Topic: I think Bitcoin is great as an asset and not as a Currency. - page 2. (Read 1115 times)
All you guys saying it's not good for your currency but also on signature campaigns, what are you getting paid in? I've been using Bitcoin almost chiefly as a currency for almost the entire life of my signature campaign earnings and my currency of choice for gambling here, which is what I'm doing daily almost at bitcointalk. So what are you guys talking about:)
Depends on who you are asking because there are some people that will say it's good for currency as well, I mean it has been used as one back when Laszlo bought 2 pizzas right? I think it's a bit of both because Satoshi's aim was to create a currency that will eliminate the middle man which is the banks.
all currencies have their own weaknesses, if in one country there are too many paper money prints then the paper money will automatically decrease, as well as bitcoin, if bitcoin has been used as currency then the bitcoin price will automatically go down too, I agree with your opinion, we will continue to make bitcoin an asset, so the price will continue to skyrocket..
actually if we look towards inflation I'm not surethat Bitcoin if used as real money will decrease, because we already know that the supply of Bitcoin is limited and it is only 21000000 coins. but the weakness of Bitcoin if used as real money is basically Bitcoin is decentralized and independent besides Bitcoin is also volatile so it is very difficult when we make Bitcoin as real money, we will be confused about what will happen next because of the volatile nature earlier become a scourge because basically we don't know which direction Bitcoin's movement will go up and down. and when Bitcoin goes up or down do we charge the same price for an item as well. of course this becomes a confusion and will be very difficult when replacing Fiat money and original money that has been circulating now that has been circulating for several years even from ancient times it will be difficult to adapt to if Bitcoin is used as the original currency.
and that I think is very difficult to do
I really agree with your opinion, bitcoin is good for assets but not suitable for us to make currency, if we make bitcoin a legal currency, it means that its position is the same as fiat currency, which means it has no value if we invest, and we make it an asset, it's better for bitcoin to remain an asset so we can look for profits in the future..
Bitcoin can be used as both a currency and an asset.
Bitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
I have previously discussed cryptocurrencies such as bitcoin etc., this asset does not deserve to be called a currency but it is better to be called a digital asset because "word choice" affects one's mindBitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
to instill a positive mindset towards cryptocurrency in a newbie in the world of blockchains, we better replace the word cryptocurrency with digital assets
try to imagine if someone mentions cryptocurrency then you imagine someone mentions digital assets, which word makes you more interested?
future asset,, according to my view of bitcoin and I chose why it became a future asset because I believe from time to time the price of bitcoin will be high,,and as long as we keep the number of bitcoins will not decrease in number..only change in value..that which I likeabout bitcoin or any coin..
Bitcoin as an asset is more valuable than currency used for transactions.
The volatility of Bitcoin prices and the high handling fees for small transactions are not suitable for daily transactions.
If you invest in Bitcoin and hold it for a long time, you will get good benefits. The scarcity of Bitcoin and the increase in consensus and demand will affect the value of Bitcoin has risen and will make high profits.
The volatility of Bitcoin prices and the high handling fees for small transactions are not suitable for daily transactions.
If you invest in Bitcoin and hold it for a long time, you will get good benefits. The scarcity of Bitcoin and the increase in consensus and demand will affect the value of Bitcoin has risen and will make high profits.
Bitcoin can be used as both a currency and an asset.
Bitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
I have previously discussed cryptocurrencies such as bitcoin etc., this asset does not deserve to be called a currency but it is better to be called a digital asset because "word choice" affects one's mindBitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
to instill a positive mindset towards cryptocurrency in a newbie in the world of blockchains, we better replace the word cryptocurrency with digital assets
try to imagine if someone mentions cryptocurrency then you imagine someone mentions digital assets, which word makes you more interested?
No Saylor didn't tweeted it but with the speed they are accumulating it won't be a shock that they own 20% of Bitcoin supply and let us assume he doesn't do that but anyone can do that if they have money, if a person i really really really rich then sure he can buy 20% of BTC and that's not fair to other people,
See tbh I also don't know am I right or wrong I just had a thought and wanted people's opinion what I am thinking is right or wrong, but trust me HODLING BTC is not a good thing ONLY IF YOU WANT IT TO BE A CURRENCY, otherwise if you treat it as a Digital Gold which was it meant to be then HODLING is not at all a issue.
See tbh I also don't know am I right or wrong I just had a thought and wanted people's opinion what I am thinking is right or wrong, but trust me HODLING BTC is not a good thing ONLY IF YOU WANT IT TO BE A CURRENCY, otherwise if you treat it as a Digital Gold which was it meant to be then HODLING is not at all a issue.
People will not be holding Bitcoin if it has no value and if everybody is thinking that it will not pump again and will soon be zero in value. You see, a big number of Bitcoin holders are speculators and no speculators will wish that what he is holding will be going down...it is always up and if that is the case then a person will surely continue to be holding that coin or Bitcoin.
The problem is that if Bitcoin has no chance to go up, I don't think there will even be 5% pf the holders will remain holding it and I don't think either anybody will be excited about it. Bitcoin's volatility is a two-edged sword repelling some people and attracting a bigger number into it. Is it good as an asset and not as a currency? Maybe yes and there is actually nothing wrong with that because that is not the fault of Bitcoin...that thing is being decided by us the people. And who knows what the future may bring...
Bitcoin can be used as both a currency and an asset.
Bitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
Bitcoin is a peer-to-peer electronic cash system, created to serve as a currency to solve current transaction problems. Some countries allow the use of Bitcoin to buy and sell goods, and El Salvador also uses Bitcoin as legal tender.
Bitcoin is decentralized and will not be controlled and regulated by the government. Many people like to take charge of personal assets and choose to invest in Bitcoin. Bitcoin also has special features such as scarcity. The total amount is fixed and cannot be issued at will. When people's demand increases, the value will generally increase, which is more suitable as a storage asset.
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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.
why not ? i have been using my btc as currency to buy and pay if money and other currencies is not available but at the same time it was my asset for investment . btc was introduced as a currency and that wont changed even if many are using their btc only as an asset .
you better try using your btc more in payments or for buying and you will soon appreciate its other side .
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I read somewhere they are planning to buy 20-30% of the Bitcoin’s market supply
Even if this was to be true, I don't think I would be comfortable with one entity holding this much of the overall BTC supply.
Bitcoin today is both an asset and a currency. Due to price volatility and high handling fees, Bitcoin cannot be used as a currency in daily life. As a means of payment, it has not yet been widely accepted. Bitcoin may now be more valuable as an asset, and many people buy Bitcoin and profit from it. However，In El Salvador, Bitcoin is the country’s legal tender, so Bitcoin can be called a currency in El Salvador.
And you say so.
But I was hoping for huge changes in the next few decades (that gonna be too long to wait).
And those countries who ban crypto, will soon to get back.
But I was hoping for huge changes in the next few decades (that gonna be too long to wait).
It might be arguably like this. The problem is, so far there are still many countries that do not legalize Bitcoin as a means of payment. Likewise in my country, where Bitcoin is only legal as commodity assets, for trading and investment with the risk of being borne by themselves. However, if used for payment instruments it is not legal.
And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
It should be in gradual market adoption, the development isn't so fast as we can't deny that the majority are still living in the doubts about Bitcoin. However, we are good to know that some countries are giving their full support by legalizing Bitcoin. It is already an indication that we heading for better and bigger market support unlike before. And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
And those countries who ban crypto, will soon to get back.
Once those countries portray successful implementation of bitcoin as legal tender, many countries will follow their journey. Right now, it is too early to tell as they are just starting to integrate it in their system. And because of volatility aspect, many btc holders prefer it to be an asset rather than a means for payment. Which I can totally understand, as I only spend btc if necessary. If not, I prefer it to store in my wallet. Maybe if the value will be stabilized in the next coming years, many people will use it for payment options.
And you say so.
But I was hoping for huge changes in the next few decades (that gonna be too long to wait).
And those countries who ban crypto, will soon to get back.
But I was hoping for huge changes in the next few decades (that gonna be too long to wait).
It might be arguably like this. The problem is, so far there are still many countries that do not legalize Bitcoin as a means of payment. Likewise in my country, where Bitcoin is only legal as commodity assets, for trading and investment with the risk of being borne by themselves. However, if used for payment instruments it is not legal.
And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
It should be in gradual market adoption, the development isn't so fast as we can't deny that the majority are still living in the doubts about Bitcoin. However, we are good to know that some countries are giving their full support by legalizing Bitcoin. It is already an indication that we heading for better and bigger market support unlike before. And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
And those countries who ban crypto, will soon to get back.
It might be arguably like this. The problem is, so far there are still many countries that do not legalize Bitcoin as a means of payment. Likewise in my country, where Bitcoin is only legal as commodity assets, for trading and investment with the risk of being borne by themselves. However, if used for payment instruments it is not legal.
And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
And all this time I personally also have never used it as a payment tool.
Maybe this will be different in several other countries where it might be legal so that it is used to using BTC as money.
Honestly I also agree if bitcoin is called an Asset and not a currency because bitcoin has a price that often goes up and down too far so the holders will benefit if the bitcoin price goes up and if the bitcoin price goes down the holders will suffer losses. We can't use Bitcoin as a payment tool around the world and bitcoin also doesn't have a form that we can feel in the real world so bitcoin is less supportive if it's called a currency.
Well, each of us has references on how to manage our portfolio and if you think your bitcoin is worth it pay online in any merchant, it is up to you. Why we can't use our bitcoin as a payment, it depends on us if you are willing to spend it or save it for storing value purposes, --that is the beauty of cryptocurrency, it could be your valuable asset and it could be used as an alternative to fiat currency. So the question of OP was a matter on which you are preferred.
Bitcoin is really a great asset for investment purposes. But it is still not an ideal currency for all kinds of payments. Because there are still some scalability issues which hinder it from being used widely.
for me, Bitcoin is a great asset and currency...Many people think that only those that have stable prices deserve to be called currencies. I don't think so, Bitcoin is still a currency as satoshi originally created it. but because more and more are bought, Bitcoin becomes an investment asset too.
Although the altimate aim of Satoshi is inform of a currency but due to it volatility and price, it would be hard if it's accepted generally as a currency. Because of it limited circulation, there is no need being a current acceptible by all but can still be used for transactions and payment services. Bitcoin is still a means investment till today.
Honestly I also agree if bitcoin is called an Asset and not a currency because bitcoin has a price that often goes up and down too far so the holders will benefit if the bitcoin price goes up and if the bitcoin price goes down the holders will suffer losses. We can't use Bitcoin as a payment tool around the world and bitcoin also doesn't have a form that we can feel in the real world so bitcoin is less supportive if it's called a currency.
I agree, I think making bitcoin a currency is very difficult during fiat like USD, because we always estimate bitcoin with USD, it proves that actually we can't leave USD, but we are also happy to be in bitcoin, I prefer to call it a means of investment and business.
Bitcoin is definitely a very good investment at the present time. But since it's designed to be a currency, then it should have more good developments so that the government will start acknowledging it as a currency. For me, bitcoin is making its own way to be a currency in the near future. Japan and El Salvador can prove that. But for now, let's just seize the moment and enjoy it while bitcoin is still considered the best investment online. The profits is certainly incomparable from other source of investments. Jump to: