udidrone
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October 01, 2018, 05:11:11 AM |
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Its all of these things you mentioned! -Its a currency as it could be traded and exchanged. -It is a security ,same way as the stock is. -Bitcoin is a commodity as it could be exchanged with other cryptos using atomic swaps. Sad thing is to be currency not much country that allow it as payment, but you right, bitcoin already can called all that thing because it is almost like fiat money, only need to be more adopted. |
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pakhitheboss
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October 01, 2018, 05:43:02 AM |
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I think Bitcoin can not be considered as a currency nor security. It should be considered as a commodity.
Why commodity?
Bitcoin is smilar to Gold, which is also considered as a commodity. You buy Bitcoin because of its value in Fiat. You then can sell it for Fiat, depending on your requirement. Like Gold the Fiat value of Bitcoin is always changing, it is not stagnent.
In simple word Bitcoin can be bought and sold like Gold.
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pakhitheboss
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October 01, 2018, 06:03:58 AM |
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Yes, Historically if you check the price of Bitcoin from 2011 till 2017. The price of Bitcoin has always reached its all time high every year in November. I have no idea why it happens?. You can read this article. It does gives you the reason why the price went up and then analyze yourself. https://en.wikipedia.org/wiki/History_of_bitcoin |
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Wodomi
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October 01, 2018, 06:29:52 AM |
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My answer is certainly in the bitcoin whitepaper or the purpose of satoshi nakamoto in making bitcoin, in fact bitcoin was created as a digital currency and the words contained currency not commodities.
People have known bitcoin as a currency not a commodity
Bitcoin is a digital currency that is projected as a means of payment globally by eliminating the role of third parties. When Bitcoin was first released and traded in 2009, the value was only $ 0.1 / 1 BTC. But now the bitcoin price reaches 6611USD in September 2018. Even in December 217 it almost reached 20,000 USD. |
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richman3451
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October 01, 2018, 07:56:45 AM |
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bitcoin this e-currency is the same money as we used to face in everyday life the currency provided by security is created for simplicity by the user
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Radio-Active
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October 02, 2018, 02:35:46 AM |
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Indeed it is an endless discussion. Either as a currency or commodity, the fact is, there are many peoples using bitcoin for various thing. It means bitcoin is not only a currency, but a trade-able currency or an asset as well. If you can use bitcoin for trading like commodity to gain profit, why not? |
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yndye
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October 02, 2018, 02:42:42 AM |
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Indeed it is an endless discussion. Either as a currency or commodity, the fact is, there are many peoples using bitcoin for various thing.
It means bitcoin is not only a currency, but a trade-able currency or an asset as well. If you can use bitcoin for trading like commodity to gain profit, why not?
It's a currency that can be use as an asset as well that's why it's a good investment but then it would prevent the merchants as well to fully accept it because of the volatility wherein when they do not exchange it immediately, there is a risk that they would lose when the price goes down since the main currency that they are still using is fiat. When the time comes that they would be exclusively using cryptocurrency then there would be no risk of losing anymore. |
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Arkham Knight
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October 02, 2018, 03:46:42 AM |
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It is just a sepculative asset to me. I've seen few altcoins that make the payment transaction better than bitcoin and we really just need to let it sink in to our minds. Some of them are completely feeless which is also perfect for microtransactions that is good for normal consumers who goes to the market everyday.
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Jocuserious
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October 02, 2018, 03:56:33 AM |
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I think it said that now Bitcoin is a Currency and I have to use in my future asset.trade,invest most likely do that improve more profit with the bitcoin.at the moment if you have to use your Bitcoin for the trading asset then definitely you will get more profit with the short time.
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Piggymonster
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October 02, 2018, 06:12:50 AM |
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For me, right now bitcoin is a hot commodity. It is not yet declared as a national currency in our country, it is like more of an investment, like gold that people buy it using fiat money and trade it to gain profits. It is very valuable that it is so very expensive.
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andriw
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October 02, 2018, 06:26:14 AM |
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Bitcoin is a commodity and currency, a commodity for investment and currency for payment of financial transactions. It depends on the way we see and use it, because bitcoin has the ability to do that even though now bitcoin tends to lean as a commodity for investment.
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whiteblue
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October 02, 2018, 06:33:49 AM |
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I think bitcoin is just a digital currency and bitcoin can be an alternative payment with long distance and with bitcoin it can also be used to transfer money between countries which is certainly cheaper and faster to arrive by using bitcoin all transactions can become better.
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yurekaa
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October 02, 2018, 06:39:22 AM |
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In my opinion. At present, bitcoin tends to be a commodity that can be traded digitally. at present, bitcoin is used more to seek profits from trading than to be used as a currency for transactions. and bitcoin is more widely used for futures investment commodities. and all of this will continue until bitcoin is legalized so that bitcoin will be used as a medium of exchange such as dollars, euros, pounds, rupiah etc.
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Dimas99
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October 02, 2018, 07:24:31 AM |
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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?
everything can happen without anyone can know the development of cryptocurrencies accompanied by the development of technology and progress of the era of bitcoin will be developed because of the investors themselves |
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Andrey13101991
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October 02, 2018, 08:29:13 AM |
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I believe that bitcoin is good as a long-term investment, a kind of means to store and increase their own money. Another very good use of bitcoin is to use it as a means of payment.
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k.nero
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October 02, 2018, 09:05:19 AM |
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It can be all.. a Security, a currency and a commodity. It all depends on the end user, how you choose to use and see it determines what you can call it.
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KonstantinosM
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October 02, 2018, 09:08:15 AM |
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I think it's primarily a commodity, but unlike most commodities it's actually much purer because we can know exactly how much of it there is.
While being a commodity it's also a currency, because it has the properties of one.
I don't think it's a security.
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Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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bonammeo
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October 02, 2018, 09:50:52 AM |
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In my opinion, bitcoin is a kind of secure asset. It still can not replace fiat so I do not call it currency. Bitcoin in the future may be a currency because of its security and reliability, but not now.
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Teebass001
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October 02, 2018, 09:55:39 AM |
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I agree with folks that says it's a commodity. It is actually not practicable to use Bitcoin as a currency. The fees to be paid is quite discouraging.
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Abbey85
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October 02, 2018, 10:36:28 AM |
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Bitcoin is a limited-liability commodity, with Bitcoin gradually becoming a brand name, and its demand for it is increasing, leading to its escalating costs. In other words, the price of Bitcoin is determined by the level of demand for a rare commodity. Therefore, it is not possible to have an accurate estimate of Bitcoin if it is compared to traditional assets. , which is denoted by the currency as the USD.
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