Crypto is an Asset or Currency?

[CMvet1]

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?

Agreed.  Currently, BTC trades more like a commodity rather than a currency.  What drives commodity prices?  Production cost.  What drive BTC price?  Electricity and mining Costs?  Right now the hardware producers are probably the bulk of the product sales in BTC or BCC in the world.  As they hold and don't sell (look at the volumes in their BCT and BCC wallets = 10's and 100's of millions of dollars worth) supply drops, as supply drops demand goes up.

My thought is that BTC will trade like a commodity until mining hash power is not needed anymore.  So wait until the very last block is mined (if the BTC devs let it get there).  Then it will start trading more like a currency.

[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?

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.

Yes, the use is like that currently but I dont know whether it is the good direction or not. Just keep calm and make more income ))

[Charisse1229]

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.

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, Crypto currencies are decentralised in nature. They are more volatile than traditional currencies, and also most holder of bitcoin do really treat it as an asset because of its earning money possibility specially for long term basis.

[Tyrantt]

Right now, bitcoin is more of an investment asset than it is a currency. Yes it is used here and there as a currency but when the huge majority is buying and holding on the long run, that's more of an asset to me.
Maybe some time in the future that will change, but as of now, it's an asset.

[youngagethinker]

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 doesnt supposed to be that way man, if you're talking that crypto is just an asset it is because we are living in the time where cryptocurrencies are still new. So they are acquiring these early cryptos (Ethereum and BItcoin) because these might became a foundation of cryptos and might become the next reserve like gold. But we are going to the time where crypto will be the major payment than fiat. Lets be patient.

[MintCondition]

Right now, bitcoin is more of an investment asset than it is a currency. Yes it is used here and there as a currency but when the huge majority is buying and holding on the long run, that's more of an asset to me.
Maybe some time in the future that will change, but as of now, it's an asset.

Since we know that its a good investment, we tend to use it more as a asset since in the future we will be gaining a lot from it. Unlike as a currency that we prefer to spend in buying stuffs.

[mrcash02]

Bitcoin is considered an asset by many because it worth to be held on long term. If fiat were so valuable like Bitcoin and if it got more price over the years, would you consider it an asset too? Because that is what happen with Bitcoin, it's just a currency that doesn't lose price within time.

Technically Bitcoin is a currency, but people discovered the advantages of using it like an asset and if it's more profitable this way so that is what most people will do at the moment.

[liseff3]

Including both.
A cryptocurrency is a digital asset designed to work as a medium of exchange.

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?

What you say is true, it can be destroy the initial purpose of the coin.

[gambitcoin53]

you can call it an asset and a currency, the terminologies does not matter, when you look at it basically it is a currency, but when you have lots of it and put in crypto wallet and hold it for a period, it resulted as an asset, it is already given that a currency is a term for the sole purpose of buying and trading, while an asset represents your total holdings and earnings resulted from a specific currency such as dollars, peso, euro and yen.                                                             

[shata]

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 is also an asset and a Currency. It is a currency because Crypto is used to buy something that is selling inside and outside cyber world. You can also create a physical money because of this crypto by turning it into paper money via cashout. You will say that Crypto is also an asset because many people invest and gaining profits because of this crypto. Indeed, Crypto is asset and a currency.

[alisafidel58]

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 right it has now become an asset to many people because of its volatile price, the purpose of the coin is still there as it is being used for daily by its user.

[Chrisjay29]

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 its both same
 Because crypto a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.oand the asset isa digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. ... Bitcoin, created in 2009, was the first decentralized cryptocurrency
So its same it base on my research

[congresowoman]

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 purpose will still remain but there will emerge a new primary purpose and that is to serve as asset. Cryptocurrency is BOTH an asset and currency. It just so happened that  the value of it is insane that people are actually saving it for future use.

[jhongzjhong]

Yeah its true and bitcoin now many proves its self just like good services to the users, it serves us like a money or fiat we used to pay bills with easy transactions. That's the asset of bitcoin that we used that's what many people wanting bitcoin continued buying and other are selling.

[chineseprancing]

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 is also an asset and a Currency. It is a currency because Crypto is used to buy something that is selling inside and outside cyber world. You can also create a physical money because of this crypto by turning it into paper money via cashout. You will say that Crypto is also an asset because many people invest and gaining profits because of this crypto. Indeed, Crypto is asset and a currency.

If you invest your crypto currency and it will earned income this is the time that it will turns into assets, however if your crypto currency were in your wallet only and wait for the increasing of value in the market it was only literary currency. For me it’s better if you will invest your crypto currency into different business that earned bitcoin or any other altcoins.

Because I’m sure that if you can do that your assets together with currency will increase both. Also you better to have an investment to easily increase the numbers of your crypto currency in your wallet.

[dameh2100]

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 the crypto is asset because we are buying and at the same time holds for the possibility of increasing the value. But if we use the word crypto, most people, they know it is a digital currency that speeds up the transaction when it comes to money.

[Bonakid]

I think its both we could say its an asset because we can use it in our payment method or we can have an extra income here in bitcoin.We could say its an asset because its like a gold that cannot be depreciated we can invest it to make it more profitable.

[Bitcoinjheta]

I think its both we could say its an asset because we can use it in our payment method or we can have an extra income here in bitcoin.We could say its an asset because its like a gold that cannot be depreciated we can invest it to make it more profitable.

Actually they are both assets and currency because they are involving in holding coin in a forms or selling in at the same time, it could turn to a currency. Thats the reason why i choose both. Cause that what it mean for everybody in these forum, we make earned from it.

[laetitiavh]

Asset or currency it was decided by the way you're using it. If you're using it as an asset ( hold BTC, sell BTC ) it is an asset. If you're using it as an currency ( exchange from BTC to other currency ) it is a cryptocurrency.

[Honest Tim]

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.

I am totally agree with it,  bitcoin is an asset as now still very less companies and organisations accept bitcoin and in future there may be chances that it is accepted by everyone, so for now is more like an asset as to hold it and to make it profitable.  Bitcoin prices are continuously fluctuates as so I think holding bitcoins will give more value in future. Than to use it now. Over the past year and a half Bitcoin has been on a spectacular run, rising in value 140% in 2016 and now an additional 49% in just the past month. This surge in value has invigorated Bitcoin backers convinced this boost in value makes Bitcoin a more credible currency, that it is a sign of the cryptocurrency’s strength.