Crypto is an Asset or Currency? - page 21.

agentx44

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

It is a currency in my opinion. Bitcoin is a digital currency so teachnically it is a currency. But due to the high rate of increase on its market value, people considered it as an investment which turned out to be a good investment for being profitable to most of its users which are now also investors. The rate of increase makes Bitcoin more epecial than ither currencies.

jovs

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

When we speak of currency, we are actually pertaining to a tool that posses a certain value use for buying, purchases or business transactions.Digital currency or cryptocurrencies possesses the same property as normal currency does. When we say asset it is everything a person owns, like house, cars, jewelries and even money. Anything that is valuable, so cryptos can be classified as both asset and currency.

jaaeeeyyyy

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It is an asset because of its value and used as currency to transact or even vice versa It is a currency to use for transactions and only made an asset because of its high value. So its both an asset and currency in different aspect of viewing to it. Whether its a value or currency it does not matter to me as long as bitcoin is rising now and helping many people l

Visualvery

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For me, bitcoin now is asset. Because, by holding it i can have an increase in value. And this much better, acceptance bitcoin in global community very positive. Once used as solution to the usual financial constraints.

Shikaina

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For me it is both but not all cryptos can be considered assets. Some are just real bubbles. One pops up and the other comes. But bitcoin indeed is both an asset and a currency.

beej

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

Bitcoin is a digital currency, it was built for that very purpose. It's also correct that
Cryptocurrency is an innovation to make transactions easier and more faster. Ever
since it's exposure and growth throughout the years, it evolved and people began to
notice it's heighten potential. Those moments turned cryptocurrency into an asset, a
volatile lucrative type of asset and at the same time a functioning currency.
It's uncommonly unique actually because today it is credited both as an asset and
a currency.

nagatraju

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Quote from: Drixy on December 21, 2017, 07:05:24 AM

Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

It is both after all it depends on how you use it. If youre calling for a long term HODL for it. It can be called as asset if you use it like that At first your considering a digital money to be held in as small as smartphones.

I agree...but at the moment it seems to me that using it as a currency causes difficulties

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

Yeah bitcoin is created as a digital currency but since the value is insanely increasing people realize that this can be a good asset. That's why we're holding it as much as we can so it will be beneficial for us in the future.
And I don't think it'll destroy what's the main purpose of it as we can think that bitcoin being a great asset is a blessing in disguise by Nakamoto.

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

It is both after all it depends on how you use it. If youre calling for a long term HODL for it. It can be called as asset if you use it like that At first your considering a digital money to be held in as small as smartphones.

acener

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

I feel that crypto is a little more of an asset, but more of being a currency. It can definitely be an asset depending on how we use it. Although, it is most certainly, without a doubt a currency since we can use it as money depending on what crypto we are holding or using. The good thing though, is it can be an asset as well.

websoftwareengineer

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Crypto is a currency because it is a value and it is a digital currency as well, You can also call it as an asset if you still have a day job while working on bounty campaigns, You can call it in both way's but the most important thing is that you earn money from it.

removebeforeflight

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Crypto is a all in one digital money. You may have Crypto as an asset if it is idle and transact if in need. The initial stage of all things would be narrow but when days passed everything would be broaden. However Bitcoin has broaden itself to make itself as an all purpose usage.

When phones invented by Graham Bell the purpose was just to have communication through voice. But now the invented communication system is used for many purpose. Similar to this example Bitcoin also was having many transitions and would have more in near future as well.

posoa

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I am of the view that Crypto is an asset, as in the Bitcoin where many investors invest in Bitcoin, for the purpose of making gain for their investments. Also the Blockchain Technology which is not widely accepted and understood is another reason why it cannot be a currency. A currency will be generally accepted as a common currency, in which transactions will be widely accepted, and where ever exchange is required nothing will hinder its usage and its acceptability.Bitcoin is more of investment an asset, rather than been a currency.

johny1512

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For me crypto is just technological innovation for the use of transactions or to make transactions much easier and much faster and it has no limits of borders because they are online. On the other hand they are supposed to b threats for developing economies because it is tax free

haileysantos95

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For me crypto currency is an asset to have, various crypto currency might be big like bitcoin in the future so having some will be an asset to you someday, hence it will also be a currency which will be used to buy something that you need in the market or online store.

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Quote from: matanglawin on December 20, 2017, 11:09:23 AM

Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

Since it is not yet legal to most of the countries, I think it is more of an asset and investment. Its market value is continuously growing and becoming more expensive at a high rate making it one of the most profitable investment so far. But when the time come that it is already legal to most of the counteies, I think it will be more of a currency.

ahh, that's why.
I agree with you. Cryptocurrencies are not yet fully introduced in the mainstream before, many countries are just making their move now to understand it, businesses and merchants doesn't consider it as a form of payment. It became an investment asset due to its volatility and growing market value

Kisanaq

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We must be patient to get a good price if invest cryptocurrency, as happened with bitcoin, it took 9 years to go from $ 1 to $ 17,000 and if we are patient 5 more years then the price will reach $ 500,000.

rphk

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As per my opinion crypto is both asses and currency , if you are holding it for long time then it will considered as assets and when in need to you need exchange it with real currency , so then it becomes currency . when crypto coin value is less buy it and hold it for long time ,wait for some time price to increase ,when you satisfied the with price rise as per your requirement ,then it s best to sell it and make money out of it .now a days bitcoin is rising rapidly .

migolmigol

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It is an asset. Because in basic accounting terms, asset is anything that contributes in giving you more money. However, it is also a currency but a special one. It is a cryptocurrency. Which is different from all the other fiat currency that there is in every country. This cryprtocurrency is unregulated and transactions are done through the internet. It is also mined in the digital world also through different hardware computers and electricity. The price is also very volatile compared to the fiat currency and the reason for this is again because no government or central bank regulates it.

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Quote from: Tony_Nguyen on November 19, 2017, 07:44:08 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?

If you look at the history of currencies you will find that most currencies where first assets and as people began to use it more and more as a medium of exchange then those assets became currencies, bitcoin was created as a currency but it seems it is fulfilling the functions of an asset first and that makes sense, if you look at history you will know that is fine, eventually bitcoin will behave as a currency.

Topic: Crypto is an Asset or Currency? - page 21. (Read 3385 times)