Topic: I think Bitcoin is great as an asset and not as a Currency. (Read 147 times)

Yes i agree, BTC is a great asset..Another great project in my opinion is Welthee.

There is only strict and stable Satoshi's protocol of Bitcoin >> this is pure commodity (and must be used as a data ledger)

all others are derivatives and central managed air drops - interesting

The main issue with what you've said in that paragraph is the fact that you've combined both the asset part ^[hodlers] and the currency part ^{[normal usage]}. If someone truly uses BTCitcoin as a currency, then such problems wouldn't exist in the first place.

It will never come close to being centralized ^{[even indirectly]}; Regardless of the amount someone has accumulated, take some ^{[not even all]} of the parts that help the network to function properly out of the equation and all of those accumulated BTCitcoins becomes pretty much worthless ^{[that wouldn't be the case if it wasn't decentralized]}.

As much as I would love to see everyone using it as a currency, most aren't ^{[especially most of the newcomers]} while as for the rest, some of them use it for both and a small percentage ^{[based on what I've seen]} use it as a currency only ^{[like me]}.
^{- It's a dynamic world, so both of those coexists.}

Despite the inherent risks, cryptocurrencies and the blockchain industry are consistently growing stronger. Much-needed financial infrastructure is being built, and investors are increasingly able to access institutional-grade custody services. Professional and individual investors are gradually receiving the tools they need to manage and safeguard their crypto assets.

For me I prefer holding bitcoin and cryptocurrency over fiat, what do you think makes fiat a valuable asset? We see how fiat currencies lose their value over time and lose their purchasing power due to inflation, while cryptocurrencies on the contrary, although they are volatile and unstable, but their value is constantly rising. Look at the fiat chart compared to the cryptocurrency chart ten years ago until now and you will find the difference is clear, currencies Encrypted keeps the value of financial assets much more than fiat so holding bitcoin is the best.

I really don't agree with your thoughts that Bitcoin is a great asset and not a currency. The main reason many are holding on to Bitcoin is because it could be the currency of the future where governments make it a full legal tender and it becomes a mode of payment. Unlike Ethereum on which smart contracts and other crypto projects can be run, Bitcoin facilitates only P2P payments and that P2P payments is what gives Bitcoin its value. Hence, assuming that Bitcoin is only great as an asset and not as a currency is an irony in itself.

1. If you make a topic on Bitcoin, but you start with shilling DeFi you already lost credibility.
2. Although right now Bitcoin indeed looks better as an asset, it's undeniable that it can be used as a currency and that direction too has a future that should not be ignored. We certainly can and will continue to have both.

the point is that it's wrong.. if we don't know anything about bitcoin, that really can improve the financial side, and can take advantage of the advantages.

From a legal point of view, if it is already legal in the country... as an asset or as a currency, it certainly will be worth it.

You have an insightful thought about bitcoin as a currency and as an asset. But it won't change no matter what the big players will buy it, they'll look at it as the greatest asset that they can ever take.

And as an individual, it's not a problem if we're going to use it as a currency or as an asset. As long as you have bitcoin and you're holding it or using it for your purposes, that's all what matters. Because it's made for everyone in any class of society to be used as a currency or an asset.

it depends on you actually  some people says it will replace the currency but from my opinion bitcoin be more like asset but with some plus+ side that can use as currency also

That's already the case with fiat currencies. Most wealth is held by a handful of individuals which enables them to passively accumulate even more wealth.

To make matters worse though, you also have a centrally controlled monetary policy that, in the best of times, further enables the wealthy and in the worst of times, completely debases the currency for everyone else. And sometimes even both.



Of course fiat currencies are also held. It's just that the majority of people have to spend their money for everyday needs which makes the holding of monetary assets by the more wealthy populace less visible.



So far it looks like we do though.

Hello everyone so first thing I believe in crypto and it is one of the best thing and de-fi is a revolutionary idea and I really love it. So everyone including me thought Bitcoin should be used as currency but after a period of time I realised something and I am just sharing with y’all to know if you all agree with me or not.

So recently we see Micro Strategy is buying and buying bitcoin and they are trying accumulate more and more and I read somewhere they are planning to buy 20-30% of the Bitcoin’s market supply, yes this information might be wrong but someone else who is rich can do this anyone with money and can accumulate bitcoin.

AND YES IK THEY HAVE STATED “ THAT THEY WILL NOT SELL BITCOIN FOR 100 YEARS”

So the problem with declaring or using Bitcoin as a currency is that it Is not good for the economy of that country if they have a currency which very limited, limited than gold as their currency and Bitcoin is a currency which rich people can afford, and yes I know we can buy bitcoin with even 10$ but that is not the point, the problem is that there is a rich person out there who is holding a really great % of bitcoin just because he/she has stated that they won’t sell bitcoin for 100 years you should not base your whole economy on that because it’s like putting a sword on your head what I they change their mind and start selling, a person who has 10$ worth bitcoin will become 1$ and you and me both agree that is bad for both country and people residing in it. Yes it will be temporary but no no one will know when will bitcoin restore it values and that can mess with government’s and people’s dream.

And one more thing if a person is a trying to accumulate more and more bitcoin then indirectly it will be centralised and we will just hope that they don’t sell and just ask your self do you want to depend on other people for your destiny.

And to be honest I don’t like the concept of HODLING because it is a CRYPTOCURRENCY not a CRYPTOASSET, assets are meant to be hold and not currencies, Do you store use no right you spend them on things you love and buy it and that makes a country’s economy stable because their currency is trading each and every day, use, yen, euro, etc are regularly circulating and no on is holding it.

Conclusion:

It depends on us what we want to shape crypto in a long term as an asset or as a currency, but we can’t have it both.

See I am just sharing my thoughts and want your opinion on this that do you agree with me or not.