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Author Topic: Crypto is an Asset or Currency?  (Read 3070 times)
Tony_Nguyen
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November 19, 2017, 11:44:08 AM
 #1

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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Dreamchaser21
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November 19, 2017, 11:54:00 AM
 #2

Cypto is a currency that you can also consider as a valuable asset since some coins are limited in supply and also high in value like btc. As the price continue to soar higher it is great that you consider your holdings as an asset that you can possibly use in the future. Don't be confuse on that because at the end what important is you make money using that crypto currency.
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November 19, 2017, 12:01:19 PM
 #3

The idea of crypto is to erase borders dividing asset from money and from contract Cheesy
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November 19, 2017, 12:27:11 PM
 #4

in some contexts the terms can be used interchangeably but a crypto-asset is more suitable for tokens that represents an actual asset e.g. real estate, ownership in hardware, etc.
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November 19, 2017, 12:47:02 PM
 #5

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
I believe that crypto is seen as an asset rather than it's intended use, which is to be used as a currency. People buying and holding it to gain profit is a good enough reason to say that bitcoin is an asset. People use it just like how they use gold and other precious metals. The only difference is that cryptos require internet and is easier to transfer when compared to them. Even if that is the case, some people use it like how it is intended to be.
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November 19, 2017, 12:54:56 PM
 #6

The idea of crypto is to erase borders dividing asset from money and from contract Cheesy

Crypto is both a asset like a Gold and currency like a FIAT.
i.e you can use the bitcoin yo inverse your money and use it as an asset and you can use the bitcoin as a currency by selling and buying with the bitcoin as a money transfer.Now amazon accepted bitcoin as a currency.It will be accepted by all in future.

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November 19, 2017, 01:06:20 PM
 #7

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
The main fucntion of Bitcoin or idea of it is a digital currency but it just happened that the market value of Bitcoin is continuously increasing with a high rate making it a good investment or asset which value is growing as time is passing by as well as the profit. So basically and technically, Bitcoin is in between a currency and an asset.

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Nevis
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November 19, 2017, 01:07:34 PM
 #8

They can be classified as an asset or as an currency,bitcoins is made for online stuffs which doesnt aim to be a mainstream payment at all,so for me in that way bitcoins is just an asset,but now bitcoins is being spend and being accepted everywhere so for me now bitcoins is now a currency

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November 19, 2017, 01:12:17 PM
 #9

Crypto-currencies are made to be an asset worth a value making it a currency. Some countries like Japan are taking it as its de facto use, a currency, but in most places it is an asset, thus tax-free, and that is awesome.
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November 19, 2017, 01:20:00 PM
 #10

It is both an asset and a currency, when you say asset it has value and bitcoins and other altcoins have value even for a penny. And when you say currency it is a system use in general as for bitcoin and other altcoins, its has not yet been widely use but still being used by people around the globe for buying things and services. So basically it has value and being used as a medium of exchange.

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lili song
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November 19, 2017, 01:24:09 PM
 #11

Crypto is mean like currency, but have a benefit like asset.
Bitcoin some of country can use for transactions, like amazon, kinerja pay etc. Transactions online more faster.
Bitcoin is great asset for the future.
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November 19, 2017, 01:25:53 PM
 #12

In accounting cash/currency is actually considered an asset.
Bitcoin is an asset in the sense that it has value and a currency as it is a recognised and accepted form of payment. The two aren’t mutually exclusive.
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November 19, 2017, 01:29:53 PM
 #13

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
We can go back to a few years old.
Where crypto like bitcoins are used to perform transactions in darkweb or micro trading transactions, but now situation have been changed. Currently we buy coins of crypto is considered profitable for as an asset, which for investment purposes only.
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November 19, 2017, 01:53:17 PM
 #14

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
Crypto can be used both as a currency and asset. it's better as a currency as you can earn effective profits compared to leaving it as an investment. volatility can mainly influence your decision of using it as a currency or investment.
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November 19, 2017, 01:54:50 PM
 #15

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
Its true that crypto currencies,especially bitcoin was created as a decentralized currency with an aim of providing a P2P platform for sending money without the need of banks.But as its price started to grow,people found it to be a high return giving asset rather than a currency.They just started to accumulate huge nunber of bitcoins as an investment.but still,it is also used as a currency for paying in some online stores.So,we could term it both as a currency and as a digital asset.


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November 19, 2017, 02:02:21 PM
 #16

Exactly, the core principle of Bitcoin is focused on making it a good system that facilitates the transfer of value without any intermediary and borders so it should be used as a currency. However, Bitcoin as a technology is still in the beta phase and hence there are many opportunities for speculative gains and we can call it a by-product of it and I don't see any wrong in en-cashing those opportunities as it is kind of reward system given for contribution in the development of Bitcoin. At a certain point in future, Bitcoin will gain stability and then we won't see speculative market as compared to that of today.

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November 19, 2017, 02:03:14 PM
 #17

all this time, i assume crypto is an asset. because people who use bitcoin or other coins, they use it for trading or investment and expect a big profit. I also do the same thing.

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November 19, 2017, 02:04:35 PM
 #18

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Although Cryptocurrencies are nowadays widely used as assets but I think this is good for its survival.
Several cryptocurrencies provides very good ecosystem to be used as merchant currency. They provide secure and speedy gateway to create, process and deliver orders. But to enthusiast people so they actually turn to cryptocurrencies, cryptos need to be better than fiats in some way. The highly-volatile behavior of cryptos fufill this need. So cryptos are better to have both aspects of currency and asset together than one being dominated by other.

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November 19, 2017, 02:12:45 PM
 #19

It really is whatever you want it to be. Bitcoin can be an asset, a currency or perhaps even both. It has the infastructure to be both and after that it's really up to you how you handle it to get the wanted benefits out out it. Bitcoin is for everyone and for whatever reason they want to use it.
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November 19, 2017, 02:33:31 PM
 #20

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?
I would say cryptos are both asset and currency at the same time. Cryptocurrencies especially Bitcoin, primary concept is to be a decentralized digital currency to be used as payment method for buying goods online without the help of any authorities and banks, cryptocurrencies are also an asset where people can invest and use it for trading on exchanges to make profit from it. But I think investors and regulators view cryptocurrencies more as an assets than actual currencies because the value of cryptocurrencies are highly volatile to be considered as currency.
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