Bitcoin become an asset

[indrakusumaindra]

https://bitcoinmagazine.com/articles/south-korean-supreme-court-rules-bitcoin-asset/

 I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction.

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[jayanath123]

personally i think bitcoin is an assets,when ever bitcoin is a currency, but bitcoin currency is very strong currency so we can say bitcoin is a currency and big an asset.

[Duzenn]

I still think bitcoin is an asset, and it's hard to call it currency.
Because currency is going to be widely used, and bitcoin is hard to use on a large scale right now, I expect the lightning network to change everything.

[First77]

Yes, bitcoin has been declared as a speculative asset but Gold is $1300/ounce and Silver $17/ounce.

Bitcoin at $2,000 is also high. What is the point of mining cost of one Bitcoin = $5,000 when mining cost of gold in $500/ounce ??

[Lorna111]

I still think bitcoin is an asset, and it's hard to call it currency.
Because currency is going to be widely used, and bitcoin is hard to use on a large scale right now, I expect the lightning network to change everything.

It is a great news for Crypto user in Korea to have such benefits, and its a welcome opportunity for the new investors to come in, and participate into digital market trading. I am looking forward for another window of opportunity for other financial institution to follow thru after this great new from Korea. more possible investors will look into the possible investment. Beside, Bitcoin really is an asset, its only how you put in your investment into the market.its good for short term and long term investment, it is just a matter of taking care of your business investment.

[Sakash]

Bitcoin is becoming wealth in my opinion. But bitcoin is not a fixed asset for you or me. Bitcoin is considered as an ongoing asset resource. Because bitcoin has changed hands in a short time.

[mitakatu]

Personally, I think bitcoin is a kind of asset, it has great value, and evaporates at any time

[kauban2018]

https://bitcoinmagazine.com/articles/south-korean-supreme-court-rules-bitcoin-asset/

 I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction.

In my own opinion, I consider  Bitcoin as valuable thing or an asset to people for they want Bitcoin. For lile any other currency, Bitcoin follows the rules of aupply and demand of the economy. This helps people to make trade easier, enabling holders to convert goods into a widely tradable commodity through the business sale and then it uses to purchase nearly anything they wish to have. The most important thing that makes Bitcoin valuable is that, Bitcoin is different from the other. It has its own capabilities to people's want, it shows its uniqueness to people.

[ipinkang]

In my head i think bitcoin is currency and that can be used as asset, depend how you will used it, as currency you can buy and paying use bitcoin and if you want it as asset ,that easy just let bitcoin in your personal wallet in my opinion it is asset.

[braves182]

This eternal question about the bitcoin nature. What is Bitcoin? More and more people see that the world of traditional finance isn't perfect. Perhaps BTC will be widely recognized around the world, which will be reflected in the large transactions volume. Subsequently, bitcoin can become a widely used GLOBAL DIGITAL CURRENCY. This is the best scenario! But to do this, it needs to become more stable against other currencies. Central banks and governments must recognize bitcoin ,then it can compete with fiat.

[Wittycoin]

They are saying that bitcoin is a currency that is digital which is able to use to buy goods or services but what people really do to bitcoin is using it as an asset to be able to earn big amount of profit, not as currency. Also for me I utilize bitcoin to earn profit not for buying goods or services.

[jagaban]

Even before this news I believe bitcoin is already considered an asset by many. Most people buy bitcoin to hodl believing that the price will go up in the coming years. It is an asset worth keeping at the moment

[zebrabounties]

I think that Bitcoin is just a currency at the moment, that has a very big potential for a growth. This growth or let me say demand, will make it even more valuable and it will be turning Bitcoin to an asset that everybody will be demanding, also its Maximum supply or limit is the key point to push it further the value of Bitcoin to be higher.

[jaaeeeyyyy]

https://bitcoinmagazine.com/articles/south-korean-supreme-court-rules-bitcoin-asset/

 I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction.

Technically bitcoin is not an investment. Bitcoin purposely made to become the currency for the future viewed as the cashless society on 2009, just so happen unexpectedly that bitcoin gained so much now that it costs thousands of dollars, even a million on different currency and so does become an speculative investment for some.

[Raypok]

Bitcoin is a currency but is showing signs of a asset. When it becomes a real asset in the future due to regulations i think that we're back where we came from.
It then will be just another asset, manipulated by certain parties and controlled by others. Just like how the stock, future and commodity markets are today.
The whole privacy and decentralizing discussion can be put to bed then.

Blockchain will survive without Bitcoin, mass adoption is already on his way, a lot of companies worldwide are developing or researching Blockchain usage for their bussiness/sector/branche.

Don't get me wrong, i'm against total regulation, but i'm a rational person and know it will probably be the other way around.

With regards  

[BrewMaster]

your title is very misleading. bitcoin did not become an asset. bitcoin is still bitcoin, nothing has changed there. it is just the government of one country (south Korea) that is now considering bitcoin as an asset.

i think it is too soon for us to say if it is good or bad. the fact that they officially talked about their stance about bitcoin is a good thing but depending on taxation and other possible restrictions or lack thereof it can be good or bad.

[bitvalak]

https://bitcoinmagazine.com/articles/south-korean-supreme-court-rules-bitcoin-asset/

 I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction.

good news, as it will be easier access bitcoin in korea. The most important is the ease of access first, rather than having to argue about being recognized as an asset or currency. I think if the bitcoin population is complete then it will be the currency

[Caelanpelley]

Bitcoin has become a valuable asset. Not only that, it has the potential to bring in huge profits over any investment. It is only paper money that can not be grasped and looking directly it is only made through computer systems connected to the network.

[kingkonjac]

bitcoin`s mission was to be a currency and until a long time it was considered as a currency and is considered now also but the way it is treated is more like an asset and with those high fees of transaction it will remain to be treated as an asset.

[FrueGreads]

I do agree with OP, and this is not what bitcoin was created for, but I do understand that in order to become a currency, bitcoin probably needs to follow this path first. If bitcoin is an asset it means it has value, since it can be easily traded, I think it wont take long for it to actually become a currency as well. My only problem with this, is to know how these trades will be taxed, because that could eventually harm bitcoin use as a currency. One thing is sure though, if bitcoin gets recognition as an asset, it should eventually attract more investors, and that should be good for BTC.