Is bitcoin an asset or a currency?

[Sum24]

Bitcoin is an asset because you cannot use bitcoin as a currency because the network of bitcoin is very crowded and because of that, the speed of transactions are very slow and the fees are also high which is not a good thing to know. So bitcoin is just an asset or investment and not a currency.

It’s actually both you can use it for anything if you want use it for your daily expanse so you can because it work same like paper money such as you can buy food, clothes and paying you bills and also it work for online shopping and it’s also an asset if you keep bitcoin save for future it can also help you after some time so bitcoin is full of good advantage’s and it can help you in any shape we need to work hard here and as a result we can get good result.

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[bryant.coleman]

IMO, the answer is quite simple. Just ask those who made investment in Bitcoins this year. 99% of them will say that the want the Bitcoin prices to go up, so that they can profit from it. Then there will be the remaining 1%, who made the investment due to ideological reasons. They may spend a part of their coins. The question is whether you want to trust this 99% or the remaining 1%.

[Janine012]

Well, for me it is an asset and a currency. It really depends on how one's perceive thing and how they use their bitcoins. Others, sees it as a form of asset and investment as its value continues to rapidly grow and  while some use this as to purchase goods and send money all throughout the world. So, for me as i used  both for bitcoins. I see it as an asset and as a currency.

[Andalusy]

I would agree if bitcoin is treated as an asset, because for now it will be difficult to ascertain the exact price of bitcoin, the price change happens every second and it is very fast, it will take a lot of parties of country and very big funds to stabilize bitcoin prices around the world. And if that happens then possibility in this world has only one currency, it call bitcoin currency.

[Digitalbitcoin]

Well, for me it is an asset and a currency. It really depends on how one's perceive thing and how they use their bitcoins. Others, sees it as a form of asset and investment as its value continues to rapidly grow and  while some use this as to purchase goods and send money all throughout the world. So, for me as i used  both for bitcoins. I see it as an asset and as a currency.

Well perspective, but views are quite different as I am strictly think it as commodity. As it have strong, secure and open source back up of Proof of Work.

The thing which you can buy anytime at market rate and sell them at higher rate to get own profit.

But time matters as how much time user can hold it, it will give more returns to him by supporting Bitcoins by HODL, but if user sell them and get certain amount in  fiat, he cannot get it back same or equivalent amount BTC with that amount in fiat, as price is increasing exponentially.

So its completely up to user how they accept bitcoins.

[TheIO]

Bitcoin is (or should be) both! No need to exclude anything

[Utanjaran]

For me, bitcoin is valuable asset that has tremendous growth this year. Popular and can i make as alternative to send money to my brother who lived in europe.

[monirmostafiz]

Yes, bitcoin is a currency.now a days bitcoin use some of event in our regular life.my openion is bitcoin is an asset for my future life.i hope bitcoin change my life style as soon as posible

[bitllionaire]

Bitcoin is both a currency and an asset because the classification of bitcoin falls on both categories a bitcoin is a currency because it is use as a mode of payment for something acquired also bitcoin is an asset because cash or fiat is an ownership called asset as holding bitcoin as an investment will even classified it as an long term investment or asset.

You're right, bitcoin is in both categories. An asset is anything that an invidual can use and that has value and probably bitcoin falls in its definition so I think it can be considered as an asset. While currency is a form of money that can be used in transactions by many and bitcoin also falls in this category. So I guess we dont have an argument whether bitcoin is a form of currency or even an asset. As long as we have bitcoin. And it also depends on how you would treat bitcoin by yourself.

Yes we can consider bitcoin both as assets as well as currency. In current time most of the people are using bitcoin as assets as they know that bitcoin price has high potential and its price will increase too much in future to give me a good profit, but in mean time people are also using bitcoin as currency for buying goods and specially they are using bitcoin for online purposes. In future we can expect the use of bitcoin as online currency will increase more.

[TheGreatUnknown]

Bitcoin can be define as both asset and currency there is no which is which. Bitcoin as an asset, asset means something that you owns or something that is your property and we all have bitcoin on our own. Bitcoin as a currency, currency in meaning is a system of money general use in a particular country. Bitcoin is a digital currency and it only exist electronically

[derigop]

For me bitcoin is an asset and a currency in the same time. Why? Because bitcoin can help you to gain profit and the same time you use your bitcoin in online payments.

[parassinghal]

It acts as both. Because mainly it is a digital currency like fiat currency and you can buy anything in exchange of bitcoin and it also acts as asset because its price fluctuation.

[imapessimist]

It's asset but only if used to buy something or exchanged for cash.  The same as something is only an asset if somebody else wants it.  If nobody wants it isn't an asset.   It's not a currency as it isn't widely accepted enough.   

[ardyology]

Well, here in my country, I look at it more as an asset kinda like stocks. It helps me grow my portfolio and I have never used bitcoin as means of payment here. I always convert bitcoin to fiat whenever I need to pay for some products or services. But I would also look forward for bitcoin to be a currency here in my country since the bank system is very limited and hindered most of my emergency transactions.

[bug.lady]

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.

moreover, while gold and silver lost its function as a currency, it retains its function as an asset because it has a history of thousands of yars of being there around people, and it has some other uses, mainly it is used for jewelry craftmanship (and in electronics).

The same cannot be said of bitcoin. It has no other uses and no history. So if bitcoin fails to be a currency, it will shortly stop being an asset, too.

So while I agree that objectives of bitcoin went sideways long ago, I think we can only hope for that they come back. Lightning Network gives such hopes for instance.

[BtcBling]

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

Ok, I will start that Bitcoin came from a Block-Chain Technology. The Block-Chain Technology created Bitcoin a Cryptocurrency, so definitely Bitcoin is a currency but an electronic currency. Based on our accounting lesson that I will apply here, Bitcoin can be an asset, liability, income, capital, and or expenses. It's your choice on how you treat or used Bitcoin based on ALICE principle of accounting.

[AlexanderAnthony]

Bitcoin can also be an asset and also a currency so there no confusion about which is which because when we define the asset it means that it is something that is own by you or something that you owns. We all own a bitcoin when we start earning in here or when we buy a bitcoin and keep it. Bitcoin as a currency, currency by means is a system of money generally in use in a particular country or place and we all have different currency. Bitcoin is a cryptocurrency means a digital currency and it only exist electronically.

[xx-man]

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.

I think bitcoin is an effort, if we have bitcoin means we have a business, whose name there must be a result. That result is called an asset, if the currency is a means of payment of buying and selling.

[Risktaker31]

In my own opinion bitcoin is an asset that you can gain profits or use it to pay your bills, buy things and etc.

[NEYolks]

Right now I view bitcoin as an asset. It's not really spendable where I live currently so it's hard to use it as a currency. My girlfriend and I pay each other back using bitcoin though. I think in the future either bitcoin or another faster/lower fee altcoin will be used as currency.