Bitcoin is an asset or currency. - page 40.

Lomberjack

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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 usage can vary from where it was used so it can be typically coined as asset or a currency. It is an asset and treated to be an asset as you say so because it was used for investment and trading to come up on having large profit to be gained on investing into bitcoin which is the main aim of every user upon using bitcoin to trade and invest. It can be a currency in a sense that it is the virtual money which is the innovation of the fiat or real money which is easy to use on availing online products and services which is also easy to be access since you do not have to encode number codes that needs credit or ATM card to avail because you can directly pay it in terms of using virtual money instead of natural money.

Spaffin

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In any case, bitcoin can be considered a financial asset. It has all the signs of a financial asset. But whether it is simultaneously a currency, there is a problem. To the existing concept of currency, crypto currency is not suitable. However, when the impact of the crypto currency on the world economy will increase even more, it is possible that this concept will be changed and then the crypto currency will take a worthy rightful place among the recognized currencies of the world.

cybersofts

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Quote from: Shenzou on October 17, 2017, 02:56:10 PM

Originally bitcoin was supposed to be a currency that will change the way we use money online, a faster way to make transactions and a safe system that will prevent hacking bank accounts, we all were ok with this idea, but since the bitcoin had a limited source and since people were mining it like crazy, it got harder to mine and thus required more hardware and more power which made its price increase, all of this lead to people comparing it to gold collecting it and saving it, and with this bitcoin has shifted from being just a cryptocurrency to becoming a revolutionary assets that made everyone rush into investing in it, and by this the world is stating to relive the 1849 gold rush but in the digital form.

Bitcoin is both digital currency and an asset. Bitcoin was originally invented as a peer to peer electronic currency. Due to the high demand of bitcoin, the value of bitcoin started growing in an exponential rate and before you know people everywhere in the world started buying bitcoins as an asset to sell later for profits when the value increases. Bitcoin is getting more popular everyday because people are buying bitcoins and selling for profits a very good one, indeed!

MordorMurphy

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Because of bitcoin some books will be written again

romeitaly

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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 ??

There are similar threads that answers this question like this:

https://bitcointalksearch.org/topic/is-bitcoin-a-currency-or-asset-2099175

In there you can check more information if bitcoin is an asset or currency. As for me, from what I have read in different things about bitcoin, it is a currency like what we call cryptocurrencies. You can do anything with it: trade, mine, invest, and you can also earn some. We can say that it is a currency in the internet where people around the world can use it.

Jgatsby

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Pretty kewl right?

Regarding your question if Bitcoin is an asset or currency, the answer is both. There are some countries who considers BTC as an asset-like property, while currency in others, it all depends upon your jurisdiction. you can try searching for it online if what countries considers BTC as an asset or currency.

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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 ??

I think it is technically a currency. Bitcoin is a digital currency as well as other cryptocurrency. It is already used and legal to some countries but is only limited to those. There are still countries where it is not yet even known. But if it will be legal to most countries in the future, it will totally be a currency.

xBitHodler

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For now, I treat Bitcoin as a long term investment. I also see it as a currency. It is still not capable of processing a huge amount of transactions but we are on a good track. We have already introduced SegWit which helped to decrease the price of transactions and the time needed for confirmation. We still got plenty of time, people are slowly getting used to the idea of cryptocurrencies.

brickafterbrickwalldpt

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Both. Bitcoin is an asset, a commodity that can be used to achieve something and a currency, something you can pay with provided the seller accepts bitcoin, or you can trade your stock for normal money, which is also great. It's an attractive option for investors and more likely small time market pundits. It's borderless by how much you can achieve with it, and it's also not as common as normal currency, there are much less bitcoins than per say US dollars, a lot less, which makes them scarce and humans know that they like rare commodities that are worth lots.

BITDV

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Quote from: BillyBobZorton on October 17, 2017, 12:03:51 PM

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 ??

It's simply both.

Bitcoin is attractive as an asset to hold because of it's scarce nature. Bitcoin is also attractive as a currency because it's borderless, permissionless, and pretty fast and cheap (except when Roger Ver/Bitmain are spamming it).

So for some use cases like buying a VPN, bitcoin is the best currency.

You’re right, but bitcoin is not an unlimited currency because it only has 21 million BTC of stock spreaded over the world, unlike US dollar which have unlimited stock and have spreaded in many countries and becomes international currency.
bitcoin is an interesting currency because it allows us to transfer it to other countries without tax like fiat.

EddyGameta

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bitcoin can also be called as the currency of digital world (online), because so many people are using bitcoin as a payment tool for college expense in america, Cheapair’s travel payment in california and many more.
bitcoin can also be a good investment for a long-term because it has a very remarkable rate of return but also very risky.
bitcoin can be called as a registered currency if many countries have legalize and accept it

Kray

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bitcoin can’t be called as an asset yet, because asset can make money from the company, for now it’s only a digital money used online in transaction, and it can also be an investment in the online world.

BitcoinBallerina

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Bitcoin is an asset and a currency. It's an asset because you can save with it and invest it, but it's a currency as well because you can transact with it and use it as traditional $

cexylikepie

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Quote from: taxmanmt5 on October 22, 2017, 12:14:13 PM

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 is both an asset and currency. Like what money is, it is both currency and asset. Because bitcoin as it grow my asset keeps growing too, but when I use it and convert it to fiat then it turns to money and currency.
I think you are trying to say Bitcoin is a currency or commodity ?

It is a currency and it is also an asset at now. You can use Bitcoin as an asset when you invest in Bitcoin and hold it or trading like Gold. Of course, the risk of Bitcoin also like other fields, even it has more risk than other markets is possible by its nature and community still not stability. And about currency, you can use it to pay anything online, as long as it can get accept or not Grin

Crytpozer0

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None of both now for the fully 100%, it will be acurrency in the near future, especially if Amazon starts to accept btc as a payment, after that it will be seen as an asset and the money will flow in till bitcoin reaches unimaginable all time highs.

BunnyShibe

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Quote from: taxmanmt5 on October 22, 2017, 12:14:13 PM

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 is both an asset and currency. Like what money is, it is both currency and asset. Because bitcoin as it grow my asset keeps growing too, but when I use it and convert it to fiat then it turns to money and currency.
I think you are trying to say Bitcoin is a currency or commodity ?

The amount of money we have is our assets, Bitcoin is a currency which we can sue for shopping directly without changing it into any other currency just like money that we use for shopping in shops, Bitcoin is a digital currency and in current time we are using it mostly for online purposes, There I think we can consider it is as our assets. I think very soon we will even start using bitcoin for buying and selling thing and for so may other types of dealing in our day life.

Greenkarki

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Its used as both. As long as the money is needed for expense, its used as currency. When you have enough money and want to asset for future, save the bitcoins for future as an asset.

mahibul49

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bitcoin is both..a currency and an asset

you can see the chart of btc price so you will get it

Christian13

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Quote from: Berk on October 17, 2017, 12:05:33 PM

It's still a currency. An asset generates money without any other investment. Although that could be provided by the increase of bitcoin I don't think it passively earns you more. So it's an investment rather than a asset

You can simply says that bitcoin is a currency because you can exchange it in many stuffs like online games and many more. In addition to that, for me I prefer to use it as investment and I do believe that bitcoin is a good investment for long term and I know if you prefer use it as investment you can assure that your money will become double or triple.

Raihan050

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I prefer both of. But firstly Bitcoin is a online currency than secondly in our daily live it's an asset for us.

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