Topic: Is bitcoin an asset or a currency? - page 2. (Read 1134 times)

Exactly, though it has characteristics of currency, and you can use bitcoin as a payment method but it varies from country to country, In some countries, products cannot be purchased with Bitcoin or Bitcoin is not accepted as a payment method. So in these countries Bitcoin will only act as an asset because they cannot use it as a currency. Many countries have Bitcoin ATM booths and they support credit cards, in which case they can use Bitcoin as currency and assets.

Why not both? Bitcoin is an asset and a currency. For many people it is a bad currency because it is not as fast as credit cards but it is a good asset because it has been going up since its creation. USD is an asset too because FIAT is an asset. USD is a bad asset because it loses its value over time but it is a good currency because it is fast. (and anonymous when you pay with physical bills)

For most bitcoin is becoming an alternative to financial assets to provide high profits in the long run as you would see people stacking up more and more rather than spending as it's fine because everyone wants to have huge profits and with future speculation of $100k people are not willing to waste them.Mostly many still don't accept btc so hard to find the shops and stores accepting bitcoin payments which is why you see less use case of it as mode of payment.But in future it will be seen.

Dating back to history, bitcoin's original purpose was as a medium of exchange though it can now serve as an asset and investment.
An asset is a useful or valuable item, Bitcoin is both useful and valuable which guarantees it to be an asset,
 A currency is a generally accepted money with assured quality and value, now Bitcoin as a  currency like you've rightly say depends solely on the country, most countries are yet to fully adapt Bitcoin as a medium of exchange, to those persons you'll term Bitcoin as just an asset.

My opinion though and am open to corrections

I see Bitcoin as an asset myself. However, it's true, BC can be both.

I can treated Bitcoin is both of asset and currency even though in my country it's not legal tender. Being illegal but i am able to utilize it properly for many purposes in my life, so that i can it property and a currency. Even binance and some crypto exchange launched p2p trade for crypto to my native currency.

I think this fully believe on trust. As huge investment came in this market which is 2T cross we can say anything this BTC. BTC may be rejected in any country but no can vanish 2T market cap which cross GOOGLE market cap. So simply i will say it is my asset and if I save BTC, in future it will be my wealth. 

If you want to use Bitcoin as an asset, you are free to do so same as using it as a currency. You can also use it as a savings account. Bitcoin is financial freedom which is why it can be used for different purpose while still been in control of your finances.

It depends on how you treat it. But now that the world is slowly embracing Bitcoin as a form of currency, it's starting to look more like a currency, and I believe that's the idea, as far as the whitepaper is concerned. Treating it as both will not hurt though so no issue there. Just hold on to your coins if you treat them as an asset because if there's one thing with high certainty in the crypto world, it's that Bitcoin's value will keep increasing as more countries open their doors for crypto.

Seeing Bitcoin as an asset or a currency or even both is relative. This will be a constant debate as investors will relate to it differently. but we can be sure that Bitcoin will be a future asset that will be used as a means of payment or use it as a digital currency

It all depends on a government's stance towards crypto. Laws and regulations will determine whenever Bitcoin can be classified as a currency or an asset. It doesn't matter how people use it as long as Bitcoin remains decentralized. It's this key quality which makes the pioneer cryptocurrency the best sound money in the world. Without decentralization, Bitcoin would've been no different than Fiat. Despite its widespread success, not many merchants and/or businesses accept it as payment method. Fiat is a better option for day-to-day payments because it's widely accepted anywhere in the world. People who have Bitcoin but can't use it at their favorite store, will be forced to exchange it to Fiat. I can't imagine how inconvenient this would be, especially when Bitcoin fluctuates in price at a constant rate. At least, Bitcoin is working as intended. As long as it remains decentralized, we should have nothing to worry about. Just my opinion

It's hard to tell, cause Bitcoin is a digital asset designed to work as a currency. Bitcoins have three useful qualities: they are "hard to earn, limited in supply and easy to verify". Can that make it easier to agree that bitcoin can somehow be defined as money?

even if it gets accepted in your country I don't think anyone would use bitcoins as a currency , I don't think any traders would accept BTC when the prices are this high , yeah obviously they will think it as they are getting less tokens for their services or goods,   
BTC are used as an asset in most part of the world due to its fluctuating value and constantly growing value in long term , there are businesses accepting bitcoins but i highly doubt that bitcoins could be used for daily uses the microtransactions cause soo much time already ,   

It seems that what determines Bitcoin as an asset or currency is the state of the country. If Bitcoin is legal then it can be said to be a currency but on the contrary if Bitcoin is still prohibited and illegal then it is considered an asset. Whether as an asset or currency, the two complement each other. Many people have used Bitcoin as an investment tool and a transaction tool that has been legalized in that country. Bitcoin is very profitable but also dangerous if you are not careful.

Many people buy bitcoin and hold it in the long term they tend to make bitcoin an asset for the future, there are also those who take profit in the near future they buy bitcoin and when the price of bitcoin goes up they sell it and there are also those who use bitcoin as a transaction such as countries that have legalize bitcoin they choose bitcoin as the currency in their country so it all depends on the bitcoin holder whether to be used as an asset or for transactions or currency.

It meets all four qualifiacations to be a currency so yes, it's a currency. Here's the first chapter of my book:

What is Bitcoin?
Before we start analyzing Bitcoin and its growing
prevalence as a currency we look at two things. The first is
the concept of currency. Also, it is necessary and interesting
to complement the new economic evolutionary step with the
context of history. Now we will touch on these subjects very
briefly.
What is Currency?
Money satisfies general human demands. It is used as
exchange for goods and services. Money has specific uses that
qualify it as money and there are three that will be
considered here.
A medium of exchange is something used for buying and
selling goods and services. Labor is something that is sold and
productive work is the foundation for a good economic system.
When you work you do something valuable. You can supply a
service such as dentistry, clerical work at a retail outlet or act
as a mover. Or you can produce a good that can be put into a
market and sold, such as this book. In any case, you work and
are supplied something valuable for your time.
If you work for a fast food outlet, say, you do not want to be
given cooked food as compensation. You want something that
can be used to satisfy desires for other goods and services at
your discretion. Thus, you are given currency and this
currency yields and represents the value of the labor you sold
and allows you to buy something else you find valuable.
Therefore currency acts as a medium of exchange.
Money is used as a unit of account as well. A dollar,
although just a piece of paper, gives individuals a relative
measure of worth. If you go to a store with a dollar and look
for things to buy you get an idea of the worth of everything in
dollars. If you are offered three-hundred dollars for a week’s
worth of work you then judge your willingness to do that work
based on the unit of account by gauging it from the reference
point that money provides.
One more thing to discuss here is how money acts as a store
of value. If you are given a hundred dollar bill, throw it in a
safe and keep it there for a week the money will still be worth
a hundred dollars. The value of that hundred dollar bill
retains its value for future spending allowing individuals to
save the value.
The value of a dollar bill alters with time through
alterations in purchasing power and government action.
Governments can easily increase the money supply.
Expanding the money supply will reduce the value stored in
all units but will provide governments with money that is not
based around original production and value offered. This
notion is important later on to understand why e-currencies
like Bitcoin grow in popularity.

With Bitcoin speculative value more still treating it as an asset, even there are places where adoptions are being take place
people choose to invest and hold instead of using it as a system for transactions. People who hold this coin value it a lot
they are not willing to sell or use it as they are expecting to see more.

The value is increasing and if you hold bitcoin, it's much better to hold still. Maximizing the benefits should be the focus.

Bitcoin is an asset or a currency!
It depends upon how you are going to utilize it. If you are investing in it for future benefits so it can be proven as a profitable asset.
But if you are doing payments through it as some of the countries had allowed payment through cryptocurrency so it can be used as currency.

For most bitcoin is becoming an alternative to financial assets to provide high profits in the long run as you would see people stacking up more and more rather than spending as it's fine because everyone wants to have huge profits and with future speculation of $100k people are not willing to waste them.Mostly many still don't accept btc so hard to find the shops and stores accepting bitcoin payments which is why you see less use case of it as mode of payment.But in future it will be seen.

don't think too much about bitcoin for assets or currencies.  I see if bitcoin is now starting to become a currency, I think this could be one of the things that is used because bitcoin is compared to money in every country through exchanges.  so don't keep debating bitcoin as a currency or asset because what matters is the use of bitcoin itself