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romeitaly
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October 23, 2017, 10:17:03 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
There are similar threads that answers this question like this: https://bitcointalk.org/index.php?topic=2099175.0In there you can check more information if bitcoin is an asset or currency. As for me, from what I have read in different things about bitcoin, it is a currency like what we call cryptocurrencies. You can do anything with it: trade, mine, invest, and you can also earn some. We can say that it is a currency in the internet where people around the world can use it. |
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MordorMurphy
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October 23, 2017, 10:17:55 PM |
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Because of bitcoin some books will be written again
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cybersofts
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October 23, 2017, 10:48:07 PM |
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Originally bitcoin was supposed to be a currency that will change the way we use money online, a faster way to make transactions and a safe system that will prevent hacking bank accounts, we all were ok with this idea, but since the bitcoin had a limited source and since people were mining it like crazy, it got harder to mine and thus required more hardware and more power which made its price increase, all of this lead to people comparing it to gold collecting it and saving it, and with this bitcoin has shifted from being just a cryptocurrency to becoming a revolutionary assets that made everyone rush into investing in it, and by this the world is stating to relive the 1849 gold rush but in the digital form.
Bitcoin is both digital currency and an asset. Bitcoin was originally invented as a peer to peer electronic currency. Due to the high demand of bitcoin, the value of bitcoin started growing in an exponential rate and before you know people everywhere in the world started buying bitcoins as an asset to sell later for profits when the value increases. Bitcoin is getting more popular everyday because people are buying bitcoins and selling for profits a very good one, indeed! |
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Spaffin
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October 24, 2017, 10:08:00 PM |
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In any case, bitcoin can be considered a financial asset. It has all the signs of a financial asset. But whether it is simultaneously a currency, there is a problem. To the existing concept of currency, crypto currency is not suitable. However, when the impact of the crypto currency on the world economy will increase even more, it is possible that this concept will be changed and then the crypto currency will take a worthy rightful place among the recognized currencies of the world.
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Lomberjack
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October 24, 2017, 10:19:38 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
Bitcoin usage can vary from where it was used so it can be typically coined as asset or a currency. It is an asset and treated to be an asset as you say so because it was used for investment and trading to come up on having large profit to be gained on investing into bitcoin which is the main aim of every user upon using bitcoin to trade and invest. It can be a currency in a sense that it is the virtual money which is the innovation of the fiat or real money which is easy to use on availing online products and services which is also easy to be access since you do not have to encode number codes that needs credit or ATM card to avail because you can directly pay it in terms of using virtual money instead of natural money. |
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Greenrace
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October 24, 2017, 11:06:57 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
bitcoin as an asset is not a bad thing in fact it is the added value of bitcoin which we have considered only as a currency. we become more enthusiastic to collect bitcoin because of its more usefulness |
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zarintasnim
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October 24, 2017, 11:25:46 PM |
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I think Bitcoin is asset for future. Because bitcoin price is increasing day by day you can compare in recent past value of bitcoin. I think its asset rather than currency.
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Zero.X
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October 24, 2017, 11:37:22 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
It's simply both. Bitcoin is attractive as an asset to hold because of it's scarce nature. Bitcoin is also attractive as a currency because it's borderless, permissionless, and pretty fast and cheap (except when Roger Ver/Bitmain are spamming it). So for some use cases like buying a VPN, bitcoin is the best currency. I agree that it's most likely both. An asset is something consider to have some substantial value, while a currency is a medium of exchange for goods and services. I think it falls into both categories. |
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crustycrab666
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terra-credit.com
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October 24, 2017, 11:37:48 PM |
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well, this question is too often asked. and my answer remains the same. I use bitcoin as an asset and currency. although currently not entirely as currency, I am sure that one day bitcoin will be accepted by all people and countries, so it can be used for transactions. if as an asset, I think everyone who uses bitcoin must already feel it. some of them would save it for savings and sell it at high prices.
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crazycatwoman03
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October 24, 2017, 11:55:08 PM |
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Originally bitcoin was supposed to be a currency that will change the way we use money online, a faster way to make transactions and a safe system that will prevent hacking bank accounts, we all were ok with this idea, but since the bitcoin had a limited source and since people were mining it like crazy, it got harder to mine and thus required more hardware and more power which made its price increase, all of this lead to people comparing it to gold collecting it and saving it, and with this bitcoin has shifted from being just a cryptocurrency to becoming a revolutionary assets that made everyone rush into investing in it, and by this the world is stating to relive the 1849 gold rush but in the digital form.
Bitcoin is both digital currency and an asset. Bitcoin was originally invented as a peer to peer electronic currency. Due to the high demand of bitcoin, the value of bitcoin started growing in an exponential rate and before you know people everywhere in the world started buying bitcoins as an asset to sell later for profits when the value increases. Bitcoin is getting more popular everyday because people are buying bitcoins and selling for profits a very good one, indeed! Right, bitcoin can be both an asset and a currency. Even if many people or the government do not consider it as a regular currency still bitcoin is useful as a digital currency. Bitcoin will be more useful in the future and I think that if many people decided to invest in bitcoin, it will be bigger surpassing its value as a crypto and as an asset used for investments. |
INVALID BBCODE: close of unopened tag in table (1)
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Pakar11220
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October 25, 2017, 04:08:27 PM |
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it may be both, and you know currency will also include in assets, currency is a medium of exchange, asset will an item of property owned by a person or company and by currency you will buy everything.
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beatleap
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October 25, 2017, 04:09:35 PM |
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Bitcoin is an asset which I think is much more valuable than anything that I own.
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farhansadik
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October 25, 2017, 08:01:47 PM |
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Bitcoin is a cryptocurrency. It is used by a lot of people. The user of bitcoin is increasing at a high rate. It's being using so widely. Now we can buy any service with bitcoin. We can get or give online payment through bitcoin. It's been used at too much way that it's seemed like it's a asset. But it's not a good thing. Because it will cause various problem. We should treat bitcoin just as a crypto coin, nothing more than it.
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SupersonicCrypto
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October 25, 2017, 08:11:14 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
Ohh! my friend, this topic is more sensitive than it seems on the surface. The community is divided on this.. and this is one of the causes of the Segwit2x debate.. It was created with the use case of being able to retain the value of an investment to tackle deflation that currently affects the fiat. It currently serves as an asset to most but there is a growing demand for Bitcoin to be used as an active currency. But at present if that were true if would be weird if the price of a gallon of milk fluctuates like every day in line with the market value of BTC even weirder if the milk cost you different price everyday. Owing to its limited supply I thing it would better serve as an asset. and would benefit the owners more.. I'm with the CORE team on this one. |
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mantoo1
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New To The Crypto World
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October 25, 2017, 08:20:26 PM |
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As I thought bitcoin is the most valuable currency it can build your assets also u can covert it any time in $ or any other
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gwoplock
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October 25, 2017, 08:23:14 PM |
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I think most of the coin owners view it as an asset and not a currency. I also believe that it is too hard to use currently for it to be a true currency. In the long term BTC will become a currency.
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Odora
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October 25, 2017, 08:48:43 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
for me Bitcoin is a non-currency asset because we can not just wipe out Dollar, Pound Sterling, Euro etc already in a country, and we are currently looking for Bitcoin to exchange currency in our respective country through an exchange site .. |
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tbterryboy
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October 27, 2017, 11:56:53 AM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
Ohh! my friend, this topic is more sensitive than it seems on the surface. The community is divided on this.. and this is one of the causes of the Segwit2x debate.. It was created with the use case of being able to retain the value of an investment to tackle deflation that currently affects the fiat. It currently serves as an asset to most but there is a growing demand for Bitcoin to be used as an active currency. But at present if that were true if would be weird if the price of a gallon of milk fluctuates like every day in line with the market value of BTC even weirder if the milk cost you different price everyday. Owing to its limited supply I thing it would better serve as an asset. and would benefit the owners more.. I'm with the CORE team on this one. In my opinion bitcoin is both as asset and the currency. Because bitcoin is a usable money. People can use their bitcoins anywhere in the world to buy anything they want and can pay in bitcoins. Therefore it is a currency. On the other part bitcoin is also an asset because the investors have made lots of money through bitcoin and their investment is their assets because bitcoin is also a digital coin business. |
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Mazda17
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October 27, 2017, 12:23:34 PM |
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I hear from many sources that btc is used for trading much more than it is for goods and services; doesn't that make it an asset ??
and is that necessarily a bad thing ?? and what can we do about it as a community ??
A good opinion and I like your opinion. It is true of your opinion that many people say that bitcoin is used for trading to be an asset. As bad as any or whatever it depends on the person who uses it because it has become the responsibility of the person. We as bitcoin communities should make improvements if bitcoin reaps problems. |
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EMS-007
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October 27, 2017, 12:56:54 PM |
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This matter remains a debate ever since up to this moment!
In the story of the evolution of money, we have come a long way from barter to cowries, coffee beans to coins, paper currency to plastic currency and the latest one on the line is “Bitcoin”. It is a “decentralised virtual currency” that took its shape after the subprime crisis of USA somewhere in 2008.
Ever since then, it has been awarded a number of hit and trials- being used a currency, in black marketing, round tripping, drug selling, hoarding (virtual gold) and as a ransom; as in case of ransomware attack by “wannacry”.
IMHO, Bitcoin is a “valuable asset” rather than a “means of transaction " Currency" due to its high fees even with very small transactions!
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