Is bitcoin an asset or a currency?

[mindrust]

Why not both? Bitcoin is an asset and a currency. For many people it is a bad currency because it is not as fast as credit cards but it is a good asset because it has been going up since its creation. USD is an asset too because FIAT is an asset. USD is a bad asset because it loses its value over time but it is a good currency because it is fast. (and anonymous when you pay with physical bills)

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[Minor Miner]

For me I will go with my other friend who said bitcoin can serve both purposes which depends on two major factors:

• Your country
• You as an individual

Exactly, though it has characteristics of currency, and you can use bitcoin as a payment method but it varies from country to country, In some countries, products cannot be purchased with Bitcoin or Bitcoin is not accepted as a payment method. So in these countries Bitcoin will only act as an asset because they cannot use it as a currency. Many countries have Bitcoin ATM booths and they support credit cards, in which case they can use Bitcoin as currency and assets.

[2double0]

I don't think it can be a country based discussion because legalizing bitcoins will only give it acceptance as an asset due to high volatility in its value and no long term stability available. It can be used as a way to pay but cannot be considered as a currency paid, as the price still keeps fluctuating during the gap of time till btc transaction gets confirmed. So whether low or high in value after transaction is done, bitcoin will be overlooked as a currency for being unstable due to illiquidity.

[BITCOIN4X]

Exactly, though it has characteristics of currency, and you can use bitcoin as a payment method but it varies from country to country, In some countries, products cannot be purchased with Bitcoin or Bitcoin is not accepted as a payment method. So in these countries Bitcoin will only act as an asset because they cannot use it as a currency. Many countries have Bitcoin ATM booths and they support credit cards, in which case they can use Bitcoin as currency and assets.

My country doesn't allow me to use bitcoin as currency, but my friend accept bitcoin as a mean of payment. LOL

You all probably already know that Indonesia does not legalize bitcoin as a legal tender because we have laws that must be obeyed. Basically we can only use bitcoin as a tradable asset on any exchange and not limited to decentralized or centralized exchanges. But some people may secretly continue to use it as a mean of payment because the government and its regulation may never detect it.

[Zanab247]

I guess bitcoin is a currency to those countries that made it legalized in their country. Since their citizens can use bitcoin to buy what ever they want in the country is generally know to them as a currency. It can be use to pay children school fees, children Christmas and new year clothes and it can also be use to buy cars, build houses and so many things in the country.
Bitcoin stand as a currency to those countries that believe the reason why it was created in the world. It can be use to purchase any type of goods in the community because it is generally accepted in that particular country that made it legalized.

[jinneas]

Bitcoin can exist as currency and asset at the same time. Depending on the attitude of each country towards cryptocurrency, when the country in which it is located believes that Bitcoin is legal, it can be used as a currency for payment in daily life.
The characteristics of Bitcoin price fluctuations and changes, many people will also use it as an asset investment, when its price rises, the holder will get more profits from it.

[Brus123]

I consider Bitcoin to be rather an asset than a currency. It can't be used as a means of payment in my country so far, so I can only invest in Bitcoin without an opportunity to buy something with it, so I take it as an investment tool for passive income in the long-term. On the other hand, when Bitcoin will be accepted more widely, I think I will take it as a currency as well.

[Hippocrypto]

Bitcoin's intended purpose is as a medium of exchange but it may also be used as an asset and investment. We find Bitcoin return properties are very different from traditional asset classes and thus offer great diversification benefits. Bitcoin can exist as currency and asset at the same time. Depending on the attitude of each country towards cryptocurrency, when the country in which it is located believes that Bitcoin is legal, it can be used as a currency for payment in daily life. Bitcoin is very profitable but also dangerous if you are not careful.

[romero121]

Bitcoin have got multiple usage. Most of the countries have regulated the usage. Governments haven't allowed it to be used as a legal tender. This makes bitcoin more of an investment, asset than currency. Countries like El Salvador have considered bitcoin a legal tender. As it is a small country and it hasn't got its own national currency, the decision from the government is making a big change in their economy.

The adoption level of bitcoin have increased with time. Maybe when majority of the countries start accepting bitcoin we'll see it's major usage as currency.

[karanggatak]

yeah, in my country they allow just for fiat currency to making transaction, they never allow the other fiat or cryptocurrency use as payment method. this can make country strong, like no one can use the other thing except this one.
and people will making transaction quietly, not to break the rules, sometimes they want to try, or they just have crypto. but mostly people will keep what they have, because crypto is to valuable here.

[ropyu1978]

I think bitcoin is an asset but it is not in the form of a currency because the use used in the world of bitcoin is in the form of a digital transaction, so we can say that it is in the form of currency circulating among the public.but bitcoin is also almost the same as currency in general. because of this we can also do a transaction in various forms of digital currency investment

[Anonylz]

"A currency in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, especially for people in a nation. Wikipedia"

According to Wikipedia, I think the definition above about a currency somehow explains btc to some extent, it may not be widely accepted as the real fiat currency but it is getting accepted in some places, so I believe it is safe to consider btc as a currency.

[Ebede]

"A currency in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, especially for people in a nation. Wikipedia"

According to Wikipedia, I think the definition above about a currency somehow explains btc to some extent, it may not be widely accepted as the real fiat currency but it is getting accepted in some places, so I believe it is safe to consider btc as a currency.

Without been informed bitcoin is currency but only thing that differentiate it from other currency is that is a digital currency and i believe that and you can not see it physically with naked eyes like fiat currency, which i believe recently that you can use bitcoin to purchase anything you want or like to buy without problem if your patterner in business agree with your method of payment, most of the countries as i speak with you is working with the bitcoin industry of infrastructure now using it as currency.

[rizqoAD]

In my country Bitcoin can only serve as a valuable asset, but if I use Bitcoin as a medium of exchange, I can use it in the name of mutual agreement between the buyer and seller but there is still very little in my country. Of course, the definition of Bitcoin as a currency or a valuable asset depends on the regulations in force in a country, although Bitcoin can actually function as both. In my personal opinion, Bitcoin is more profitable to be used as a valuable asset or traded on a crypto exchange because it is more profitable and can be used as a business and investment in the digital era like now.

[ropyu1978]

bitcoin is an asset and is not in the form of currency but we can use it for an investment and we can liquidate it into cash, bitcoin is an asset that we can store for a long time with an exchange rate that may change from time to time. time and we cannot predict the rise and fall of bitcoin for a long time, therefore bitcoin is said to be an asset that we can keep as a form of investment

[Siboy]

jelas itu aset dan uang mata digital dunia,,bagi saya sangat mempengaruh bagi ekonomi suatu negara atau per pribadi tergantung aset di beli atau mata uang yang dia inves di cypto tertentu

[Hippocrypto]

bitcoin is an asset and is not in the form of currency but we can use it for an investment and we can liquidate it into cash, bitcoin is an asset that we can store for a long time with an exchange rate that may change from time to time. time and we cannot predict the rise and fall of bitcoin for a long time, therefore bitcoin is said to be an asset that we can keep as a form of investment

Indeed. Without a stable value Bitcoin cannot truly be a currency. Rather it is a commodity asset that one trades, like gold or silver, in hopes that its value will rise and yield a trading profit. Bitcoin's intended purpose is as a medium of exchange but it may also be used as an asset and investment. But if you'll think deeper, Bitcoin can be both.

[BuNga_cute]

I consider Bitcoin to be rather an asset than a currency. It can't be used as a means of payment in my country so far, so I can only invest in Bitcoin without an opportunity to buy something with it, so I take it as an investment tool for passive income in the long-term. On the other hand, when Bitcoin will be accepted more widely, I think I will take it as a currency as well.

Most countries in the world still prohibit Bitcoin as a means of payment, therefore most people think of Bitcoin as an asset. Only a few countries allow
residents to use Bitcoin as a currency, there are even countries that prohibit the use of Bitcoin in any form. So don't be disappointed if we live in a country
that prohibits using Bitcoin as a means of payment. Because so far Bitcoin is more beneficial when we use it as an asset, that way we can make a lot of
money from Bitcoin. Therefore I also live in a country that prohibits using Bitcoin as a means of payment, but I am grateful that I can still use Bitcoin
as an asset. Even though Bitcoin was created by Satoshi Nakamoto as a currency like fiat, but indeed the government is too worried that Bitcoin will
replace fiat, so it only allows Bitcoin to be used as a digital asset. Hopefully in the future, what the government of El Salvador is doing by legalizing Bitcoin
as a legal tender can be followed by other countries. So many people will be able to use Bitcoin as a currency.

[Farma]

Why not both? Bitcoin is an asset and a currency. For many people it is a bad currency because it is not as fast as credit cards but it is a good asset because it has been going up since its creation. USD is an asset too because FIAT is an asset. USD is a bad asset because it loses its value over time but it is a good currency because it is fast. (and anonymous when you pay with physical bills)

think that both are things that should and can be common. countries that support bitcoin consider bitcoin as a means of payment as well as an investment tool. choosing between the two will only confuse us.
Personally, until recently I used it as an asset because the price was very high and I plan to stock it in large quantities if the opportunity arises. however, I consider it both if universally

[ReiMomo]

Why not both? Bitcoin is an asset and a currency. For many people it is a bad currency because it is not as fast as credit cards but it is a good asset because it has been going up since its creation. USD is an asset too because FIAT is an asset. USD is a bad asset because it loses its value over time but it is a good currency because it is fast. (and anonymous when you pay with physical bills)

think that both are things that should and can be common. countries that support bitcoin consider bitcoin as a means of payment as well as an investment tool. choosing between the two will only confuse us.
Personally, until recently I used it as an asset because the price was very high and I plan to stock it in large quantities if the opportunity arises. however, I consider it both if universally

I had the same question as Why not both? Its considered as both. Yes those who hold it for a long term, its turned as asset and the waiting period is going to yield a huge profit as Bitcoin is move forward. And yes obviously its a currency. Its utilized as a currency as of now. Unlike other assets like gold, silver, platinum, diamond and land, Bitcoin and other crypto currencies have unique feature to be as an asset and as a currency.