Is bitcoin an asset or a currency? - page 7.

gwestcot

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Quote from: coinnoo on April 04, 2018, 06:35:29 PM

Quote from: StevenRA on October 25, 2017, 04:01:08 AM

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.c[Suspicious link removed]m/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

Your comment is very good. I agree that Bitcoin is a currency that needs approval from the government of that country. If accepted, Bitcoin must fully comply with legal requirements, it is obvious that Bitcoin will be the currency that is created, used, and circulated legally. But if Bitcoin is only done through personal transactions without government (non-taxable) government, this is a kind of asset.

Well what makes it not a currency is the lack of stable valuation which is caused by a fixed supply cap and block halvings. This ensures that if there is an increase in demand there will always be an increase in price. Deflationary measures do not provide incentive to actually spending Bitcoin to purchase goods but rather to hoard and speculate. In its current format, Bitcoin will never I repeat never be a currency but rather just a speculative asset.

coinnoo

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Quote from: StevenRA on October 25, 2017, 04:01:08 AM

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.c[Suspicious link removed]m/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

Your comment is very good. I agree that Bitcoin is a currency that needs approval from the government of that country. If accepted, Bitcoin must fully comply with legal requirements, it is obvious that Bitcoin will be the currency that is created, used, and circulated legally. But if Bitcoin is only done through personal transactions without government (non-taxable) government, this is a kind of asset.

coinnoo

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Currently, depending on which country Bitcoin will be that currency or property. If in countries that agree to use Bitcoin as a trading currency, Bitcoin will be a currency, as in Japan. But in some countries that prohibit Bitcoin trading, Bitcoin is just an asset, a special commodity. When Bitcoin is recognized in many countries, Bitcoin will be seen as a more dominant currency than traditional money.

gwestcot

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It is more of a failed attempt at a currency and now just an asset. Deflationary model is a failure just as much as an inflationary one. The key is finding a perfect harmony between the two.

reck1ess

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Basically it is both asset and currency. You can use bitcoin as a currency also the value of it is going up and down but eventually it will go up and it would turn out as a currency.

sangungaji

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Quote from: StevenRA on October 25, 2017, 04:01:08 AM

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.c[Suspicious link removed]m/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

bitcoin is an asset and method payment. maybe in future bitcoin can to be a currency.

svetochka.yakovleva.93

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Of course bitcoin was and will be an asset, I do not think that it is considered as a currency which can be paid in stores. Can only if in the distant future.

Kadal Ijo

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I think bitcoin can be said to be an asset and a currency, we say assets because all the characteristics and types of assets are on bitcoin, more precisely a digital asset so we can easily store and move bitcoin does not even cost a lot like moving assets such as factories or other assets .

olyolali

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I think bitcoin is more likely to lead to long-term assets because bitcoin proves to be a profitable money-investing place for the present and it's not impossible that bitcoin becomes currency if bitcoin prices stabilize
so for now bitcoin is an asset and yet can be said as currency

Antivoid

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Bitcoin is not a currency, at least now is not, many governments have announced this and the price of bitcoin is not stable, it wave so much that it cant be a currency, only the users become too many and the price be stable can bitcoin be a currency

vergel24official

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Digital asset.The ecosystem may change overtime but as it currently stands, bitcoin is mainly us as gateway into the asset class dubbed Crypto currencies. Within the asset class you'll find a variety of individual currencies, assets, start-ups, business transactions , technological research experiments, scams, black market trading, basically a global economy that runs to in parallel but almost completely independent of the other ecosystem.

nandamo

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Quote from: StevenRA on October 25, 2017, 04:01:08 AM

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.cnbc.com/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

I considered it as an investment or an asset rather than currency.

tamarindbleu

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Quote from: Desperaboss on March 31, 2018, 01:35:51 AM

At the moment it is an asset. To be used as a currency it has to reduce it´s volatility as well as it´s transaction fee and it has to increase it´s transaction speed. Most important though is the classification as a currency from government institutions.

Well for me, bitcon is really a currency but a lot of people in this world is adopt that bitcoin is also a great investment, that's why right now bitcoin is uses as a asset and not a currency, and also for me bitcoin is really an asset because it can gives a lot of people to make profit.

taxmanmt5

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Quote from: samantadegrenet on March 31, 2018, 01:48:02 PM

I think the bitcoin is an asset and not a currency. It is not at all easy to use as a currency while it is suitable for investment.

Mostly people at the current time, use bitcoin as an investment but in reality bitcoin was made to be treated as a currency which should be used in the sale and purchase of goods. Since not many people use bitcoins these days , therefore those you have bitcoin has no options but just to use it as an investment purpose.

mikomiki

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There are 2 big problems with bitcoin as a currency. Its value is unstable and its transaction is too slow. Bitcoins are not to use as a currency, but to either speculate on their asset value or use them to shield transactions from others.

pletnevihor

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Since Bitcoin works correctly only about the full consent of all users, changing the protocol can be very difficult and will require the adoption of changes by the vast majority of users, so that the rest of the users will have nothing else but to follow them.

mafitjulit

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The currency is not at the G20 summit it was clearly said that the Crypto currency is not a currency or a way of payment, it was also said that the use is not prohibited, so it can be an asset

Xenoph0bia

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Presently, bitcoin is an asset which is heading towards being a currency. Firstly, bitcoin is not accepted everywhere and is not even legalised in some countries. To be a currency it has to gain acceptance.
Also, the main feature of a currency is its stability. A stable currency shows a strong market. Whereas, Bitcoin is too volatile.
Bitcoin currently is used for trading and as an investment but has the potential to be a currency by being accepted in some companies as a mode of payment.

Remat34

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We can say it goes either way round. It is atype of currency referred to as crypto. Looking at it in the long term, it can be seen as an asset in the long run

panjay

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in my country it's better to treat it like an asset, because govt will ban and arrest people who used it for currency and that's already happening in some of part of nation like BALI,

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