Is bitcoin an asset or a currency?

[StevenRA]

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.cnbc.com/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

[Emoclaw]

It doesn't matter what people treat Bitcoin as, what academics think, and what needs to happen to be treated in a certain way.
This is the whitepaper:
Bitcoin: A Peer-to-Peer Electronic Cash System
https://bitcoin.org/bitcoin.pdf

There's nothing else that needs to be said. This is irrefutable evidence that Bitcoin is a currency.
We don't need NYU's 'dean of valuation' to say that it is, we already know.

[MOTHIT]

What I Understand is In long term bitcoin be consider as asset because the rate which appreciating is very positive so in near future it will be very big asset for those who holding Bitcoin. There is no doubt Bitcoin is currency (cryptocurrency) the thing is we are started now to use is in our day to day life this usage will sure increase very near future that means it is currency only.

[penig]

It doesn't matter what people treat Bitcoin as, what academics think, and what needs to happen to be treated in a certain way.
This is the whitepaper:
Bitcoin: A Peer-to-Peer Electronic Cash System
https://bitcoin.org/bitcoin.pdf

There's nothing else that needs to be said. This is irrefutable evidence that Bitcoin is a currency.
We don't need NYU's 'dean of valuation' to say that it is, we already know.

The objectives of bitcoin went sideways long ago.  Would you say silver is a currency?  It was once, but not today, its an asset.  Just because bitcoin was intended as cash/currency system that does not mean it is today.  Or put it another way, would you use bitcoin to pay for your takeaway, fix the car or weekly shopping, when it could be worth 10-20% more by the end of the week, double by the end of the year?  Likewise would you as a vendor accept and hold bitcoin when it could be worth 10-20% less by the end of the week, half the end of the year? 

I'm unclear how the cited professor defines some of the concepts, because I can price and trade gold or silver, and I can invest in $ or £ by holding on interest bearing deposit (not that i'd get much  ).  So seem this is a very thin, semantic argument made for publicity.

[nerijoyfy]

As far as I know, bitcoin is now considered as an asset and a payment method in some country. It's a very long way for bitcoin to be a currency.

[thinkdifferent]

As far as I know, bitcoin is now considered as an asset and a payment method in some country. It's a very long way for bitcoin to be a currency.

For me, I considered as an investment or asset, not a currency.

[AverageGlabella]

Assets generate money Bitcoin doesn't generate an income passively you need to trade it in. Bitcoin isn't used for anything else like a property either. SO no I don't believe it's an asset and is strictly a currency.

[barabut]

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.cnbc.com/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

In our usage, a "cryptocurrency" means the native currency of a blockchain which is open and publicly accessible and derives its value from its status as a new type of money that anyone in the world can receive, send, and earn through participation in the blockchain. Bitcoin and Ether are examples. Permissioned blockchains, don't enable cryptocurrencies under this definition. An "asset" is a token which is issued onto a blockchain, and generally represents something which does not derive its value directly from the chain.

[QHoster.]

I think that is a currency since you can use that for payments for various services. For traders I believe even USD or EURO is believed to be asset.

[NeuroticFish]

Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.

https://www.cnbc.com/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html

It can be both. And it is both of them.
In countries where the inflation is big, or just the local coin weak, many just hold USD or EUR in the same way you'd hold assets. And clearly, USD and EUR are currencies.
Same thing happens now with Bitcoin. Just the people from countries with strong currencies are not familiar with this concept.

[Lipe490]

Since some people have stock of bitcoin and keep it stored, we can call that asset because they do not trade it and treat it like part of its patrimony. We see everyday people in crypto world becoming
millionaires because they have like 1000 Bitcoins kept and I say they're crypto millionaires. But in the general bitcoin is a currency.

[Maveth13]

Bitcoin was intended to be a currency, but right now, it is in fact being treated as an asset way more than a currency. Sure there are people out there who are actually buying stuff using bitcoins, but mostly, people are just investing in it so they can trade or hold until it increases in price. It's not a bad thing, and it can't be helped either since this is the trend that bitcoin grew upon.

[v_Harley]

Temporarily considered to be an investment, the value of the embodiment is not very obvious.
 

[krun4]

I think that it can go with both! Since even currencies are assets that are fast reliable and usable

[Gaaara]

Same thing is being asked over and over again. It's both okay, don't need to argue, bitcoin is both currency and asset can that make sense?

Bitcoin is more than asset, and bitcoin is more than currency then its both.

[panganib999]

Since some people have stock of bitcoin and keep it stored, we can call that asset because they do not trade it and treat it like part of its patrimony. We see everyday people in crypto world becoming
millionaires because they have like 1000 Bitcoins kept and I say they're crypto millionaires. But in the general bitcoin is a currency.

For me i consider bitcoin both an asset and a currency. Well i know that bitcoin is really intended to be a currency, well it is really a currency yes, because it can be used to buy things or it can used like a real money. But I consider it as an asset if you have some and if you have some stored in whatever wallet you have.

[inv_ker]

It doesn't matter what people treat Bitcoin as, what academics think, and what needs to happen to be treated in a certain way.
This is the whitepaper:
Bitcoin: A Peer-to-Peer Electronic Cash System
https://bitcoin.org/bitcoin.pdf

There's nothing else that needs to be said. This is irrefutable evidence that Bitcoin is a currency.
We don't need NYU's 'dean of valuation' to say that it is, we already know.

The objectives of bitcoin went sideways long ago.  Would you say silver is a currency?  It was once, but not today, its an asset.  Just because bitcoin was intended as cash/currency system that does not mean it is today.  Or put it another way, would you use bitcoin to pay for your takeaway, fix the car or weekly shopping, when it could be worth 10-20% more by the end of the week, double by the end of the year?  Likewise would you as a vendor accept and hold bitcoin when it could be worth 10-20% less by the end of the week, half the end of the year? 

I'm unclear how the cited professor defines some of the concepts, because I can price and trade gold or silver, and I can invest in $ or £ by holding on interest bearing deposit (not that i'd get much  ).  So seem this is a very thin, semantic argument made for publicity.

Bitcoin is a currency. Why? Nowadays Bitcoin use as a money to paid different kind of bills such as electric and water bills or load to text someone or call. Usually Bitcoin can easily access by internet. Bitcoin may use as paid for shopping online or way to transfer money to someone. Bitcoin also can convert to different kind of currency all over the world.

[mobnepal]

Bitcoin is both asset and currency but it is true that bitcoin is still not a legal currency in any part of the world. Also In some of the countries where bitcoin have got legal status as only asset and not as currency.

But many people are also using bitcoin just as currency to pay for their daily expenses wherever they will find merchants accepting bitcoin payments.

[CarnagexD]

I think that it can go with both! Since even currencies are assets that are fast reliable and usable

I can consider bitcoin both a currency and an asset. When you convert assets value into money it becomes a currency so that bitcoin is indeed an asset ofcourse to anyone who has them and stores them. And it is a currency because it can be use in such transactions as well as where to real money is used. That is why i consider bitcoin to be both an asset and a currency.

[yamortsac]

Well for me bitcoin is a currency because it can be used as mode of payment and many other transactions and when you invest in bitcoin you will earn more profit in the future that makes bitcoin an asset.