Why do people claim cryptocurrencies aren’t an asset?

[Oasisman]

I think the meaning of the word asset is different from the point of view of each person, if I think an asset is something that can make you money regularly, like you make a deposit in a bank and earn interest every year, own property and rent it out, own a retail business, and you get income. routine every day, week, month, year.
while crypto cannot give you a definite profit every day, but its value will increase if the price goes up.

Well, that idea isn't wrong, but the general idea of an asset is something you have in possession that actually has a value. May it be a monetary or sentimental value.
Bitcoin became an asset when it starts to acquire value, or shall we say, when it was used to purchase the pizza.
Bitcoin is money, because it has it's corresponding value comparable to USD. Do we consider USD as asset? Then the answer would be the same as Bitcoin.
IMO, an asset is something that has value, not only If it's generating profit or not.
Do you consider your car as an asset? Car's value are decreasing as time passes by.

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[The cure]

For me you don't have to argue to people who believe differently, the important thing is to be able to explain well how cryptocurrency works. And it is up to them to decide whether to focus on it, the best thing to do is show them that you are a good example of how good crypto can bring to our lives especially in the future generation. Maybe they just don't understand it very well because they haven't tried it yet so if we can explain it to them nicely they might have an interest on it. In my country it is not yet legal, and I think there will be a right time for this and government will surely recognize it and will consider it as an asset.

[ice098]

For me you don't have to argue to people who believe differently, the important thing is to be able to explain well how cryptocurrency works. And it is up to them to decide whether to focus on it, the best thing to do is show them that you are a good example of how good crypto can bring to our lives especially in the future generation. Maybe they just don't understand it very well because they haven't tried it yet so if we can explain it to them nicely they might have an interest on it. In my country it is not yet legal, and I think there will be a right time for this and government will surely recognize it and will consider it as an asset.

Its true that you cant please everyone to believe in the existence of cryptocurrency. They have their different interpretation about crypto and i bet that it was because of the news circulated over the social media telling that crypto wasn't a safe asset worst is cryptocurrency was a scam. Government are afraid in cryptocurrency existence due to being decentralised of the digital currency where government couldnt control it that's also why the government didn't recognize the existence of the cryptocurrency.

[rollingdice]

I visited Investopedia and found a definition of an asset.

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

Can we say the same aout cryptocurrencies? Yes, so what's the problem?

[Latviand]

No matter what you do therell always be someone who's either bitter they missed the boat or can't get over the initial learning curve (which is apparently difficult).

Legal enforcement of smart contracts I doubt will do very much, potentially greater understanding and education could go someway..

Many people said that "don't judge what you don't understand", this is really true because if you have no idea about its importance and how advantageous it is just be quiet. Instead of making bad reputation and doubting bitcoin, just try it and learn how it works. I don't believe that they are envy about how bitcoin is growing, it is growing because it should. Understanding and widely comprehension towards bitcoin is necessary before you judge and make a statement about it.

[Mauser]

I visited Investopedia and found a definition of an asset.

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

Can we say the same aout cryptocurrencies? Yes, so what's the problem?

Yes of course, crypto currencies are definitely an asset. I think only people who don't understand it claim its not an asset. I personally view cryptos just as another major currencies like EUR or USD. So holding cryptos is just as holding cash. Imagine holding $50,000 in a bank account, who wouldn't say that's an asset?
Let's not get fooled by haters.

[jackg]

No matter what you do therell always be someone who's either bitter they missed the boat or can't get over the initial learning curve (which is apparently difficult).

Legal enforcement of smart contracts I doubt will do very much, potentially greater understanding and education could go someway..

Many people said that "don't judge what you don't understand", this is really true because if you have no idea about its importance and how advantageous it is just be quiet.

I don't think that's a policy the general public are actively using, if they'll do the same thing with politics to vote on random pieces of information isolated from the rest - they'll broadcast it too if they've nothing to lose.

[ultrloa]

I visited Investopedia and found a definition of an asset.

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

Can we say the same aout cryptocurrencies? Yes, so what's the problem?

Yes of course, crypto currencies are definitely an asset. I think only people who don't understand it claim its not an asset. I personally view cryptos just as another major currencies like EUR or USD. So holding cryptos is just as holding cash. Imagine holding $50,000 in a bank account, who wouldn't say that's an asset?
Let's not get fooled by haters.

People who don't know about it will just think that this is an investment venture since many of people claim that they are been scam by bitcoin eventhough they are been compromised by those ponzi sites which take their money out of their pockets. But for people who's knowledgeable about this for sure they will think about that this is an asset since they will always have a crypto hold in their wallet and used it on daily and long time basis.

[ipanks]

No matter what you do therell always be someone who's either bitter they missed the boat or can't get over the initial learning curve (which is apparently difficult).

Legal enforcement of smart contracts I doubt will do very much, potentially greater understanding and education could go someway..

Many people said that "don't judge what you don't understand", this is really true because if you have no idea about its importance and how advantageous it is just be quiet. Instead of making bad reputation and doubting bitcoin, just try it and learn how it works. I don't believe that they are envy about how bitcoin is growing, it is growing because it should. Understanding and widely comprehension towards bitcoin is necessary before you judge and make a statement about it.

People out there will find it hard to accept the new thing because they don't want to learn about it. It is easy to judge something if we don't know if that can give you good things or bad things. They don't think how bitcoin can grow as higher as now and they don't believe it. So they tell other people that bitcoin is not anything, even bitcoin is not an asset for a long time.

[Vishnu.Reang]

People out there will find it hard to accept the new thing because they don't want to learn about it. It is easy to judge something if we don't know if that can give you good things or bad things. They don't think how bitcoin can grow as higher as now and they don't believe it. So they tell other people that bitcoin is not anything, even bitcoin is not an asset for a long time.

There are two sides to it. A lot of people don't trust online assets, because they have been scammed once. I fell victim to an online Ponzi scheme around 10 years ago, and lost a lot of money in it. And when I heard about Bitcoin for the first time, I was very reluctant to trust it. I was thinking that it will be one of those online scams. Even when I invested in BTC for the fist time (in 2017), I was in two minds.

[Maroons]

No matter what you do therell always be someone who's either bitter they missed the boat or can't get over the initial learning curve (which is apparently difficult).

Legal enforcement of smart contracts I doubt will do very much, potentially greater understanding and education could go someway..

Many people said that "don't judge what you don't understand", this is really true because if you have no idea about its importance and how advantageous it is just be quiet. Instead of making bad reputation and doubting bitcoin, just try it and learn how it works. I don't believe that they are envy about how bitcoin is growing, it is growing because it should. Understanding and widely comprehension towards bitcoin is necessary before you judge and make a statement about it.

People out there will find it hard to accept the new thing because they don't want to learn about it. It is easy to judge something if we don't know if that can give you good things or bad things. They don't think how bitcoin can grow as higher as now and they don't believe it. So they tell other people that bitcoin is not anything, even bitcoin is not an asset for a long time.

In my perspective i think people who said cryptocurrency is not an asset probably experienced different things like, first reason is they tried cryptocurrency before and has their high expectations but then they didn't get what they expected so they just get rid of the it and say that its not worth your time and effort, second reason is they are probably scared to try something that is beyond their comfort zone so they just dont try it and say it isn't an asset but this are some personal reasons but to make a general reasons to why some people don't see cryptocurrency as asset are because crypto is very volatile, they just don't easily trust something that is changing fast, and crypto is a treat to the banking system, people always see the wrong side of crypto because they choose to not look at its capability and potential and if they choose that every single day then we can't do anything about it, let's just wait till cryptocurrency prove its importance to the world.

[shoreno]

People out there will find it hard to accept the new thing because they don't want to learn about it. It is easy to judge something if we don't know if that can give you good things or bad things. They don't think how bitcoin can grow as higher as now and they don't believe it. So they tell other people that bitcoin is not anything, even bitcoin is not an asset for a long time.

There are two sides to it. A lot of people don't trust online assets, because they have been scammed once. I fell victim to an online Ponzi scheme around 10 years ago, and lost a lot of money in it. And when I heard about Bitcoin for the first time, I was very reluctant to trust it. I was thinking that it will be one of those online scams. Even when I invested in BTC for the fist time (in 2017), I was in two minds.

but look at you ,you are still here till now . You are here because you don't learn on your lessoned yet or should i say you gave this investment another chance . Other people that have same experience as you can also do it.

Anyway guys , this isn't about what people think but the topic is more on legality issues .higher authorities can think that cryptos aren't an asset but we people can also think our own way ,not just thinking but we already treat crypto as an asset .

[jostorres]

Because, bitcoin is a currency and not an asset. Asset is the thing you can buy or sell with your money, for example real estate is an asset and you buy it with fiat money and you sell it for fiat money or even rent it for fiat money, or you own a company and that is an asset as well. All of these assets are bought and sold with currency, usually fiat, and most commonly dollars.

However difference is, we are talking about something like a currency here, obviously you can use it like an asset as well, just have it and hold it and not sell it for a long time, it will become an asset or an investment, but normally you can use it by earning it as a salary from your work and go buy groceries with it or buy a cup of coffee at starbucks. So, at the end it is both an asset and it also not depending on how you use it.

[bitgolden]

Not every person who say crypto is not an asset is a person who doesn't like it, in fact there are people who love it a lot that says the same thing, including me.

I have been trying to explain to people that "crypto currencies" are literally just that, a currency that is crypto, a currency is rarely an asset in people's minds. Obviously that is wrong, if you have 5k dollars aside as an investment and getting interest rate from bank that is considered asset as well but some people do not see it that way, the difference is, if you have 5k dollars as a salary and you spend it that month and move on with next month that means it is your money and not really an asset because you are spending that inside the month you are paid, but when you put it on savings account it becomes an asset. Think of it crypto like that.

[Gozie51]

Not every person who say crypto is not an asset is a person who doesn't like it, in fact there are people who love it a lot that says the same thing, including me.

I have been trying to explain to people that "crypto currencies" are literally just that, a currency that is crypto, a currency is rarely an asset in people's minds. Obviously that is wrong, if you have 5k dollars aside as an investment and getting interest rate from bank that is considered asset as well but some people do not see it that way, the difference is, if you have 5k dollars as a salary and you spend it that month and move on with next month that means it is your money and not really an asset because you are spending that inside the month you are paid, but when you put it on savings account it becomes an asset. Think of it crypto like that.

With your analysis and to what it is in my mind, I take bitcoin as an asset. It is an asset because you buy into it and hodl or trade it for greater profit immediately or in future. An asset is what you can exchange for money, liquidity etc.

[ipanks]

People out there will find it hard to accept the new thing because they don't want to learn about it. It is easy to judge something if we don't know if that can give you good things or bad things. They don't think how bitcoin can grow as higher as now and they don't believe it. So they tell other people that bitcoin is not anything, even bitcoin is not an asset for a long time.

There are two sides to it. A lot of people don't trust online assets, because they have been scammed once. I fell victim to an online Ponzi scheme around 10 years ago, and lost a lot of money in it. And when I heard about Bitcoin for the first time, I was very reluctant to trust it. I was thinking that it will be one of those online scams. Even when I invested in BTC for the fist time (in 2017), I was in two minds.

I even have that experience too in the past and make me lose money. Many people get scam by the Ponzi website because we don't know about that website, and we are too greedy to hear the word "You will get a return for 150% of your investment.
So people tend not to believe in online assets because they see many examples from their friends. They will refuse to join with people who give them a fact about crypto assets.

In my perspective i think people who said cryptocurrency is not an asset probably experienced different things like, first reason is they tried cryptocurrency before and has their high expectations but then they didn't get what they expected so they just get rid of the it and say that its not worth your time and effort, second reason is they are probably scared to try something that is beyond their comfort zone so they just dont try it and say it isn't an asset but this are some personal reasons but to make a general reasons to why some people don't see cryptocurrency as asset are because crypto is very volatile, they just don't easily trust something that is changing fast, and crypto is a treat to the banking system, people always see the wrong side of crypto because they choose to not look at its capability and potential and if they choose that every single day then we can't do anything about it, let's just wait till cryptocurrency prove its importance to the world.

They don't know about crypto and they don't want to accept the new thing. That is their reason not to involve in the crypto. Besides that, they don't want to lose their money from the investment in the cryptocurrency. I agree that they don't want to leave their comfort zone because they do something that still does not have a bright future. They will try to invest if they can see the number in the future, but they still don't want to follow the other people who already joined the crypto.

[Ucy]

I think it would depend on this question: "What is an asset" and "Can money/currency be an asset"? If it can, then cryptocurrency can certainly be an asset because it's money.
There are things that aren't currency/money in Decentralized Network/system that can be regarded as assets. Maybe this is part of the reasons people get confused whether cryptocurrency is money/currency, or asset or both.

[rodskee]

Post above me says it is depend on how we look about what asset is all about and i agree on that because Cryptocurrency is also a Money that is in crypto form so this can be an asset for one but not to other.

but what ever is this coins?we must understand that these are helpful to all of us,maybe we cannot find that now but for sure in future.

[proTECH77]

Cryptocurrencies is a pure asset which someone can invest and gain more profit . I think the people that claim that cryptocurrencies is not an asset are people which
 cryptocurrency is an  illegal in their country. And such people don't have idea in cryptocurrency investment.
In my country cryptocurrency is well legalized everywhere in the country. We use cryptocurrency as an asset to purchase and invest  to get something good as a profit at the end of the business.

[Restmand]

I have had this debate with may different people from different walks of life. In many parts of the world, cryptocurrencies are considered an asset and most of us might be well aware of this too. However, there are many reasons it is still not considered an asset, many( especially regulators ) believe it to be mainly due to the lack of legal rights. This can probably change completely in the future when serious regulated players like Banks get involved. Governments surely see value in it, but they are still skeptical. I think this will change over the due course of time once crypto starts gaining more mainstream traction.

Another interesting approach I came across is trying to introduce a layer by leveraging Blockchains like Concordium which claim to have regulatory compliance and Identity verification at a protocol level. Attempts like this sure might give more confidence among banks to start cryptocurrency custodianship/ interaction. 

With the advent of such practices, cryptocurrency may start being viewed more seriously in the legal world and smart contracts can be legally enforced too. So cryptocurrencies can probably finally be seen as an asset even according to local laws of that particular country.

It isn't going to happen overnight, it sure will be a tough battle,but I see it as a sensible way forward. Is cryptocurrency legal in your country? What are your thoughts?

Most people do not consider as cryptocurrency as an investment because what they have in mind is cryptocurrency is scam, almost all of us have heard about bitcoins and some other digital coins and we also have heard that a lot of scammers are surrounding cryptocurrency. Also you are correct there are no legality behind cryptocurrency that can guarantee people that their money are safe to invest.