i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
i think it is demand of the new generation, they are looking for such an currency that may be more convenience for them to be use on internet for buying and selling, and i think bitcoin is the best option with them and most of the online lovers already using it. 
Topic: Currency v Property (Read 5859 times)
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.
I also use Bitcoin for investment. And even though the legal status cryptocurrency in my country is not defined, I think, that Bitcoin - a property. I can use this property as well as other values
In my country, it is a property.
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.
I also use Bitcoin for investment. And even though the legal status cryptocurrency in my country is not defined, I think, that Bitcoin - a property. I can use this property as well as other values
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
bitcoin may later be used as currency just like the dollar. but on the other hand my confusion when the future becomes the currency bitcoin. who is the creator of the country?. such as the dollar. were created in as
Actually i prefer to think my bitcoin as property to be prrecisely as an investment, not a lot of people using bitcoin as curency, because bitcoin is more suitable as investment and for sure the price is going to get better in the future
As per the current laws, bitcoin can be classified as property (asset), investment (commodity) or even computer software. This is mere an opinion and of course debatable in the grounds of law in court. In any case, the government can put a tax on it but the rate of tax would be different across the world so we can safely say that bitcoin is secure at the moment but might get complicated if some governments decide to put a tax on it.
It would be more interesting to see how they are going to collect this tax once they decide to levy it. It is not so much about your responsibility of paying it (which is expected) as how much money they will be able to actually raise through this tax. My point is that, I don't see any reason why a government would want to impose such a tax if it couldn't at the same time tract down compulsive tax evaders, given that their number will be quite close to 100% with any degree of certainty...
Rephrasing Napoleon, one should never tax what one lacks the power to collect
Well to be honest, crypto currency is a kind of technology which can theoretically destroy the domestic as well as international economies (though I don’t see such possibility in next 50 years for one and more reasons) so governments cannot bear the risk on the other hand it’s true that no one can trace movement of bitcoin with identity so it’s near to impossible for governments to levy taxes on it and who knows governments might be finding a solution for this.
This is unlikely to happen at all
Even if we assume that Bitcoin becomes a universal currency accepted everywhere and all fiats disappear (a fantastic scenario but still), governments could easily tax miners. Obviously, miners have physical presence, I mean, they have mining equipment located in some place, and today it is big mining farms in most cases at that. So governments could just tax every bitcoin mined, or every transaction confirmed after all bitcoins are mined
I've been interested in the currency versus property debates in State courts throughout the USA. It's an interesting topic to consider. Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.
What are your thoughts? And does it really matter?
Whatever's your thoughts about what bitcoin is, it is a currency, property, electronic ledger, commodity, asset, formless money, it doesn't really matter. I assume bitcoin just like other currency and prefer consider bitcoin as my savings for future planning due to the value keep increasing and more development from founders and users in community. What are your thoughts? And does it really matter?
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
bitcoin may later be used as currency just like the dollar. but on the other hand my confusion when the future becomes the currency bitcoin. who is the creator of the country?. such as the dollar. were created in as i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
A currency normally inflates its value but bitcoins increases its value. So that's not a currency IMO, it's a properly and our property is in demand now and maybe in the future so it will continue to have a good market value.A currency value rises normally depending on the inflation rate on the exchange market. When its compared to bitcoin value its progressive and increasing its value, which could be considered as our property to have for the future. So for me both currency and property which i consider bitcoin have its equality towards economical growth of currency exchange which will be having great market value in the future of cryptocurrency.
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
A currency normally inflates its value but bitcoins increases its value. So that's not a currency IMO, it's a properly and our property is in demand now and maybe in the future so it will continue to have a good market value.
i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.
Property grows in value in accordance to time period but currencies won't vary in values to bigger extent. Another thing is that holding properties won't create great legal issues compared to the holding of large sums of money. Property too at times get devalued based upon the location of the property.
I've been interested in the currency versus property debates in State courts throughout the USA. It's an interesting topic to consider. Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.
What are your thoughts? And does it really matter?
What are your thoughts? And does it really matter?
You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.
On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.
When you say currency, I am assuming you mean money.
Money is important because it is a means of exchange for goods that might not be easily exchangable.money or currency also os a store value. A store of value means that money keeps its value in a sense that a car loses its value over time.unlike on property, property ensure efficiency within the financial system.
Actually i prefer to think my bitcoin as property to be prrecisely as an investment, not a lot of people using bitcoin as curency, because bitcoin is more suitable as investment and for sure the price is going to get better in the future
As per the current laws, bitcoin can be classified as property (asset), investment (commodity) or even computer software. This is mere an opinion and of course debatable in the grounds of law in court. In any case, the government can put a tax on it but the rate of tax would be different across the world so we can safely say that bitcoin is secure at the moment but might get complicated if some governments decide to put a tax on it.
It would be more interesting to see how they are going to collect this tax once they decide to levy it. It is not so much about your responsibility of paying it (which is expected) as how much money they will be able to actually raise through this tax. My point is that, I don't see any reason why a government would want to impose such a tax if it couldn't at the same time tract down compulsive tax evaders, given that their number will be quite close to 100% with any degree of certainty...
Rephrasing Napoleon, one should never tax what one lacks the power to collect
Well to be honest, crypto currency is a kind of technology which can theoretically destroy the domestic as well as international economies (though I don’t see such possibility in next 50 years for one and more reasons) so governments cannot bear the risk on the other hand it’s true that no one can trace movement of bitcoin with identity so it’s near to impossible for governments to levy taxes on it and who knows governments might be finding a solution for this.
I've been interested in the currency versus property debates in State courts throughout the USA. It's an interesting topic to consider. Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.
What are your thoughts? And does it really matter?
What are your thoughts? And does it really matter?
You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.
On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.
I've been interested in the currency versus property debates in State courts throughout the USA. It's an interesting topic to consider. Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.
What are your thoughts? And does it really matter?
What are your thoughts? And does it really matter?
You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.
On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.
Actually i prefer to think my bitcoin as property to be prrecisely as an investment, not a lot of people using bitcoin as curency, because bitcoin is more suitable as investment and for sure the price is going to get better in the future
As per the current laws, bitcoin can be classified as property (asset), investment (commodity) or even computer software. This is mere an opinion and of course debatable in the grounds of law in court. In any case, the government can put a tax on it but the rate of tax would be different across the world so we can safely say that bitcoin is secure at the moment but might get complicated if some governments decide to put a tax on it.
It would be more interesting to see how they are going to collect this tax once they decide to levy it. It is not so much about your responsibility of paying it (which is expected) as how much money they will be able to actually raise through this tax. My point is that, I don't see any reason why a government would want to impose such a tax if it couldn't at the same time tract down compulsive tax evaders, given that their number will be quite close to 100% with any degree of certainty...
Rephrasing Napoleon, one should never tax what one lacks the power to collect
Well to be honest, crypto currency is a kind of technology which can theoretically destroy the domestic as well as international economies (though I don’t see such possibility in next 50 years for one and more reasons) so governments cannot bear the risk on the other hand it’s true that no one can trace movement of bitcoin with identity so it’s near to impossible for governments to levy taxes on it and who knows governments might be finding a solution for this.
Bitcoin serves more as a property than a currency because of its price fluctuations.
For it to serve as a currency, its price needs to be more stable.
For it to serve as a currency, its price needs to be more stable.
I really dont know and im so confused. How government treat bitcoin. Is it currency? Is it property? But for me its both currency and property. Currency because its like money that anyone can accept and generaly use(ofcourse except countries that banned bitcoin). And property because you can posses and keep it anytime you want. This things doesnt matter to me. As long as theyre not prohibiting us to use bitcoin, im okay with that
Since currency can be owned, it is someone's property legally
The difference is that property is usually taxed (a property tax) while currency itself is not taxable overall. There were efforts which could be construed as directed at taxing the money you own (for example, free money), but as far as I know, this idea didn't catch on anywhere. Really, why would you have to pay a tax if you decided to save some funds to buy, say, a house? The bottom line is that money is not taxable, but property is, so if Bitcoin is to be considered as property, it should be taxed accordingly
In the US, currency trades are taxable. If you convert USD into another currency and later convert it back and realize a gain, you must pay taxes on the gain. It's the same for how bitcoin is treated as property. If you acquire bitcoin (not through buying it), you have to pay a property tax on it. If you buy it and sell it and realize a gain, you have to pay tax on the gain.
Bitcoin as of now feels more like property than currency.
It is sort of an investment that you just sit on and then cash out when you want to.
Not as much purchasing power with Bitcoin on buying goods.
It is sort of an investment that you just sit on and then cash out when you want to.
Not as much purchasing power with Bitcoin on buying goods.
Well one reason might be the volatility. In order for people to take bitcoin seriously as a currency, it needs to have price stability. It's never been stable in its history, so it's failing a major requirement of viable currencies. Further, the IRS has classified it as property. So at least they share your assessment that it feels more like property than currency.
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