Currency v Property - page 3. | Bitcointalksearch.org

cpfreeplz

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Quote from: deisik on November 22, 2016, 03:39:31 AM

Quote from: Pitchblackroom on November 03, 2016, 10:00:03 AM

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.

You can literally sit on money too

I guess in many developing countries people use dollars as a safe haven and save them under the mattress. On the other hand, the bulk of the US national debt is not in dollars as many erroneously think but in the US Treasuries, i.e. government bonds. It is only calculated in dollars. And these bonds are basically as liquid as the dollar itself, so they can be effectively considered as a type of money, not a property in the strict sense of the word, something which you can use directly, for example, live in the house you bought

Exactly. It's a currency because it meets all of the requirements of a currency. Whether governments approve it as a currency or not is irrelevant. If you can break something down, it has value, and many people use it to exchange for goods / services then you have yourself some money!

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Quote from: Carlsen on November 22, 2016, 03:33:50 AM

Quote from: pooya87 on November 22, 2016, 03:14:52 AM

Quote from: klf on November 22, 2016, 02:51:43 AM

Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

Bitcoin prices are more volatile and no one knows what happens to it in the longer run. So I prefer to invest in property for long term profits than keeping cash in hand. And only some portion of my saving I will invest in bitcoins take the advantage of these high volatile prices. I will not keep more than 5% of my savings in bitcoins.

it is an investment because there is not enough places to use bitcoin as currency! not that because they call it property. and as we move forward, the more places and more merchants who start accepting bitcoin for payment this will start to change slowly and there may be more balance between how people use it as investment and as currency.

I am really wondering what would be better for bitcoin price. Consider it as an investment or using it as payment.
When you use it as investment you make the available supply for the others smaller.
When you use it as payment regularly, you increase the demand.
Both ways help to raise the price of bitcoin. My question is what way increses it more.

When you are an investor you lesson the supply in circulation but that does not affect the spender because if they are buying online they care for the value of bitcoins not the number of bitcoins they are holding, I guess that should be understood so for both sides it's a win win situation.

deisik

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Quote from: Pitchblackroom on November 03, 2016, 10:00:03 AM

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.

You can literally sit on money too

I guess in many developing countries people use dollars as a safe haven and save them under the mattress. On the other hand, the bulk of the US national debt is not in dollars as many erroneously think but in the US Treasuries, i.e. government bonds. It is only calculated in dollars. And these bonds are basically as liquid as the dollar itself, so they can be effectively considered as a type of money, not a property in the strict sense of the word, something which you can use directly, for example, live in the house you bought

Carlsen

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Quote from: pooya87 on November 22, 2016, 03:14:52 AM

Quote from: klf on November 22, 2016, 02:51:43 AM

Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

Bitcoin prices are more volatile and no one knows what happens to it in the longer run. So I prefer to invest in property for long term profits than keeping cash in hand. And only some portion of my saving I will invest in bitcoins take the advantage of these high volatile prices. I will not keep more than 5% of my savings in bitcoins.

it is an investment because there is not enough places to use bitcoin as currency! not that because they call it property. and as we move forward, the more places and more merchants who start accepting bitcoin for payment this will start to change slowly and there may be more balance between how people use it as investment and as currency.

I am really wondering what would be better for bitcoin price. Consider it as an investment or using it as payment.
When you use it as investment you make the available supply for the others smaller.
When you use it as payment regularly, you increase the demand.
Both ways help to raise the price of bitcoin. My question is what way increses it more.

pooya87

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Quote from: klf on November 22, 2016, 02:51:43 AM

Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

Bitcoin prices are more volatile and no one knows what happens to it in the longer run. So I prefer to invest in property for long term profits than keeping cash in hand. And only some portion of my saving I will invest in bitcoins take the advantage of these high volatile prices. I will not keep more than 5% of my savings in bitcoins.

it is an investment because there is not enough places to use bitcoin as currency! not that because they call it property. and as we move forward, the more places and more merchants who start accepting bitcoin for payment this will start to change slowly and there may be more balance between how people use it as investment and as currency.

klf

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Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

Bitcoin prices are more volatile and no one knows what happens to it in the longer run. So I prefer to invest in property for long term profits than keeping cash in hand. And only some portion of my saving I will invest in bitcoins take the advantage of these high volatile prices. I will not keep more than 5% of my savings in bitcoins.

deisik

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Quote from: S@toshiDirect on August 31, 2016, 11:05:41 PM

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?

I'm not very familiar with the ongoing debates in the US courts about whether Bitcoin should be considered either as a currency or property (as a property right), but I'm not sure that by property you don't actually mean commodity. The reason for me thinking so is that property is basically an attribute that shows or proves that something belongs to somebody. Since you may well expect that bitcoins should be owned, there is no real reason to pit these two notions against each other...

Though I don't think it really matters besides the judicial system

groll

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Quote from: serjent05 on November 17, 2016, 10:33:17 PM

Quote from: S@toshiDirect on August 31, 2016, 11:05:41 PM

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?

I don't think it matter, as for me at the end of the day how we use it define what it is. As of property and currency, I would rather have property that retain its value rather than currency that depreciate overtime. Property depends on its nature may increase or appreciate in value overtime, like if you bought a land and the sorrounding of that land is developed, this land value will sure increase depends on how develop the land is. And in relation to depreciating currency, land tends to appreciate as time fly.

Very interesting topic!currency or property? Of course ill go for property. Currency can loss anytime but property will remain as long as you' re not selling it. Property never fades its value, but of course it was still depends on what kind of property. Some consider bitcoibs as a property but for me it was a currency that i can loss anytime. Investment on property was more practical than putting all your investment on bitcoins.

delliaerd

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Quote from: S@toshiDirect on August 31, 2016, 11:05:41 PM

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?

I think use bitcoin as currency or property is no problem. Bitcoin is worth as currency and property. It is proof that bitcoin is usefull and potential to grow our money. Bitcoin users are use it for payment, you can check out there are some site that accept bitcoin as payment option and there are some service business that accept bitcoin too, although the number of that place is really small.

buwaytress

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Why can't bitcoin be both? Blockchain says that it is currency so we should accept that definition, while the definition of property allows for bitcoin to be seen as such. We're all here after all because we own a little bit of bitcoin or some other crypto, and surely we see it as such the way we view property.

How governments will classify them in time to come will only determine bitcoin's legal implications, not it practical ones.

goldcoinminer

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Quote from: Supercrypt on November 18, 2016, 01:06:29 AM

Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

When a currency is being used for investment for good returns, then the property will get banished over the time when the returns are slowly coming back. This is the promise we are getting from bitcoin ecosystem so we never need to worry about poverty due to lack of currency. Bitcoin will be the right solution but we need to believe into bitcoin to save it for long time.

Actually it depends on how you use your property, if you use it just for a decoration then you will not call it as investment, putting an investment in property is good if you really make it a point that it's gonna produce income. Such property can be use for leasing or renting it and you will be receiving regular income.

Supercrypt

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Quote from: outatime1 on November 17, 2016, 09:54:19 PM

I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

When a currency is being used for investment for good returns, then the property will get banished over the time when the returns are slowly coming back. This is the promise we are getting from bitcoin ecosystem so we never need to worry about poverty due to lack of currency. Bitcoin will be the right solution but we need to believe into bitcoin to save it for long time.

Xester

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Quote from: serjent05 on November 17, 2016, 10:33:17 PM

Quote from: S@toshiDirect on August 31, 2016, 11:05:41 PM

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?

I don't think it matter, as for me at the end of the day how we use it define what it is. As of property and currency, I would rather have property that retain its value rather than currency that depreciate overtime. Property depends on its nature may increase or appreciate in value overtime, like if you bought a land and the sorrounding of that land is developed, this land value will sure increase depends on how develop the land is. And in relation to depreciating currency, land tends to appreciate as time fly.

Yes! Of Course Property! Although bitcoins continuously increasing its price now, i'd rather choose property. we never know if until when was the bitcoins continuously increase nor decrease its price. no one can control of its price. Unlike when you have property, lets say you have lot, the value of lot never gets depreciated but instead of, its value will surely increase someday. and you are secure enough not to lose property except you sell it. unlike bitcoins, you can lose it anytime.

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Quote from: S@toshiDirect on August 31, 2016, 11:05:41 PM

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?

I don't think it matter, as for me at the end of the day how we use it define what it is. As of property and currency, I would rather have property that retain its value rather than currency that depreciate overtime. Property depends on its nature may increase or appreciate in value overtime, like if you bought a land and the sorrounding of that land is developed, this land value will sure increase depends on how develop the land is. And in relation to depreciating currency, land tends to appreciate as time fly.

outatime1

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I think right now you are right that people are using bitcoin as an investment mostly right now but I think that is because the price has not stabilized yet. At some point, I think more people will use it as a method of payment or a way to send money.

Doamader

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Well i do believe currencie may have a better result then property, due the fact you can buy a land, to build a house you will spend a lot money, and to recover such investment you need to rent, considering the financial problems affecting all countries, its getting hard. Bitcoin for other side i do believe it can get easy atleast 40% more into the next halving.

kryptqnick

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Well, for me Bitcoin is rather a value, because when I earn a certain sum, I sell it. It is interesting that there are countries where BTC is considered to be property and not currency in law system. Venezuela is one of them, if I am not mistaking. I think that we can have attitude of property or currency speaking about any particular thing. Gold, gems and even clothes or hair are examples of it.

xdrpx

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When you say Bitcoin is a property, even my fiat currency is my personal property, I own and spend it when I want to. But, Bitcoins are a currency or financial asset no matter what. It has liquidity and can be a medium of exchange, also it can be taxed based on the income earned and if and only if your personal details are tied to it, or else it can't be taxed or tracked reliably. Also a currency can be spent easily in any merchant, but with Bitcoins it may not always be the case, this is same with any crypto currency or online wallet applications that emerge. I prefer the 'Currency' classification no matter what.

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Quote from: pitham1 on November 17, 2016, 10:40:52 AM

Quote from: cpfreeplz on November 03, 2016, 11:25:30 AM

It's a currency. Just because it fluctuates and isn't like any other currency out there doesn't make it any less of a currency. Governments just want to classify it so they can figure out how we should be taxed!

This is true. Governments are looking to classify it in a way that it can be taxed at the maximum levels.
But they are slow to initiate steps on this and courts all over the world are giving rulings on the classification of Bitcoin.

despite the court cases, it is still the government should determine what cryptocurrency. It is unfortunate that no tax Bitcoins can not do in the future. But the positive is that Bitcoin will be used in many areas

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It's just point of view, something have a value or not doesn't matter do you spent it regularly or not. That is individual decision how will someone use it, or that depends just from someones need.
I don't know how to classificate myself in this matter, I gamble a lot with bitcoins I earn, from time to time I exchange bitcoins for my currency cause I can't use bitcoins like money in my county and I need money. For me bitcoin is currency, but probably we wouldn't be wrong if we say that bitcoin can be a property.

Topic: Currency v Property - page 3. (Read 5833 times)