Crypto is an Asset or Currency? - page 10.

rext

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Quote from: Tony_Nguyen on November 19, 2017, 06:44:08 AM

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

You can view it as currency or a property type. It still ensures the purpose of the user is to exchange and store. When you trade it is considered currency. When you store it is considered property. You do not need to bother with this

darkangel

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Quote from: Tony_Nguyen on November 19, 2017, 06:44:08 AM

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

crypto is a currency. Monetary may also be issued separately, not by the government. For example, Bitcoin can be obtained through mining on Blockchain Bitcoin. The central bank has no effect on the issuance of Bitcoin as well as its monetary policy. Not to mention millions of people around the world use Bitcoin to trade. Today, Bitcoin acts as a real currency and can even become a global reserve asset

Zoor

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Quote from: tee-rex on January 18, 2018, 03:50:32 AM

Quote from: Hopeful2017 on January 17, 2018, 08:02:36 PM

Quote from: Tony_Nguyen on November 19, 2017, 06:44:08 AM

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

In reality, cryptocurrency is created as a currency intended for the digital transactions. It is a second currency besides fiat currencies. If you will use it as payment in buying and selling, then that crypto is a currency. However, if you will invest it, then its an asset. It depends on how you see crypto and how you use it.

That seems to be a good distinction. Therefore, if we proceed from it, we can safely assume that bitcoin right now is more of an asset and investment one at that rather than a currency in and of itself, right? Anyway, the vast majority of people seem to be using cryptocurrencies for speculation, for earning off it. But you don't pay with a money-earning asset for things in everyday life, so it is sort of either here or there choice.

Bitcoin is a currency and a currency can be use for all purpose not only for saving and making it asset. Investing in bitcoin is best option as price of bitcoin is growing very fast; right now many people are saving bitcoin for making bright future. It is true that many coins are being use for asset but many of them are being use as currency also so they are both can be for asset and currency to buy things online.

hshr0h3110world

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A currency and an asset are two different things but we can still classify crypto to any of the two. First, you need to understand the difference between an asset and a currency.
A currency is a generally accepted form of money, such as coins and paper bills, which is issued by a government. It is used within the economy as a medium of exchange for goods and services. Next is an asset, an asset is a resource with economic value that someone owns. It can be a n individual, a company or a country. The main difference between these two is that with an asset, there is an expectation that it will provide future benefit, it has the capability of generating income or increasing its value. With these ideas, you can then easily classify crypto as an asset or a currency.
You can buy goods with crypto, then you would say it is a currency. Invest in crypto and wait until the price skyrocket once again, then it is an asset.

mylyn2327

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Quote from: Erkallys on November 19, 2017, 08:12:17 AM

Crypto-currencies are made to be an asset worth a value making it a currency. Some countries like Japan are taking it as its de facto use, a currency, but in most places it is an asset, thus tax-free, and that is awesome.

Yes it is true crypto can be both currency as well as asset. It become an asset because of its value that we hold as well when we are investing on it. It is a currency that we usually use in some of our transaction and when we converted it with our country fiat and gladly the adoption of it are getting higher nowadays. It is an awesome asset just like you said because it's tax free.

setupbounds

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Quote from: Cryptomagnus on January 16, 2018, 05:27:42 AM

At present, it's much more an asset, as high volatility, high fees and long time verification make it still unusable on practical level.

Crypto currencies can be termed as both currencies as well as an asset. However, at the very present time, people are taking all these crypto currencies as one of the best way of investing their money and are taking them as an asset.

However, all the crypto coin especially some valuable coins have much potential of becoming a currency too and there are chances to see them as currency in the future.

AlphaWolf

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Presale is live!

It's both an asset and a currency. Different people have use it differently.

.01BTC

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Quote from: spiderm4n15 on January 14, 2018, 10:48:39 PM

Crypto can be called is an Assets or currency, like bitcoin and ethereum
used as payment transaction and the others like ripple used as internet protocol

It’s actually both currency and as well as asset because if you want to use bitcoin so it can help you a lot because it work same like other currency and if you want to keep it on hold so after some time it will also help you there are a lot of people who are going to keep bitcoin on hold and they are waiting for right time when its price go high then they sell bitcoin to take their profit so I think bitcoin is all in one and that why every want to join bitcoin.

Tungsten-1

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Quote from: 19faraon88 on January 18, 2018, 08:42:00 AM

Crypto is a digital currency. Since, we invest to a cryptocurrency like bitcoin, meaning crypto is an Asset. Because any investment is an Asset. Lets say crypto is like banks that your savings earning interest. For me, currency has the biggest part in our Asset. Any Asset we have should be treasured and keep it safe. Cryto is the best place to invest our treasures.

It is really very much difficult for any of the crypto currency to term as an asset or currency. At the very present time, most of the people are taking it as an asset and are taking it as a very good way of making more money in less period of time. However, in the coming days, there are slightly chances that people will start using bitcoin as currency as there are places which have started accepting bitcoin.

cizatext

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To me cryptocurrencies are assets and at the same time a currency, an Asset can always be converted into currency at any time except that asset does not have value. So bitcoin and other cryptocurrencies are great assets which can be turn into currency at any point in time, crpto is the greatest assets of our time changing the financial life of it users all over the world.

innocent93

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Quote from: Tony_Nguyen on November 19, 2017, 06:44:08 AM

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

At this point, considering the evolution of the market and the fact that more and more countries are starting to be unreceptive to the crypto world, i believe it is an asset.

munareal

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Crypto currency is an asset or currency depending on the way you want to see it. I is an asset because its value can appreciate and depreciate . It can also be seen to have value of stock and bonds . It is a currency because you can use it as a value of exchange

R21

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I think bitcoin is a asset and currency also, bitcoin is a currency which via you can make any deal where btc accept. bitcoin is a valuable asset and currency.

danim1130

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Crypto is a currecy that's absolutely right it is just being asset after you hold some coins or bitcoins here and use it on your future though there are still many ways to get some money but cryptocurrency is the best thing that we had right now.

Santri

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Quote from: Tony_Nguyen on November 19, 2017, 06:44:08 AM

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

in my opinion it will not destroy anything, I know crypto is the currency and of course the person who makes this already know if it will jaddi an asset for most users because he knows crypto is not suitable for macro transactions, even if it is destructive then crypto will not shining as it is now

Ralph1075

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Crypto is an Asset...although most popular name for all are crypto currency,even apps like imtoken refers to them as Assets .

pissyas

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Bitcoin can also be used as a currency when its transaction fees comes to normal as it can greatly effective across different countries.Currently I regard crypto as an asset and also a currency. The purpose of crypto was created initially is only as a currency, but as time goes by the crypto is more interesting and this has made more and more people are interested to use bitcoin.

Carlsen

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I think that there are crypto currencies that can be seen as an asset, and others that have the qualities of a currency.
Bitcoin with its high transaction fees, the longer confirmation times, the fact that it is limited and the massive increase in price, it has for me the characteristics of an asset.
Ether has low transaction fees and lower confirmation times. Although it gaind very much in price as well, to me it is more a currency.

19faraon88

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Crypto is a digital currency. Since, we invest to a cryptocurrency like bitcoin, meaning crypto is an Asset. Because any investment is an Asset. Lets say crypto is like banks that your savings earning interest. For me, currency has the biggest part in our Asset. Any Asset we have should be treasured and keep it safe. Cryto is the best place to invest our treasures.

jinxing

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Crypto is a digital currency but crypto can also be used as an asset for the future. Nowadays a lot of promising cryptocurrency and will be very possible in making assets.

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