Bitcoin Forum

earlier I apologize if my English is bad

This is what is always on my mind "bitcoin, ethereum, ripple etc. are cryptocurrencies or digital assets?"
have you ever thought that the naming of cryptocurrency is very influential on bitcoin etc.? because the naming of cryptocurrencies that are currently attached to bitcoin etc. makes bitcoin clash with government regulations relating to the applicable currency

what happens when the name cryptocurrency is changed to a digital asset? I think this will make it easier for bitcoin to be adopted in various countries because it doesn't conflict with financial regulations

I think the naming of cryptocurrency or digital assets plays a big role in the perspective and development of bitcoin

this is just my assumption, what do you think?

Do you mean crypto that has bitcoin name attached to it? Like the obvious fork coins BCH, BSV or BTG? Crypto enthusiast knows that they are fork coins so nothing much has change. As for the effect on bitcoin? the same approach, we know who is the true bitcoin so tit for tat.

And regardless of all the semantics, digital asset, digital gold etc or e-currency, it wouldn't have that much effect though, we can call all the names and change it, but still the fundamental are still there, use them as form of money.

i think its better called digital assets my friend, because in my opinion its more valueable rather than cryptocurrency

it seems that anyone's naming will have no effect on policy. because we know that the naming is only a symbol, but the contents of the naming remain the same. so the most important thing is to change the function of bitcoin and the obvious benefits that will make it easier for the government to give a positive signal to bitcoin

While your thoughts are considerable, the digital asset is a class or type of investment and it's not about the naming whether bitcoin is a crypto or digital asset. Actually, bitcoin is both, a cryptocurrency and a digital asset that we're all like to hold. IMHO, it's not important whether bitcoin will be named as a digital asset because it will be classified into it. And bitcoin shall always be known as the most popular cryptocurrency. Not that matters if it's bothering you.

Fiat currencies are hard or physical currencies that you can touch or feel. Then cryptocurrencies are currencies that you can not touch nor feel hence the name, so I think is it correct. Also, digital assets also means digital currencies, the word digital is as a result of the technological nature of the assets or currencies, so in the same way, digital assets or digital currencies is correct. Now looking at these two, you will understand both means the same thing, which is currencies which cannot be touched but are piloted and backed by the technology they depends on. So in my own opinion, whether they are called cryptocurrencies, digital currencies or digital assets, they all means the same thing, hence Bitcoin, Ethereum and so on falls under it, and represent by it.

In my opinion, bitcoin is a cryptocurrency as well as a digital asset. all depends on each holder in considering it. Why ? because bitcoin, eth has both of these functions, besides being a digital asset, it can be a crypto-based currency that can be used to transact in the user community.

a name is still a name, so it won't matter. what makes the government dislike crypto is not the name. but from its advantages, crypto is a decentralized currency and because of this it is difficult to control crypto. governments do not accept things they can't control.

I think that regarding if the name is attached to bitcoin or not still it won't matter at all. I would agree to many of us that the reason why mostly all government dislike and disapprove the use of cyptocurrencies is because it is decentralized and the government cannot hold any right to do regulations on it that make them think that crypto is no worth for them.

Have you search what is cryptocurrency before creating this thread? This is the result on my first search

They already said cryptocurrency is one kind of digital asset, so many newcomers already know cryptocurrency is a digital asset. Even if they only know Bitcoin is a cryptocurrency, they will search what is cryptocurrency since they didn't know what cryptocurrency mean. Name is name, don't make it complicated.

Cryptocurrency doesn't get massive adoption since many regulation still ban bitcoin, saying bitcoin is scam and people worried about volatility.

Yes it is true that Bitcoin Ether and ripple can be declared as digital marketing. I don't think these online coins will clash with anything. I think the security of human resources can be further enhanced through this digital market.

after reading the reply, made me get new knowledge.
Bitcoin and other altcoins are cryptocurrencies and can also be called digital assets because cryprocurrency has fulfilled the classification as a digital asset which has a value

There are really not that many digital assets in the world, crypto is probably the main one of them, I have no idea what classifies as digital asset but right now crypto could probably the biggest one there is out there in market size plus even though it is such a huge thing, it is incredibly easy to get into, hell if you are not worried about the amount, you could get some small amount from faucets, hence there is really no entry point towards crypto.

At the end of the day there is really no reason why calling it digital asset would change anything because it is already huge. What would crypto earn from a name change when it is already doing awesome, do you guys think we should have been a lot further into adoption right now? I feel like we are doing quite well enough.

Well, I don't think it's necessary to deny the truth about something in order to suit the words or phrases use in national laws. The truth is that they are currencies (cryptocurrencies),  can also be called digital assets. What is wrong or immoral about calling them cryptocurrencies/currencies?

Governments can however choose to call centralized ones whatever reasonable they want, (maybe token?). They can even call the decentralized ones thesame thing but shouldn't stop crypto/decentralized communities or other people from calling them by their real name (cryptocurrencies).

Crypto can also be categorized as the digital asset and you must see the digital yuan that has already issued by china's central bank. There was no a lot of differences but the only thing that makes it different is the digital asset issued by the government already comply with all of the regulations while crypto is still in the grey area.

i thought your talking about the name (ex. bitcoin xxx )  . digital currency or digital asset is only a term to clasiffy them but i dont consider them as seperate name . there was a thread here last time that also talks how a crypto name can affect thier success. i was going to tell that that thread here are simillar to it but no not really.   btc , eth , and all cryptos are all digital assets/currency but they can also be call a cryptocurrrency and their acceptance will be the same

I think it is not about naming because it may be changed the name would not affect the state policy , but the policy must also be meticulous in his function , useless if naming at a fox but his function remains the same and i think bitcoin,eth is his second crypto and digital assets

The best thing about this question is that the answer does not matter:) You are allowed to treat it as anything you want, digital asset, store of value, currency, independent money. In fact, some people treat it purely as speculative asset and they trade and whatever gamble with it, that is fine.

Demand and utility ignores all these aspects to my opinion:)

Cryptocurrencies was designed to be a currency, it was a revolutionary currency out of cryptography to secure information codes. It is really made to be a means of payment until it evolves due to volatility and also the way that people adopt it. Bitcoin as the main example, reading its whitepaper labeled it as electronic cash but it was also made volatile that the price is dependent on the supply and demand. Besides, all you got that has a value is your asset, for crypto yes it is a digital asset when you own one.

I already thought of this before, I always think if it is really a currency or an asset but it comes to my mind that it falls for both category.

I agree the name matters little. It doesn't matter what you call BTC since it represents both a cryptocurrency which in turn is a type of digital asset. In fact I think very little will change from the regulatory point of view as this new era of cryptocurrencies is rival to fiat and governments won't go easy on it, specially when there's so much growing concern about anonymous and fraudulent activities.

I think a name between cryptocurrency or digital asset is a good thing in common. so maybe more emphasis is placed on functions so that the naming pattern can work according to its function

Yeah, it doesn't matter what do you want to call or categorize about these cryptocurrencies. As long as they are doing their job and providing their purpose, that's what matters most to me. You can't fool a regulatory agency just by changing its name because they already have take on this. But saying that they can have full control when it comes to crypto, I don't think so.

Cryptocurrency is a digital asset and I doubt even if you change the way you call crypto it won't do anything. The main reason why they say crypto is against the government is not its name, but how it is created to function, it is to be decentralized. Changing the name of crypto will not change it's function.

I understand the difference so: cryptocurrency is issued on a blockchain (encryption techniques are used) and digital assets which are built on top another layer of a blockchain.

There is a difference though. Yes both of them are cashless, but digital asset can be not on blockchain. Cryptocurrency means there is a blockchain used aside from being identified as digital asset. So when someone used the termed digital means its purely online system that can be accepted fiat and vice versa into affiliated third party app.

Like paypal its a digital asset but not literally cryptocurrency. Maybe different means for other but thats how I understand those term in general.

cryptocurrency included in digital asset but digital asset not sure be cryptocurrency. its totally different cause cryptocurrency was currency that based on programming code which is have value due its feature. not all of digital assets was good as investment portofolio some of them only have value but have no future value.

Bitcoin, Eth and Ripple are often referred to as digital assets or virtual currencies, cryptocurrencies and digital assets are just a name that has been very popular to date, In other words, name only as a symbol or identification. the most important thing is the benefits we can feel, although digital currency cannot be touched or felt, its functions and uses are the same as fiat money issued officially by the state.

IMHO, I think both names are applicable in Bitcoin and Ethereum because it was fit to call them like that "a cryptocurrency or a digital asset" for me it is not conflicting so why we just bothering ourselves about it. Just forget some technicalities it's better to stick into the layman's term so that it's easy to understand. that was my stand about it. "Cryptocurrency or Digital Asset" are both the same.

As BTC or ETH deals crypto related funtions we can say its a crypto currency but at the same time we can say its a digital assets because  we can exchange this functions digitally. It would be more digital assets when globally it would be recognized and in this pandemic situation i think it has come for all like digital gold.

thanks.

Actually the name of this cryptocurrency is already very attached to the minds of many people, and it is only a parable of the name so that it makes it easier for people to say it and remember it, the problem collides with licensing in my opinion Cryptocurrency is very widespread even in almost every country it can transact well and officials and entrepreneurs have absolutely no constraints regarding ownership or transactions in general, it is just a matter of name abbreviations that own and according to the meaning of Bitcoin and other coins, are called Cryptocurrencies which represent all digital assets.

Please correct if what I say is wrong !!

I prefer to call it digital money, but nowadays many people develop digital money in the form of payments using only QR codes, but digital assets are not too bad either, because I also keep them only as my digital assets and rarely spend like money

I'm more inclined to name digital assets. General, the very definition of the word "asset" sounds like "an object that has some value for its holder." Cryptocurrencies, of course, are not objects, but the name digital asset suits them perfectly.

Even if you call them digital assets they will still remain cryptocurrencies based on blockchain technology, obviously world, people, regulators, govts and their institutions are acknowledging and finally started to accept crypto as a legit thing so i do not know why we need to call them digital assets now.

For people who don't understand what cryptocurrencies are or what bitcoin is. The easiest term for them to understand is to tell them that bitcoin is a digital asset or sort of digital money. That's easier for them to realize what bitcoin really is. In this time when many things are going badly with bitcoin due to the misuse of those scammers, they tend to think that bitcoin is bad without further understanding and reasoning what really it is.

I think cryptocurrency can become digital asset, think about security type token.
Security token is same as the share of the company, in other word it is an asset of the company.
To become a digital asset, i think cryptocurrency will need to be backed with something, like gold or fiat money for example.

Cryptocurrency can be anything from digital asset,a digital fiat, a share of company and whatever it want to be. Projects that used cryptocurrency will create what is the purpose the tokens has being made and i believed the smart system that can get peoples to join their project will be a winner as long it really bring the benefit to the user.

One of the cryptocurrencies in the world is Bitcoin. So before Bitcoin and Altcoin there was no word cryptocurrency. Bitcoin is the world's first digital currency. So obviously the naming of cryptocurrencies has an effect on Bitcoin.

Bitcoin's presence does clash with government regulations, or with the Fiat currency. Because Bitcoin makes world-class transactions easy without having an identity. (Anonymous)

Cryptocurrency names do not need to be converted into digital assets. Because cryptocurrency is a digital asset.
Your question confused me. ::) ::) ::)

I think the name of cryptocurrency is not mattered for the legalization of Bitcoin. As you know, various counties already legalize the cryptocurrency, and digital asset names can be a little impact but not more for legalization so that you can mention different names of cryptocurrency, digital assets, and digital currencies.

I never thought the name or change of name could affect the adoption like the use and technology from cryptocurrency. I feel digital asset can convey cryptocurrencies and some other asset on blockchain, digital asset seems to be more than cryptocurreny IMO. I see a lot of development in the blockchain technology that give dynamic look to the technology and the use

Indeed, this is what I am looking forward to greater developments in the near future because as technology went more advanced; the world is adopting new kind of ways to adopt changes. Cryptocurrency asset is somehow doing more possible things happen, in example that is using digital payments diverted into cashless which could prevent any physical robbery to happen.
Most especially this time of pandemic, virus transmission through money is highly possible and I believed cashless form of payment would really be a good alternative and solution.

Cryptocurrency is a decentralized digital money, unlike the one we using on banks which is a centralized digital money.
Digital asset is different from crypto i think. When you think about asset, it is different from money, meanwhile cryptocurrency is a currency, same with USD or EUR or any other currency.

that doesn't matter whether it's centralized or decentralized but crypto can always be called as the digital asset and there was no different with crypto since crypto was in the digital form too. if you are aware about digital yuan and it's very similar to the stale coin too. I think that you misunderstand about this.

Anything that stay in the internet will be call digital.. So yeah bitcoin and the others cryptos will be call digital asset or currency that has valued on it. What is the best is bitcoin are decentralized coin so everybody are freely to use it as long as you have bitcoin inside your wallet without to worry about tax and the government as they cannot trace the money from bitcoin hash.

Even as much as cryptocurrency can be interchangeably called digital assets, it does not replace the fact that they are cryptocurrency by nature and this is because they were formed with the use of cryptography. Crytocurrency are weigh more than digital assets, though they can be called digital assets

because of decentralization, this makes crypto currencies hated by the government, especially big countries,
we know the future is decentralized, and cryptocurrencies are one of the good assets for us to have

If you are going to categorize cryptocurrencies as digital assets, then it implies that you are also putting them on the same field as digital photos, videos, songs, and other word documents that are also intangible. Cryptocurrencies, in my opinion, are on another field and category on its own due to being a digital asset and an investment. As a decentralized and volatile currency, it has a significant value that is substantial and distinct from the conventional digital asset that we know.


Changing the name of cryptocurrencies into digital does not change that much in my opinion as the legalization will totally depend upon its nature. As a decentralized currency, lack of regulation by the government seems to hamper its development from being accepted from all countries in the world.

I believe digital assets are not as big of a deal as people think it is, they all think that it will be a big deal in the future and getting in right now should means something but unfortunately it is not as big of a deal as they make it out to be in their minds, that is why I personally believe that crypto is the way to go.

If you want to invest into the future, I would say that best way to do it is crypto, it is the currency of the future and anyone who gets in right now would still be early bird considering how it would be just a standard in the future as well. I believe one day people go to grocery shop and pay with cash/credit OR crypto, it will be that big, that is why even right now you are not too late, you may not have gotten in under 1 thousand maybe, but right now is still better compared to 20 years later.

Good idea whenever I told people about cryptocurrency it seems that I'm talking about a scam to them but whenever I use a digital asset they think of it like an online credits or online money but most of us that is early adopters are used to cryptocurrency but in reality cryptocurrency is a digital asset which is totally the same thing.

It all really depends on the use case - different cryptocurrencies answer different demands and are designed with different purposes in mind. Bitcoin is similar to a digital gold in the fact that it works really good as store of value; ethereum is a platform that's more suited to something else entirely, and that is utilizing smart contracts in creative ways such as providing DeFi solutions. Blockchain technology has different applications and it's hard to generalize all crypto projects under one term.

For me bitcoin and ethereum both are digital assets to be honest because i have accumulated and held onto them in expectations of big returns and i am sure they will provide me with that extravagant opportunity to make profit.

I don't think so, because the source from which cryptocurrency is created is by breaking complex codes that only machines (computer / vga card) can do. Unlike digital assets, it has a very broad aspect. Examples of blogs / websites, youtube channels, forex and others.

Bitcoin, ethereum is just a name for technology, a cryptocurrency.
Digital assets have broader implications than cryptocurrency.
The naming of bitcoins or cryptocurrencies does not change their nature, it is just a way to circumvent the law. The purpose of government is to control everything. Crypto, bitcoin, or ethereum ... decentralized and unregulated, free, and transparent. Right now people are using them with little regulation so they don't want people to use them.