Crypto is an Asset or Currency?

[syaripudin]

I think crypto is a virtual currency at the same time can be a very great asset. and of course there will be so many people who will use the power of crypto to be a very profitable asset because it is true that in fact it can not be denied that crypto has become a magnet for investors who want to invest by using the digital currency system because this is a value-added investment system the highest asset for now. crypto is a decentralized virtual currency which of course is not easy to be an electronic currency with a purpose to serve as one means of transaction. because any currency that can be used to transact of course there will be parties that can control like the government and while no crypto can control it at all.

[iMark]

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?

Bitcoin cryptocurrency can both play as a currency and an asset. As you can observe, why would it be called a cryptocurrency if it does not act as a currency? Bitcoin is a kind of currency in a form of being a virtual currency. In this type, currency can be used and accessed easily compared to the regular currency we have. In a way that it acts as a asset because it is good for long term holding especially for investments because it inhibits the characteristic of being capable and be able to grow in a designated period of time.

Lol yeah thats true, from the name we already know that bitcoin is a currency, you can use bitcoin to shop, I think now there are many merchants and reatillers who accept bitcoin as payment option, and of course bitcoin can also be used as an asset because bitcoin has value selling, where bitcoin has a higher price when more demand, perhaps from that bitcoin worthed to be an asset,,

[Ilegendph]

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

What I like with crpyto is that it revolutionized our financial system from notary services, remittances, equity, etc. And this kind of technological advancement will help an economy to grow specially the notary services since it can be used for government services so that they become transparent to tax payers.

[athanz88]

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?

In my opinion, crypto can serve as both. It can be an asset or a currency. It is decided by the ecosystem of the cryptocurrency itself.
But for now in several country, it is more suitable for crypto as an asset or only a trading currency as in several country didnt fully support bitcoin ( or cryptocurrency in general) as a legal payment. And not to mention not all vendor or merchant supports it yet. And in some advanced country, they already make bitcoin (or cryptocurrency in general) as a legal payment system and some vendor/merchant supports it too, so it almost like a real currency that you can use to spend directly.
And in my opinion, to hold coin wont destroy the initial purpose of cryptocurrency. It is just not the time yet for cryptocurrency to fully serve us as a quick and fast transaction currency.

[aoki231]

I think the right term for crypto is an intangible asset. It is a digitalized currency that has became an asset because a lot have been buying it. Its intangible since you can’t have it physically unless you exchange it.

[ToyotaFortuner]

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?

digital currency is cryptocurrency which can be called asset because you buy bitcoin then bitcoin you have is your asset. multiply the assets you have for the future.

[Grodins]

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 as Asset or Currency  but it used for Asset  more than currency. every one only need to earn fast money and not care about Continuing doing like this will destroy the initial purpose of the coin

[Xenoph0bia]

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 as Asset or Currency  but it used for Asset  more than currency. every one only need to earn fast money and not care about Continuing doing like this will destroy the initial purpose of the coin

Yes well said.Everyone now is using crypto as an assest and holding them for future rise in prices so that they can receive more profits in a short period of time.But crypto has well adapted itself in the market.It serves both the purposes.Many transactions are also done through cryotos.Tradres are also accepting cryptos today.People are using cryotos for investing.If people are having some cryptos then they are saving them too.

[rlim475]

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 a very general term and for me it depends on each one. Some definitely do not function as currencies, some definitely do not function as assets. Bitcoin for me is kind of a new class where it is speculative but also has a value.

[Omega Weapon]

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?

Because of the high value of bitcoin, cryptocurrencies will can be labelled as assets.
People are buying crypto and hoping that in due time they can sell it at high price.

Crypto is both, bitcoin is an asset for the reasons you explain however when an asset has the right characteristics it begins to be used as a currency by people that is what happened to gold and silver, people began using gold and silver, two assets, as money because they fitted the definition of what is money perfectly and it is happening the same with bitcoin.

[bigvito19]

I'm going to go with.......Crypto is an Asset

[Granxis]

For thinking and evaluating Bitcoin, Bitcoin is a currency. I do not care who thinks, but everything that can be spent for me is a currency. Bitcoin is the currency in this case, but it is not the fiat currency.

[smith136]

If I analyze deeply the nature and use of crypto currency they are mostly has the characteristic of an investment which falls other the category of trading investment rather than a currency but I believe bitcoin started as a currency which is the purpose but people tend to earn from cryptos because of its volatility. We can't have a clear-cut regarding the account classification of cryptocurrency and I think this will soon be an accounting issue.

[AlaitisalKhayr]

Crypto is a currency, people call it cryptocurrency. Its much better than paper money, its fast, uncounterfeited, and secure. The strongest cryptocyrrency  is bitcoin but there many type of cryptocurrency that we call altcoin.

[nikenv2212]

it is not important to argue crypto as a digital currency or asset because crypto covers both. the most important of the crypto you can have income or increase your wealth

[Aryanto28]

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?

As has been explained to all of us that crypto is a non-currency asset because if crypto in that currency will cause problems to the existing bank in a country and if crypto is used as currency for transaction then the transaction is not valid in law because one- the only thing that can be done in a transaction is money in the country. Therefore, bitcoins are made in assets to prevent misunderstandings from occurring.

[futile-resistance]

Crypto is definitely is an currency but people are using it as an asset buy using its rapid price increase.

But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.

There is no doubt in this fact that the job description of digital currencies has been changed over the course of time. Initially these currencies were developed as you said to make online transactions but now people are using them as mode of investments than as mainstream method of making transactions. The ever growing market values of these coins are forcing people to treat them as investments than as currencies.

Yeah mate you are right everyone has his own preferences and all this thing shows that bitcoin is the everything to investors currency a investment an asset as well all these are beneficial for the community as well and for me personally I am taking bitcoin as an asset so that I can live an easy life after retirement and can give my kids a great and wealthy future so that they can live happily and lavishly by using profit of bitcoin.

[shoreno]

crypto is both currency and an asset at the same time because it can be used in both and applicable to both of them like for example i can use my crypto as a form of investment and other times i will also like to buy things online using my crypto for a convienient shopping and to avoid much hassel when compared to credit or debit cards and any other payment method that requires your important information. cryptos can also be used on trading , sending payment or recieving , mining , etc. therfor crypto can be anything or it can be a multiprpose tool and not just an asset or a currency.

[nl247]

If I analyze deeply the nature and use of crypto currency they are mostly has the characteristic of an investment which falls other the category of trading investment rather than a currency but I believe bitcoin started as a currency which is the purpose but people tend to earn from cryptos because of its volatility. We can't have a clear-cut regarding the account classification of cryptocurrency and I think this will soon be an accounting issue.

It is really not like we cannot have a clear cut characteristics of cryptocurrency. It can definitely serve as both and it all depends on the angle each and everyone tend to see it anyway. There are some people who still make use of the currency aspect of it even today, while some do not and prefer holding based on the asset characteristics of it. Crypto is still new and this is expected, and surely, someday, we may see things being different.

[AlphaWolf]

It depends. At this point i'd call Bitcoin an asset although originally it was a currency.