Bitcoin - If you had the choice to vote - Commodity or Currency?

[epidose]

I voted for commodity; I did this based on the active definitions of a currency vs the definition of a commodity.

Ultimate, since BTC is technically finite, I think it has to be looked at as a commodity since its value is very much defined by market operations, and if not now, then eventually, by supply and demand.

I think it's intent is certainly as a currency, but it's current characteristics, to me, really do not align with that of a currency (not backed by a Government FIAT, not a slowly decreasing inherit value if held.

Ultimately, in it's current state, BTC almost acts a currency that is backed by a commodity, although strangely it's almost itself as the commodity too.

Bottom line though, I think that because BTC, by definition, has a finite value, it ought to always be considered a commodity (keeping in mind that commodities can easily be used as currencies).

[Kakmakr]

I voted for commodity; I did this based on the active definitions of a currency vs the definition of a commodity.

Ultimate, since BTC is technically finite, I think it has to be looked at as a commodity since its value is very much defined by market operations, and if not now, then eventually, by supply and demand.

I think it's intent is certainly as a currency, but it's current characteristics, to me, really do not align with that of a currency (not backed by a Government FIAT, not a slowly decreasing inherit value if held.

Ultimately, in it's current state, BTC almost acts a currency that is backed by a commodity, although strangely it's almost itself as the commodity too.

Bottom line though, I think that because BTC, by definition, has a finite value, it ought to always be considered a commodity (keeping in mind that commodities can easily be used as currencies).

You know, the foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. So even if your government define Bitcoin as a currency, then traders can still trade it as a commodity. This is why I would want Bitcoin to be defined as a currency and why I would draw my X at the "Define Bitcoin as a Currency" option.

The moment when you define Bitcoin as a commodity, you restrict merchants from accepting it as a currency and that will hurt the whole Bitcoin eco-system.

[Formonn]

Let's say we live in a perfect world, where citizens still made the decisions on political matters and you as an individual were given the choice to vote on a subject.

If the choice were given to you, would you vote for Bitcoin to be accepted as a currency or a commodity? Your governments wants to accept Bitcoin, but they do not want a multi-function and open defined technology. They only give two options on the ballot paper.

1. Define Bitcoin as a Currency

2. Define Bitcoin as a Commodity

You have to remember that the definition will determine the future and the taxes that would be applied to the technology. <VAT or Capital Gains> Where will you draw your X ?

Let's see what would happen, if people were given a choice.   < Both is not a option >

I would vote for Bitcoin as a currency as it offers quite a bit more security for my hard-earned "money" with its decentralization than regular centralized banking.

[BrewMaster]

a "commodity" doesn't even make any sense for bitcoin! everything about bitcoin is designed in a way from day one to be a currency. the paper mentions it repeatedly as a digital cash and all the popularity that bitcoin has ever gained and will ever gain in the future has been because it is a currency. i see this as a question with one and only answer: a currency.

[anhzaibro]

I find that BTC can exchange between other currencies and it can also be a standard for electronic currencies so it will be a currency. But technically, it is based on blockhan technology, it can be a commodity.

[jerjer]

a "commodity" doesn't even make any sense for bitcoin! everything about bitcoin is designed in a way from day one to be a currency. the paper mentions it repeatedly as a digital cash and all the popularity that bitcoin has ever gained and will ever gain in the future has been because it is a currency. i see this as a question with one and only answer: a currency.

Maybe on deepweb bitcoin is really accepted as a currency ,But sad to say , bitcoin today seems failed to become a full currency of the world because of many issues on bitcoin like very slow transaction. Many treated bitcoin as an asset than a currency. In fact many called bitcoin as gold 3.0. Just an opinion.

[chennappa121]

most majority will support that bitcoin will be currency only not a commodity and my options also bitcoin will be a currency. the bitcoin will be our future currency it will be replace cash system.