Topic: I noticed everyone is treating bitcoin as if is a product (Read 834 times)
I think many places and people are treating it as different which is what is making everything so confusing. I personally treat it as a currency and say that we exchange it like you would exchange any other currency. I think you may always get someone who will treat it as a product but I personally do not see how you can because you are paying for something which is also technically the same thing you just want to exchange it over to some other currency.
Yes, cryptofan5 this is happening. But a lot of Bitcoins´s owners fell the same althought they said that for them BTC is money.
For example If I am a owner of a house (a product) and I want to sell it, I can ask that I want because this house there are only one and maybe is better as other similar and is builded with better materials, or I think that properties go to up, ...
Some people do the same with the BTC. They don´t sell at the price of the concurrency. They sell at one price different (normally higher) because they say that the price is devaluate or others things.
If I want change USD for Euros you can´t say it: well I sell more higher as the market price because I believe that the price is very low. When the owners begin to use the BTs as money maybe all the people think to it as money.
This is that I think.
Regards
For example If I am a owner of a house (a product) and I want to sell it, I can ask that I want because this house there are only one and maybe is better as other similar and is builded with better materials, or I think that properties go to up, ...
Some people do the same with the BTC. They don´t sell at the price of the concurrency. They sell at one price different (normally higher) because they say that the price is devaluate or others things.
If I want change USD for Euros you can´t say it: well I sell more higher as the market price because I believe that the price is very low. When the owners begin to use the BTs as money maybe all the people think to it as money.
This is that I think.
Regards
Different governments are taking different approaches at the moment.
The UK seems to be looking to treat Bitcoin as a currency:
http://www.wired.co.uk/news/archive/2014-03/03/hmrc-cryptocurrencies
The UK seems to be looking to treat Bitcoin as a currency:
http://www.wired.co.uk/news/archive/2014-03/03/hmrc-cryptocurrencies
Last week the tax office in Australia announced that bitcoin is an asset, not a currency. So, it is a product as far as they are concerned. But anyway, I do not see any problem with "buying" bitcoins as we also buy dollars for euros, etc.
Ok so I realized today many are saying I bought a bitcoin, we shouldnt say bought unless you wanna treat it like a product, the proper way is to say I exchanged fiat into bitcoin. Am I right?
proper term is exchanging not buying
proper term is exchanging not buying
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