Bitcoin just an asset ? - page 29. | Bitcointalksearch.org

xIIImaL

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Quote from: Fermin on July 16, 2017, 07:43:07 AM

Bitcoin is an asset and like currency also.Bitcoin is an electronic financial mechanism providing features that resemble an established currency system with its own money creation and transaction regime but relies on a decentralized organizational structure. In contrast to the central bank’s discretionary decision making, money creation in the Bitcoin system is transparently realized by a distributed and open algorithm, facilitating the reliability of expectations about the future supply of money.

I am also hoping the same but nowadays seeing the price bitcoin we guys are worry about the fall first. We cannot take bitcoin is like a gold at any time right. If price is the matter for anyone who doesn't know about bitcoin they will sure go to bitcoin but people already be in bitcoin community they will worry about price.

CyberKuro

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People stated bitcoin as many things:
- digital currency
- digital gold
- commodity
- store of value
- asset
- and so on

But I prefer to bitcoin as a medium of exchange, whether you want to exchange it with goods or money and vice versa, it can be done as it happens everyday (maybe). The founder stated bitcoin as A Peer-to-Peer Electronic Cash System
You can read this :
Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities.
https://en.wikipedia.org/wiki/History_of_bitcoin

djoko adi

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I think bitcoin is more than just an asset. Bitcoin is a precious currency. With bitcoin I was able to make money. Bitcoin can also be used as a means of buying and selling. There are so many companies, stores, or restaurants that accept bitcoin as a means of payment. I am very happy to get to know bitcoin that can be enough for my personal life.

hatshepsut93

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

Bitcoin is unique, there's nothing like it in current financial world. It may be true that it doesn't have characteristics of a currency at this moment, but it has the technology that allows it to be used as a currency, and number of businesses already accept it. In many cases it is worse than existing currencies, but people use it because sometimes it's the only choice, or because it's sometimes better (private transactions, overseas transactions, cheaper fees with big payments) In the same time, bitcoin has characteristics of an asset - it's secure to store, has potential to grow, traded on many exchanges, already caught interest of some mainstream investors.

Fermin

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Bitcoin is an asset and like currency also.Bitcoin is an electronic financial mechanism providing features that resemble an established currency system with its own money creation and transaction regime but relies on a decentralized organizational structure. In contrast to the central bank’s discretionary decision making, money creation in the Bitcoin system is transparently realized by a distributed and open algorithm, facilitating the reliability of expectations about the future supply of money.

opticalcarrier

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If Bitcoin is mainly used as a currency to pay for goods and services, it will compete with fiat currency such as the US dollar and thus influence its value and ultimately monetary policy. If, on the other hand, it will mainly be used as an investment, it will compete with other assets such as government bonds, stocks and commodities among others and potentially influence the financial system and financial stability. Whether it is currency or an asset, the potential to influence the economy as a whole depends on the success of Bitcoin or similar alternatives compared to existing currencies and financial assets.

emezh10

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

Bitcoin can be really act as an asset but at the same time as a currency type. It act as an asset it term that we store and keep on holding it while waiting for the price pump to change it into cash wherein we use to buy goods. For some countries where bitcoin has already been legalized it is used as a type of currency wherein it is already accepted as a way of payment.

luckylucky

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Quote from: Juggy777 on July 07, 2017, 08:49:46 AM

Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

Personally for me Bitcoin is a aspect and a currency also. To explain to you, it is an asset if I store my money in it, and I expect it to appreciate. It is a currency for me cause I use it to buy and sell goods and services. So the answer to your question is what would you like it to be. People don't understand it is completely decentralised, strong, so it's the best, it's use depends on person to person.

Agree with me, bitcoin for me is aspect and also currency, so i hold on bitcoin

mackenzied

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Quote from: Nevis on July 14, 2017, 07:00:24 PM

I think yes,because bitcoins is not made for that thing bitcoins is made for financial freedom and not for being a legal currency in the future,its just an asset i think andwhat you said is right

You really have to think wrong, take a look at the fact that bitcoin has been accepted in so many countries, bitcoin was actually a coin. However, it is still not really stable, it needs more time.

doomloop

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Quote from: olubams on July 15, 2017, 06:02:01 AM

Bitcion wth current challenge as actually opened up to various discussions concerning its original status simply because of what is being faced now but when we read news of several organisations accepting the coin the discussion changes as to what exactly is the function of bitcoin. For me, I think the two cannot separate from each other as it both serve both functions with one overshadowing the other at any point in time the discussion is to happen.

yes you are right to some extent that these two terms are different from each other and both has different values and regulations these two terms can be separately just by the increasing price and the pumps and dumps of the rates so bitcoin has a fine asset and the price is bound with this 2nd time developed currency after a chance there is always another chance.

mackenzied

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

They were really wrong, bitcoin has its own unique characteristics, however, these characteristics are only identified by technology, it is not a coin purse, in the future, virtual currency has It can become the world's main currency, and bitcoin has a huge opportunity to do it.

Przemax

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Bitcoin is not just an asset, but the price it has achieved is making it like so. All of the bitcoin problems are related to its price and speculation interest.

Bitcoin is much more, but for now it is made to be an asset primarly. Everybody is despairing when the price tanks. There is nothing to despair. Bitcoin needs users not speculation money to succeed in the eyes of the public. I think such a technology needs a lot of time and enthusiasts to develop properly.

NoNetwork

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Quote from: coolstory on July 14, 2017, 07:19:10 PM

Quote from: Nevis on July 14, 2017, 07:00:24 PM

I think yes,because bitcoins is not made for that thing bitcoins is made for financial freedom and not for being a legal currency in the future,its just an asset i think andwhat you said is right

Just an asset and very risky one. Bitcoin has been created to decentralize the world economy but it turned into a speculative asset for whales.

That's just what 'decentralized' mean, having financial freedom, thus basically that's the whole idea of Bitcoin. How could you say that its just an asset, if you don't even know the real potential of Bitcoin? Its more than just an asset, it could change a person's way of living. And eventually many medium and large corporations are willing to take the risk to bitcoin, why? Because it has the potential to change the Economic nuisance we currently have right now.

olubams

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Bitcion wth current challenge as actually opened up to various discussions concerning its original status simply because of what is being faced now but when we read news of several organisations accepting the coin the discussion changes as to what exactly is the function of bitcoin. For me, I think the two cannot separate from each other as it both serve both functions with one overshadowing the other at any point in time the discussion is to happen.

ethereumhunter

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Quote from: mantra on July 14, 2017, 10:04:48 PM

Bitcoin is a very valuable asset, maybe more than an asset, more than just stocks or investment tools, bitcoin and blockchain systems can change financial technology, maybe still vague, but start many countries that implement bitcoin, if this trend continues then the world of finance will Changed in the future, banks no longer needed

until now, i think bitcoin is still an investment for most people and few of them makes bitcoin like an asset because they are still holding bitcoin in large amount and waiting for the price. but i am sure that in future, if all country accepting bitcoin then bitcoin can be currency for all country and all people.

Getmon

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I have also read the same news. If I'm not mistaken, the basis was some business establishments that, instead of getting higher customers for opening up to bitcoin payments, they only received low turnout. The analysis of some financial experts believed that the price of bitcoin made it so precious that many people who have bitcoins don't want to spend them. They keep them instead because the value is ever rising.

cpfreeplz

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My thought is that an old school economist wrote this and thinks there is a box that he needs to stay in. Unfortunately for him he's wrong. He's just used to seeing hyperinflating currencies rather than deflationary currencies backed by math and electricity.

jorneyflair

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

Well, lets get the definition of an asset correct. The definition of an asset is: An item that has a value that is defined by a company and can be used to pay debts, meet commitments etc.

Now, onto the news that you heard about how bitcoin doesn't meet the characteristics it is to become a currency that can meet our needs, and that is true since bitcoin is yet to become mainstream, there right now is too many problems with bitcoin and we need more media attention for bitcoin to become a currency that can be used in real life and online.

coynedterm

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

That news and information that what you got is 100% true , but still here you need to see the positive ways about the advantage of the Bitcoin .
First of all this is wrong that the Bitcoin doesn't meet our current economical condition , here if you will try to see every field then you will find that all the fields are using Bitcoin and also they are making much earnings with the payment of the Bitcoin .
Actually the Bitcoin have no value but it's demand is making its value , everyone wants to have Bitcoin because every have the trust with the Bitcoin that they can use it to buy and also they can easily sell the Bitcoin for the fiat money then why not have to Bitcoin where we can use our own money in any ways as we want to use without limit and without any restrictions .

chixka000

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Quote from: Shamie1002 on July 07, 2017, 08:24:06 AM

I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?

A currency can still be considered as asset so the mere fact that bitcoin is a currency it can still also be an asset for everyone. No matter how will people denies it bitcoin is really capable of a medium for money transaction

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