Is Bitcoin a currency or asset? - page 47.

Zenithar

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Quote from: jennywhzz on October 10, 2017, 12:33:32 PM

It is legally a commodity, Florida court determined it during the Cryptsy case. This met whatever terms the courts desired for the case to proceed as they desired. It is fully documented, but is a 80 page read. This falls tax-wise more toward an asset.
The Bitcoin is a currency but right now most people use it as a commodity.

Bitcoin is both, currency and asset, because anyone can use bitcoin anywhere in the world and purchase his needs from any country. It means that bitcoin is a digital currency. On the other hand people have earned and are earning lots of profit while investing in bitcoin. It means that bitcoin is an asset. Your business is your asset and bitcoin is a digital currency business. Therefore it is also an asset.

DimaS1574

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it depends on your attitude to bitcoin and how do use bitcoin, for me bitcoin is an asset, because I use my bitcoins to increase my budget

jennywhzz

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It is legally a commodity, Florida court determined it during the Cryptsy case. This met whatever terms the courts desired for the case to proceed as they desired. It is fully documented, but is a 80 page read. This falls tax-wise more toward an asset.
The Bitcoin is a currency but right now most people use it as a commodity.

Jgatsby

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Pretty kewl right?

Since Bitcoin is Decentralized, most countries don't have a rules about it but some countries Developed a Bitcoin Taxation, but it differs depending on you jurisdiction. The European Union consider BTC as a currency, in United States of America and Australia they consider it as a property or an asset, and in Japan it is asset-like value. So in the end it depends where you live, just to be aware try researching about the rules implemented/developed in your country.

mukeymon

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Quote from: sonewaneaman on August 18, 2017, 03:28:36 AM

Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.

I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/

What's your opinion about BTC as a currency or an asset?

Suggestions and comments appreciated

Bitcoin is both currency and assetasset of each person . You use the money to buy bitcoin. Then you use bitcoin to exchange and buy. But you can also store it in the future and it's profitable for you

iyan33

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bitcoin is a digital currency that works like a real currency may only use different, but for now bitcoin is more likely to be made as an asset because of its high value so that many of the users who use bitcoin for business purposes because of course very profitable for all users .

milandres0207

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i think it's both, because yes, we all know that bitcoin is a kind of digital currency, but if you convert it to your local money and the value is high or you have a big amount of bitcoin we say that it is also an asset. because asset is something with value and can use or purchase like bitcoin can did.

arbelian

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Quote from: sonewaneaman on August 18, 2017, 03:28:36 AM

Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.

I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/

What's your opinion about BTC as a currency or an asset?

Suggestions and comments appreciated

Bitcoin is a currency, digital in particular. Right bitcoin prices is too volatile that no one can predict how it will flactuate the market.

franco123

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Quote from: sonewaneaman on August 18, 2017, 03:28:36 AM

Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.

I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/

What's your opinion about BTC as a currency or an asset?

Suggestions and comments appreciated

I get your point and I commend your research and analysis as well. However, in my opinion, Bitcoin is actually both a currency and an asset.

1) Bitcoin as a currency - Bitcoin is classified as a cryptocurrency because it is actually is a currency with its own rates that changes from time to time. And also, it's price is being compared with the fiat currency and can be exchanged like forex.

2) Bitcoin as an asset - Because as an asset, Bitcoin generates income and is part of the net worth of the individual. And also, as a currency and like.other currency, your money in any form of currency is considered as your asset as well.

ethereumhunter

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Quote from: neowebwallet on October 09, 2017, 08:03:34 AM

According To Forbes

Bitcoin Is An Asset, Not A Currency

Over the past year and a half Bitcoin has been on a spectacular run, rising in value 140% in 2016 and now an additional 49% in just the past month. This surge in value has invigorated Bitcoin backers convinced this boost in value makes Bitcoin a more credible currency, that it is a sign of the cryptocurrency’s strength. Yet the wild swings, both up and down, in the value of Bitcoin do not make it a more plausible substitute currency; they make it a speculative asset, a get-rich-quick scheme.

Is Bitcoin the currency of the future? No
There are 2 big problems with bitcoin as a currency: its value is unstable & its transaction processing is too slow.

buy bitcoin online

maybe now bitcoin is not a currency and it is an asset but i think bitcoin can be a currency in internet because bitcoin is available with the internet connection. i think that in future, the bitcoin price might be stable so bitcoin will be an asset and a currency in the same time but to make bitcoin like a currency, there is more things that we should do than just stabilize the price and the processing of the transaction.

neowebwallet

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According To Forbes

Bitcoin Is An Asset, Not A Currency

Over the past year and a half Bitcoin has been on a spectacular run, rising in value 140% in 2016 and now an additional 49% in just the past month. This surge in value has invigorated Bitcoin backers convinced this boost in value makes Bitcoin a more credible currency, that it is a sign of the cryptocurrency’s strength. Yet the wild swings, both up and down, in the value of Bitcoin do not make it a more plausible substitute currency; they make it a speculative asset, a get-rich-quick scheme.

Is Bitcoin the currency of the future? No
There are 2 big problems with bitcoin as a currency: its value is unstable & its transaction processing is too slow.

buy bitcoin online

w5pn73

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Quote from: UsernameBitcoin on October 08, 2017, 01:15:14 PM

Bitcoin is a digital currency, and an asset generally speaking. You would need to claim it on your taxes as an asset, that is for sure. And some countries have not recognized it as a currency, but it really is.

If it's a currency, then it for sure is a very expensive currency with expensive and slow micro transactions ,

sparveenat

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Bitcoin is not a currency nor asset it is a crypto currency

But if you own the Bitcoin with your surplus money and you hold it can be a big asset for you as if you see the performance of its past and current rate

zeingrind777

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Quote from: sonewaneaman on August 18, 2017, 03:28:36 AM

Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.

I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/

What's your opinion about BTC as a currency or an asset?

Suggestions and comments appreciated

Same as with GOLD. As an investment asset, you can not come to a store with your gold bullion, there will be this process at a considerable cost if you want to pay for a product or service using gold bullion. This seems to apply to Bitcoin.

Mr_odd

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Quote from: Pierre 2 on August 18, 2017, 04:20:54 AM

I think it is store of value like gold and at the same time currency, similar to fiat money.
This makes bitcoin superior than both of them as well.

I agree entirely. This is how i see bitcoin in the world market and i think that in time it will be the case

bpc78

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Quote from: sonewaneaman on August 18, 2017, 03:28:36 AM

Bitcoin’s very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.

I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/

What's your opinion about BTC as a currency or an asset?

Suggestions and comments appreciated

Bitcoin is an asset which has value and can be use in trading ansd in investment. Bitcoin is not yet a currency because there are many countries who are still not familiar with bitcoin.

justdimin

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Quote from: chickenado on October 06, 2017, 02:53:12 AM

Quote from: fishbonez11 on October 06, 2017, 02:42:54 AM

Technically speaking, bitcoin is a currency. It is a decentralized digital currency. But when we speak of its value, I can also say that it is an asset because of how its price appreciate overtime.

It really is a currency for it holds a lot of different currencies itself however, it can be also called asset at the same time due to its significance of the ownership of investor's property within a particular establishment regardless of the price that it has. Though it has an unpredictable status that may drop its value at times but then we always make sure that we meet the value onwards through using other coins or the rest of the bitcoin for trading or holding.

Currency or money is a way to buy things so yes in hat way bitcoin is a money and it is just in digital form. Due to this, it is easy to use than fiat but there is one little problem that its not mainstream yet. However, things are going to change in the future and by watching the present progress, we can say it with certainity. Its also called as a digital asset because of the volatility and profits it gives but for me it is a currency that grows up continuously.

emberbekas

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Bitcoin and any other type of cryptocurrencies will remain as an asset for me. I use it as a currency only on a rare occasions, like in an urgent condition and I have to top up my mobile phone. There are only few things that I can buy with cryptocurrency here in my place so far.

hahay

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I think bitcoin is a currency is also a very valuable asset and has many benefits for its users. I can assume like that because bitcoin can be used for payment tool and it is also very profitable to just keep it, so bitcoin is also a very valuable asset to have. I'm very enthusiastic about bitcoin because it now has a very high value, but I also will not leave bitcoin even though the price is very low, because I've felt such a moment.

UsernameBitcoin

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Bitcoin is a digital currency, and an asset generally speaking. You would need to claim it on your taxes as an asset, that is for sure. And some countries have not recognized it as a currency, but it really is.

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