Is Bitcoin a currency or asset? - page 61.

Palmier

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It depends of the legislations of each country, and so does the taxes you have to pay or not ! For exemple, in Japan it is a currency, so you have to pay taxes on it, but in several countries, it is an asset, just as a rock, on which profits can not be taxed. What I recommend you is to take advantage of this situation while it still lasts !

SvenBomvolen

hero member

Activity: 588

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Quote from: sonewaneaman on August 18, 2017, 02:28:36 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 was comenting this question already, as i remember. Don't know why do you epeat yourself and ask the same thing second time? Is it going to be the same topic the third time as well? Grin

Bitcoin has sides as of currency and asset all together. I am not shearing it. Different people use it on different way and there is nothing new in that.

gundala

full member

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In my opinion, bitcoin is an asset. Why is that? Let's look at the bitcoin price when it first appears. Has not it gone up many times now? So making bitcoin as an asset is a very appropriate choice.

CARrency

sr. member

Activity: 546

Merit: 256

Quote from: sonewaneaman on August 18, 2017, 02:28:36 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 take it as a asset than being a digital currency. First off because bitcoin is mostly or widely used to invest their money and make theirselves profit. I think some use it as a payment and the minimum use it as a wage or bets on gambling sites or casinos. I am not that good in investing but I put some of my bitcoin in a wallet and save it.

erickkyut

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For me, Bitcoin is not yet a currency because it is not yet legally accepted worldwide but it is certainly an asset. It has value that's either appreciate or depreciate depending on the market. I think in the near future, Bitcoin can considered a currency once legalized.

talkbitcoin

legendary

Activity: 1372

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All I know is that I know nothing.

the best answer i can give is that bitcoin is a currency on rout to be adopted.

this means the price will remain volatile as more people adopt bitcoin and make it go up. and this will probably last at least another 5 years. SegWit and LN will most probably speed this process up because it is the end of scaling debate and moving on with it. and also because it increases the capacity and allows faster transactions through LN for those who want it. this can potentially make bitcoin a serious competitor for payment processors and banks as a currency.

serjent05

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I believe bitcoin is both a currency and an asset. Since the previous reply defines what an asset is and bitcoin fits it if you do not consider it as a currency. But if you read the whitepaper, it is intended to be a digital currency where people will have a freedom in transferring money without this third party called banks. And indeed we can transfer bitcoin without banks but we cannot convert it to fiat currency without banks unless we want to exchange bitcoin to fiat currency face to face.

ajmapalo22

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Activity: 266

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When we say asset in accounting it is something with value and can be converted into fiat and bitcoin really qualifies as an asset, the only issue is that is this an asset considered to be investment or a currency that is highly liquidate. For me bitcoin is an asset that is readily available anytime you need it..It was just that it's value is never fix because of fluctuations but still it can be used anytime you want like a normal currency does.

Juggy777

hero member

Activity: 2646

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Quote from: sonewaneaman on August 18, 2017, 02:28:36 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

If you really want to know what's a asset and liability you should see Robert kioski rich dad vs poor bad, so to quote him and explain you asset is what brings you money and liability is what takes money out of your pocket, so your car house is a liability, you can't make money from it. You need to keep on investing. Now look at Bitcoins, you put money into it and it returns that money and also adds more money to your account so it's a hybrid it's a asset and it's a currency. That's how I would define it.

Pierre 2

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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.

wellsontheja

full member

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For me bitcoin is both
It's be my asset when i do trading but mostly i use that as curreny

severaldetails

hero member

Activity: 959

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Quote from: sonewaneaman on August 18, 2017, 02:28:36 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 think that the original idea of bitcoin was to transfer money, so to be a currency.
In the first years bitcoin could serve that idea.
And although the design is still the same, the way people use it has changed.
It would be really interesting to know how efficient it still is for shops to offer payment acceptances with bitcoin.
Let's be honest, who sells bitcoin right now if he is not in urgent need of money. Or uses it as a form of payment.
Bitcoin right now is clearly an asset, an investment.
How far this developement will be positive for bitcoin will be seen.

I see two possible scenarios:
Bitcoin becomes something like gold. Nobody pays with gold, but it has its value.

Or:
The strength of bitcoin is that it was used as a form of payment in the economy.
When it is not used for that anymore, how is it different to all those altcoins?
How will the price react when an investment loses its biggest strength?

krishnapramod

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Quote from: sonewaneaman on August 18, 2017, 02:28:36 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 has attributes of both a currency and asset, store of value, unit of value, divisibility, durability, fungibility, and verifiability. Because of volatility, right now bitcoin isn't a reliable medium of exchange, but in future as it becomes more stable it would be widely used as a currency.

Bitcoin as an asset, store of value. It is different from traditional asset classes in the sense it is not correlated to other assets. So bitcoin is a new asset class.

Gens09

sr. member

Activity: 434

Merit: 250

Quote from: sonewaneaman on August 18, 2017, 02:28:36 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 guess,it could be both. Bitcoins could be a currency and an asset. It could be a currency because it transfers funds online and is easy to use. It could also be an asset but I may say that you would need time for all.

klf

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Quote from: josephpogi on August 18, 2017, 02:46:10 AM

For me currency and asset is same . bitcoin is asset becuase many people keep it for their future money and because of this value people use this to buy anything that they want like paying bills or buy a stuff . bitcoin is currency becuase bitcoin give a profit to us .

Currently, in most countries we can't use Bitcoins directly to buy things either in any shops or online as well so I think as of now Bitcoin is only an asset or investment. If we need money then we need to sell the asset and use that money to buy other things. When we can buy things directly with bitcoins then we can consider it as a currency until that it is an asset. I know currently, we can use Bitcoins to buy some items online but still need to improve or grow a lot.

josephpogi

full member

Activity: 434

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For me currency and asset is same . bitcoin is asset becuase many people keep it for their future money and because of this value people use this to buy anything that they want like paying bills or buy a stuff . bitcoin is currency becuase bitcoin give a profit to us .

Markistrue

newbie

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Well, I also see that bitcoin will be one of the most widely used currencies in the future. Because with the many advantages that are much better than the other currencies give the bitcoin a very big opportunity to be popular and used, even now I get the information that BAnk swiss in general sell Ethereum, bitcoin and bitcoin cash to its customers. So, we see in the future will definitely be much bigger

sonewaneaman

newbie

Activity: 45

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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

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