Topic: Bitcoin just an asset ? - page 31. (Read 9234 times)

They were wrong, everything was in fact not so simple, bitcoin is a virtual currency that is very effective in online transactions, it can completely be considered as a real money.

For bitcoin you can buy things or pay bills so it can be considered a virtual currency. It can also be used as an investment. It turns out currency and investment in one instrument.

Bitcoin as digital gold. Bitcoin has all the same characteristics as gold. The number of Bitcoin is limited (there's only a certain amount to be produced), Bitcoin can be broken down into smaller units without losing the value of the unit. More and more people use the Bitcoin for payment, the more valuable this payment system. Buy Bitcoin similar to buy shares of Visa. Yes I agree the Bitcoin once came in physical form may get full attention if it became fiat money characteristics.

In legal terms, bitcoin can be classified as a currency, asset, commodity or even a computer software and the conclusions will differ from person to person and country to country. In my opinion, it is a currency 2.0 and it might not get fit in the traditional views of the currency but still, it fulfils the basic needs of transfer of values with some additional features and for that it needs little fees.

I think bitcoin is not an asset, but it has value like a physical asset. How we can buy one land or house and after few years the land value increase like that bitcoin value also increase if you save this coin for a long time. But it does not have value like a physical asset. The price drop in the market will not affect much on a physical asset, but it will effect on bitcoins.

I think bitcoin is also considered as a property because I think it's like a currency. You can use it to buy other goods and services. A great asset to make a profit is to earn big money from your product when you are saving the bank

Bitcoin is a lot of things and that may also include being an asset. For something to be a currency, it just has to be an assest that has the highest liquidation, which will them classify it as a currency. While bitcoin may not have same features of fiat currencies, it is still a currency. Bitcoin is an investment, a currency, a type of stock and also an asset.


This is a good analogy of what bitcoin is, one of the many stocks in the stock market. Stocks have value and can be swapped for fiat currency, which is what bitcoin can do.


Also agreed, people trust in bitcoin so it doesn't matter what it is, it can be used to make transactions, that's what is important.

asset or currency, doesnt matter as long as it has value and people use it.

Yes, bitcoin is an asset because it is a digital currency that are accepted in many country in this word by means of payment.

Who cares about the news if we are enjoying all the services provided by bitcoin in real life. Believe in what you see or experience and currently i am having immense experience of bitcoin in buying services and goos and on top of that getting fiat money from it. There is exchanger, trading platform and bitcoin has big value. So its worth calling it more than just assets.

Moreover, bitcoin is like a kind of stock, one of the strongest stocks that can dominate the entire market. The crypto market is just like the stock market, everything is similar.

Bitcoin is good asset,and Bitcoin is more than an asset,is works like a currency. bitcoin works like a bank.we can send and receive the money through the internet.it is very fast and safe.

Yes bitcoin for now is just an asset, because bitcoin is just a virtual currency, called virtual because bitcoin has the most prominent characteristics among its other virtual money, and until now bitcoin can not yet be a medium of full value exchange, Still consider bitcoin only as an ass

For now,it is an asset,there is few people using it as currency to buy something right now
But in the future,if bitcoin has reasonable fees and fast transaction process,people will treat it as currency rather than an asset

That is correct. Bitcoin really is behaving more like an asset or investment rather than a currency. This is the reason why Bitcoin is impractical to be used just like fiat in a daily basis. There is so much volatility. This asset-like behavior of Bitcoin is the reason why there are many people who are engaging in it to their investment. Bitcoin's price grow over time unlike currency (fiat) that gets devalued over time.

Bitcoin is not ready to be a global reserve currency, because it cannot scale to that level with the current code. It might be able to handle the

load for a few smaller countries when the Lightning network is in affect. Yes, it might be better suited as a commodity at the moment and also

a store of value, but that might change as soon as the scaling issues are sorted out. 

They have a point actually. The entire world is using fiat for now. The entire system already adjusted and tailored fit for fiat transactions.

However, time will come when digital currency will become widespread to the extent that it will be another great option at par with fiat currency.

According to me, bitcoin is not only an asset . Firstly we know bitcoin as a global currency . As it's popularity is growing up day by day so value of bitcoin is increasing  so many people is thinking bitcoin as an asset . Bitcoin is a decentralized global currency which should be treated as a currency instead of an asset.

However, Bitcoin does match the characteristics of money better than fiat money does.  The conversion rate between Bitcoin and fiat and whether people intend to trade it or invest in it does not change this.

The characteristics of money are listed here.

Durability - Bitcoin lasts forever.  As long as there are people willing to use it, it will continue to exist.  The same cannot be said of physical fiat money which can break or wear down, or of digital fiat money, which is controlled by banks and governments.

Portability - phone wallets such as Breadwallet and Mycelium allow you to have your coins no matter where you are.

Divisibility - each one Bitcoin is made up of 100,000,000 spendable units.  More divisible than a dollar to cents, for example.  Admittedly it's impractical to spend just 1 satoshi, but microtransactions with digital fiat such as credit cards are impractical as well.  Many small places that I've seen only accept credit cards if you're paying a certain amount.

Uniformity - Bitcoin is all the same, and after several confirmations, the probability of double spending or "counterfeiting" Bitcoin is completely negligible.  Physical fiat money has been counterfeit many times before and taken up a large amount of the economy - some banks have even taken counterfeit bills by mistake in the past.

Limited supply - There will never have more than 21,000,000 coins, and the amount which come into circulation until all the coins are mined is predictable.  Fiat money is created and there is a constant inflation rate - the supply is not limited and often increases dramatically at the whims of central banks and governments.

Acceptability - Fiat money is dramatically better for this.  Other things are not legal tender for debts, and almost any shop will take fiat before even considering BTC.  However, the only solution is to use Bitcoin and be part of the movement that makes it more accepted.

Bitcoin is crypto currency and has value which can be traded in the market for other assets,  physical stuff and much more. Its not just an asset it is currency with good valuation in the market. It has big investors and fan groups too. Even we can have it exchanged for any currency in the world as well as it can be bought with other currency.  :-)