Is Bitcoin Really A Currency or An Asset? - page 4.

ramsdaj28

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اللعنة

Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

It is both a currency and an asset. Currency in a sense that you can really use it to buy thing you like, pay your bills, send money to anyone, and more. Actually, I am using bitcoin for a long time, and it's been great so far. I find no hustle using bitcoin. I have also bought stuffs and accessories for my gadgets.

On the other hand, bitcoin is an asset in a sense that it is MONEY in different form. Bitcoin is a cryptoCURRENCY, which means that you can use it as a medium for buying things. And the best thing about owning bitcoins is that you can multiply your money due to its volatility, although the risk of losing is still there.

SirLancelot

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Quote from: pginvest on September 30, 2017, 08:35:25 AM

Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Its obviously both, In terms of its asset comparrison it might be precious metals. In terms of its currency utility it is very useful for large transactions, in particular large or international transactions, but it gets expensive and cumbersome for small everyday transactions.

If one is spending it for the daily works then it is counted in currency on other hand if one is maintain wallet of it and continuously adding bitcoins to it for the future then it is asset and it gives benefits in both ways no matter how anyone use it bitcoin bless everyone miner, trader and investor, so do whatever you want whether you want to spend or want to hold it works for you.

MiBambino

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Quote from: GreenBits on September 30, 2017, 08:55:59 PM

Its a touch of both honestly , but it functions moreso as an asset that it does as a currency. Currencies can denote any accepted medium of exchange, but in the modern day, currency = stable. it would be hard to transact in a currency that fluctuates. bread might cost less one day, gas might cost double. people would establish a secondary currency; a society wouldnt cope with this for too long Wink

there is an expectation of value increase, or at least value retention, with an asset. this is more of bitcoins speed. you can spend it, but for anything that you would buy bitcoin with that isnt another crypto, you would have been better off using fiat Wink

ask the bitcoin pizza guy.

If I was that guy, I'd kill myself lol

Yukyzu

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more precisely as an asset, but some people call it a valuable virtual coin. for now because btc has not been acknowledged by the world as a currency equivalent to the currency issued by the government then it is only as an asset that in exchange for the government currency will be more easily accepted anywhere.

GreenBits

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Its a touch of both honestly , but it functions moreso as an asset that it does as a currency. Currencies can denote any accepted medium of exchange, but in the modern day, currency = stable. it would be hard to transact in a currency that fluctuates. bread might cost less one day, gas might cost double. people would establish a secondary currency; a society wouldnt cope with this for too long Wink

there is an expectation of value increase, or at least value retention, with an asset. this is more of bitcoins speed. you can spend it, but for anything that you would buy bitcoin with that isnt another crypto, you would have been better off using fiat Wink

ask the bitcoin pizza guy.

centralbanksequalsbombs

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Bitcoin :open immutable decentralized global fair

Its both and cannot be manipulated at all by traditional institutions.

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

Just a reminder to newbies:
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.

Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates.

Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalksearch.org/topic/which-country-are-you-from-here-list-thirty-popular-bitcoin-countries-for-trade-1853019

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping

https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/

YuginKadoya

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Quote from: liseff3 on September 30, 2017, 07:15:51 PM

Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Although bitcoin has a very good reputation, bitcoin can not be used as fiat currency, if a large number of bitcoin users treat it as an asset, plus another problem that is the market and some countries that refuse and do not acknowledge the existence of bitcoin.
People store bitcoin, not just for assets alone, but there is another purpose that is profit, this is where they insist on saving it for long period of time (waiting for high price).

In my opinion bitcoin purpose and identity is circulating between currency and asset I really think you can surely give credit to bitcoin in both ways and on how you are using bitcoin, but I really think this doesn't really matter at all because at the end of the day bitcoin will still be bitcoin and you can use it whatever you want it to be you can surely treat it like a currency or save it as an asset.

liseff3

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Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Although bitcoin has a very good reputation, bitcoin can not be used as fiat currency, if a large number of bitcoin users treat it as an asset, plus another problem that is the market and some countries that refuse and do not acknowledge the existence of bitcoin.
People store bitcoin, not just for assets alone, but there is another purpose that is profit, this is where they insist on saving it for long period of time (waiting for high price).

dylanc

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Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Maybe it can't be considered as a currency yet today, but probably will be in the future. That's my take anyway.

Batmain

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Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

I think Bitcoin can be labelled as an asset because it holds a very good value in the future, and it is one of the best investments online. Do you see the news in the crypto world where there are throwing of opinions and criticism about this cryptocurrency but in the end it is still going going strong and holds so much value to those people who are open minded in this technology. This cryptocurrency is a piece of science and myth that exceeds any value of any fiat today, so yes it is an asset that can be used also as a currency.

criminalbee

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Quote from: valucash on September 06, 2017, 09:48:36 AM

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

One of the most amazing characteristics of bitcoin is that it is a combination of currency and at the same an asset. One of the reason why banks and governments are threatened. If they cannot control it, banks will collapse not unless they join the bandwagon.

MiBambino

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Bitcoin acts like gold, it used to be a way to pay for things, now its a store of value. Bitcoin will likely go the exact other way

totaleclipseofthebank

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Bitcoin is both of them. Bitcoin can be used as a currency and an asset. However, since the price of bitcoin is very high by now, I believe that there is only a limit number of people using bitcoin as a currency. The majority of them use bitcoin as a type of investment. They believe that they can earn a huge amount of money by holding bitcoin

Jose21

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These days bitcoin can be easily convert into money and you can also buy some stuffs with it . You can also pay your bills and other payments online. It so easy that why it is called one of the most top coin in the world. I really think bitcoin is a currency and also an asset , because we can do everything now in bitcoin especially in making online payments although it is not legal but also not illegal , it is a digital currency that we used most of the time.

Snaic

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There is a clear generally accepted concept of currency. By this term, bitcoin can not be classified as a currency, whether we like it or not. Therefore, most likely bitcoin and other crypto currency should be considered as an asset. Crypto currency can become a digital currency only when states legislatively change the wording about the concept of currency, adding it with the text that characterizes the digital currency.

craZyLovE0916

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Bitcoin is both a currency and an asset. When you own fiat, that is currency, and also an asset and Bitcoin is no different. Tongue

jak3

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in the later age people exchange goods in order to pay for services and soon they started calling it assets and after that currency and paper money came. Gold is an Asset because it is a rare mineral and it has demand in the market, on the other hand, bitcoin is not a mineral and has no physical existence but it is rare(as because there are only 21million for all the world) and bitcoin has demand and supply so I will call it virtual Asset.

valuater

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in my opinion it is both for bitcoin prices very expensive bitcoin can be used as a reason to make the assets and can trade also

Hannahanto

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Quote from: ropyu1978 on September 30, 2017, 02:03:23 PM

depending on what you call it. I guess it's the same, I prefer bitcoin is an asset and a future investment that has an advantage. yes I think so

Exactly. If theer is a need for money for basic needs, it can be used as currency. If not, the money can be saved and kept as an asset. The value is increasing huge though there is a fall now and then. The more the money is saved, the more the profit would be down the line. I love to first fulfill my needs and save them for future as my asset.

ropyu1978

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depending on what you call it. I guess it's the same, I prefer bitcoin is an asset and a future investment that has an advantage. yes I think so

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