A currency or investment?

[BTCevo]

I’m absolutely certain that in some parts of the world at the moment you could gain investment with the following business plan:
1) Create new digital currency.
2) Allocate 10% of new coins to investors.
3) Profit!

So I’m not sure that I see anything to stop a near endless invention of new digital currencies. And given that I don’t I can’t see what value most to all of them are going to end up having.

Link to complete article: http://www.forbes.com/sites/timworstall/2013/12/12/why-invest-in-bitcoin-when-you-could-invest-in-another-currency/

That is a nice article, thank you for posting. I feel the same a out how all these other crypto currencies just start their own currency, give out 10% to owners,etc and after proper moves, start gaining profit. Bitcoin is obviously strong and better, but such currencies kill the respect quotient.

Yes, but even if bitcoin might be the first crypto currency in the world, it doesn't mean that it will be the last. The only thing which keeps bitcoin ahead of others is more thorough adaptation of this currency compared to others.

Creating new altcoins is total waste of potential. Only delusional fools possessed by greed are going that way. I was fooled before by promises of new altcoins and I won't be fooled again.
All we truly need is put all resources into bitcoin and improve it - it will the best course of action. Stop Wasting time on the pump and dump trash coin.

I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?

I do use Bitcoin as a currency to purchase things some times. It can be a mix of both, a currency and an investment, i guess. I have invested Bitcoin, and I have also used Bitcoin to purchase things. If Bitcoin was accepted everywhere, then I would be more than happy to use Bitcoin as mainly a currency.

Actually bitcoin be the both, I personally use bitcoin as both.

I don't think if bitcoin be a main currency, except the gov/country is collapse like Greece, they use bitcoin now as main currency.

Why we must wait goverment to collapse then use bitcoin as main currency? If the price of bitcoin is stable enough to replace fiat I guess government can't deny it again so soon or later they will change it but for now I dont think it is time for that

[Mehek]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

[BTCevo]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term invesment is really good enough compare to others long term investments like gold or real estates

[greBit]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates

I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess

[BTCevo]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates

I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess

You wont even know about how will bitcoin go for the future. People here are saying that bitcoin is going to rise in some years may be 10-20 years but thats all is just speculation, although I know that bitcoin is a developing coin that will earn you a lot but without any support bitcoin wont be a good investment at all. Get one bitcoin is not enough if you are make this as your back up investment because it is too little for covering what you loss in the future with bitcoin price around $500

[galbros]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

This is a big issue and there is not a lot of agreement.  One of the major problems bitcoin has with adoption is governments settling on an answer.  In the US this problem is highlighted by the IRS viewing bitcoin as property while FINCEN views it as a currency.  We have to deal with regulations for both - very problematic.

Personally, I lean and prefer currency, but that would require it have a fairly stable value, and as a deflationary currency, I don't think that is too likely.

Good luck!

[neurotypical]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates

I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess

You wont even know about how will bitcoin go for the future. People here are saying that bitcoin is going to rise in some years may be 10-20 years but thats all is just speculation, although I know that bitcoin is a developing coin that will earn you a lot but without any support bitcoin wont be a good investment at all. Get one bitcoin is not enough if you are make this as your back up investment because it is too little for covering what you loss in the future with bitcoin price around $500

Bitcoin is constantly getting more support from a lot of fronts. A super long term investment of 20 years may make sense to own at least 1 BTC, but to be on the safe side, I would own at least 2 figures of BTC in my stack to be on a guaranteed success area.

[TheButterZone]

It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.

[Kapz786]

Same with me, I take bitcoin as a currency first, and then a investment. That's what bitcoin is, but not for me. Because I invest in bitcoin more than I buy/sell goods with it. I don't ever buy anything with bitcoin for myself. But I do invest in it. So that's just for me, and I believe for most people on this forum. Just like money itself, but dollars is used more as a currency.

[maddy123]

For me, Bitcoin is a investment because it is a earning source but it is also a good currency

[Borisz]

At the current point I'd say its rather an investment. Most of the users here and on exchanges (I'm looking at you too!) are simply holding (hodl) and expect an increase in price later on. If it was a true currency, people wouldn't be afraid of actually spending it rather than sitting on it and waiting to maybe become rich in 1/5/10/whatever years.

It has the potential to become a currency, but for that we must wait.

[BTCevo]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain.

Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates

I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess

You wont even know about how will bitcoin go for the future. People here are saying that bitcoin is going to rise in some years may be 10-20 years but thats all is just speculation, although I know that bitcoin is a developing coin that will earn you a lot but without any support bitcoin wont be a good investment at all. Get one bitcoin is not enough if you are make this as your back up investment because it is too little for covering what you loss in the future with bitcoin price around $500

Bitcoin is constantly getting more support from a lot of fronts. A super long term investment of 20 years may make sense to own at least 1 BTC, but to be on the safe side, I would own at least 2 figures of BTC in my stack to be on a guaranteed success area.

How are you so sure? May be in your country it gets supported buy most country doesnt support on bitcoin because bitcoin will become threat to them thats why government are trying to press bitcoin as much as they can and make fiat as the only currency. If you want safe side you really need around 10 bitcoin or more and that will guarantee you will live on luxurious life. Only 2 bitcoin you really need to hope its price will rise more than $10,000

[randy8777]

It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.

you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.

[Zorrocoin]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

People use bitcoin as both currency and investment. They usually start out with using it as a currency and it turns out to be an investment as bitcoin is very reliable and promising. Using bitcoin as an investment would profit you a lot , so you should try investing in it.

[gentlemand]

Once it's considered a store of value, widespread use as a currency will blossom. You can use it as a medium of exchange right now but it's a niche. I'd guess that it's an investment for most people who hold it right now.

[needFREElunch]

I believe it's an investment since the price of the BitCoin keeps fluctuating.

[TheButterZone]

It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.

you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.

Just above $1000 is completely reasonable, and will need to go up to $1M USD to encourage victimless economic liberty transfers from tyrants' fiat. Once it hits $1M USD, each satoshi will be equal to 1 US penny, and the number of decimal places will have to be increased in the software.

Not selling BTC for less than the All-Time High≠Not holding forever.
Just above $1000 wouldn't make me rich.

[Borisz]

It's solidly in the investment column as long as assholes won't stop selling BTC for less than the All-Time High.

you as legendary forum member are aware of the mtgox/china +$1000 pump right? that was nowhere near a reasonable price. people can't hold their coins for ever just to make you rich.

Just above $1000 is completely reasonable, and will need to go up to $1M USD to encourage victimless economic liberty transfers from tyrants' fiat. Once it hits $1M USD, each satoshi will be equal to 1 US penny, and the number of decimal places will have to be increased in the software.

Not selling BTC for less than the All-Time High≠Not holding forever.
Just above $1000 wouldn't make me rich.

I'm not sure if those two things are compatible. If it was indeed artificially increased to the "all time high" then probably what we see this year is the "real value". For the past 6 months we are in the 250$ range (chart)

The current market cap according to https://blockchain.info/charts/market-cap is just under 4 billion $. If we wanted 1M$/BTC today, this would need to be 14'500 billion $. (~14.5 million Bitcoins currently each worth 1 million $; 3600 times of what it actually is). Now, how long do you think it would take for the bitcoin network to grow by so much (realistically)?

(I am not entirely sure if value can be solely based on how much money was put in the system, but by bitcoin's own "value" as well. Regardless, I think the above is a good indication.)

[jenifer0012]

Bitcoin serves both the purposes, its a great global currency as well as an investment. However I believe it's better to use bitcoins as investments since its prices keep fluctuating and so far we've seen a good rise only. Keep your BTC for 10 years and you might become a millionaire, great investment isnt it?

[Amph]

I believe it's an investment since the price of the BitCoin keeps fluctuating.

the price fluctuate also in fiat, to a minor extent, but still fluctuations are those, , so this is not the issue, bitcoin is more of an investment becuase of its great potential to rise to unbelievable price, when that price will be reached bitcoin will turn to a currency