Topic: Is bitcoin an asset or a currency? - page 4. (Read 1134 times)
Bitcoin can be used as both an asset or a currency. it depends on each trust to make it an asset only or as a currency for daily needs. for me bitcoin is like an asset for investment in general where if we can store it well then it will be profitable in the future. even though the crypto market is up and down but it doesn't make me back down to invest in it. that's exactly what makes me feel challenged to be able to profit from it.
- Your country
- You as an individual
But for me personally, it can be also a currency if we want to buy something, but of course, it must be outside of my house because there is not even a single merchant that accepts Bitcoin in my country
I think that Bitcoin is an asset rather than a currency. As long as Bitcoin is not the currency of most countries, I won't be seeing it as a currency like fiat currencies.
You don't need to conclude what the most function of Bitcoin is. In reality, Bitcoin is really used both for a digital currency and a digital asset. We can use Bitcoin for those two functions, but it depends on where you live. In my country, it can be used as a digital asset only. While in a country like USA, it can be used as a payment tool or a currency to pay for goods. So, it is real that Bitcoin is a currency as well, although I don't use it in my country. It is already a legal currency in some countries.for me bitcoin I use as an asset where it will be useful in the future. to be used as currency I think it will be difficult especially for residents or people who are not too familiar with bitcoin. although the development of bitcoin is currently getting more and more popular and many countries are accepting it but I think it is not yet strong enough to be used as an everyday currency. so I prefer to make bitcoin as an asset and I will use it well so that in the future I can get results from it.
Why some need to differentiate Bitcoin as an asset or currency? For me, it could be both since you can use it as a virtual currency or an asset because the value of it always appreciate unlike to gold it would take more years before it appreciate but Bitcoin is taking a different route. Bitcoin is a decentralized coin and no matter what your country be doing they can't ban Bitcoin so it's up to you how you will use it but make sure you won't get in trouble just by using a different currency because I don't see any problem of using Bitcoin besides of someone who put some regulations in order to stop people from using a virtual currency.Well, I don't mind what they are doing, what they call this one. What the most important is that we are benefiting from this, having a profit, make use to pay/buy some stuff.
for me bitcoin I use as an asset where it will be useful in the future. to be used as currency I think it will be difficult especially for residents or people who are not too familiar with bitcoin. although the development of bitcoin is currently getting more and more popular and many countries are accepting it but I think it is not yet strong enough to be used as an everyday currency. so I prefer to make bitcoin as an asset and I will use it well so that in the future I can get results from it.
Why some need to differentiate Bitcoin as an asset or currency? For me, it could be both since you can use it as a virtual currency or an asset because the value of it always appreciate unlike to gold it would take more years before it appreciate but Bitcoin is taking a different route. Bitcoin is a decentralized coin and no matter what your country be doing they can't ban Bitcoin so it's up to you how you will use it but make sure you won't get in trouble just by using a different currency because I don't see any problem of using Bitcoin besides of someone who put some regulations in order to stop people from using a virtual currency. 
For me, Bitcoin is more like gold. It is to be used to protect your wealth from asset seizure and inflation. The difference with gold is that Bitcoin is easier to store and even more easier to transfer. If needed gold can be used as a currency (gold coins, bars.etc). Due to the portability of Bitcoin, it is more convenient when compared to gold, to be used as a payment mode. In short, Bitcoin is suitable for multiple purposes - as a currency, as an asset and as a store of value. And it doesn't matter whether a government has awarded the status of legal tender to Bitcoin. Because the governments can't do anything about BTC. They can't control it.
Bitcoin cannot be controlled by anyone, including the government. Therefore the government enforces strict regulations on the use of bitcoin.However, when equated with gold, there may be a slight difference that is quite significant. Bitcoin price fluctuations are not the same as gold which tends to be more stable. As a mode of payment for several other services, it requires quite a lot of fees when referring to the current bitcoin price, but if you use the lightning network, bitcoin fees will be cheaper and faster.
Bitcoins can be used for various purposes, depending on the owner. as an asset, as a store of value or as currency. Bitcoins are Bitcoins.
but if we look from the government's point of view to implement bitcoin and other crypto-assets as investment assets I think it will be the same as gold.
because we know, not all countries make the same rules regarding bitcoin and crypto regulations. Several countries allow for payment instruments. some only regulate bitcoin and crypto-assets as futures investment assets. the government also discourages the use of crypto as a currency for transactions. most only allow ownership of this asset.
For me, Bitcoin is more like gold. It is to be used to protect your wealth from asset seizure and inflation. The difference with gold is that Bitcoin is easier to store and even more easier to transfer. If needed gold can be used as a currency (gold coins, bars.etc). Due to the portability of Bitcoin, it is more convenient when compared to gold, to be used as a payment mode. In short, Bitcoin is suitable for multiple purposes - as a currency, as an asset and as a store of value. And it doesn't matter whether a government has awarded the status of legal tender to Bitcoin. Because the governments can't do anything about BTC. They can't control it.
Bitcoin cannot be controlled by anyone, including the government. Therefore the government enforces strict regulations on the use of bitcoin.However, when equated with gold, there may be a slight difference that is quite significant. Bitcoin price fluctuations are not the same as gold which tends to be more stable. As a mode of payment for several other services, it requires quite a lot of fees when referring to the current bitcoin price, but if you use the lightning network, bitcoin fees will be cheaper and faster.
Bitcoins can be used for various purposes, depending on the owner. as an asset, as a store of value or as currency. Bitcoins are Bitcoins.
for me bitcoin I use as an asset where it will be useful in the future. to be used as currency I think it will be difficult especially for residents or people who are not too familiar with bitcoin. although the development of bitcoin is currently getting more and more popular and many countries are accepting it but I think it is not yet strong enough to be used as an everyday currency. so I prefer to make bitcoin as an asset and I will use it well so that in the future I can get results from it.
I think that Bitcoin is an asset rather than a currency. As long as Bitcoin is not the currency of most countries, I won't be seeing it as a currency like fiat currencies. Bitcoin seems to me like an alternative payment option in some places and the number of these places is increasing every year. But the main thing of Bitcoin is not to become a currency of any country of course. It is more of an asset for people to store their money, make investments into it etc..
Well, it depends on which country we came from but most likely, we take Bitcoin as a form of currency and asset. But for me, I consider this most as a currency. It was not directly I spend my BTC to buy things or to pay bills as I converted it to our local since it was not fully accepted in our country. I think, but I'm seeing that this somewhat fails as a form of currency only. As long as it was not fully adopted globally, that it remains like that having both as an asset and as a currency. And I don't think there is a need to complain because people are enjoying this as what it was today.
I also think bitcoin is more like a high-risk asset right now. Of course it can be used for transactions between individuals, but it doesn't make a lot of sense because of the high volatility. You would want your currency's value to stay the same, more or less. Bitcoin doesn't have that. However, the technology behind it is remarkable, so I'm pretty sure some cryptocurrency with a more stable value would do wonders as a currency.
The only sort of cryptocurrency capable of maintaining its value is stablecoin, which is, in fact, a digital representation of fiat. As we all know, the value of fiat is not actually stable in terms of purchasing power, it is slowly depreciating. That means that a cryptocurrency that has value pegged to government money is no better than what we have had so far. Even worse, in some sense, because you sometimes have to believe third party companies that cryptocurrency they are issuing is backed by something at all. On the other hand, you are right about bitcoin's current use cases. It can barely be used as a medium of exchange because of high volatility, but it is a perfect means of storing value because its price gradually increases despite chaotic fluctuations of the price. Its price will likely never stabilize completely because it is a free market where buyers and sellers make decisions in accordance with their current interests, beliefs, wants, emotional conditions, etc. Moreover, you don't want stable bitcoin either because it is boring as hell.
The OP has really got onto details and yes it’s really worth discussing.
Coming to the OP title, it’s really confusing for most of the newbies.
Let me very clear,
Whether Bitcoin is an asset or a currency, it will depends on us only.
If we use Bitcoins to do some payment like buying gift cards, paying for domain bills, then it is therefore considered as currency.
If we hold it and store and do buy sell or trade, then we can treat is as an asset.
Coming to the OP title, it’s really confusing for most of the newbies.
Let me very clear,
Whether Bitcoin is an asset or a currency, it will depends on us only.
If we use Bitcoins to do some payment like buying gift cards, paying for domain bills, then it is therefore considered as currency.
If we hold it and store and do buy sell or trade, then we can treat is as an asset.
I think that Bitcoin is an asset rather than a currency. As long as Bitcoin is not the currency of most countries, I won't be seeing it as a currency like fiat currencies. Bitcoin seems to me like an alternative payment option in some places and the number of these places is increasing every year. But the main thing of Bitcoin is not to become a currency of any country of course. It is more of an asset for people to store their money, make investments into it etc..
I think bitcoin is basically now symbolized as an asset class, and the scarcity and impact of a store of value becomes the impetus for bitcoin to change that. However, in the future bitcoin may become a legal currency accepted and used in everyday transactions, of course, the price will still be an issue to maintain the moves that the base the need to transform it.
it maybe symbolized as asset but the function stays more on currency .remember that coins like bitcoin will never increase value if not used as currency to circulate so Bitcoin is currency , Bitcoin is asset. that is the reality of this .
Bitcoin is not seen as a currency actually. I mean that a currency like traditinal ones. It is completely different from fiat currencies in terms of its system and main purpose. So I see it as an asset rather than a currency. People are using Bitcoin highly for investment purposes now. People want to make a lot of profit in the long run. So it is used as an investment tool a lot.
lol not because you mentioned currency meaning it is traditional , remember that the first currency used is Gold and that is the traditional currency originally .
I also think bitcoin is more like a high-risk asset right now. Of course it can be used for transactions between individuals, but it doesn't make a lot of sense because of the high volatility. You would want your currency's value to stay the same, more or less. Bitcoin doesn't have that. However, the technology behind it is remarkable, so I'm pretty sure some cryptocurrency with a more stable value would do wonders as a currency.
I think bitcoin is basically now symbolized as an asset class, and the scarcity and impact of a store of value becomes the impetus for bitcoin to change that. However, in the future bitcoin may become a legal currency accepted and used in everyday transactions, of course, the price will still be an issue to maintain the moves that the base the need to transform it.
Bitcoin is not seen as a currency actually. I mean that a currency like traditinal ones. It is completely different from fiat currencies in terms of its system and main purpose. So I see it as an asset rather than a currency. People are using Bitcoin highly for investment purposes now. People want to make a lot of profit in the long run. So it is used as an investment tool a lot.
I use bitcoin as an asset like gold which I can sell anytime I want. I do not treat bitcoin as a currency because I have fiat that can work well to be a payment method. Although my government decided to use bitcoin as a currency, I still want to treat bitcoin as an asset because bitcoin can rise more than the price now. And if I can make more bitcoin, that means I will make a big profit in the future, so I have always wanted to accumulate more bitcoin since a long time ago.
For me, Bitcoin is more like gold. It is to be used to protect your wealth from asset seizure and inflation. The difference with gold is that Bitcoin is easier to store and even more easier to transfer. If needed gold can be used as a currency (gold coins, bars.etc). Due to the portability of Bitcoin, it is more convenient when compared to gold, to be used as a payment mode. In short, Bitcoin is suitable for multiple purposes - as a currency, as an asset and as a store of value. And it doesn't matter whether a government has awarded the status of legal tender to Bitcoin. Because the governments can't do anything about BTC. They can't control it.
They could control if they wanted to, especially if it's treated as an asset. If someone hold Bitcoin, the government could force some sort of wealth tax which would force people to register any Bitcoin they own, attribute it to their total wealth, and perhaps force people to liquidate in order to pay whatever arbitrary tax they choose. It is a pretty big deal for a government to recognize Bitcoin as legal tender, b because eventually the alternative will be total outright ban.
i treat bitcoin more on currency than asset because i know that in time when the maximum bitcoin already mined and also adoption comes our way , Holding bitcoin will never be profitable instead this is the currency will be used and circulate and the value may not be that volatile like what we had now.
also the altcoin will increase also and will become the market of cryptocurrency and not only for Bitcoin.
though for now of course i consider this as asset as i am holding my coins as the use is very limited in my country .
also the altcoin will increase also and will become the market of cryptocurrency and not only for Bitcoin.
though for now of course i consider this as asset as i am holding my coins as the use is very limited in my country .
Bitcoin can serve either as a currency or an asset. If you are lucky enough, it can be both. I think this matter is subjective because we are well aware that the legality of bitcoin and cryptocurrency, in general, varies from one country to another. To those countries that recognize bitcoin legally, bitcoin can be both an asset and currency because their country welcomed it, meaning they allow the usage of it. However, this is with limitations to some so make sure to know the policies that come with it. Here in our country, fortunately, bitcoin can be both. But the merchants must do their obligations to pay their taxes to the state, otherwise, they will be fined.
For those countries that do not recognize bitcoin legal, bitcoin serves only as an asset. They can't make transactions (physical establishments) using crypto because it isn't acceptable in their country unless of course, they'll do it under the table. For online transactions, I think they can get pass through it because crypto is decentralized, after all, the government won't be able to monitor their activities unless they do it on a regulated platform by the government.
For those countries that do not recognize bitcoin legal, bitcoin serves only as an asset. They can't make transactions (physical establishments) using crypto because it isn't acceptable in their country unless of course, they'll do it under the table. For online transactions, I think they can get pass through it because crypto is decentralized, after all, the government won't be able to monitor their activities unless they do it on a regulated platform by the government.
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