Currency v Property

[JariKriting]

property is good investment and above is compare fiat money , real curency
because property every year value always incraese in price, and you can get return with you have property, you property can loan another person
real curency every year value always down because inflation

[1715502851]

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[TastyChillySauce00]

property is good investment and above is compare fiat money , real curency
because property every year value always incraese in price, and you can get return with you have property, you property can loan another person
real curency every year value always down because inflation

You must know the differences between investing on fiat and property. investing on fiat are mostly for short term while investing on property may take a long time to get pretty decent profit out of it. And when investing on the property you must already prepare to fulfil your monthly needs and for the urgent situation while in fiat you can just easily withdraw it when you need it

[machinek20]

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

[Dudeperfect]

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.

[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

[deadsilent]

I really dont know and im so confused. How government treat bitcoin. Is it currency? Is it property? But for me its both currency and property. Currency because its like money that anyone can accept and generaly use(ofcourse except countries that banned bitcoin). And property because you can posses and keep it anytime you want. This things doesnt matter to me. As long as theyre not prohibiting us to use bitcoin, im okay with that.

[Sponsoredby15]

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? 

Are you curious in currency versus proterty in States because of the debates happen well it's really interesting topic and if you are going to trade or planing to invest your money into currencies then choose altcoin and also bitcoin this is the best practices to earn bitcoin and does not mean you already bitcoin you will always make profit.

[amacar2]

For me its both, buying bitcoin constantly and storing them as property and doing several payments or paying for hosting, topping up mobile, buying domain, scripts with bitcoin just like any other currency.

[Mastsetad]

property is good investment and above is compare fiat money , real curency
because property every year value always incraese in price, and you can get return with you have property, you property can loan another person
real curency every year value always down because inflation

You should read the OP before posting your reply, don't just see the title as sometimes it can give you another idea but what is asked in the OP can be different from that. OP is asking if do some people take bitcoin as property or all take it as currency?

[tabas]

For me its both, buying bitcoin constantly and storing them as property and doing several payments or paying for hosting, topping up mobile, buying domain, scripts with bitcoin just like any other currency.

I prefer doing both as balance activity either. Buying bitcoin and treating it as my personal asset or property will make you feel better that you are owning something worth and valuable. And that's good also that we may enjoy the essence of bitcoin for being a currency for transacting online and conveniently just like the usual way you are buying something with fiat.

[freedomgo]

For me its both, buying bitcoin constantly and storing them as property and doing several payments or paying for hosting, topping up mobile, buying domain, scripts with bitcoin just like any other currency.

I prefer doing both as balance activity either. Buying bitcoin and treating it as my personal asset or property will make you feel better that you are owning something worth and valuable. And that's good also that we may enjoy the essence of bitcoin for being a currency for transacting online and conveniently just like the usual way you are buying something with fiat.

storing like a property is like storing like an asset. An asset that will grow it's value in the future and that is bitcoin.

[dEjAvU97]

For me its both, buying bitcoin constantly and storing them as property and doing several payments or paying for hosting, topping up mobile, buying domain, scripts with bitcoin just like any other currency.

I prefer doing both as balance activity either. Buying bitcoin and treating it as my personal asset or property will make you feel better that you are owning something worth and valuable. And that's good also that we may enjoy the essence of bitcoin for being a currency for transacting online and conveniently just like the usual way you are buying something with fiat.

storing like a property is like storing like an asset. An asset that will grow it's value in the future and that is bitcoin.

I suggest don't just save our money to bitcoin, though the ascension is not as large as the bitcoin. The best way is to choose both. We never know what happens in the future, property like house, land, apartment already proven good.

[raven7886]

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

To me bitcoin is providing both the facilities, you can use it as currency as you can do online shopping using bitcoin on other hand  you can also use bitcoin as property, as if you hold bitcoin and the price of bitcoin goes high then it can give you a good profit so bitcoin is really a good currency as well as property.

[izanagi narukami]

At my place , property are better option for investation since my currency always beaten by US$ badly
So if I have my own house for example, I will keep invest on it for next 10 year because the value usually increase 500% !

[X-ray]

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

To me bitcoin is providing both the facilities, you can use it as currency as you can do online shopping using bitcoin on other hand  you can also use bitcoin as property, as if you hold bitcoin and the price of bitcoin goes high then it can give you a good profit so bitcoin is really a good currency as well as property.

not really. properties values are rarely falling whilst bitcoin's price could falling so often or too volatile. if you keep bitcoin as a property for long term then  you will missed so many opportunities to take advantage of the volatility. with the real properties you just need to wait and the value will be rising but need a long time

[deisik]

I really dont know and im so confused. How government treat bitcoin. Is it currency? Is it property? But for me its both currency and property. Currency because its like money that anyone can accept and generaly use(ofcourse except countries that banned bitcoin). And property because you can posses and keep it anytime you want. This things doesnt matter to me. As long as theyre not prohibiting us to use bitcoin, im okay with that

Since currency can be owned, it is someone's property legally

The difference is that property is usually taxed (a property tax) while currency itself is not taxable overall. There were efforts which could be construed as directed at taxing the money you own (for example, free money), but as far as I know, this idea didn't catch on anywhere. Really, why would you have to pay a tax if you decided to save some funds to buy, say, a house? The bottom line is that money is not taxable, but property is, so if Bitcoin is to be considered as property, it should be taxed accordingly

[jaysabi]

Bitcoin as of now feels more like property than currency.

It is sort of an investment that you just sit on and then cash out when you want to.

Not as much purchasing power with Bitcoin on buying goods.

Well one reason might be the volatility. In order for people to take bitcoin seriously as a currency, it needs to have price stability. It's never been stable in its history, so it's failing a major requirement of viable currencies. Further, the IRS has classified it as property. So at least they share your assessment that it feels more like property than currency.

[jaysabi]

I really dont know and im so confused. How government treat bitcoin. Is it currency? Is it property? But for me its both currency and property. Currency because its like money that anyone can accept and generaly use(ofcourse except countries that banned bitcoin). And property because you can posses and keep it anytime you want. This things doesnt matter to me. As long as theyre not prohibiting us to use bitcoin, im okay with that

Since currency can be owned, it is someone's property legally

The difference is that property is usually taxed (a property tax) while currency itself is not taxable overall. There were efforts which could be construed as directed at taxing the money you own (for example, free money), but as far as I know, this idea didn't catch on anywhere. Really, why would you have to pay a tax if you decided to save some funds to buy, say, a house? The bottom line is that money is not taxable, but property is, so if Bitcoin is to be considered as property, it should be taxed accordingly

In the US, currency trades are taxable. If you convert USD into another currency and later convert it back and realize a gain, you must pay taxes on the gain. It's the same for how bitcoin is treated as property. If you acquire bitcoin (not through buying it), you have to pay a property tax on it. If you buy it and sell it and realize a gain, you have to pay tax on the gain.

[Dassi]

Bitcoin serves more as a property than a currency because of its price fluctuations.
For it to serve as a currency, its price needs to be more stable.

[Dudeperfect]

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.