Crypto is an Asset or Currency?

[1Referee]

Who wouldn't think of it as an asset? Bitcoin can make you rich in time. If that's not what assets are for then i don't know. The value of of bitcoin is being seen more of a way to grow money. It's status as a currency would have to take a backseat to that fact

Assets aren't about making people rich, which basically also applies to Bitcoin. Bitcoin however is still newbie in a market with plenty of developed and strong assets. It's the immature market of Bitcoin that makes people earn a decent chunk of profits, but eventually this will change when the market stabilizes with enough institutional capital that will 'tame' Bitcoin, to use their words. People back when the price was still below the $1000 level were already struggling to buy themselves a whole Bitcoin, and now it's far worse with current levels, so how exactly will it make people rich if they buy just 0.1BTC? Bitcoin will definitely push your wealth forward throughout the years, but for the far majority of the people, it by far won't make them rich. Forget about that.

[Lieldoryn]

Cryptocurrency is both. They are both asset and also currency at the same time because with cryptocurrencies we can use them to make a complete purchase online and execute a safe payment system and we can also just hold them and keep them for long term and have some chance to make a lot of money with it.

I do not see any signs of bitcoin currency. You can now make purchases directly with bitcoin. You can not officially change their bitcoins in the Bank. Bitcoin is very similar to traveler's checks. He has value but only under certain conditions. If tomorrow the exchange and the online exchange will stop working we will figure it out.

[lordquanta]

Before bitcoin is more of currency, that's why we call it cryptocurrency right? It all started there but we are just good in using things for different purposes and bitcoin now is more considerable as an asset, as an investment and this makes everyone to invest more on it that adds the market cap. The way many thinks that bitcoin is good for buy,reserve/hold will give profit which is true and this makes it an asset.

It is still a digital crypto currency. However the valuation of this crypto is increasing day by day and that to leaps and bounds. Thus most of people in bitcoin are holding them instead of using it as currency. Consider anyone who has paid for meal worth 5 dollars in bitcoin seven year ago, would consider it as grave mistake. because at bitcoin valuation of those 5 dollars has increased to the million dollars today. Thus at this stage nobody want to spend the bitcoin as currency. There is nothing wrong in that. We all are doing that. Specially nowadays when big financial players are entering market, it is even more dangerous to spend your coins. Accept it or not but bitcoin is the most profitable investment tool available in market which still could return better profit.

[taiwww]

Crypto is more an asset than a currency. Crypto currencies are decentralised in nature. They are more volatile than traditional currencies. So trading is such assets are more risky. On a marginal fall we may have to bear huge loss. On other hand due to its unique features they are more popular; their price is increasing from time to time. So if we treat it as an asset it will have you more money. We must grab advantage of its volatility. We must buy in installements, i.e. must buy on every fall.

[PrinceCaspian]

Crypto is an asset for me because when you have cryptocurrency, you can have a chance to increase its value without doing anything but just holding it or keeping it safely in a crypto wallet. There is a lot of crypto in the market and they have different project or vision for the future so i think that they are not good for being a currency because they have their own business and responsibility to deal with.

[Hamphser]

Cryptocurrency is both. They are both asset and also currency at the same time because with cryptocurrencies we can use them to make a complete purchase online and execute a safe payment system and we can also just hold them and keep them for long term and have some chance to make a lot of money with it.

I do not see any signs of bitcoin currency. You can now make purchases directly with bitcoin. You can not officially change their bitcoins in the Bank. Bitcoin is very similar to traveler's checks. He has value but only under certain conditions. If tomorrow the exchange and the online exchange will stop working we will figure it out.

If we do try to look on the current situation of Bitcoin it is not really being accepted yet on any parts of the world or globally which we can really say that treating it as a currency would really have still some limit unlike on our traditional fiats and also most holder of bitcoin do really treat it as an asset because of its earning money possibility specially for long term basis.People do have different treatment though and do have different beliefs but this would base on case to case situation on where a certain bitcoin holder do live.

[LyQaN]

crpto curreny is used more as an asset,in crypto too i believe bitcoin is more treated as asset than altcoins they are more treated as currency and mostly exchanged or spend as soon as a good price is available, yes crypto currencies were ment to be used as currencies,taking eg of bitcoin its still very volatile , and it can be only use as currency in future when its price will become more stable and  then more and more retailers are going to accept it,so i don't think the purpose of it is destroying ,its just not being used as it was meant to be presently but in future it definitely will

[Idrisu]

In accounting, currency is classified as assets if you are holding it. Bitcoin and others coins should be looked at as assets and currency at the same time just as dollars! Bitcoin can been used as a mode of payment, a store of values and a medium of exchange for good and services. Bitcoin is also an assets because you can buy and hold it for long-term purposes.

[dancingnancy]

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?

It's already internationally accessible. The problem is they popularity amongst laymen is scarce. Once it becomes more popular the price will become a bit more stable and everyone can benefit from from trading with btc. It's better as an asset for effective profits or an investment for long term earnings.

[azuremoontears]

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 think its more of an asset than a currency since most people just hold and invest to it, unlike currency which we use daily.

[btctalkPOLICE]

At the moment it is a means of exchange and speculation.

[AlphaWolf]

Cryptocurrencies are mostly currencies because they have unlimited supplies, centralized governance, and it's build for being a payment system. Other than that, no other crypto compares to BTC at being an all-in-one form of money. You can invest in it as if it was an asset, or you can use it as a currency. Right now it is best ot hold them and save them though.

[batang_bitcoin]

Before bitcoin is more of currency, that's why we call it cryptocurrency right? It all started there but we are just good in using things for different purposes and bitcoin now is more considerable as an asset, as an investment and this makes everyone to invest more on it that adds the market cap. The way many thinks that bitcoin is good for buy,reserve/hold will give profit which is true and this makes it an asset.

It is still a digital crypto currency. However the valuation of this crypto is increasing day by day and that to leaps and bounds. Thus most of people in bitcoin are holding them instead of using it as currency. Consider anyone who has paid for meal worth 5 dollars in bitcoin seven year ago, would consider it as grave mistake. because at bitcoin valuation of those 5 dollars has increased to the million dollars today. Thus at this stage nobody want to spend the bitcoin as currency. There is nothing wrong in that. We all are doing that. Specially nowadays when big financial players are entering market, it is even more dangerous to spend your coins. Accept it or not but bitcoin is the most profitable investment tool available in market which still could return better profit.

I know it's still a digital currency but because of the mindset of people today are different. More often, they are seeing it as a tool of investment. New comers think that bitcoin or buying bitcoin will give them a bigger profit in the future which is right as it is a very volatile coin, prices are changing from time to time.Those past transactions are legend, it all started because of them and if it isn't because of them who started it we are not here.

[Kelvinid]

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 think its more of an asset than a currency since most people just hold and invest to it, unlike currency which we use daily.

I agree.Crypto is more of an asset to me because i'm earning and holding it for my future plans.It can also become a currency the moment we convert it to fiat through some exchange sites.But i'm treating as more of my preparation for the bright future of my family.

[Getcoinsite]

Every currency is an asset what ever it is,either physical money or virtual like crypto currencies.so storing bitcoin in wallet for payment or asset is no big deal,and who told you that crypto is created just for payment?i think you have just misinterpreted the nature of bitcoin.

[xuan87]

The first idea of Bitcoin was to to become a currency, a global anonymous currency that is efficient to used for all people, but since of the limited amount and a lot of people demanding Bitcoin, now most of us are storing it as an asset, I think it won't destroy Bitcoin to used it like that, just take Fiat example, it can be used and currency and also investment, so it is not a big deal whether people used it as investment or currency

[Hamstead]

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?

All assests are convertable into currency, but bitcoin is a very unique creation in which it can be made both a valuable asset and a currency. Some of us are mostly using bitcoin as an asset rather than using it for shopping and buying goods. But is some other countries in which bitcoin isn't accepted as a mode of payment, they converted it into their local currency for them to utilize their bitcoin for buying goods.

[richlipkin]

Bitcoin has characteristics of both a currency (e.g. USD) and an asset (e.g. gold). It is unlike anything that has come before it, really. So the answer to the thread title is "yes."

[Tony_Nguyen]

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.

Yes, I totally agree. Then there will be many digital assets could potentially be created in the near future. Sound interesting but also unpredictable.

[palle11]

Every currency is an asset what ever it is,either physical money or virtual like crypto currencies.so storing bitcoin in wallet for payment or asset is no big deal,and who told you that crypto is created just for payment?i think you have just misinterpreted the nature of bitcoin.

I think I understand your own angle with paper money too as an asset but the point is, paper money has no growing value in itself except when it incrues an interest on it added by banks and thats not really the kind of asset that Gold can be nor bitcoin for instance or other altcoins.

Also, paper money can appreciate or add value if there is a change in government policy ,for instance devaluation but bitcoin or altcoin does not appreciate that way ,whether an individual country make a decision against it or not is inconsequential.