Currency v Property

[Invulner]

I've been interested in the currency versus property debates in State courts throughout the USA.  It's an interesting topic to consider.  Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.

What are your thoughts?  And does it really matter? 

You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.

On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.

[freedomgo]

I've been interested in the currency versus property debates in State courts throughout the USA.  It's an interesting topic to consider.  Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.

What are your thoughts?  And does it really matter? 

You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.

On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.

Well it's property because the value appreciates while currency the value inflates.

[goldcoinminer]

Actually i prefer to think my bitcoin as property to be prrecisely as an investment, not a lot of people using bitcoin as curency, because bitcoin is more suitable as investment and for sure the price is going to get better in the future

As per the current laws, bitcoin can be classified as property (asset), investment (commodity) or even computer software. This is mere an opinion and of course debatable in the grounds of law in court. In any case, the government can put a tax on it but the rate of tax  would be different across the world so we can safely say that bitcoin is secure at the moment but might get complicated if some governments decide to put a tax on it.

It would be more interesting to see how they are going to collect this tax once they decide to levy it. It is not so much about your responsibility of paying it (which is expected) as how much money they will be able to actually raise through this tax. My point is that, I don't see any reason why a government would want to impose such a tax if it couldn't at the same time tract down compulsive tax evaders, given that their number will be quite close to 100% with any degree of certainty...

Rephrasing Napoleon, one should never tax what one lacks the power to collect

Well to be honest, crypto currency is a kind of technology which can theoretically destroy the domestic as well as international economies (though I don’t see such possibility in next 50 years for one and more reasons) so governments cannot bear the risk on the other hand it’s true that no one can trace movement of bitcoin with identity so it’s near to impossible for governments to levy taxes on it and who knows governments might be finding a solution for this.

Not necessarily the government will impose tax on the users but they just have to focus on legitimate business that is registered to them and collect taxes. Exchanges, online stores, and online businesses, they will be the one who will pay taxes from their income.

[groll]

I've been interested in the currency versus property debates in State courts throughout the USA.  It's an interesting topic to consider.  Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.

What are your thoughts?  And does it really matter? 

You meant as an asset instead of property, right? Because a currency is a property as well, to its rightful owner. In my opinion, bitcoin is not an asset. It is designed to be transacted on a day to day basis.

On some levels though bitcoin can be thought to be the perfect asset that has the property of store of value as well. So bitcoin should be classified as a currency-asset. Digital gold, some might call it.

Well it's property because the value appreciates while currency the value inflates.

When you say currency, I am assuming you mean money.
Money is important because it is a means of exchange for goods that might not be easily exchangable.money or currency also os a store value. A store of value means that money keeps its value in a sense that a car loses its value over time.unlike on property, property ensure efficiency within the financial system.

[Vaskiy]

Property grows in value in accordance to time period but currencies won't vary in values to bigger extent. Another thing is that holding properties won't create great legal issues compared to the holding of large sums of money. Property too at times get devalued based upon the location of the property.

[nisya]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

[mirakal]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

A currency normally inflates its value but bitcoins increases its value. So that's not a currency IMO, it's a properly and our property is in demand now and maybe in the future so it will continue to have a good market value.

[Babayega31]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

A currency normally inflates its value but bitcoins increases its value. So that's not a currency IMO, it's a properly and our property is in demand now and maybe in the future so it will continue to have a good market value.

A currency value rises normally depending on the inflation rate on the exchange market. When its compared to bitcoin value its progressive and increasing  its value, which could be considered as our property to have for the future. So for me both currency and property which i consider bitcoin have its equality towards economical growth of currency exchange which will be having great market value in the future of cryptocurrency.

[adi33]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

bitcoin may later be used as currency just like the dollar. but on the other hand my confusion when the future becomes the currency bitcoin. who is the creator of the country?. such as the dollar. were created in as

[error08]

I've been interested in the currency versus property debates in State courts throughout the USA.  It's an interesting topic to consider.  Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.

What are your thoughts?  And does it really matter? 

Whatever's your thoughts about what bitcoin is, it is a currency, property, electronic ledger, commodity, asset, formless money, it doesn't really matter. I assume bitcoin just like other currency and prefer consider bitcoin as my savings for future planning due to the value keep increasing and more development from founders and users in community.

[deisik]

Actually i prefer to think my bitcoin as property to be prrecisely as an investment, not a lot of people using bitcoin as curency, because bitcoin is more suitable as investment and for sure the price is going to get better in the future

As per the current laws, bitcoin can be classified as property (asset), investment (commodity) or even computer software. This is mere an opinion and of course debatable in the grounds of law in court. In any case, the government can put a tax on it but the rate of tax  would be different across the world so we can safely say that bitcoin is secure at the moment but might get complicated if some governments decide to put a tax on it.

It would be more interesting to see how they are going to collect this tax once they decide to levy it. It is not so much about your responsibility of paying it (which is expected) as how much money they will be able to actually raise through this tax. My point is that, I don't see any reason why a government would want to impose such a tax if it couldn't at the same time tract down compulsive tax evaders, given that their number will be quite close to 100% with any degree of certainty...

Rephrasing Napoleon, one should never tax what one lacks the power to collect

Well to be honest, crypto currency is a kind of technology which can theoretically destroy the domestic as well as international economies (though I don’t see such possibility in next 50 years for one and more reasons) so governments cannot bear the risk on the other hand it’s true that no one can trace movement of bitcoin with identity so it’s near to impossible for governments to levy taxes on it and who knows governments might be finding a solution for this.

This is unlikely to happen at all

Even if we assume that Bitcoin becomes a universal currency accepted everywhere and all fiats disappear (a fantastic scenario but still), governments could easily tax miners. Obviously, miners have physical presence, I mean, they have mining equipment located in some place, and today it is big mining farms in most cases at that. So governments could just tax every bitcoin mined, or every transaction confirmed after all bitcoins are mined

[X-ray]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

bitcoin may later be used as currency just like the dollar. but on the other hand my confusion when the future becomes the currency bitcoin. who is the creator of the country?. such as the dollar. were created in as

i think you're reffering the problem about who's the creator of bitcoin whilst dollar was made by US. the answer is satoshi nakamoto as the inventor of bitcoin. bitcoin was aimed to be global currency nor the main currency of specific state. and the creator may be wrote as satoshi nakamoto and not country

[Mastsetad]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.

[Antoshka]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.

I also use Bitcoin for investment. And even though the legal status cryptocurrency in my country is not defined, I think, that Bitcoin - a property. I can use this property as well as other values

[Questat]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

People mostly use bitcoin as a currency or maybe some of them use it as an investment as well and i feel if you invest into something that would be called your property, so basically it is currency and property both, currency in a sense that it can be used as money and property in the sense that it is also an investment asset.

I also use Bitcoin for investment. And even though the legal status cryptocurrency in my country is not defined, I think, that Bitcoin - a property. I can use this property as well as other values

In my country, it is a property.

[markyminer]

i would like to view bitcoin as currency, perhaps as crypto currency in internet world as other payment and connected with fiat in real world and not as property. because property for me is like something that visible to be seen and feel with hand. and for this reason, the bitcoin can act like money in the economic global.

i think it is demand of the new generation, they are looking for such an currency that may be more convenience for them to be use on internet for buying and selling, and i think bitcoin is the best option with them and most of the online lovers already using it.