Crypto is an Asset or Currency?

[squatz1]

While it was created to be a currency, in its current state and usage form by people Bitcoin is an asset and nothing more then that. The rapid price fluctuation in Bitcoin isn't due to more and more people using it and accepting it. It's from people who want to trade it and make some good money off of it, it's sad to think about but that's the reality of Bitcoin today.

Amazing idea, but it's stuck with people that don't care for this idea at all. They want to make some good money and dash.

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[bigdude]

Crypto exactly is a actor have 2 faces. It is an asset and currency as well.
Once you are holder crypto is asset
once you are trader crypto is currency

[Jaya912]

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?

first i would say cryptocurrency is better as an asset that can be more valuable in next future.
it can not destroy the initial purpose as currency since we can do both of that purpose.

[Rashid555]

Crypto is asset and currency both in the business terminology it will be a liquid form of  asset which can be easily used for cash payments etc it is an asset people can use it by their own willing we can easily use our money for shopping and some other purposes as well. in the modern time people can purchase online games they can easily buy their own needs which is possible through this asset which is bitcoin.  

[EtherATM]

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 see this is very normal, the initial purpose of paper currency help easy to trading product but after it's use to saving, i think crypto currency is same

[AK47-]

Bitcoin was developed for serving both the purposes that is one of currency and the other of asset. But bitcoin largely have became an asset today because of limited supply. Due to which inflation will go to zero and then negative. Hence, price of Bitcoin will increase in accordance to increasing demand. This will make people hoard Bitcoin instead of using it for everyday transactions ultimately killing the Bitcoin's currency use.

[zulkarnaen]

yes bitcoin function is now no longer a means of payment transactions but is a valuable asset that has fantastic value, the rapid progress of bitcoin has been able to instill trust from all parties as well as elements of society to contribute in bitcoin resulting in high demand in bitcoin that impact on rising prices

[UCHCHILD]

Bitcoin is consider as money, which is money consider as an valued asset of ones owner.

[Kelvinid]

yes bitcoin function is now no longer a means of payment transactions but is a valuable asset that has fantastic value, the rapid progress of bitcoin has been able to instill trust from all parties as well as elements of society to contribute in bitcoin resulting in high demand in bitcoin that impact on rising prices

I agree.Bitcoin is not just a digital currency but it is more on an asset that any person would really run into.Especially now that its increasing more of its value,people consider it as a biggest investment that will totally give us security in the future and ensure even the bright future of our family.

[Fulmand]

yes bitcoin function is now no longer a means of payment transactions but is a valuable asset that has fantastic value, the rapid progress of bitcoin has been able to instill trust from all parties as well as elements of society to contribute in bitcoin resulting in high demand in bitcoin that impact on rising prices

I agree.Bitcoin is not just a digital currency but it is more on an asset that any person would really run into.Especially now that its increasing more of its value,people consider it as a biggest investment that will totally give us security in the future and ensure even the bright future of our family.

Well, they are both income generating crypto currency are made to asset worth and currency because asset has a value making it a currency. And currency is bisically has a value and being used as a medium of exchange.

[Allura74]

Crypto exactly is a actor have 2 faces. It is an asset and currency as well.
Once you are holder crypto is asset
once you are trader crypto is currency

Basically crypto refers to an algorithms and schemes or a digital system, therefore cryptocurrency is a digital or virtual currency and yes it is a currency because it has its own market value and lively fluctuating due to its demand and supply and since it has a market value then it is considered as an asset because it is convertible into cash.

[Reid]

Not all of them.
Some is just so good to hold which many are thinking to be valuable in the future.
It is not a bad idea if you think of it. Plus they are also risking it by holding so it is actually a courageous act.
If suddenly it became a shitcoin then what else they will profit for?
Perhaps we should also think about their side. Others are being used as a currency. Litecoin is an example.

[Rohitha]

Money is a measure of value. Currency is a mechanism of exchange of value (or money). When currency is stored to accumulate wealth (money), it represents an asset as well. Crypto currency, like most other currencies, is practically used as both a currency and a value store (asset).

Currency that is prone to inflation is not a good asset as its value reduces over time. In Bitcoin's case, as it has had a history of appreciating value against traditional fiat currencies, it is currently considered a good asset. But this can change in the future.

[ahkiatt]

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.

Exactly this. But I think it is important for investors to note that not all cryptocurrencies are created equal. There are a lot of money grabs going on out there and it is important that everyone does their own research before buying into anything.

[Gozie51]

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?

You are quite right on the aspect of bitcoin being or intended to be a currency (digital indeed) and also now being used as a store of value.

However, I don't quite agree on the aspect or thinking of its new found use and importance (as asset) destroying it , rather it would give the currency more role to play in modern society, thereby overtaking gold which has more-or-less been over used.

Hence, as we know; anything that has being given more role , increases in importance as it will be highly sourced for.

Further to this, if we notice that during the time of fork, bitcoin gains value because users and investors don't release the fraction they hold which means it appreciates more.

Thus, whichever way we look at it from, being used as store of value or asset would not destroy it.

[michellee]

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?

for me, crypto is an asset and a digital currency. I called crypto is an asset because I am holding many coins for a long term investment and I don't want to sell if the price is not increase high. I called crypto is a digital currency because sometimes I used crypto to pay something or to buying something so for me it is like a money in real life. and because crypto is a digital currency, I think for now crypto is only use in internet but in future, crypto can be transform into real life so we can use crypto as payment.

[fredo123]

Cryptocurrency pertains both chatacteristics, when it comes to currency, we can simply used our btc to exchange some sort of goods or products, you may even used bitcoin to shop online at your very convenient time.
As an asset. Some people who also used their btc for future purposes, they usually hold their btc for long period of time because it will generates profit. Since bitcoin is constantly increasing as the time passed by About 50% or exceeding. Its like gold which constantly surge its value time to time.

[Kimliyo0107]

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. 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.

[Kurokonobasuke]

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 ut deoends on the location of a user. If bitcoin and other cryptocurrency is legal to a certain country, Bitcoin will be used as a currency. But if not, it will be more of an asset to be kept for a long period of tine, since the value of Bitcoin is continuously increasing and it will be a good source of profit.

[Two4D]

Right now it is still considered as an asset. Since most jurisdictions describes currency as something that is backed up by a state or is backed up by commodity such as gold or silver. Since bitcoins are decentralized and is not backed up by any commodity then that means it can not be classified as currency. Though I think it is an asset.