second chance so that they can also grow and keep up their pace according to the high prices. So overall, BTC is an asset and considering it one is not a bad idea.

Bitcoin been treated as an asset isn't bad, Bitcoin has helped lots of individual ti get financial freedom and only assets can do that as they give you a good return of investment when you invest in them just as Bitcoin is doing. Bitcoin is also a technology and it's growing steadily on that areasl as well but it's just that Bitcoin been an assets is what is making it popular.

When people invest in Bitcoin, they can learn other things that bitcoin can be used for example, having an anonymous transaction without been traced. We have other benefits like having a faster and heaper transaction but the high transaction fees is now a problem.

A growing number of people are interested in investing in Bitcoin, a virtual currency. I believe that Bitcoin is an asset that will continue to be valuable in the future. Because Bitcoin has a promising future, investors use it as an asset. In the modern world, many people possess virtual currencies, and most institutions maintain money in their vaults. Since Bitcoin will become an asset, I believe it is preferable to invest in it than to keep it in the bank. Additionally, investing in Bitcoin gives people much more independence than doing so with banks. Therefore, in my opinion, Bitcoin is similar to an asset and will eventually reflect life.

Some people see Bitcoin as a currency, and we are all ok about it.
Some people see Bitcoin as an asset, and we are all ok about it.
Some people see Bitcoin as a scam coin, and we are all ok about it.
Some people see Bitcoin as a new technology, and we are ok about it.

I guess people are ok in whatever the way Bitcoin be treated with. People look Bitcoin as an asset, and we are all ok with it, and in fact there are some like me who see it as both an asset, and a currency. People treat it as an asset that's why people are gaining from it, and at the same time, they treat as a currency that's why we're seeing more and more establishments accepting Bitcoin as another mode of payment.

Bitcoin goes flat, people hate it. Bitcoin become volatile, people hate it. Some people will complain no matter what. Bitcoin don't care. The network will work tomorrow just like it did yesterday. That's the most important thing that matters. You may get rich from bitcoin. Some people lost a great deal of money too. We don't usually hear about them.

You don't necessarily have to choose the investment play (otr the tech) over the other. You can always do both.

Lots of businesses accept bitcoin as a form of payment and some of them don't even hold any crypto. They immediately dump their coins for the USD. Can you say these people aren't using crypto or not benefiting from it?

As long as there is value in crypto currencies they are assets and not only technology. The technology behind cryptos is what lead to them become assets in the first place. One Bitcoin is limited in supply and you know exactly how much you own in your wallet and that there can't be millions more discovered overnight, that is why it's an asset. People are willing to pay fiat money for it as they see the long term value behind it. Everything that can be traded freely on an exchange by millions of people can be affected by a hype, which shouldn’t be a big concerned for the long term investor. We all know that crypto currencies like most other assets move in cycles, which also means that a hype is not going to be permanent and will eventually be reverted. The best thing we as investors can do is not focus on the short term price swings and stick to the long term positive trend.

I think at the start the people who doubted it had no idea how it worked that's why. You can't just share information and how it works in a single day, so of course it took a while and now there are a lot more people who are supporting it and I think there are a lot of people who love it as well. I understand that some people are doubting it even today, but we can agree that there are a lot less people who doubt it and that is why it is important to remember that it is not going to be that much clear.

I believe that we can't really have a ton of people in the future who will doubt it, we just won't and it is going to be a lot more people who understand the benefits of it and they will all be able to focus on what they can do and how much they can improve.

It's truly remarkable to think that Satoshi never anticipated the incredible heights Bitcoin would reach, particularly in terms of its price. Satoshi's original intention was to establish a decentralized system for borderless transactions, free from the control of intermediaries. However, Bitcoin has evolved far beyond those initial goals. Today, we predominantly view Bitcoin as an investment asset. Nevertheless, this shift isn't necessarily negative, as Bitcoin continues to fulfill its intended purpose. The cryptocurrency has gained immense popularity thanks to its volatility, and its limited supply ensures that stability is no longer a feasible expectation.

This is very cool! I like to see people who use Bitcoin how it should be used. Everyone is starting to forget why it was created and everyone already sees it as an asset.
But the problem is, right now bitcoin is not the best currency to use. Unfortunately, as I said earlier, bitcoin is more volatile than USD and EUR so for people it's better to use fiat to pay for everyday stuff because with it you are not risking losing 2-3% of your savings in 1 hour.
How do you deal with it? Do you hold some of your money in bitcoin in order to buy something or you hold all your savings in it?