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Author Topic: Do you think Bitcoin is a security, a currency or a commodity?  (Read 1113 times)
Segway
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November 03, 2018, 01:34:23 PM
 #161

I agree with the view that bitcoins cannot be assigned to just one label of product, security or currency. It is a combination of all three. The unique bitcoin is that it is so different and so profitable from all sides.
iTradeBit
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November 03, 2018, 01:49:44 PM
 #162

 It has purchasing power and can act as an equivalent when buying other goods. By these features BTC is currency.
wizardcrypto
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November 03, 2018, 01:54:52 PM
 #163

Bitcoin is a  currency that is use for financial transactions online unlike the paper  traditional currency that is use offline . most shopping centers now accept bitcoin as mode of payment in their online shops, what differentiate bitcoin from paper currency we see today is that the formal cannot not be touch or feel and non destroyeable and there are proof of transactions that can not be erase unlike the paper currency that human can erase any time they want .hence i will conclude here that bitcoin is a currency

Kim Addington
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November 03, 2018, 02:12:09 PM
 #164

Bitcoin is a currency. It has all the characteristics of a currency, the most basic being that it is used to pay for something. Commodities are not used that way.In my view the value of bitcoin is based on its ability to do easy and highly secure money transfers and payments, particularly across borders.On top of that, speculators predict its monetary value by estimating its use in the future, in a couple of years, and they seem to come up with a factor of 50, meaning that 50 times as many bitcoins are currently hoarded by investors in the expectation that their use as money will increase 50-fold.
It is possible that part of this figure of 50 is caused not just by expected future use as money, but by governments driving people into bitcoin by debasing their own currencies. It is debatable whether that is something different from expected future use or the same.
tarangogu
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November 03, 2018, 02:13:40 PM
 #165

I think a bitcoin is a currency but cannot be used due to the exchange rate difference in daily life. nowadays it is used more as an invesment and transaction tool
April Ford
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November 03, 2018, 02:29:36 PM
 #166

Prior to fiat currencies, the dominant currency was often the most useful, and therefore the most universally desirable, and therefore the most universally accepted commodity. There is zero need to decide whether Bitcoin is a currency, commodity, or store of value. It's clearly all of these.
Governments and regulators will no-doubt decide otherwise -- I'm simply speaking technical truth.
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