Why do people claim cryptocurrencies aren’t an asset?

[abhiseshakana]

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.

For people who are accustomed to investing in the real sector, they will consider the market and cryptocurrency not truly an investment because non-real investment or financial investment is investing in securities (financial assets) which are expected to increase in value in the future, and this non-real sector is vulnerable to manipulation.

To increase welfare, a strong foundation in the real sector is needed. The real sector requires investment, either in the form of expansion or new investment, which means absorbing new workers and increasing workers' income, which in turn spurs economic growth. From the above perspective, it is clear that growth in the real sector plays a very important role in the process of economic growth, without growth in the real sector there will be no economic growth. Therefore, real sector growth requires investment to maintain the sustainability of economic growth itself.

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[Dorodha]

Known as crypto currency many do not consider it an asset yet in many places no one knows about the use of crypto. In this case it is in high demand in the crypto world and investors consider it an asset. Wealth is usually an asset or a plan for the future crypto is a very good currency for the future. It is possible to earn double profit if the price goes up by investing but it requires patience.

[ipanks]

Known as crypto currency many do not consider it an asset yet in many places no one knows about the use of crypto. In this case it is in high demand in the crypto world and investors consider it an asset. Wealth is usually an asset or a plan for the future crypto is a very good currency for the future. It is possible to earn double profit if the price goes up by investing but it requires patience.

Maybe they are afraid of their countries regulations about cryptocurrency and they don't want to get a problem. That makes them stay away from the crypto world. But they don't know that the crypto gives them the opportunity to make money, and they can earn from many coin lists. We can not force them to use crypto because people will free to choose what they want. If they can open their eyes about the crypto, I think they will start to invest in crypto.

[teosanru]

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?

If we go by the technicals any currency is a an asset. Moreover a financial asset is something which can either fetch you contractual cash flows or some cash flows on surrender of that asset. People who are saying it can be intangible asset if we go by your definition even money kept in your Bank account is an intangible asset it barely exists in reality. Regulations cannot make any thing an asset or something. Asset is basically something that you think is valueable for you. A major debate however could be that whether cryptocurrencies are a currency or an asset? I think this would be something that even the regulators will take too much time to decide.

[DabsPoorVersion]

many( especially regulators ) believe it to be mainly due to the lack of legal rights.

This is one of the reasons why,

Since crypto is not being controlled by the government, they see it as a lack of legal rights. Even if it is considered as money, online money, or an intangible asset that can be used to purchase or do transactions, as long as they don't have the right to control or regulate cryptocurrency, they will not consider it as an asset.

[Kasabus]

many( especially regulators ) believe it to be mainly due to the lack of legal rights.

This is one of the reasons why,

Since crypto is not being controlled by the government, they see it as a lack of legal rights. Even if it is considered as money, online money, or an intangible asset that can be used to purchase or do transactions, as long as they don't have the right to control or regulate cryptocurrency, they will not consider it as an asset.

Mostly people think about an asset  is that being legalized by the government and is supported by it but for me, as long as it has a good value that can be very beneficial in the future, then it can be considered as an asset. Hopefully once cryptos will become a mainstream and starts gaining even local adoptions from the government, people will definitely start seeing it as a good asset.

[MCobian]

Some people are not ready to accept technological advances, so it is difficult to accept cryptocurrency as an asset.
Especially old people who think assets are real and do not understand digital assets. It takes time for everyone to
accept cryprocurrency as an asset. Whereas in my view assets are all things that have value, so because crypto has
a value like gold, supposed cryptocurrency is assets.

[Peanutswar]

For me, I think the cryptocurrency is an asset set aside the law because we are talking about the property there are rights that you owned coins, not you are owning the whole characteristic or being a creator of this coin instead you have the value of this coin. I think this is part of the Current Asset that we can use the cryptocurrency that may possibly convert into cash. There are some misconceptions about the assets this is just only a tangible thing but no there is a different kind of assets. Also, there is a chance this may use for Financial assets because this can be used for daily needs that can be spent.

Code:

5 types of assent you can visit this too.
https://simplicable.com/new/asset

Some people are not ready to accept technological advances, so it is difficult to accept cryptocurrency as an asset.
Especially old people who think assets are real and do not understand digital assets. It takes time for everyone to
accept cryprocurrency as an asset. Whereas in my view assets are all things that have value, so because crypto has
a value like gold, supposed cryptocurrency is assets.

There are some places that do not accept the use of the bitcoin they still want to stick on the traditional way of payment method which is the use of the fiat currency we cannot blame them because this is implemented by their government and we all know some of the cryptocurrencies are centralized and the bitcoin is not, so they cant make a fully manage on this kind of action.

[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?

In our country, a lot of people are still not know bitcoin or cryptocurrency. When somebody introduce it they believe it is scam. Crypto here are scam in the mind of the people due to many scammers used bitcoin and other cryptocurrency when asking for investments. But if a person will observe and study about how bitcoins works and how to earn on it they will understand how high is the earnings will get.

[AjithBtc]

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?

In our country, a lot of people are still not know bitcoin or cryptocurrency. When somebody introduce it they believe it is scam. Crypto here are scam in the mind of the people due to many scammers used bitcoin and other cryptocurrency when asking for investments. But if a person will observe and study about how bitcoins works and how to earn on it they will understand how high is the earnings will get.

Negative things easily get spread than the good about anything. Awareness is the only way to make people stay away from scammers. This is why people have an understanding that bitcoin is a scam. In most of the country bitcoin is given importance as an asset for trading and not as a legal tender same as the fiat currencies.

[Leviathan.007]

Since cryptocurrencies are still new to the economy world, the market is still young and comparing to the other assets cryptocurrency have less value this will make the market unstable comparing to other assets . In the other hand, bitcoin and other cryptocurrencies has some legal issue on some countries and many governments are not really clear about what they want to do regarding this new technology. during the life of crypto, many exchanges and famous cryptocurrency related companies got suspended by some governments this can be anther negative side of the story. Also another reason can be quoted by warren buffet that he said bitcoin has no value by itself so this can't be counted as an asset.

[0t3p0t]

Maybe because people are thinking of something like real estate, bonds, gold, silver, platinum, banks, insurance or other investments. That is what people understand what asset is and not crypto because governments discourage people of using it due to it's risk. But for me that is on how people really understand what investment is even though other think it's not. Cryptocurrency is decentralized and earns critics from governments and legality is something questionable in some areas that is why people does not consider cryptocurrency as an asset but for me it is, why? Because it puts income on my pocket simple as that.

[worldofcoins]

Due to decentralization, people think its not an asset. Bitcoin has much potential and its price is unstable.
Most people think its a scam because its price can never be stable and that's why they don't count it as an asset.
They're less educated, I believe in bitcoins and its assets for me. No matter who thinks negatively about bitcoin I will always here to support it.

[jaysabi]

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.

For people who are accustomed to investing in the real sector, they will consider the market and cryptocurrency not truly an investment because non-real investment or financial investment is investing in securities (financial assets) which are expected to increase in value in the future, and this non-real sector is vulnerable to manipulation.

There are more and more bridges between the traditional investing world and the crypto world. There are all kinds of companies that offer services to institutional investors, which is fairly new. However, I don't know why investors would want to pay the fees associated with something like a Grayscale (to name one) which are exorbitant compared to buying crypto yourself.

[finaleshot2016]

It's clear that they lack knowledge about currency because every currency that exists, physical or digital, is considered as an asset.

An asset is recognized in the balance sheet when it is probable that the future economic benefits will flow to the entity and the asset has a cost or value that can be measured reliably.

Like what the internet says, it has a cost and it's visible in our eyes that cryptocurrencies have value and many of us already earned profit here through trading and different kind of activities. Even stocks are also asset, if they think stocks as an asset, therefore, cryptocurrency is also an asset unless they doesn't know what's the true definition of asset. There are two kinds of assets: tangible and intagible assets, it's obvious that the intagible are those digital currencies.

[btc78]

Known as crypto currency many do not consider it an asset yet in many places no one knows about the use of crypto. In this case it is in high demand in the crypto world and investors consider it an asset. Wealth is usually an asset or a plan for the future crypto is a very good currency for the future. It is possible to earn double profit if the price goes up by investing but it requires patience.

looking for double value will only lead you to losses mate because the crypto is volatile and anything change in a matter of hour.

Crypto is depend on how we treat this like me.

I rather call it asset than a currency because i tend each coins i have to Holds till and wait for the price to move up before selling it.

In this case it become a asset and not actually a currency.

[bearexin]

Known as crypto currency many do not consider it an asset yet in many places no one knows about the use of crypto. In this case it is in high demand in the crypto world and investors consider it an asset. Wealth is usually an asset or a plan for the future crypto is a very good currency for the future. It is possible to earn double profit if the price goes up by investing but it requires patience.

Actually bitcoins being a digital asset makes it float among currencies and as well as asset. I mean no doubt BTC is an asset and similar to gold one can sell the asset and get cash/fiat but why bitcoins are deemed as currency is because of the ease of transaction we can actually spend them and purchase items while the irreversible nature provides a unique feature which traditional payment methods still lacks. In true words though we cannot classify them as currency because as far as I understand currency means it is backed by the government of a certain country while we know that BTC being decentralized no one controls it.

I love always love the debate around asset and currency because anything that people start trading too frequently slowly becomes a currency without even getting the legal status.

[ultrloa]

Known as crypto currency many do not consider it an asset yet in many places no one knows about the use of crypto. In this case it is in high demand in the crypto world and investors consider it an asset. Wealth is usually an asset or a plan for the future crypto is a very good currency for the future. It is possible to earn double profit if the price goes up by investing but it requires patience.

looking for double value will only lead you to losses mate because the crypto is volatile and anything change in a matter of hour.

Crypto is depend on how we treat this like me.

I rather call it asset than a currency because i tend each coins i have to Holds till and wait for the price to move up before selling it.

In this case it become a asset and not actually a currency.

Losses will occur if you enter on bad market state but if the situation is good and bull run is happening then provably you can earn double with it, the huge run happen on year 2017 so possibly we can earn double or even more if this scenario will happen again.

But crypto is both a currency and asset since we can use it on various way.

You can read some sort of explanation on this website https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2736020(Just read don't download anything)

[Wapfika]

Due to decentralization, people think its not an asset. Bitcoin has much potential and its price is unstable.
Most people think its a scam because its price can never be stable and that's why they don't count it as an asset.
They're less educated, I believe in bitcoins and its assets for me. No matter who thinks negatively about bitcoin I will always here to support it.

Those who know how to invest will see it as an asset, actually those who never invest in stocks or do business didn't know what an asset really is as they based on actual things or materials that may lose their value in a long run or they are those who only focus on real estate as their investments.

[Viscore]

I have not to blame them either and we can't push them to believe of what we believed. I think they are right if they are talking about safety assets because we know that crypto can't have such a thing (safety assurance). This will hold them not to consider crypto as an asset but they are using this just like a commodity where they can make a trade, use to buy stuff, and a currency instead. That is what they understand and probably they are right.