Topic: Bitcoin just an asset ? - page 33. (Read 9214 times)
Today the most common use case of Bitcoin is for investors to gamble upon and to try to get the more value out of it thats why some are comparing it to the asset , but on the other hand bitcoin can be used as currencies as there are also some places that accept bitcoin as payment method. The problem with this is however the ability of the network to serve the users fast with no problems - it wasn't designed and made to be the widely used cryptocurrency at the first palce, but rather it was made more like an experimental currency that seems to be working now. After few good upgrades and forking bitcoin is becoming more and more like an intenet used currency. Even if some altcoin takes BTC place for currency people will use BTC and some will see it as an digital version of gold because of its limited supply.
Bitcoin is a multi faceted entity.
1. It is money as it is limited and has a store of value, unlike fiat currency which isn't really MONEY.
2. Bitcoin is a disruptive technology that can be applied on different platforms and in different industries.
3. Bitcoin is digital currency that can be transferred online and via mobile to any part of the world.
1. It is money as it is limited and has a store of value, unlike fiat currency which isn't really MONEY.
2. Bitcoin is a disruptive technology that can be applied on different platforms and in different industries.
3. Bitcoin is digital currency that can be transferred online and via mobile to any part of the world.
In order for bitcoin to fully thrive, it has to be literally everything. It has to be the perfect store of value, surpassing gold, and it has to be the perfect currency for payments, surpassing the dollar, the euro, and the other big fiat currencies.
We can achieve this if we keep the network decentralized by having a rather conservative blocksize, then the fiat part with lightning network.
We will achieve this, after we get rid of the segwit2x hardfork idiots, and we'll hit $10,000 in no time as the evidence becomes clearer.
We can achieve this if we keep the network decentralized by having a rather conservative blocksize, then the fiat part with lightning network.
We will achieve this, after we get rid of the segwit2x hardfork idiots, and we'll hit $10,000 in no time as the evidence becomes clearer.
It varies between person. Some consider it an asset, some give importance to it as an investment, few use it effectively for shopping needs, few prefer it for large volume transactions. Also there are people who use it for illegal activities. So the multiple choice is provided and it's our turn to pick upon our need.
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 for me is both an asset as well as a currency. It has all the necessary requirements needed for it to be classified as either a commodity as well as currency. It is a currency as there are more and more places worldwide where bitcoins are accepted as a form of payment. Meanwhile, it is still a commodity as there are thousands of users across the world (if not more) who just hold on to bitcoin for its value, or more like future value. It is expected that the price will drive upwards even further and this is why they are just holding onto it and not doing anything else with it. They might prefer the advantages / stability that their normal currency offers them now, or they might just want to hold onto as many bitcoins as they can and spend as little as possible.
Its a bit of both, but it ultimately comes down to the person using it. They might want to do either things with bitcoin as mentioned above.
In fact, the currency is an asset with the highest liquidity, so if bitcoin becomes sufficiently liquid, it will be on par with traditional currencies.
yes bitcoin can not currently process a million transactions per second but that doesn't mean it is not a currency. a currency is what you can use in exchange for goods and bitcoin can and is doing that perfectly well.
and it doesn't need to process a million transaction per second right now
in the future when it needs it, hopefully that ability is also added.
and it doesn't need to process a million transaction per second right now
in the future when it needs it, hopefully that ability is also added.
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.
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?
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