Topic: Is bitcoin an asset or a currency? - page 7. (Read 1134 times)

I agree with your friend that btc can be both. Even in countries where bitcoins are not yet accepted as legal tenders for transactions within, it doesn't stop the user from using it as a currency. You can still use it to purchase things from outside the country say from vendors who accept bitcoins and other cryptocurrency in other countries. But truth is most persons because of the prospective nature of bitcoin, are very reluctant using it as currency. They prefer to HODL BTC as an asset to yield them profit.

Obviously there is a lot of opinions about this but i think if you ask some of the people who have invested for a long time in bitcoin, they will say that its a currency because at one time or another they have used it to buy or pay for things back when the price was not that high, but now with the huge price and the popularity that it got and how many people have put money in it just in hopes to get some huge profits, they would say that it is an asset.

I have also argued several times about this with some friends...

but for me, bitcoin is a currency that doubles as an asset. I sell masks, women's clothing, and also women's accessories online but also able to accept payments with bitcoin but LN. no one will be a winner when debating whether bitcoin is a currency or an asset because the answer is bitcoin is both.

For me Bitcoin is both an asset and currency. Bitcoin is a perfect example of digital asset like real estate or gold. Value goes up as time goes by. It is also fit to be called currency as you can encash it anytime or trade it for goods or services!

personally I focus more on bitcoin as my personal asset, because I can't use bitcoin as a currency, because in my country the government has not legalized bitcoin, and the government in my country still prohibits using bitcoin as a currency, different maybe from your country which has made bitcoin a legal currency.

That it's a matter of opinions. See this yourself; one of your friends believes it's not a currency and another thinks it's both currency and store of value. What do you believe? Bitcoin can be seen differently from each person based on the specific way they perceive things.

In my opinion, it's both an asset and a currency. It has the characteristics of a deflationary kind of money. The fixed inflation and the fact that no one controls it make me see it as a digital asset too.

As long as there are people willing to exchange goods for bitcoin, it's a currency.

Bitcoin and maybe other crypto currency can serve as an asset and at the same time as currency for reason been that you can use Bitcoin for to buy goods and services and you can equally store it for value appreciation.

what about the traditional currencies ? even the stable ones ,
they sometimes fluctuate too or theres also a volatility on them but yet they are still considered as a currency so why not bitcoin ? but your friend was wrong with that because btc is honored as a real currency ever since it came out and even until today .
another fact is that bitcoin is also an asset because it posses the qualities of an asset .

Bitcoin is supposed to be a currency borderless payments and anonymous transactions, but It turns out to be a good store of value because of it's volatility and constant increase of value each and every year passed.
So, I guess a lot of people would rather treat Bitcoin as a safe and secure long term asset than a currency.
However, Bitcoin supporters would rather spend some of their holdings than stack it all in their wallet to help Bitcoin grow as a currency.
Therefore, the answer of your question depends on the person's interest in Bitcoin.

Both can be seen that way as most of the people buy and use it for trading or they are holding it and will trade eventually if the price spike up. It can also be seen as a currency, some of establishment/country accepts it as payment. So I don't think you need to stick in one side rather see btc as a whole and its possibility to be use.

In my country, not everyone trusts local fiat, so when people save up some money, they tend to do it in USD. This way, they use the USD as an asset rather than a currency because they consider it an investment into their better future (and sometimes it's not even a bad investment because our local fiat devaluates a lot against the USD every once in a while). And yet such behavior wouldn't prompt discussions on whether the dollar is truly a currency. Bitcoin can and probably is mainly used as an asset. However, there are people who use it as money, and it's capable of functioning as money. So there's no need to settle the debate, as Bitcoin can perfectly be both these things.

First i have already Used Bitcoin as currency because for How many times that I purchased Online and bought some stuffs so I am sure this is a Currency.


Second I still Have Bitcoin and also altcoin in my wallets to keep safe and i threat them as Asset.

So with which i take?

Both it is currency and also a Asset , depend on your decision and your action .

This is a wise response, everyone is free to say bitcoin, currency or asset, the increasing value makes me prefer to say asset, but on the other hand bitcoin is used globally for various types of transactions so it works like a currency, as long as the bitcoin community is strong then bitcoin will continue to be valuable so it deserves to be said asset or currency.

Bitcoin can be an asset, but on the other side, bitcoin can also be a digital currency available on the internet. Without the internet, bitcoin and other coins are not used and that will remain in our wallet. @Zilon friend is not wrong to say that bitcoin is an asset while his other friends say that bitcoin is a currency and asset because that will depend on our perception of bitcoin. We can not directly say that our friend is wrong because we can have another thinking about something, so if they still with their minds like that, we can let them like that.

Bitcoin has been listed as the first decentralized peer-to-peer payment system that is fully controlled by its users and can also be used as part of a digital asset commodity and can also store value.
it all depends on how the individual uses it and makes bitcoin an asset or currency and depending on the rules of the country of residence, if bitcoin is prohibited from being used as a means of payment transactions like money then it can only be used as an asset and investment because when there is a lot of demand and more and more people invest, then the price will also soar.
and if bitcoin is legalized everything can be done and can be a p2p electronic currency system that can be used for payment transactions such as money.

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.

for me bitcoin is currency p2p and at the same time an asset for the future ,for people around and government in my country bitcoin is an intangible assist digital world and most governments have regulations for digital asset ,this difference has been straightened out because at the same time the government probably doesn't want the currency to shift with our population using bitcoin so a law is enacted about it
Basically I don't complicate the situation because I manage my finances including any assets I have ,so it's still safe and because in my country human rights are prioritized

Not so clear but Bitcoin is defined as digital money within a decentralized peer-to-peer payment network. It is a hybrid between fiat currency and commodity currency. Some people have different opinion.

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. 

Your opinion is based on an assumption that governments should have power or have always had the power to dictate what currency people should use in their transactions. As a young generation, we have never seen another world, the world without governments having a monopoly on money printing, on economic management, on the power of making decisions about what is best for you. History shows us when there was a lack of government control, people often tended to choose the most saleable good to use as money. It is just the natural state of affairs and common sense for an individual to hold and transact in the currency that most people have voluntarily chosen because of its strong monetary characteristics. It is therefore simply immoral and against common sense to dictate what people need to use because if it were really good, people would choose it themselves. Obviously, if a currency is being coercively imposed on you, if there are a plethora of laws requiring you to use precisely that currency, it means it is not good at all. Governments severely restrict the usage of bitcoin or desperately try to ban it completely because they know people will choose it despite fiat legal tender laws and a risk of being punished. Bitcoin merely has better monetary characteristics to be used as a currency, and it is therefore morally justified and common sense to prefer it for transacting and preservation of wealth.