In essence, bitcoin was made with the purpose of being an alternative worldwide currency.
But as currency, bitcoin needs stabilize its price because one of the requirement of currency is having a stable price.
Because of bitcoin price volatility, i think it doesn't have profitable as medium of exchange.
So for now, most people are use bitcoin as an investment.
Topic: Bitcoin is an asset or currency. - page 46. (Read 8562 times)
Yes bitcoin is both an asset and a currency too, it has the potential to serve as both. Basically, it depends on the way you use it, also it depends as per individual needs. I admit it's used more for trade than buying things but just because it's still quite a new thing it will take time before all the merchants world wide start accepting it and it can be used as a currency too. As a community we need to educate people about the benefits they may have by adopting and accepting bitcoins. That's the only way to add more people to bitcoin ecosystem and make it more popular and thus making it successful in serving both as currency and asset in equal proportions.
Bitcoin is considered an asset because you can trade it and you can also use for medium of payment as an currency what it differ from traditional asset because it is a virtual asset you cannot touch it but in functionality it work as an asset. And also a crypto currency because you can buy goods out of it.
Hey
Bitcoins are not a currency for sure because the power that a currency has regarding to that situation bitcoins do hold a very less sector of that, and also its use is limited to many countries or anonymous traders who takes it as a currency because of their own personal reasons.
Bitcoin for sure are an asset because they can be taken as a means of storing money and using it for long term benefits.
I think weather bitcoins are treated as an asset or as some normal currency it all depends upon the user and the person that he is doing the deal with.
Bitcoins are not a currency for sure because the power that a currency has regarding to that situation bitcoins do hold a very less sector of that, and also its use is limited to many countries or anonymous traders who takes it as a currency because of their own personal reasons.
Bitcoin for sure are an asset because they can be taken as a means of storing money and using it for long term benefits.
I think weather bitcoins are treated as an asset or as some normal currency it all depends upon the user and the person that he is doing the deal with.
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 ??
In my opinion, bitcoin is both an asset and a currency. When you start investing on bit coin then it can be considered as an asset. On the other hand, when you use bitcoin to buy online goods or engage on any online transaction, then it can be considered as a currency. I guess, it cannot be considered as a bad thing. It is depend upon you on how you use your bitcoin. and is that necessarily a bad thing ?? and what can we do about it as a community ??
Yes bitcoin is both an asset and a currency too, it has the potential to serve as both. Basically, it depends on the way you use it, also it depends as per individual needs. I admit it's used more for trade than buying things but just because it's still quite a new thing it will take time before all the merchants world wide start accepting it and it can be used as a currency too. As a community we need to educate people about the benefits they may have by adopting and accepting bitcoins. That's the only way to add more people to bitcoin ecosystem and make it more popular and thus making it successful in serving both as currency and asset in equal proportions.
Bitcoin is both and you don't need to try hard to determine which is the suited term for bitcoin because you can use bitcoin as an asset by putting some investment by your own money in the cryptocurrency market and hold them for a little bit long and wait for the price to go up and make some money because of that. Bitcoin is also currency because some of the shops here in my place is already starting to accept bitcoin.
For me bitcoin is both as an asset and also an currency but now the price of bitcoins is increasing very rapidly so I have been treating it as an asset and not as a currency as if I manage to save it for a long term then it can give me best returns on my investments and for currency I have fiat money which can take care of my expenses so right now I don't see any point in using bitcoin as a currency.
Bitcoin is the first cryptocurrency. But bitcoin also can be use for asset.
It's pretty much the perfect asset, an asset allows you to generate wealth. But Bitcoin not only generates wealth it's also very liquid so that you can use it like a currency.
Bitcoin can give investors a sense of security. It's centralized, anonymous. Holding bitcoin is not easy to devalue. This is very popular in most countries because people are worried about the devaluation of their property.
We can treat it both assets and currency because it can be a money into your local country and also an asset if you have a earn on the wallet as for this we can earn btc at Sig camp and can be tradable at local currency
We all know that bitcoin is a digital currency and if we convert it to our local money and if it is in a hingest amount it could be an asset that like other things has a value. Because asset is the things with value.
It's pretty much the perfect asset, an asset allows you to generate wealth. But Bitcoin not only generates wealth it's also very liquid so that you can use it like a currency.
In fact, this is a difficult question - considered bitcoin asset or currency. I personally believe that bitcoin is more an asset than a currency.
Bitcoin can be considered both as a currency and an asset, bitcoin allows a transparent and secure transactions worldwide which is otherwise called the digital currency at the same time bitcoin can act as a commodity like Gold it can be purchased and stored,unlike Gold bitcoins can be transferred easily all over the world many companies see bitcoin as an asset, as a currency bitcoin has more potential in the financial market. Moreover, bitcoin as an asset or a currency bitcoins are volatile. The value of bitcoins increase as time passes and the volatility will be nullified when the prices reach a peak.
In my opinion (almost) all cryptocurrencies are an asset currently. I would like to hear it if there is actually 1 cryptocurrency that is being used as a currency.
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 a currency because it can be used to exchange commodities and to payment online . It can do things that currency can do, why treat it as asset ? and is that necessarily a bad thing ?? and what can we do about it as a community ??
Both. That's the beat answer if no one else recognise that then get back to me. I will be happy to discuss further.
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 a digital currency sought by btc users, and as an asset to keep prices profitable. there is also an use as an investment because not many are familiar with bitcoin as a means of payment.and is that necessarily a bad thing ?? and what can we do about it as a community ??
It is both asset and currency like the other said but you cant' just use bitcoin for everyday usage frequently as the price goes up and down, it is not advisable to use it as a common currency like USD and other fiat ones, It is great to use it as an asset and investment as the btc continues to grow everyday. you will gain such profit if you store enough coins, but don't get me wrong it is still currency not just stable to use it for now.
Yes I agree with you its both you can use it as a currency as well as you can use it as asset because bitcoin is a digital currency you can use it for buying things and also you can keep it for a long time for investment purpose I use bitcoin in both way I am using it for daily expanse and I also keep it go high price when the price go high then I sell it out to get extra money.There no really clear cut definition of what a "Bitcoin" is. Though is initially design by Satoshi is for micro payments using P2P, with no third party. However, as bitcoin price surges, many think of it as a assets because it is being considered not as one of the best assets in the industry. So it you want it to be currency, like converting it to fiat then used it to buy things you want or just hodl and become as assets, its really depend on each individual. You used it depending on what you what. Don't just be confined to the technical aspects of it.
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