Bitcoin Forum

I have been in lots of argument lately with close friends who keep dragging this subject matter. A friend of mine was of the opinion that an asset is any commodity that has a unit of symbol with monetary value attached to it while a currency has an exchange value that can be used in exchange for commodities. This very friend was of the opinion that bitcoin isn't a currency that its an asset because its value isn't stable and has volatility

Another said bitcoin is both an asset and a currency depending how the user chooses to treat it. He was of the opinion that while bitcoin can be used in exchange for goods and services it can also serve as a store of value where you convert your fiat to a digital asset waiting for it to appreciate.

For me I will go with my other friend who said bitcoin can serve both purposes which depends on two major factors:

• Your country
• You as an individual

Your country:
In my opinion you can't use bitcoin as a currency in a country where it is not legalized or a country where bitcoin is banned. Some countries has restricted ezchnagers from carrying out their business within the region so in such places you can't use your coin for commercial purpose you it will only serve as an asset

As an individual:
This is based on your choice if you are lucky enough to base in a country where bitcoin is legalized or a country where the government decides to remain mute of crypto related issues you can decide either to store yours as an asset or use it as a currency. But in countries with low civilization you will have the challenge of using it as a currency because it hasn't been accepted as a legal tender.

 what is your take on this

bitcoin is an asset or currency, in my personal opinion, it all depends on which country we live in, if in my country bitcoin has not been accepted as currency, even in my country anything can not be bought using bitcoin, so if I personally for now I make bitcoin as an asset, I am still waiting for what policy the government in my country will take in the future against bitcoin...

I believe that you already explained it in my opinion. Seeing Bitcoin as an asset or a currency or even as both is relative. As you said, it depends on how you are able to use it, are you able to use it as a currency which I believe will be the bigger argument here in your respective location and as an Individual or not. Generally, I believe that Bitcoin is more of an asset than a currency even if it saves both purposes since I personally have not really used it for purchases that much. This will be a continuous debate since investors will relate to it differently.  

You decide, not your country, not your government.

You don't need to have legal tender to use Bitcoin or to trade Bitcoin. You can not do it officially without legal tender but there are many P2P exchanges can help you to buy or sell your Bitcoin. You can do it to get fiat from Bitcoin. In countries, Bitcoin is not legal tender with different restrictions, you can trade and in P2P trade, the information of a trade does not include it is a trade from fiat to Bitcoin or Bitcoin to fiat. You are safe on P2P exchanges

Asset or currency, you decide it with your perspective, not your government, your country.

It might be both, because some governments have legalized bitcoin and have begun to utilize it as a payment method or currency. However, in nations where it has not yet been legalized, it might be a currency if it is used as a payment method. It might also be an asset because many people are investing in it and profiting from it. If it has a high value, you can call it an asset.

In our country bitcoin is only used as an asset because the government does not recognize bitcoin as a legal tender. You can only transact and invest but cannot be used as a means of payment. However, we always hope that bitcoin can be one step ahead like countries that have allowed it as a means of payment.

If there is a ban on crypto currency in your country will you still trade it? Let's take China for example do they have exchanges there? Bitcoin only has value if it is legalized in your country aside that you can only store them in your cold wallet or hot wallet until you travel outside the country where you can exchange them for whatever value you choose

I think your debate with your friend will end endlessly because both of your opinions are basically right.  from my point of view, bitcoin is both (it is a currency as well as an investment asset)  

in my country bitcoin is considered and entered by the government as a commodity asset like gold but for me bitcoin is a currency too because I can spend it online if I meet a merchant who accepts payments via bitcoin..

Why not? If you can not do it directly, you can do it indirectly. The world now is flat and there are many ways you can trade your Bitcoin.

Although there are indirect ways, the best is waiting. If you see news like that, you can wait for months to see what will be actually implemented in your country.

Obviously you have to be bitcoin holder. If you borrow your money to buy bitcoin, you will be panic with news. You can not hold your bitcoin with unknown time and uncertainty about it in your country.

Ofcourse, it can be both. It's even has Coin attached to its name and it's also a CryptoCurrency.

It's doesn't really depends on the two factors you mentioned, as it's a decentralized currency and should be used peer-to-peer whether it's banned or not. The ban does not affect your right to accept it if it's a good/safe currency and if you aren't misusing or abusing it.  That is how you could also treat gold, silver or other precious metals where they are banned. Most likely they ban you from using it within their system, but you have Natural Right to use them as long as they as safe and won't be abused/misused by you
Luckily, Bitcoin Network makes it easy for society to detect abuses.
So it's better to use Bitcoin in decentralized manner, outside of the system. Abuse/misuse can be prevented or minimize with its features. That's why it's important to maintain and improve on the features rather than making bad actors difficult to detect and leaving honest users vulnerable

By the way, fiat currencies aren't really stable especially long-term. They experience volatility too

The first thing to think about is that you need other people to agree with whatever you think Bitcoin is to be able to trade with it, and that can be different with different people all around the world.

This can be easily done in a peer to peer transaction. Both people agree to trade with Bitcoin. Done.

When you consider a larger group of people, then things get a bit more complicated, and that's when laws and regulations start to appear.

For example, since recently you can pay your taxes with Bitcoin in the canton of Zug in Switzerland. That's only possible because that group of people decided to treat Bitcoin as a legal tender to pay taxes.

A country is also basically a group of people, so when El Salvador decided to treat Bitcoin as legal tender, then the entire population there can use it for goods and services, and for paying debt.

In most countries though, Bitcoin is officially considered an asset.

Also, AFAIK, Bitcoin is not a currency anywhere, only legal tender in certain jurisdictions. That means that, for example, the IMF cannot buy Bitcoin directly, since it's not the currency of any government.

So, to answer your question, it depends. You need to take into account what the people that you're interacting with think of Bitcoin as well since by definition you need at least one other person to make a transaction with Bitcoin (other than moving between your own wallets)

But that's just stupid. Bitcoin was made to transcend pretty much everything that limits you when you use fiat, being somewhere where crypto is restricted isn't really an issue, since it's Bitcoin, you're not supposed to mind the country you're in. The mediums such as P2P exchanges don't really give a damn, you can access them and trade with crypto even if it isn't legalized in your country. It's you limiting yourself if you let such factors actually stop you from using Bitcoin.

Bitcoin is considered an asset would be better off. Everyone knows bitcoin as a financial investment industry. But being developed as a means of payment is also very attractive. It looks like bitcoin can be used as both.

Do you think exchanges operate in all countries. Most highly technologically inclined countries ban crypto as well as exchanges from operating. Exchange don't exist in all countries this will still bring you back to the limiting factor which your country will place on your free transaction with bitcoin or anyother crypto currency

Whatever it defines the individual, it could be an asset, currency, store of value, commodity.

So I guess there could be no arguments, the subject matter is open for debate and there is no right or wrong answer. And that is the beauty about bitcoin, it might be very volatile, but each and everyone of us here could treat it the way we like, no one is going to force you and change your stance about it.

Here's what Satoshi said in 2010 in a similar thread in this forum:


source: https://bitcointalk.org/index.php?topic=845.msg11403#msg11403

If that is the case, we can keep bitcoin in our wallet without telling them that we have bitcoin or altcoin. We can hide it until the government allows us to use crypto again and I guess that at that time, the price of crypto will be so high. Chinese people can do this while waiting for the government policy to allow them to use crypto while they can browse the crypto price without doing anything.

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.

If that happen then we don't have a choice but to hide but for sure there will be underground transaction towards that but we can expect that the rate is more higher due to that restriction they made but if we have long patience to hold and wait for everything will be in good shape again towards the government opening up their citizen to go on cryptocurrency again maybe by that time we can see bitcoin at more higher digits knowing bitcoin always show good progress every year pass.

Correct, as others have pointed out, the owner decides what his or her Bitcoin is,
It can be stored until an opportune time when the owner decides what he/she wants
to do, trade, convert, sell, spend or exchange.

Tell El Salvador for example that Bitcoin is not currency
Tell Michael Saylor that his 91,579 Bitcoin are not an asset

I also agree that the opinion that bitcoin is an asset or currency depends on the country we are in.
in some countries, bitcoin is prohibited as a currency, but is allowed as an investment asset, just like in mine. So, I treat bitcoin like any other asset that needs to be held long term, or traded.
in some countries like El Salvador, bitcoin is used as a legal payment alternative, so, I think a lot of people are using bitcoin as a currency there. however, what is special is, when the country legalizes bitcoin as a currency, then bitcoin can automatically be used as an asset.
Personally, I use bitcoin as a long term asset.

A guy I know, who I will not call a friend as I don't like this dude but all of my friends, or many of my friends seem to (which I just can't seem to understand why) made fun of me in a group chat once for saying that it was important to use bitcoin as a currency.  I think it's ridiculous and short sided as hell if you don't think bitcoin is a currency or should be used as one. Bitcoin is both a currency and an asset.. it CAN be both and it IS both.

For me I can see it also as both, It depends on how you use it, others use btc as an asset and a currency, so theres no problem with that as long as you did not violate any rules in your country when it comes to owning bitcoin.

It depends on what you're going to use Bitcoin for. You can either use it as an asset, a currency, or both. There's really no limits on what you can do with it. Governments can't decide for yourself on how to use Bitcoin, simply because the cryptocurrency is outside of their jurisdiction. The decentralized and censorship-resistant nature of Bitcoin makes governments' efforts worthless. They'll only try to regulate it by forcing centralized exchanges to play by their rules, but that's it.

I'd say Bitcoin is more of a multi-purpose financial system than a mere asset or currency. It's programmable money that's often better than Fiat. What you'll do with it is entirely up to you. Just my thoughts ;D

I still say bitcoin is a digital asset, because in my country there are no transactions that can be paid with bitcoin, maybe my country still looks ancient, but I don't worry about having bitcoin because the government doesn't prohibit crypto transactions

In my opinion, value doesnt translate to if its an asset or not, look at cardano, its not past $4, but it is totally an asset. Same thing with penny stocks, even if the value is very low, they are still an asset. What the price is now doesnt reflect what the price will be in the future.

Back to the original topic, I think bitcoin can be used for both, it just depends on what you use it as. Personally, I just hold my bitcoin, but whenever I want to buy something with crypto, I use a coin other than bitcoin because of the high transaction fees of bitcoin. But to other people its just as much a currency as it is an asset, thats the beauty of crypto, it doesnt have just one purpose, it just suits the needs of the people whenever it is needed. Some people use it as just currency, some people see it as an asset, and some people see it as both. It just up to you what you do with it!

Yes, the underground transaction will have so many customers because the government limited or blocked their access to trade crypto. As long as we can wait for a while until the government can revise their rules about using crypto, that will be worth it for us just to keep crypto in our wallet. Yes, the government will rethink opening up the access for their citizen to use crypto as before. I think the government does not want to be late to join in crypto like the other country, especially if crypto becomes a new trend in many countries.

Why the government considers BTC a digital asset, and it is very difficult to accept BTC as a currency, (IMO) the most obvious reason is because they don't want to make value of their currency decreas. When more people use BTC as currency, businesses such as banking will experience a drastic decline in customers. Because they can create their own bank wallet.

Also, The demand for currency issued by the country may also decrease. The reason is, export-import payments and tourists will choose to use BTC instead of having to exchange the currency of their country first.

In the end, we like it or not, personally, have to accept BTC as a digital asset, when the government has made BTC a part of tradable assets.

Yeah, it actually depends on how the person chooses to use bitcoin. But based on usability, I think bitcoin "currently" is more suited to be used as an asset (store of value). The transaction speed is low. The fees is sometimes very absurd. We don't want to be waiting for more than 10 minutes just to buy something, do  we? So for now, buy and hold. Once we find a good solution on how to solve the current issues with the network, we can start using it as a regular currency (and enjoy those extra profits we made while holding it!).

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.

Well, in that case, if I keep my country's side and give my opinion, then bitcoin is a virtual currency which is also known as an investment asset. Which is a simple and explained sentence for your question? I hope so. There has two types of opinion :
For the government: If the country has its own native currency and they don't want to ignore it, then they can use bitcoin as an investment asset and a secondary digital payment method.
 
I don't care how the government adopts it. My only wish is that the government approves it. Then it will be my turn to use it. That's it.
 
And the thing is, bitcoin is best from both points of view. No matter what you choose as a currency or asset, it will perform its best. 

I think this describe bitcoin extensively more than your other friend. It can be use in both ways and that's what make bitcoin one of the best innovation ever invented.

Yeah i agreed with you, bitcoin is an asset because it's obvious that bitcoin yields positively when it's come's in terms of investment, and anything that gives return weather in a larger form or a smaller quantity is an asset, so i think many people will have different definition or different way of getting ride of assets definition, so in summary, cryptocurrency especially bitcoin is an investment if really know the rudiments of the cryptocurrency.

The legalization of Bitcoin in most countries is becoming alarming and sounding as something forbidden by some. Countries that placed ban on the use of Bitcoin will find it difficult in terms of exchanging it to fist, except going the the online way, which most exchanges now supports (the P2P) process. Outside that, it's almost impossible to change your Bitcoin to fiat, and on that point, it becomes an asset for the store of value. But when it comes to a country where the use of Bitcoin is accepted with ban or restrictions, the use becomes interesting,and using it for the store of value becomes more exciting when it is time to withdraw/convert your crypto to fiat.
The point is this, whether it is taken to be an asset or a currency, it depends on the country which the person is located.

So far even though many large companies accept bitcoin as a legal currency payment but in the eyes of investors or traders Bitcoin is still a valuable asset that has a high selling value in the long term and we all know that, every few years Bitcoin has a significant increase in price and the community invests their money and believe in the expansion of Bitcoin on an international scale of asset

well bitcoin for me bitcoin is both an asset and a currency, it falls in the category of asset because you can invest in bitcoin and also its price is not in a stable manner it always fluctuates depending in the demand and supply of it, it also falls in the category of currency because you can buy products and services using bitcoin, although the amount of services and products is not that many still you can use it for payment.

Bitcoin is an asset and it is indeed a currency, a virtual world currency that has been proven to attract many enthusiasts so that some of its advantages are able to make it more recognizable as well as close to humans.
It's just that all governments or countries have different assumptions and responses regarding Bitcoin itself.
Overall.. at the first, I think it's more dominant as an asset that has multiple steps until it can become a means of payment in certain countries because of its increasing popularity.

Well, during the prohibition period in America, liquors prices went up because it was prohibited by the US government then. When marijuana was illegalized the price went up and the value of the drug went high. Governments has reasons why they illegalize or ban a certain commodity, mostly for political or economic reasons. I do not agree that Bitcoin only has value if it is legalized because even without being legalized or decreed being legal, Bitcoin still made it way up and prices went astronomically high compared to its value 11 years ago.

depend on how you use and belief in Bitcoin , it will be asset if you will only Buy and Hold or sell the coin and this will be a currency if you constantly use for transaction purposes .
In the past almost all of them has different outlook and stand for Bitcoin but nowadays? more and more countries are considering accepting and adopting bitcoin.
El Salvador already started this run and there are some who is considering also.

I'm surprised that poyaa87 hasn't stopped by to comment, I guess he's a bit fed up with it.

The question raised by the OP, to my mind is a false dilemma, although he then comments that for his other friend it can be both.

My understanding is that it is. It is on the one hand an asset, because it is used as such, mainly as a store of value, and many people buy it expecting to get a return on investment, correctly, because since its birth it is the most profitable asset in the world.

It is also a currency because it is used as such. Let's look at the number of daily transactions. And let's compare it with gold, for example. Gold was used as a currency in the past, today it is no longer. Gold is not used to pay in stores or casinos, or to pay people for their services, as is done with Bitcoin.

I think bitcoin is a resource or currency that depends on which country we live in. I currently live in a country where Bitcoin is completely illegal. So I'm using Bitcoin as a resource. If you want to use Bitcoin as a currency, you have to do it in secret. So I pray that, Let Bitcoin be legal in my country too.

Bitcoin was designed as a currency and not the assets. But people call Bitcoin digital gold . Once the Bitcoin will be widely used as translation , every one will agree that Bitcoin is a currency.

Bitcoin volatility is another major cause why people do not want it to consider as a currency.

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.

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.  ;D ;D

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.

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

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.

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.

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.

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.

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 .

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.

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.

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.

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 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.

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.

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.

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!

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.

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 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.

These is nothing to argue mate because only people that really don't understand crypto has an issue about that.

But for people like us who has already used this a currency and also still holding the coins and experience to profit while holding?
no doubt that we are buying those options and that is Bitcoin is a Currency and Asset .

They can say that bitcoin is a currency but if they go to someplace and can not accept bitcoin as a currency, they will convert their bitcoin into fiat. Maybe we can say that bitcoin is a currency when many countries accept bitcoin as an option of the payment system. While our country is not yet given a clear statement about bitcoin, we can use bitcoin as an investment or an assets and earn as many bitcoins as possible. So when the time comes, we will have many bitcoins or altcoins that we can use for the payment system.

Bitcoin is Bitcoin,
and are all the concepts we put on it.
In an attempt to understand its essence and until you realize that it is not necessary when its essence is everything, similarities and contrasts are characteristic of Bitcoin for other problems in life.

This is same case with me, but now I am using this in both way even it's not good use case in our country but day by day its users improving in numbers which is excellent for us. I am feeling much better and safer with this as having asset and using as currency because few years back I was facing some serious trouble for transferring my funds due to restrictions and high fees, but this bitcoin brings some revolutionary changes in my life just because of this now I am able to change my life in very good way.

As now, I can buy many products which was never possible without this bitcoin and some other great benefits also through just because of this bitcoin, I will be really thankful for this community for having this all without borders.

the use of bitcoin is intended as a currency, as some of the explanations above, cryptocurrency is an alternative to currency. however, because the price keeps going up, and not all countries allow transactions using crypto, so people turn this alternative currency into an asset and take advantage of its unstable and rising price. personally, i also use bitcoin as an asset.

Does it matter what Bitcoin is, it both a currency and an asset. The most important things about bitcoin is that it is freedom and can be used in anyway you want. Bitcoin is the freedom the government do not want you have which is why they are trying all their best to end it but have not been successful because you can not kill what you can not control and Bitcoin is not controllable.

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.

Bitcoin is a cryptocurrency but not the type of currency that we are familiar with. Because it doesn't aim to be the world currency or a currency of any government. Maybe El Salvador has made it legal tender but this doesn't change anything about Bitcoin's main structure and goal. It is more of an asset now. People choose to invest into it for a long term and make a good profit in the long run for example.

For now I prefer to call Bitcoin an asset, because in my country Bitcoin is prohibited from being used as a means of payment. That's why I only use
Bitcoin as an asset, and there are still many countries that prohibit using Bitcoin as payment. In fact, Bitcoin was originally created as an alternative
payments, so we can make financial transactions without a third party. But unfortunately Bitcoin is still rejected in many countries as a means of
payment, and we have to accept that. But I believe in the future there will be countries like El Salvador that will legalize Bitcoin as a legal tender.
If many countries start accepting Bitcoin as a legal tender, we will finally be able to truly experience Bitcoin as a currency.

It's a combination of both, bitcoin is used like a currency hence the currency in the word cryptocurrency, it's an asset since people are trading it like stocks and stocks are properties so in extension of comparison, cryptocurrency is also an asset.

For me, it's more a currency because even if it's traded, it still is used like money, forex is mostly currency and they're traded so I think that it's not really the trading aspect that makes bitcoin an asset, maybe it's for some people but for me, it's currency.

I think bitcoin is an asset because its fluctuating value is similar to other assets such as stocks, gold, property and others, although some say currency but bitcoin cannot be used for direct transactions such as legal currency, we hope that more countries accept bitcoin equivalent to legal currencies.

I think that Bitcoin is an asset rather than a currency. Because Bitcoin is not classified in the same place as fiat currencies. Bitcoin is a digital currency and its purpose is completely different from the fiat currencies. It has no such goal that it wants to become the global currency or the legal tender of as many countries as possible. It has one certain goal that people will have the freedom of trading it in the way whatever they want without the need of a centralized system.

Bitcoin may not be useful as a currency, but that could change in the future as network upgrades are rolled by developers in order to make high fees and slow confirmation times a thing of the past. Ultimately, the person decides how he/she wants to use Bitcoin. It's a multi-purpose financial system that's often better than Fiat. Not only that, but Bitcoin makes a great store of value just like Gold. It doesn't matter whenever Bitcoin is an asset or a currency. What matters is decentralization and censorship-resistance. As long as Bitcoin stays decentralized, there should be nothing to worry about. Just my thoughts ;D

Your friends are smart. But I tend to share the same sentiment with the second friend who believed that Bitcoin was both asset and currency. Bitcoin would've completely stood as an asset because of its erratic nature if not that it's also used in the purchase of goods and services. If it were completely an asset I ain't sure El Salvador would've adopted it as a national currency (did you see that?). I believe the original plan for Bitcoin by Satoshi was for it to be used as a currency, not as an asset. But now we view it as both asset and money.

I think bitcoin can work for both, an asset because of its fluctuating value and a currency because now more and more online shops accept bitcoin for payments, with a growing community there is no doubt that one day bitcoin can become a global currency that is recognized and accepted by all countries .

To me BTC acts as both a currency for a wide range of possible assets, and as a store for asset value. It is the best of both worlds  ;D

And considering the much attention BTC has been getting, with more retails money to go in, needless to say that I feel more optimistic than ever.

I think currently bitcoin is more appropriate to say as an asset, the use of bitcoin is only limited to the community so it cannot be used directly as in fiat, of course the state will not take the risk by accepting bitcoin as fiat because it cannot control the circulation and transactions of bitcoin so many countries have banned bitcoin .

Well, bitcoin is really having two such roles and both roles are very harmonious and without conflict but that is just the time when both these roles are not yet capable of oppressing each other, more precisely, users like us do not have a certain bias and still favor between asset and currency activities. But when the bias starts to manifest, the nature and greed of users want bitcoin to operate with a single role, the unpopular role will disappear and even if still living with two shadows, weaker role is just nutrients and catalysts make the dominant role stronger

Probably both, because you can used bitcoin what the way you like as long as it's not restricted in your country or banned,  because infact there some exchanges that offer p2p features wherein no need kyc and etc in order for us to covert it through real fiat, so it depends to us.. But just be careful with other platform that had the same features, because you know we cannot avoid scam schemes nowadays . So just be aware and always trust those already have good ratings around the internet .. Just saying.  ;)

Bitcoin is currency and assets too. Because it helps in both ways as assets we can hold assets for a long term to keep profit in future and as a curency we can use to transfer money to other on a digital way. It is secure and safe.

It could be both a currency nor an asset, to be honest it depends on how the way each individual treat their own bitcoin. Even though the country or the government didn't allow utilize bitcoin as a currency in its country but that wouldn't stop the citizens to treat it that way as long they do not use them in their own country.

Bitcoin is like an open book! It is what you make it; It becomes an asset when you choose to invest into it; Buying and hodling. Meanwhile it becomes a currency when you use it to make payments for either goods or services. But majority would say it is an investment. And honestly, I don't blame them because majority buy it as an asset which will hopefully give them returns.

In my opinion, Bitcoin can be classified as both currency and assets. Why? BTC is something that you could buy/sell and has a significant monetary value which changes over period of time depending on the demand. Moreover, its a currency used in digital world which allows other people to transfer money without any 3rd party intervention.

I think bitcoin can be useful for both, but because there are still many countries that banned bitcoin, bitcoin is more suitable to be said as an asset, this is because the value that is always changing is similar to other commodities, but the thing that makes me happy is because the value of bitcoin continues to increase so I buy bitcoin is a very profitable thing.

You have a point mate, in my own personal opinion I do look bitcoin both as an asset and as a currency but as of the moment due to the fact that here in my country where I do live in cryptocurrency is not yet considered as a legal tender so as far as I want to use crypto to pay in acquiring goods and services all I have to do is to convert it into fiat before I can use it to purchase goods. Bitcoin is a good asset but I think if these digital finance get a good shot to be used as a legal tender I bet many would be love to use bitcoin as a payment than using fiat.

Bitcoin is both an asset and currency because it is flexible the way it made. You can have bitcoin and serve it as your asset and make profit from it and bitcoin can also be a currency to do payments because originally bitcoin is a digital currency. It depends on the user on how to handle his/her bitcoin.

You decide what to do or how you handle your bitcoin and not on what your country or government says about it.

And perhaps, that is actually the reason for its creation as a currency but as the situation goes hard and the adoption takes so long, this has been considered as an investment for while.

I do both but most of the time I'd use it as a currency in a way of converting it to fiat money since it was not yet highly accepted in our country.
I'd look forward to seeing Bitcoin finally as currency as that is actually intended for but somehow, might wait for many years before it happens.

So whatever we do on our Bitcoin is not the main concern and the fact that we are enjoying doing this as an asset or as a currency seems fine.

I guess Bitcoin is both. Back in the old days, I tried to use bitcoin as a currency as much as I could, but since it is also a store of value, later I stopped using it as a currency and begun hoarding it. When I look back and remember that I have sold half a bitcoin back in late 2016 for 250€ so that I could pay for a trip to Amsterdam, I get sick... Ended up being a F$%# expensive trip.

Now I see Bitcoin more as digital\virtual gold, so it makes sense to hold it while its value grows. While Bitcoin can be used as a currency, it is not the best option available in the crypto world. It is cumbersome and very expensive to use, so why should we keep using it as a currency?

almost everyone hoards bitcoins to make them assets, and as investments, because the government has never banned bitcoin for us to make assets and invest, if we make it a currency, we have to live in a country that has legalized bitcoin, and has accepted bitcoin as currency which is legal, in my country the government still prohibits using bitcoin as a legal tender, so for now I focus on bitcoin as an asset, not as a currency..

It's totally different for everyone, you can see it as anything. But personally I think that bitcoin is an asset and not a currency. Currency is something that is widely accepted in a country, such as the US dollar.

Currencies represents a country, when you talk about a country you talk about their currency that is being used by then and is accepted globally. But, that doesn’t mean that an asset cannot also serve the purpose of daily transactions or being used to settle debts, it can as well be used for all that, both currency and asset can as well be serving the same purpose. So whichever one you choose to call it, it is up to you.

Right now I view bitcoin as an asset. It's not really spendable where I live currently so it's hard to use it as a currency. I think in the near future either bitcoin or another faster/lower fee altcoin will be used as currency.

CryptoCURRENCY the name it self is clear to name this as currency right? lol.
______________________________________________________

but for me depend on how we treat the coin.


>>>>>>>>>>>>>>>>>> We can use this as Currency for payment and for transacting online.


>>>>>>>>>>>>>>>>>> We can use this as asset like what many of us here do, HODLING for particular time.

With those it is clear , this is a currency at the same time a asset.

Bitcoin can be used for both and it all depends on how you use it, if in your country bitcoin is allowed to be used as legal tender and is available in shops then bitcoin can be used as an alternative means of payment like fiat and can also be used as an asset.
in the country where I live bitcoin or other crypto is only allowed to be used as an asset or investment and not used as a means of payment because the legal tender is the local currency, and but that rule doesn't matter to me because the most important thing for me is that I still can use bitcoin or other crypto and even though it is not allowed to be used as a means of payment I can still convert it for any payment use and it can also be used as an asset. both play a role in bitcoin and all depends.

Its a currency and an asset as well. But actually, this depends on how we treat bitcoin.

Its a currency that can spend especially if you're in a country wherein bitcoin is set as legal tender. On the other side, because of the volatility we have the opportunity to make money through it and that makes it more attractive to own bitcoin unlike if you're just storing your money in banks with no or less interest.

Just like I said it depends on each of us because we have our own way on how to treat bitcoin for our own convenience.

It depends on who are you asking with.
This kind of question is subjective because some investors will say that it is an asset but some will say that it is a currency as well.

Either way, Bitcoin can either be an asset or a currency. It can be both but it can be either one of them. It will just depend on how you will treat Bitcoin and how you will use it.
If you are an investor and you see Bitcoin as another type of investment then you can consider it as an asset. On the other hand, if you see Bitcoin as a currency (which obviously is a currency at first place) then you can consider it as a currency.

According to the definition stated in Google, a currency is defined as:

With that in mind, it begs the question whether BTC is generally accepted or in use in a particular country. Well this may vary depending on the country and their current laws. In El Salvador, BTC was categorized as 'legal tender' wherein it may be used to compel a person to accept as a form of payment in debts, etc. But generally speaking, BTC cannot be considered as a 'currency' as it is not 'generally used' in most countries.

There is a difference between being 'generally accepted' and 'tolerance upon its use' wherein the former has some sort of acceptance imposed by law and the latter, while there is no law prohibiting its usage, is nonetheless has a threat of extinction once the government bans its usage.

I think it's more of a currency rather than an asset, I think that we should continue to reinforce this idea that bitcoin is a currency and not an asset because if more people believe that way, they won't be taxed like an asset.

In my personal view, Bitcoin is both an asset and a Currency and most especially depending on your country of Origin.
Economically my country Nigeria is not at its best, so many young people who have the knowledge of cryptocurrency prefers their cash in digital currency as an asset because of insecurity. So they better have it stored than see their physical assets destroyed.
As a currency, here the country is against cryptocurrency and its not legalised and government are flagging people and institutions involved but then, when your base currency is turning shit before your eyes, you have to find a way to boycott governments order and continue using cryptocurrency as your currency to avoid devaluation. So as an average Nigerian Bitcoin serves the 2 purposes for me

I think bitcoin is more suitable as an asset, we all know that the value of bitcoin is very volatile, the up and down price of 1 bitcoin can reach tens or even hundreds of percent per year, and of all types of investments that I have participated in such as stocks and mutual funds, only bitcoin is the most profitable.

I think bitcoin is a cryptocurrency that you can use as a future asset. because assets and cryptocurrencies have different meanings. if you want to have a future asset by taking advantage of the digital age, I think this is the best way to buy bitcoin. but you have to be careful when buying, because bitcoin has an erratic price (pump and dump)

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.

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 .

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 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.

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 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.

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.

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 .

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 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..

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.

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.

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.

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.

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.

we cannot see to equate bitcoin and gold from the point of view of market fluctuations in value. that would tell the difference.
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.

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.

There is no problem if why people differentiating it, it is how people see it to have its purpose in real life, not just because it was satoshi made this for as a currency alone. It probably we can't change this situation as not all think and use this in a form of currency but the majority have considered this as a form of investment/asset.

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.

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 a country like mine, Bitcoin is only an asset and can't be a currency. That is legal as an asset but illegal as currency. It has been stated very clearly and strickly in our law in the country. So, there si no chance to be a currency in my country right now.

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

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.

I know it can't be mean but hopefully, your government leader will even reconstruct that law and consider the potential value and help of crypto into the life of their people. They allow it to become an asset, they suppose to allow it as a currency instead. Even it was officially accepted but at least seeing it was not illegal.

Well, this also happens to us but at least, we can still make use of it. It doesn't matter if is not considered as legal tender but at least we don't worry that someone will come and arrest us.

That depends on the use of Bitcoin. If it is going to be used as an exchange just like money, then we can call it currency. Since the supply of bitcoin is limited and it is widely stored by people as a hedge against inflation, it is functioning as an asset.

If Bitcoin was an asset or a currency is a question we shouldn't ask again but unfortunately that some people are still naive about what Bitcoin was.
Bitcoin is an asset and currency but what defines what Bitcoin is to everyone one of us is how we currently use it. Some people currently use it as a currency while some people use it as an asset for future benefit.

You define Bitcoin as an asset because you only use it for investment purposes. I guess Bitcoin cannot be used as a payment tool in your country. That's why people in your country will consider Bitcoin as an asset only, including you. I bet you also will tell us that Bitcoin is a real currency as well once it is already legal as a payment tool in your country. People have different perceptions now because they use it differently.

I think bitcoin depends on where you live, when you live in a place that legalizes bitcoin and makes it a legal medium of exchange, bitcoin becomes both an asset and a medium of exchange. but when in your country forbids bitcoin to be a medium of exchange, then it is clear that bitcoin is only an asset for you.

It happens because Bitcoin is only legalized as a digital asset in most countries in the world. So, people cannot use it for payment purposes. Another reason is Bitcoin price very volatile, it is the chance of gaining money from trading/investing in it. Some top companies and popular people already invested in Bitcoin, which also triggers more people to use Bitcoin as an asset. These are some reasons why people prefer to use Bitcoin as an asset than using it as a payment tool.

Bitcoin has been more an asset to me plus a potential currency especially in the country I come from. Bitcoin has a steady and unstable growth in world economy and a beneficial asset

Well for saying it was stable then I will not agree on this since even before bitcoin is unstable market is so volatile that's why its dangerous for newbie to go with it without bringing any knowledge about it. Although eventhough bitcoin price dump the good thing there is has more bigger chance to recover. But also I don't like that it will go stable since for me the volatility is very profitable to us traders.

As of the moment bitcoin could be interchangeable used as a currency and as a store of value, although we would have to admit, it's seeing more utilization in the sector of investment compared to finance and currencies because of the high volatility rate that makes it a substandard currency and a very potent investment venture. In the years to come there should be some paradigm shift as we enter a new age where everything is ought to be digitized, people will see more opportunities in using bitcoin as a currency. Not to mention the ginormous transaction fees that you have to pay just to transfer a few bitcoins to other people. Yes it's great that boundless transaction is made but then again who would pay 1000 dollars for a 1000 dollar money transfer right? This is why people hated using bitcoin in transactions especially when there is a bull run because the volume of transactions just overloads the system, therefore causing it to charge higher fees and slower transaction timeframes.

To be honest, I can see it as both. It's an asset in a way, that's it's an investment and currency as seen in general, Crypto is Virtual currency. We believe a currency is something we can see, we can feel and we can touch. But yeah, this was a classical way we see it. Though, it depends on how we handle things but an asset if turned into something with value then for sure it will be a Currency once converted.

bitcoin is a type of cryptocurrency, and as the name suggests cryptocurrency, which has the purpose of being an alternative substitute for the existing currency. however, because bitcoin is decentralized, and not controlled by anyone, its price is unstable, but tends to rise as adoption continues to grow. this, makes many investors interested in turning bitcoin into a digital asset. and in fact, nowadays, bitcoin is a huge success being an asset to its investors. because of this, I also agree, that the use of bitcoin can be used as an alternative currency, and also as an asset. however, I believe that bitcoin's main function was created as an alternative to payments on the internet.

when you buy bitcoin on an exchange and trade there or just hold your btc then bitcoin is an asset
but when you buy something and pay for it with bitcoin then bitcoin is a currency

The point I want to convey is that bitcoin is both now it's just how you use it
if someone says bitcoin is only one (an asset or a currency) then he/she doesn't understand bitcoin completely

For my country, Bitcoin is an asset. We know bitcoin is a cryptocurrency and asset. But It's to different ways different countries. Bitcoin is most valuable coin in crypto market. Bitcoin price increase day by day and countie to development. I think bitcoin price will be more increase in future.

Agree, Gold can also be used as a means of payment but it is not yet legalized and people often refer to gold as an asset.  There are other names for digital gold bitcoins or trillions of assets that simply represent bitcoin's status as scarce allowing for uses as a premise against which to judge its standard.  Example: For El Salvado, they had bitcoin as a legal means of payment, it formed a new standard of currency despite many contradictions.
It depends on the purpose of use, place of residence, regulations… Bitcoin currently does not have a specific standard to classify it as an asset or currency.  It will have both

It depends on the purpose of use, whereabouts, regulations… Bitcoin currently does not have a specific standard to classify it as an asset or currency.  It would be both, another way it could be a financial management tool, perhaps not ascribing bitcoin to a particular standard, because it loses freedom.

I think the important thing to realize is that bitcoin is both an asset and a currency. I hodl some for saving because I believe the value of each bitcoin will rise over time. But I also use it as a currency. If I see something that I want and someone is willing to accept bitcoin for it I won't tap into my savings, I'll purchase the amount of bitcoin I need to make the purchase and therefore contribute to the economy. I don't think it needs to be one or the other. It should be both.

From my point of view, i'm seeing btc as an asset.
I doubt BTC will ever be used as a daily driver currency to pay for cigarettes and bubblegum at gas stations (especially in my country), but I can absolutely see people buying houses and cars with it. Transaction speed matters. I am still learning, but as far as I can see it would be really illogical to try and change bitcoin to become a daily driver currency

Bitcoin can be used an asset and also it can be a currency, both. It depends on how you use it in your own perspective or point of view. But I personally I think and see bitcoin as an asset, the long-term kind of asset. In this way, I make more profits from it and make it flexible enough accord to my own perspective.

Personally, in my country bitcoin is not that much famous and no one accepts it as a form of payment nor used it as a digital currency.

Bitcoin is unique in that it has 2 functions simultaneously namely asset and currency, the number of users continues to increase and the number of limited stocks makes the value of bitcoin continue to increase, of course this is good news for investors to make bitcoin a long-term asset.

Depends on the purpose it could be an asset or currency because there are people who use the bitcoin only for transactions and different payment methods depends on the country if they regulated the use of bitcoin itself. It can be assets some of them storing only their bitcoin to the future things of investments. It depends on the purpose but they can do both.

As for now only a few stores in my country accepting with the use of Bitcoin payment and sending with the QR code scanner to make afast transactions

You're right about that. The term "cryptocurrency" means cryptographic currency. Bitcoin was created in the first place as an alternative "currency" during 2008's financial crisis. It was stable before it began trading across exchanges. Back then, people used to pay in Bitcoins without caring about how much it was worth in USD (Fiat). Things have changed and now people rely on Bitcoin as a speculative asset for profiteering.

Based on how people use Bitcoin today, we can say Bitcoin is a multi-purpose financial system. It can be used as both an asset or a currency depending on government regulations and people's daily needs. What matters is not how Bitcoin is used, but rather if it works as intended. As long as Bitcoin remains decentralized and censorship-resistant, there should be nothing to worry about. Just my thoughts ;D

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

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.

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.

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.

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.

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 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.

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'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?

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 :)

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 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.

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.

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. 

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

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

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.

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)

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.

I don't think it can be a country based discussion because legalizing bitcoins will only give it acceptance as an asset due to high volatility in its value and no long term stability available. It can be used as a way to pay but cannot be considered as a currency paid, as the price still keeps fluctuating during the gap of time till btc transaction gets confirmed. So whether low or high in value after transaction is done, bitcoin will be overlooked as a currency for being unstable due to illiquidity.

My country doesn't allow me to use bitcoin as currency, but my friend accept bitcoin as a mean of payment. LOL

You all probably already know that Indonesia does not legalize bitcoin as a legal tender because we have laws that must be obeyed. Basically we can only use bitcoin as a tradable asset on any exchange and not limited to decentralized or centralized exchanges. But some people may secretly continue to use it as a mean of payment because the government and its regulation may never detect it.

I guess bitcoin is a currency to those countries that made it legalized in their country. Since their citizens can use bitcoin to buy what ever they want in the country is generally know to them as a currency. It can be use to pay children school fees, children Christmas and new year clothes and it can also be use to buy cars, build houses and so many things in the country.
Bitcoin stand as a currency to those countries that believe the reason why it was created in the world. It can be use to purchase any type of goods in the community because it is generally accepted in that particular country that made it legalized.

Bitcoin can exist as currency and asset at the same time. Depending on the attitude of each country towards cryptocurrency, when the country in which it is located believes that Bitcoin is legal, it can be used as a currency for payment in daily life.
The characteristics of Bitcoin price fluctuations and changes, many people will also use it as an asset investment, when its price rises, the holder will get more profits from it.

I consider Bitcoin to be rather an asset than a currency. It can't be used as a means of payment in my country so far, so I can only invest in Bitcoin without an opportunity to buy something with it, so I take it as an investment tool for passive income in the long-term. On the other hand, when Bitcoin will be accepted more widely, I think I will take it as a currency as well.

Bitcoin's intended purpose is as a medium of exchange but it may also be used as an asset and investment. We find Bitcoin return properties are very different from traditional asset classes and thus offer great diversification benefits. Bitcoin can exist as currency and asset at the same time. Depending on the attitude of each country towards cryptocurrency, when the country in which it is located believes that Bitcoin is legal, it can be used as a currency for payment in daily life. Bitcoin is very profitable but also dangerous if you are not careful.

Bitcoin have got multiple usage. Most of the countries have regulated the usage. Governments haven't allowed it to be used as a legal tender. This makes bitcoin more of an investment, asset than currency. Countries like El Salvador have considered bitcoin a legal tender. As it is a small country and it hasn't got its own national currency, the decision from the government is making a big change in their economy.

The adoption level of bitcoin have increased with time. Maybe when majority of the countries start accepting bitcoin we'll see it's major usage as currency.

yeah, in my country they allow just for fiat currency to making transaction, they never allow the other fiat or cryptocurrency use as payment method. this can make country strong, like no one can use the other thing except this one.
and people will making transaction quietly, not to break the rules, sometimes they want to try, or they just have crypto. but mostly people will keep what they have, because crypto is to valuable here.

I think bitcoin is an asset but it is not in the form of a currency because the use used in the world of bitcoin is in the form of a digital transaction, so we can say that it is in the form of currency circulating among the public.but bitcoin is also almost the same as currency in general. because of this we can also do a transaction in various forms of digital currency investment

According to Wikipedia, I think the definition above about a currency somehow explains btc to some extent, it may not be widely accepted as the real fiat currency but it is getting accepted in some places, so I believe it is safe to consider btc as a currency.

Without been informed bitcoin is currency but only thing that differentiate it from other currency is that is a digital currency and i believe that and you can not see it physically with naked eyes like fiat currency, which i believe recently that you can use bitcoin to purchase anything you want or like to buy without problem if your patterner in business agree with your method of payment, most of the countries as i speak with you is working with the bitcoin industry of infrastructure now using it as currency.

In my country Bitcoin can only serve as a valuable asset, but if I use Bitcoin as a medium of exchange, I can use it in the name of mutual agreement between the buyer and seller but there is still very little in my country. Of course, the definition of Bitcoin as a currency or a valuable asset depends on the regulations in force in a country, although Bitcoin can actually function as both. In my personal opinion, Bitcoin is more profitable to be used as a valuable asset or traded on a crypto exchange because it is more profitable and can be used as a business and investment in the digital era like now.

bitcoin is an asset and is not in the form of currency but we can use it for an investment and we can liquidate it into cash, bitcoin is an asset that we can store for a long time with an exchange rate that may change from time to time. time and we cannot predict the rise and fall of bitcoin for a long time, therefore bitcoin is said to be an asset that we can keep as a form of investment

jelas itu aset dan uang mata digital dunia,,bagi saya sangat mempengaruh bagi ekonomi suatu negara atau per pribadi tergantung aset di beli atau mata uang yang dia inves di cypto tertentu

Indeed. Without a stable value Bitcoin cannot truly be a currency. Rather it is a commodity asset that one trades, like gold or silver, in hopes that its value will rise and yield a trading profit. Bitcoin's intended purpose is as a medium of exchange but it may also be used as an asset and investment. But if you'll think deeper, Bitcoin can be both.

Most countries in the world still prohibit Bitcoin as a means of payment, therefore most people think of Bitcoin as an asset. Only a few countries allow
residents to use Bitcoin as a currency, there are even countries that prohibit the use of Bitcoin in any form. So don't be disappointed if we live in a country
that prohibits using Bitcoin as a means of payment. Because so far Bitcoin is more beneficial when we use it as an asset, that way we can make a lot of
money from Bitcoin. Therefore I also live in a country that prohibits using Bitcoin as a means of payment, but I am grateful that I can still use Bitcoin
as an asset. Even though Bitcoin was created by Satoshi Nakamoto as a currency like fiat, but indeed the government is too worried that Bitcoin will
replace fiat, so it only allows Bitcoin to be used as a digital asset. Hopefully in the future, what the government of El Salvador is doing by legalizing Bitcoin
as a legal tender can be followed by other countries. So many people will be able to use Bitcoin as a currency.

think that both are things that should and can be common. countries that support bitcoin consider bitcoin as a means of payment as well as an investment tool. choosing between the two will only confuse us.
Personally, until recently I used it as an asset because the price was very high and I plan to stock it in large quantities if the opportunity arises. however, I consider it both if universally

I had the same question as Why not both? Its considered as both. Yes those who hold it for a long term, its turned as asset and the waiting period is going to yield a huge profit as Bitcoin is move forward. And yes obviously its a currency. Its utilized as a currency as of now. Unlike other assets like gold, silver, platinum, diamond and land, Bitcoin and other crypto currencies have unique feature to be as an asset and as a currency. 

Yes, I've seen someone buy an air ticket by Bitcoin from online, he used Bitcoin to pay the fees, So it is okay to use Bitcoin as currency. Maybe some countries don't support any transaction via Bitcoin but still, You can use it to pay fees internationally. Suppose, in the USA no local shop accepts "Saudi Rial" as payment, but still, Saudi Rial is a currency.
As well Bitcoin is an asset too, cause it gives us interest continuously.

appropriate. this is the most problem for people who really don't want to make bitcoin a legal tender.
on the other hand, when bitcoin is used as an option, this will make it easier for us to determine the means of payment because of course there will be other options besides fiat.
but when bitcoin is used as a basic payment, it will be confusing because it will be inconvenient