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Author Topic: Do you think Bitcoin is a security, a currency or a commodity?  (Read 839 times)
AlexTF.CCN
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August 13, 2018, 06:20:24 PM
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The endless debate... Do you think Bitcoin is a security, a currency or a commodity? We came up with a few reasons why it could easily classify in any of those categories: https://cryptocoin.news/analysis/is-bitcoin-a-security-a-currency-or-a-commodity-2-18643/

What do you think it is?
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Khan Apon
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August 13, 2018, 06:27:53 PM
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I think bitcoin is a coin and bitcoin have a great future. And usually say that bitcoin is a currency. 
And bitcoin is a commodity for all user.
But when you keep the bitcoin, that's mean keep password and hide it seriously and in situation bitcoin is a security.
It's my opinion, you have other please tell me?
                   
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August 13, 2018, 06:51:10 PM
 #3

Commodity.

It's already been explicitly excluded from the definition as security by the SEC which'll do me.

As a currency I just don't see how it's ever going to work en masse when it's deflationary. No one will spend it unless it's the only option available to them. It's conceivable it may see far more use as a currency in countries that have weak banking and local currencies and little to none in countries with healthier fiat currencies.

Even if Bitcoin reached 'full penetration' straightforward deflation versus what you're paid in makes it less attractive to spend if you can avoid it.

3acaga
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August 13, 2018, 06:58:23 PM
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It can be said that bitcoin is more now a commodity and it is bought for resale in the future, and not for trading using as a currency.
Already at the moment there are crypto-currencies much better anonymity than bitcoin.

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August 13, 2018, 07:55:37 PM
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The endless debate... Do you think Bitcoin is a security, a currency or a commodity? We came up with a few reasons why it could easily classify in any of those categories: https://cryptocoin.news/analysis/is-bitcoin-a-security-a-currency-or-a-commodity-2-18643/

What do you think it is?

I think bitcoin will be "Commidity" especially for those investors, rather than they buy Gold or house and lot they buy bitcoin as a commodity because they believe that someday it's value will be great.Also this is a digital currency and this is easy to carry in life or in bussiness because your life will not be dangerous rather than Gold that your life would be dangerous because I think if the holdapers know that you have Gold , they eventually hurt you to get that gold.
Agnusdei12
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August 13, 2018, 08:07:49 PM
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In a world of consumerism, bitcoin has been used as a digital money to pay bills in the fastest and easiest way. Many countries who doesn't have a legal regulation of bitcoin is entering the market in the simplest way of paying bills the fastest and accessible way.  So it can be a commodity but not yet a currency.
perla
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August 13, 2018, 08:19:20 PM
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for now i will say bitcoin is commodity, secure yes a currency is no for me because some people still can't use it as payment. as commodity, at leas bitcoin still can be used and it will help bitcoin to have value, and a lot of people can use it whoever that peoples are

SnowAugustine
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August 13, 2018, 08:20:09 PM
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In a world of consumerism, bitcoin has been used as a digital money to pay bills in the fastest and easiest way. Many countries who doesn't have a legal regulation of bitcoin is entering the market in the simplest way of paying bills the fastest and accessible way.  So it can be a commodity but not yet a currency.

What? How so? It is not being used to pay bills, and it is certainly not the fastest and easiest way. Almost no one accepts bitcoin for payment, and governments don't want to recognize it as a payment form because it would mean that their own one doesn't matter anymore. It's too slow, too awkward, too clumsy, and not easy enough to pay bills. If I want to pay my electric bill, I just sign into my bank account and enter the account number. Instant payment. Bitcoin takes several minutes and it's not linked to your account number.

It's a commodity. A store of value in limited supply.
kamoto
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August 13, 2018, 08:55:07 PM
 #9

Well ... everything is relative. Bitcoin is a relatively safe way of transactions. However, there are other much more anonymous crypto-currencies such as Monero or ZCash. Therefore, I would not recommend using bitcoin if you need the most anonymous crypto currency. It is better to pay attention to the above currencies, they have much more meaning and the main thing is anonymity
AlexTF.CCN
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August 14, 2018, 12:25:37 PM
 #10

Maybe is a commodity wishing to become a currency? Cheesy

People are most likely keeping it as an investment right now rather than using to pay for things.
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August 14, 2018, 12:57:31 PM
 #11

Commodity.

It's already been explicitly excluded from the definition as security by the SEC which'll do me.

As a currency I just don't see how it's ever going to work en masse when it's deflationary. No one will spend it unless it's the only option available to them. It's conceivable it may see far more use as a currency in countries that have weak banking and local currencies and little to none in countries with healthier fiat currencies.

Even if Bitcoin reached 'full penetration' straightforward deflation versus what you're paid in makes it less attractive to spend if you can avoid it.

do you even understand what a commodity is ?!?
a commodity is a raw material used to create other materials
gold=jewellery/circuitry
beef= steak/burgers
oil= gasoline/plastic
wheat= bread/cereal

i know what your thinking (bitcoin is gold2.0) but thats based on analogies unrelated to commodity.gold
infact gold sits in 2 markets. commodity AND asset
bitcoins gold analogies are about its ASSET classification

as for currency. stop thinking currency as just fiat. currency can be anything..

bitcoin is actually an asset currency

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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August 14, 2018, 01:04:06 PM
 #12

Bitcoin is neither of those three... I mean yeah, its a great innovation but it is still an on-going experiment. As a currency, it is not faring well since most people tend to hold--that is not good for  currency as it is meant to be spent and circulated.

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solarion
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August 14, 2018, 01:09:20 PM
 #13

Bitcoin is the currency cum commodity which gives security for your investment. So this all thing comes together only with the name and product sake bitcoin. If you want to invest on crypto currencies this is the right time to make your first or ideal investment bro.

Please do not give damn to any fake news you are seeing about crypto currencies on news site and channel. Ignore everything and make the investment accordingly.

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August 14, 2018, 01:15:07 PM
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I thinl bitcoin is a currency but used like commodity, a store of value. Bitcoin cash is better as a currency to me but it is bcash  Smiley

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August 14, 2018, 01:27:49 PM
 #15

It's better to be a commodity.

Bitcoin doesn't fit other options but can be used as it. It can be used as a currency can be used as payment whenever it is possible to use. As a security as it is not editable and is a great way to secure investments once stable.


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August 14, 2018, 03:48:34 PM
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seems too many people are too ill experienced of classifications.

im laughing at all those saying "commodity". they hav no clue

anything can be a currency. even cigarettes in prison are a currency. it does not matter if only 1000 around the world use it every 10 minutes or millions. it will still be a currency if only 3 people use it a day.
so bitcoin IS a currency.

below that are classifications of it (subcategories)
bitcoin falls into the asset class

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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August 14, 2018, 04:06:34 PM
 #17

Personally, i treat bitcoin as a commodity given that it rarely achieves the tasks of a currency and seldom used as a security given its volatility. Moreso, people seem to appreciate bitcoin as something they can freely trade back and forth, hence the commodity aspect of the coin. However, at the end of the day, the end-user decides what will he/she treat his/her coins, though certain parameters would be given by his/her own government about cryptocurrency and that's for sure.

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August 14, 2018, 04:34:59 PM
 #18

bitcoin is a commodity used in commerce. bitcoin is similar to gold and are items that have stimulated international commerce for years. historically, commodities have played an instrumental role in trade and it exhibits many of the common attributes of traditional commodities. i simply believe bitcoin is a great commodity
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August 14, 2018, 04:35:40 PM
 #19

The endless debate... Do you think Bitcoin is a security, a currency or a commodity? We came up with a few reasons why it could easily classify in any of those categories: https://cryptocoin.news/analysis/is-bitcoin-a-security-a-currency-or-a-commodity-2-18643/

What do you think it is?
Bitcoin is a Currency.
Bitcoin is a Security.
Bitcoin is a Commodity.

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August 14, 2018, 04:38:34 PM
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Bitcoin was initially created to be used as a digital currency but currently it is also being used as a commodity and this has increased the awareness of several people to the use of bitcoin to generate income for themselves.
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