Is Bitcoin Really A Currency or An Asset?

[criminalbee]

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?

One of the most amazing characteristics of bitcoin is that it is a combination of currency and at the same an asset. One of the reason why banks and governments are threatened. If they cannot control it, banks will collapse not unless they join the bandwagon. 

[Batmain]

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 think Bitcoin can be labelled as an asset because it holds a very good value in the future, and it is one of the best investments online. Do you see the news in the crypto world where there are throwing of opinions and criticism about this cryptocurrency but in the end it is still going going strong and holds so much value to those people who are open minded in this technology. This cryptocurrency is a piece of science and myth that exceeds any value of any fiat today, so yes it is an asset that can be used also as a currency.

[dylanc]

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?

Maybe it can't be considered as a currency yet today, but probably will be in the future. That's my take anyway.

[liseff3]

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?

Although bitcoin has a very good reputation, bitcoin can not be used as fiat currency, if a large number of bitcoin users treat it as an asset, plus another problem that is the market and some countries that refuse and do not acknowledge the existence of bitcoin.
People store bitcoin, not just for assets alone, but there is another purpose that is profit, this is where they insist on saving it for long period of time (waiting for high price).

[YuginKadoya]

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?

Although bitcoin has a very good reputation, bitcoin can not be used as fiat currency, if a large number of bitcoin users treat it as an asset, plus another problem that is the market and some countries that refuse and do not acknowledge the existence of bitcoin.
People store bitcoin, not just for assets alone, but there is another purpose that is profit, this is where they insist on saving it for long period of time (waiting for high price).

In my opinion bitcoin purpose and identity is circulating between currency and asset I really think you can surely give credit to bitcoin in both ways and on how you are using bitcoin, but I really think this doesn't really matter at all because at the end of the day bitcoin will still be bitcoin and you can use it whatever you want it to be you can surely treat it like a currency or save it as an asset.

[centralbanksequalsbombs]

Its both and cannot be manipulated at all by traditional institutions.

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

Just a reminder to newbies:
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.

Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates.

Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalk.org/index.php?topic=1853019.0

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping

https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/

[GreenBits]

Its a touch of both honestly , but it functions moreso as an asset that it does as a currency. Currencies can denote any accepted medium of exchange, but in the modern day, currency = stable. it would be hard to transact in a currency that fluctuates. bread might cost less one day, gas might cost double. people would establish a secondary currency; a society wouldnt cope with this for too long

there is an expectation of value increase, or at least value retention, with an asset. this is more of bitcoins speed. you can spend it, but for anything that you would buy bitcoin with that isnt another crypto, you would have been better off using fiat




ask the bitcoin pizza guy.

[Yukyzu]

more precisely as an asset, but some people call it a valuable virtual coin. for now because btc has not been acknowledged by the world as a currency equivalent to the currency issued by the government then it is only as an asset that in exchange for the government currency will be more easily accepted anywhere.

[MiBambino]

Its a touch of both honestly , but it functions moreso as an asset that it does as a currency. Currencies can denote any accepted medium of exchange, but in the modern day, currency = stable. it would be hard to transact in a currency that fluctuates. bread might cost less one day, gas might cost double. people would establish a secondary currency; a society wouldnt cope with this for too long

there is an expectation of value increase, or at least value retention, with an asset. this is more of bitcoins speed. you can spend it, but for anything that you would buy bitcoin with that isnt another crypto, you would have been better off using fiat




ask the bitcoin pizza guy.

If I was that guy, I'd kill myself lol

[SirLancelot]

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?

Its obviously both, In terms of its asset comparrison it might be precious metals. In terms of its currency utility it is very useful for large transactions, in particular large or international transactions, but it gets expensive and cumbersome for small everyday transactions.

If one is spending it for the daily works then it is counted in currency on other hand if one is maintain wallet of it and continuously adding bitcoins to it for the future then it is asset and it gives benefits in both ways no matter how anyone use it bitcoin bless everyone miner, trader and investor, so do whatever you want whether you want to spend or want to hold it works for you.

[ramsdaj28]

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. Currency in a sense that you can really use it to buy thing you like, pay your bills, send money to anyone, and more. Actually, I am using bitcoin for a long time, and it's been great so far. I find no hustle using bitcoin. I have also bought stuffs and accessories for my gadgets.

On the other hand, bitcoin is an asset in a sense that it is MONEY in different form. Bitcoin is a cryptoCURRENCY, which means that you can use it as a medium for buying things. And the best thing about owning bitcoins is that you can multiply your money due to its volatility, although the risk of losing is still there.

[jatin729]

Bitcoin can be used as currency as well as asset also.
Some countries are legalize bitcoin and most of shops accept bitcoin as payment that point of view bitcoin is currency.
but if bitcoin is only used for trading purpose than it can treated as asset.

[onrise]

This can be treated as both. Consider you are making payment via btc where it becomes your currency. And say you invested some amount in your cypto for long term. As a result what ever gain you would be getting which will be classified as a long term capital gain which is treated as an asset. But again it will depend upon respective country how they prefer to treat this.

[w5pn73]

Years ago, it was a currency imo. Now it's more of an asset, with the high fee's and slow transactions.

[Tyrantt]

Right now it's more of an asset, if you ask me. Sure it is used as a currency but in 90% it's used as an asster. Just look at how many people are buying and holding overall and will be holding for some longer time.

[Chanock]

Bitcoin is both an asset and currency. Currency in crypto world and used in digital transaction. It is an asset because as long as you hold it it serve an asset and it provide an income and saving to those holding bitcoin.

[EmJay]

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?

For me it's both. It is bothe because sometimes in my country they pay it for their electricity bills, dailly expenses, even payment for water bills, sss, mobile credit . And some they are keeping it or holding it for future purposes or their investment. I Said they, I didn't include my self yey because I am new and I didn't earn yet but i am almost there. And i will do the same when I have bitcoin on mu wallet.

[djselery]

Bitcoin is both, a currency and an asset. It is basically a currency used to buy and sell things online just like fiat currencies, and could being converted into cash anytime, so there is no difference between BTC and any other currency.
But it is also an asset since the price is increasing highly in short time, so you can trade or hold it and earn money.

[Fatunad]

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?

For me it's both. It is bothe because sometimes in my country they pay it for their electricity bills, dailly expenses, even payment for water bills, sss, mobile credit . And some they are keeping it or holding it for future purposes or their investment. I Said they, I didn't include my self yey because I am new and I didn't earn yet but i am almost there. And i will do the same when I have bitcoin on mu wallet.

Its good to know that bitcoin is already adopted into your country which you can able to make use of it on paying up some necessities which is great and i hope this thing would be available into my country soon. Bitcoin can really be treated either both ways.It depends on how people do see on it. Most people will surely see this as a currency but on virtual thing which is actually its purpose though.

[Colt81]

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 think it depend how you use it. You can use your bitcoin as currency in which you use it in different kind of transaction like paying bills and shopping on online market. Some people use it as an asset and they hold it and stock for a long time and I think they will sell it when he price goes up.