Topic: Crypto is an Asset or Currency? - page 20. (Read 3385 times)
Bitcoin is one of the best digital assets of now but in terms of currency it depends on the country or region on how they see bitcoin. but for now it remains decentralized and that's how we use it.
Cryptocurrency started with bitcoin as decentralized currency: digital currency meant for p2p transactions, to avoid the middlemen like banks etc. Then came the altcoins, alternatives for bitcoin. With the incredible price rise it became more of an asset, especially with some issues like high fees and long transaction times it became less of a currency. While the altcoins offered more possibilities for transactions, although some also increased in price. So, some crypto are more asset and some are more currency.
Crypto is both an asset and also as a currency. But basically crypto is created as a digital currency, but slowly crypto becomes an asset where everyone buys and stores it for greater profit.
Bitcoin is created as a digital asset and a currency but it cannot be used as a currency for smaller transactions now,i am not certain about the thousand other coins in the market,you can call it as a currency,basically why everyone is investing in those in my opinion is to convert them back to bitcoin when the price is right.If you look at the daily trading volume you cannot say that people are purchasing and holding their coins. 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?
Yes bitcoin was created to be used as a currency but so far it seems better of as an investment because it offers a high rate of return and since it's not known by many people trading with it becomes difficult. Transaction fees are increasing which makes it better to be stored in stock to avoid high fees when using it as a transaction. What is your opinion?
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?
Yes, at present cryptocurrencies are just an asset rather than a currency. The most important feature of a currency is that it should be a stable store of value. Whereas Cryptos like Bitcoin are very volatile. What is your opinion?
Also, another feature of currencies is to facilitate transactions easily. Transactions through cryptos are very slow and transaction fees are also huge. Also, being decentralised, there is no source to enforce responsiblities on cryptocurrencies. Hence, there are no regulations.
Interesting question. Actually, any currency can be an "asset", if you use it as a store of value and keep it.
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?
Yes I agree with you and I do belive that some coins are only used as an asset than currency but there are many coins which can be used as a currency. Most of the people on this forum are now started using bitcoins as an asset because people believe that bitcoins have potential to reach $50k or even more on the other side many altcoins provides quick transaction with almost no fees can be used as a currency .. What is your opinion?
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?
What is your opinion?
I think crypto is asset. an asset have currencies. not a currency standard used to sell for a living buy at this time. until now Fiat continue to be a currency. standard a crypto remain refers to the Fiat. we buy crypto also use the Fiat. true or not? undeniable that we are currently still refers to the Fiat. without Fiat we can not trade. not all needs can also purchased with crypto. maybe someday when community or the world's already want that crypto considered a currency maybe it will replace the Fiat. as a standard a currency.
currency i thinkm just like BTC whitepaper
i understand about this discussion, but before that we must understand the difference between money and currency
What Is Currency?
what is the difference between currency and moneyCurrency is what most people think money is!
It is a medium of exchange.
A unit of account. (it’s got numbers on it!).
It is portable.
It is durable.
It is divisible. (you can make change from it).
It is fungible (interchangeable).
Currency is simply paper. This paper money is a tool for trading your time.
Currency has no intrinsic value!
What Is Money
Money is a store of value and maintains its purchasing power over a long period of time plus:
what is the difference between currency and moneyIt is a medium of exchange.
A unit of account.
It is portable.
It is durable. (it never changes from one century to the next).
It is divisible. (you can make change from it).
It is fungible (interchangeable). It is the same wherever it is on earth.
Silver and gold have intrinsic value!
https://thewealthbusiness.com/what-is-the-difference-between-currency-and-money/
some of post above answer BTC is just like money
i understand about this discussion, but before that we must understand the difference between money and currency
Quote
What Is Currency?
what is the difference between currency and moneyCurrency is what most people think money is!
It is a medium of exchange.
A unit of account. (it’s got numbers on it!).
It is portable.
It is durable.
It is divisible. (you can make change from it).
It is fungible (interchangeable).
Currency is simply paper. This paper money is a tool for trading your time.
Currency has no intrinsic value!
What Is Money
Money is a store of value and maintains its purchasing power over a long period of time plus:
what is the difference between currency and moneyIt is a medium of exchange.
A unit of account.
It is portable.
It is durable. (it never changes from one century to the next).
It is divisible. (you can make change from it).
It is fungible (interchangeable). It is the same wherever it is on earth.
Silver and gold have intrinsic value!
https://thewealthbusiness.com/what-is-the-difference-between-currency-and-money/
in my opinion, bitcoin is asset. you can earn it by be freelancer here. and you can sell it.
bitcoin is asset, because every year bitcoin price will grow. but we dont know certainly of bitcoin price it will increase everytime or decrease. but, have some bitcoin is good. you can trade and multiply it
bitcoin is asset, because every year bitcoin price will grow. but we dont know certainly of bitcoin price it will increase everytime or decrease. but, have some bitcoin is good. you can trade and multiply it
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 serves dual purposes i.e as a currency as well as an asset, as a currency it is being used in settlement of jobs and services offered online, meanwhile a lot people sees crypto as an asset due to it's appreciative features that is why people tends to buy and hodl Cryptos as a future investment.What is your opinion?
I would say it's both, or at least aims to be both.
Right now it is used as more of an asset, but i think it will be used more as both in the future.
Right now it is used as more of an asset, but i think it will be used more as both in the future.
Crypto is both an asset and also as a currency. But basically crypto is created as a digital currency, but slowly crypto becomes an asset where everyone buys and stores it for greater profit.
Cryptocurrencies or electronic currencies are both serves as an asset and currency.
Crypto has a monetary value which can be use in all commercial transaction, you can buy somethings, pay bills and etc. Another thing is serves as asset since they provide security for a bright future of every investors.
Crypto has a monetary value which can be use in all commercial transaction, you can buy somethings, pay bills and etc. Another thing is serves as asset since they provide security for a bright future of every investors.
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?
I think its both we could say its an asset because we can use it in our payment method or we can have an extra income here in bitcoin.We could say its an asset because its like a gold that cannot be depreciated we can invest it to make it more profitable,but I believe the crypto is asset because we are buying and at the same time holds for the possibility of increasing the value. But if we use the word crypto, most people, they know it is a digital currency that speeds up the transaction when it comes to money..What is your opinion?
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?
What is your opinion?
Yeah, i agree on you...it will destroy the initial purpose since the value of bitcoin is higher and fluctuating.
People will consider it as asset rather than a currency, they will surely hold there bitcoin and wait at a profitable value.
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?
I think its both we could say its an asset because we can use it in our payment method or we can have an extra income here in bitcoin.We could say its an asset because its like a gold that cannot be depreciated we can invest it to make it more profitable,but I believe the crypto is asset because we are buying and at the same time holds for the possibility of increasing the value. But if we use the word crypto, most people, they know it is a digital currency that speeds up the transaction when it comes to money..What is your opinion?
Maybe you're right, but when it comes of the situation that you're going to hold it for a long-term , perhaps it will be an best asset of your life which can give a chance to become rich someday through just be patient by holding it in long long-term. Because the bitcoin now is heading into $21,000 that has really have a big potential to be more valuable and might possible to be legalized in whole wide world.
I think for now many people using bitcoin as their asset and their currency at the same time. they use bitcoin to trade so they can save more bitcoin and then they will keep the bitcoin in their wallet. but if I see now, some people said that they use bitcoin for a long term investment but they become panic when they see the price is dropped too far like now and they decide to sell some amount of the bitcoin and I think they don't really use bitcoin as a long term investment. if they really use bitcoin as an investment, they will not getting panic and will stay calm and they will buy more bitcoin so they can increase their bitcoin.
I guess it's a nature of a people that being panic when the bitcoin is suddenly going down especially if they don't really yet know why bitcoin is always flactuating its value.
I suggest for those begginers in bitcoin investment that do search sometimes about of it, which might could help them to learn and gain more knowledge in bitcoin. So that if bitcoin suddenly changes again it's value they don't wonder why this happening because they already know about it.
I prefer crypto to be called an asset, because in my country the use of bitcoin as a medium of exchange is still small, because the government in my country also does not issue bitcoin as a medium of exchange. So the community also makes bitcoin as a medium of business and investment.
They were created to be currencies and currently are currencies. However, many of them have experimented huge increases, so many people are holding them and they are behaving like assets. But it doesn´t mean that because it is being treated like an asset, its not a currency anymore.
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?
I think its both we could say its an asset because we can use it in our payment method or we can have an extra income here in bitcoin.We could say its an asset because its like a gold that cannot be depreciated we can invest it to make it more profitable,but I believe the crypto is asset because we are buying and at the same time holds for the possibility of increasing the value. But if we use the word crypto, most people, they know it is a digital currency that speeds up the transaction when it comes to money..What is your opinion?
Maybe you're right, but when it comes of the situation that you're going to hold it for a long-term , perhaps it will be an best asset of your life which can give a chance to become rich someday through just be patient by holding it in long long-term. Because the bitcoin now is heading into $21,000 that has really have a big potential to be more valuable and might possible to be legalized in whole wide world.
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