Is Bitcoin Really A Currency or An Asset?

[valucash]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

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[BillyBobZorton]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

It's both. The fact that people like to hold it more than spend it doesn't negate it's currency-like features.

People can buy stuff with Bitcoin, so how it cannot be a currency?

It is also an excellent gold alternative that just keeps outperforming everything else, therefore also an exceptional asset.

Bitcoin may not be feasible as a fiat replacement right now due the fees and confirmation times not being ideal for OTC purchases, but it can be. I can see more and more shops accepting BTC once we have lightning networks for instant cheap transactions, that could replace the fiat part, while keeping the blocksize small so long term holding in a decentralized network is still possible, keeping the asset/gold-like features too intact.
This is the best outcome for Bitcoin, which is why segwit2x or any other hardfork must be stopped.

[Sullivan456]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

It is both a currency and an asset that generates a lot of profits for you.

[mobnepal]

I treat bitcoin as both currency and an asset but yes it is true that many people consider bitcoin as profitable investment opportunity with moderate risk of loss.

Looking at trading chart for bitcoin, anyone can notice how much profitable it is to just buy and hold bitcoin rather than spending in daily basis.

[Asyifiah]

both are true. bitcoin according to my point of view it is digital gold. the price can soar because of the limited amount.
I currently prefer to hold my bitcoin for long term. I believe can make the future .

[BrewMaster]

the correct answer is that bitcoin is whatever you want it to be

if you want bitcoin as an asset you can see it as an asset and hold your money in it safe and sound for long term and also make profit while doing it. a huge profit i should add.

if you want bitcoin as a currency then you can see it as a currency and use it easily with the sped of light (a couple of seconds to send and receive and 10 minutes on average for confirmation) and in the safest manner possible to this day and on top of it all you can use bitcoin keeping your privacy.

[aoluain]

I think its currently being used as both an currency and as an asset
but I have read here that it is becoming more and more used as a store
of wealth which was/is the territory of Gold and other precious metals

[bitbunnny]

That probably depends on each individual, there is no unique rule, unless in countries where Bitcoin is fully regulated as one of these things. For me it's primarily the currency because I use it that way, I pay with Bitcoins for different goods and services. But many people consider Bitcoin as an asset and invest in it on long term basis.

[Polonium]

People treat bitcoin more of an asset than currency. Bitcoin is currency with the basic fact that we can buy or sell goods using it. It is widely accepted around the world as a medium for payment, But until recently, people are buying bitcoin and holding and waiting for its value to increase. The reason is that in recent years, bitcoin outperformed the stock market and other forms of investment, for an investor it is one of the hottest asset in the market today.

[Sanugarid]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Well maybe it's a matter of both asset and currency. Bitcoin doesn't have a physical market value but still, it can be used as a payment in countries where cyrptocurrency are legal. Also an asset because it is owned by its users and can be kept for a long period of time with its value increasing as years are passing by. I think it would be better if it will be explained at this way since it will depend on its users if they'll consider it as an asset or a currency.

[CraigWrightBTC]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

Basically bitcoins be made for payment method on the internet (currency) but the bitcoins is not good for payment method because of the fees transaction especially for small amount of transaction, so bitcoins is more better considered as digital asset than currency and not all of peoples accept bitcoins for payment method just couples peoples who accept bitcoins for payment method.

[crismass1225]

in my opinion bitcoin is both Currency and Asset.
Currency- you can buy stuff and paybills using bitcoin so it is considered as a currency
Asset- as it increase it value over time when you just hold it up. Gold-like features.

so in this case you can treat bitcoin as your asset or currency depends on how you spend it and see it. but most people right now they treat bitcoin as an asset as people are buying bitcoin and holding it then waiting the price to increase which most investor see it a one good way to invest.

[eternalgloom]

Both are true, but if you look at the current situation, it seems like its use as a currency has perhaps seen better days.
Especially for smaller transactions, it's kinda silly to pay 2 or 3 dollar fees. Also the volatility in general aren't great for Bitcoin's day to day use as a currency.

[kotajikikox]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

saving or holding of bitcoin thats asset for the future, bitcoin is new edge of currency as decentralized cryptocurrency using internet connection, btc currency control by the new technology as currency and have potential to become most popular currency all over the world.

[rezurect]

It is both but if we look at the transaction speeds at the moment, they aren't really suitable for a currency.
Not to mention the transaction fee's..right now.

I think btc is used as an investment vehicle too much at the moment for it to be a real currency,,,even though it can act like it.
Years ago when everyone was handing out BTC, then it felt more like a currency then it does now.

[deddod]

Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?

I am the person who thinks that Bitcoin is an asset because the price movement is increasing rapidly.
maybe what is meant by "bitcoin replace fiat" is people more interested to make money from bitcoin not with fiat anymore.

[SUDARMONO]

I think it's possible that the use of money is for transactional tools, you can see for yourself that bitcoin can be for transactions in store stores that provide payment with bitcoin, and more we encounter in the online store, the crowd hold bitcoin because bitcoin is used as an asset a very profitable investment because the price continues to rise like gold and bitcoin even more practical than gold, because its properties can be taken anywhere as long as there are devices and internet network, do not have to bother to take and save like gold, that's why many people which uses bitcoin as an investment.

[notyours]

These can be called currencies because we buy food and others. It can also be assets such as gold and houses, land. and so on we can handle it and sell it at high value.

Now the BTC is assets for me because I am waiting for its highest price next year and replacing fiat moneys. To make my parents home

[Beerwizzard]

It is designed to be a currency and asset like gold at the same time. But as we see we can hardly buy something using bitcoin. Now it is something like a "geek currency" and used by most part of the community as an asset for investments or speculations.

[evilgreed]

the correct answer is that bitcoin is whatever you want it to be

if you want bitcoin as an asset you can see it as an asset and hold your money in it safe and sound for long term and also make profit while doing it. a huge profit i should add.

if you want bitcoin as a currency then you can see it as a currency and use it easily with the sped of light (a couple of seconds to send and receive and 10 minutes on average for confirmation) and in the safest manner possible to this day and on top of it all you can use bitcoin keeping your privacy.

          Yeah that was totally right! Only on how you see it and in your own point of view matters, although bitcoin can be considered both, lets just say they are both it is really a currency, at the same time also it is an asset or an investment to begin with. The question is that how you differentiate it? Obviously its your choice to made if what is your approach and how are you going to use it, others prefer it as investment while the other used it as their payment currency for what they bought.