Bitcoin is an asset or currency. - page 2.

Mr.John19

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Quote from: Dertcoin on April 11, 2018, 10:55:30 AM

Once bitcoin is actually accepted by more retailers, then it will be used more like a currency instead of just an asset

That is right. Bitcoin was the best digital currency for payment the most part in the online store. Also, the best cryptocurrency of all and this is the best coin to hold for a long year. We can consider that bitcoin can be assent or currency of everyone. This one motivation behind why I like utilizing the bitcoin due to the ability to switch it. Bitcoin is an entire bundle for everybody.

swetka

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Quote from: bncbnc on April 13, 2018, 03:11:24 PM

Quote from: Grayy on April 12, 2018, 12:53:05 PM

Simply bitcoin is a currency because it is a means of exchanging goods and services between some of its holders, and thus it is a legal tender in some jurisdictions. On the other hand, bitcoin is an asset because it has the capability of increasing one's wealth, and it can be kept over time for the purpose of making profitsm

Bitcoin is created as currency, but we can also use it as assets, in fact in current time when bitcoin is not as such popular and its use is still restricted therefore most of the people are using bitcoin as for investment and trading purposes, but in future i think that when bitcoin will become more common then people will even start using bitcoin as currency and specially for shopping online.

for today, there are such online stores, then she is offered to buy their goods for Bitcoin. This, of course, greatly facilitates the procedure for users of crypto currency.

bncbnc

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Quote from: Grayy on April 12, 2018, 12:53:05 PM

Simply bitcoin is a currency because it is a means of exchanging goods and services between some of its holders, and thus it is a legal tender in some jurisdictions. On the other hand, bitcoin is an asset because it has the capability of increasing one's wealth, and it can be kept over time for the purpose of making profitsm

Bitcoin is created as currency, but we can also use it as assets, in fact in current time when bitcoin is not as such popular and its use is still restricted therefore most of the people are using bitcoin as for investment and trading purposes, but in future i think that when bitcoin will become more common then people will even start using bitcoin as currency and specially for shopping online.

renggileh

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Although bitcoin is created as a digital currency but because of the functionality and specialty of this bitcoin can certainly turn it into the most valuable commodity so almost everyone in the world is working hard to be able to get bitcoin with their various efforts. certainly a way that doesn't harm others.

thecodebear

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Bitcoin is a currency that appreciates like an asset. So it can be used as either. In USA, a major problem is the government sees it as an asset, so you have to pay taxes on profits when you use it as a currency. I don't know whats going to happen with that, if the US government wants to promote the future of payments they need to change its tax qualification, at the very least they need to say if you use it as a currency to buy something then you don't pay taxes, though who knows if that'll ever actually happen.

Right now Bitcoin isn't useful as a currency at a mass scale. But LN will go a long way to fix that. But there will need to be other major technological advances for bitcoin for it to become a globally useful currency. The simplest way would be LN + other stuff they are working on to reduce transaction size + block size increase.

Bitcoin as a currency is entirely dependent on technical advances to the bitcoin blockchain.

tommisetiyawan

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Bitcoin is a digital currency but it can also be your asset at the same time as your coin value keeps growing and what makes bitcoin good for long term investment. Everyone invests in bitcoin because of its currency. I think there's a time that bitcoin can be used as a currency where you can use it to buy some stuff you want or need and can sometimes be used as an asset in which you can make money. Lastly, I think you can use currency and assets and it will depend on you how you use them.

Quraline

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Good question. Of course, more bitcoin is a speculative asset. How often do you buy food for bitcoins?

dyablo

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Quote from: YaChou on October 17, 2017, 11:52:55 AM

I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??

Bitcoin can be an asset and a currency. Bitcoin can be an asset when you earn profit by just holding it and a currency if you use it to buy/purchase a product or services.

Sum24

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Quote from: Darwinie on April 11, 2018, 10:49:15 AM

Quote from: YaChou on October 17, 2017, 11:52:55 AM

I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??

Certainly its not a currency for tmwhen you search that word it will only means a system of money used on a particular country. For me Bitcoin is an Asset specially if you earn it with no means of exchanging your personal money. But if thats the case well it will fall into Liabilities.

You are right too that money is better to invest in bitcoin if you have, bitcoin is good for saving for the long time don’t sell your bitcoin when the bitcoin price is low, to me bitcoin is possible to see the future currency and when almost everyone will use bitcoin as currency as now already it is happening everywhere, specially bitcoin is being use in Japan and Philippines, but if you don’t have the facility to use bitcoin as currency, for you the best option will be to save as an asset for the long time.

Grayy

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Simply bitcoin is a currency because it is a means of exchanging goods and services between some of its holders, and thus it is a legal tender in some jurisdictions. On the other hand, bitcoin is an asset because it has the capability of increasing one's wealth, and it can be kept over time for the purpose of making profitsm

imking

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Quote from: YaChou on October 17, 2017, 11:52:55 AM

I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??

The bitcoin can be asset and currency; it depends how you use the bitcoin for long investment or for earning fiat. If you use the bitcoin on the investment and you hold it as long, you have never convert it into fiat that is an asset. If you convert to fiat or even you use the bitcoin to paying your bills that is currency. Whatever happened bitcoin is both asset and currency.

Stac

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Bitcoins can be considered both as a digital currency as well as an asset as it is a good investment asset. Bitcoins can be used to transact world wide as a currency without approaching a third party situation like the banks for transferring currencies and with low transaction fees. At the same time the price of bitcoins increases every year which makes people to believe that it is a good investment option as many early investors of bitcoins are millionaire's of today. Last year the price of bitcoins have reached around $ 19000 USD. Many great investors are of the opinion that the price of bitcoins will shoot upto $ 50000 by this year ending.

kkaroul4

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if to your knowledge me bitcoin is arguably the currency, because most in some bitcoin countries that have been used as a means of payment as in japan. and bitcoin is also born as a digital currency that can be used as an asset

xnuggets

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Both. Bitcoin is an asset for you because you hold it accdg to your account, also it is scarce in nature.
It is a currency because it is less-permission, fast, and circulated in an economy, globally to be exact.

geegaw

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Quote from: Sled on April 11, 2018, 10:03:51 AM

If we will based right now, it is just an asset because bitcoin is just an asset since it is just helping the people to grow their money based on the supply and demand in the market and people are not using it to buy anything like in the malls because of the expensive fee and that is the reason for bitcoin to not become a currency but in the future who knows, maybe bitcoin might become a currency and get accepted.

With the instability of Bitcoin, in future, currency is still an impossible thing because people will know that using it as currency will be an unnecessary waste, hold it as an asset would be more appropriate when the value increased mutation. In addition, this world is growing so fast, many people use bitcoin to go scam to others and the government is difficult to manage, most governments have acted with bitcoin as bans on spreading, calling capital for ico, do not use bitcoin in direct transactions, this helps limit people not to use bitcoin as currency

Alpinat

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It is not a bad thing. The people are actually just using their mind in using bitcoin, imagine you already send your funds or money in someone and you have an extra funds in your wallet. Instead of keeping it you can trade it so that you can retrieve your money.

Dertcoin

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Once bitcoin is actually accepted by more retailers, then it will be used more like a currency instead of just an asset

Darwinie

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Quote from: YaChou on October 17, 2017, 11:52:55 AM

I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??

Certainly its not a currency for tmwhen you search that word it will only means a system of money used on a particular country. For me Bitcoin is an Asset specially if you earn it with no means of exchanging your personal money. But if thats the case well it will fall into Liabilities.

HellDiverUK

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for now I agree if bitcoin is said to be a digital asset not as a currency. because bitcoin itself does not have the properties to be a money. Nowadays, many countries are refusing when btc a money

Opekin

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Quote from: Sled on April 11, 2018, 10:03:51 AM

If we will based right now, it is just an asset because bitcoin is just an asset since it is just helping the people to grow their money based on the supply and demand in the market and people are not using it to buy anything like in the malls because of the expensive fee and that is the reason for bitcoin to not become a currency but in the future who knows, maybe bitcoin might become a currency and get accepted.

I think you're right because we still don't use it as a medium of exchange so it will not be called as currency. But i know more years to come and it will be a currency for most of us since many establishments and company now are moving into and opening up in using blockchains.

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