Topic: Bitcoin is asset, not currency. (Read 674 times)

I guess so. Still, the thing that qualifies bitcoin as a currency is the fact that it can be used to buy things, which are online of course. I think an asset can be traded or sold, but not used to buy things that are for sale and not for trade. This is why for me, I still consider bitcoin more of a currency rather than an asset.

Definitely, it is an assets but as with that bitcoin is a currency.
If you have number of BTC then it means that you have some strong number of money and you have store it then it means you have a strong asset. So it depend on each person sense that how he is taking BTC. In real BTC is a currency.

.           So bitcoin for me is both a currency  and an asset. Bitcoin as currency is known through internet as digital currency in which you can transfer easily to one another through out the world much cheaper and quickly without any extra charges. A digital currency that they can use to buy something from it through online businesses, remittances and exchange trading. On the other hand bitcoin could be an asset also. You just convert  or invest your cash into bitcoin just to protect it  from any government rules and other charges. It could be an asset for its value is getting higher.

Defining what it is, is just formality because they cant regulate it if they dont recognize it.
It's worth mentioning that bitcoin is made as an alternative to modern day banking. The problem with banks is that they're centralized
and they hold all the power. They single-handedly crashed the economy through shady housing loans. Bitcoin was intended to be used as
the currency of the internet but because of its scalability problem causing slow transactions. It's impossible to use it as everyday money for everyday transactions.

In a simplest explanation, If you see bitcoin as an asset you don't prefer using it as a form of payment but more like a thing which you keep because its value is ever increasing. Bitcoin have become popular all over the world and widely as a form of payment. Bitcoin is really meant to be use as a form of payment to make it circulate in the market. But because its demand is rising its wiser to see it as an asset than a currency.

Bitcoin is not considered as currency because it does not yet serving tge real feature of a currency, it might be a payment but its is not yet accepted by majority and there is no legal recognition from the government.

Yes, I also tend to think that it has futures of both of them.

Bitcoin has different definition depending on the peoples perspective but in my own opinion, bitcoins should be treat as a currency because we can buy goods through cryptocurrency. The only reason i think why they treat btc as an asset is because, governments are afraid that cashless country will be implemented and they will having a hard time to steal money from different people.

It is a currency generally because anything that uses for paying some goods or services can be treated as a currency because it is used as way of buying or selling things. Someone who is holding bitcoin and is happy to have it's an asset for him, such as antiques, So I think that this will not make much difference compared to the present.

Bitcoin is an asset and also serve as currency, so far it is sometimes use for exchange of good things across the world, I remember a university accepting coin as tuition fees, so therefore, its also a currency.

Bitcoin is not a currency because it is an asset. Asset because it gives profit or income to people in time. As said by Wikipedia An asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset while a currency is a system of money (monetary units) in common use, especially in a nation(Wikipedia). From these words I think it is enough that it is more of an asset than a currency.

For me I think bitcoin really is an asset because most people who do bitcoin uses it for trading or investing not to buy goods.

That's because people are using Bitcoin as Asset and the scope of using Bitcoin is kinda limited due to high transaction fees and time, as several platforms are trying to make the faster and minimize the transaction fees, I guess bitcoin will return to its true destiny soon - as a currency.

Everyone has his own opinion and this time I'm consider bitcoin as an asset not currency. In my country the Government not allowed bitcoin for use as a means of payment, our Government is very sensitive with this problem, they fear bitcoin will disrupt the circulation of fiat money, so I mostly use the bitcoin as investments.

It's atleast better than banning crypto.

No. If the country's regulation want to see it that way then that's theirs to call. But whatever is an asset appreciates in value and so can be exchanged for liquid cash more or les.

Interesting, I think you're right its both asset and currency. Actually bitcoin is a currency but some people consider it as asset which is right too. We cant blame them for treating bitcoin as asset, let them be because thats the way they look at it and there is no problem at all.
But i have read an article that says bitcoin really is asset. Because Bitcoin's price is unstable, they say that it cannot be a currency.
"Is Bitcoin the currency of the future? No. There are two big problems with bitcoin as a currency: its value is unstable and its transaction processing is too slow." From www.Forbes.com you can check the article here https://www.forbes.com/sites/jeffreydorfman/2017/05/17/bitcoin-is-an-asset-not-a-currency/amp/

Money is invested in asset with the objective of gaining profits as a result of price rise and earn money with the appreciation of it.  Most of the people are investing in bitcoin with this purpose because they expect that rise in the prices of bitcoin will as a result earn profits for them.  If someone keeps currency notes with him we can not expect that after few years or months we will gain something but opposite to it we will loss a part of value of money due to inflation i.e. rise in the price of goods; commodities and  services which we can buy presently with a certain amount of currency notes but after period of time say one year due to inflation the prices of all the commodities mostly will rise and we will be able to buy lesser quantity of commodities than we can purchase today.  So if we compare bitcoin and currency with above point; we may say that bitcoin is asset not currency.

But it is not true; in addition to the bitcoin being an asset it is also currency because many people are making and  receiving payments by bitcoin.  They are buying or selling goods and in exchange as a value of commodities bought or purchased they are accepting bitcoin as currency.   So we can say bitcoin is both an asset as well as currency; but it is also true that most of the people presently will not accept bitcoin as currency because of their ignorance; lack of knowledge.  

   They call it like that cause it is how they plan to regulate it. Asset is
one thing, but if they allow Bitcoin to be currency in their state they will
have a lot of problems in the beginning.
   Bitcoin needs to squeeze out traditional currencies and that will not be
easy task. Powerful people control the world with money, and they will not
give that power to other people without a fight.
   Now Bitcoin is an asset, tomorrow it is a currency. It is how things are
going, changing shapes from one to another as we grow.

I think that the most important thing about a classification of bitcoin by a government is that it leads to the way how bitcoin will be taxed by that nation.
Assets and currencies are often taxed in different ways.
When I look at the definition of currency as a medium of exchange, I believe that most countries will define bitcoin as an asset in the future.

Yes.. I think most countries call it that way.
governments and central banks in various countries say that bitcoin is more accurately called investment assets in digital form. Governments always say, bitcoin is not currency, and will not be able to replace the convensial money.
However, I am sure we all agree that, bitcoin is an asset and a currency. because bitcoin can be made as a medium of exchange in the payment system.