Bitcoin is an asset.

[LogitechMouse]

It's recently i know about Bitcoin and since i have noticed the important and kind of asset Bitcoin is , i have embrace Bitcoin to the fullest after making research of Bitcoin, a property was shared for me and i decided to sell half of the property to invest in Bitcoin, i have sold the property and i have decided to take the risk to invest for long term for Bitcoin after i notice that Bitcoin is an asset. The deal of investing my property money in Bitcoin has been done already.

Well, that might be the stupidest thing that you can ever done, but hey... it's your money, it's your property, and as long as you're ready for the possible risks and consequences that you might face then there's nothing wrong with it. If I were you, I will not sell my property just to buy Bitcoin. I hope that you will not regret making that decision because many did regret selling other things to buy Bitcoin. The problem with them is that they entered at a wrong time while in your case, Bitcoin is still in the process of recovery, and we are not yet still in a bull run.

Re: Bitcoin is an asset.

Bitcoin has been a currency every since. It's just that, because of it has the same feature as other assets out there like the Stock Market, and other precious metal which is volatile thus, some of the investors characterized Bitcoin as an asset. As for me, I think it's safe to say that Bitcoin can be both an asset and an currency right?

[Sebas.tian]

Bitcoin is a potential asset you can invest your money and it will bring you double income, if you apply long term holding which is one of the advantage many investors used to maintain success in their investment. Bitcoin is very popular in my country, because the information has been circulated around the country despite is not yet legal tender but many youths know how important it is to humanity to become a somebody in the future. I think, you made a good decision by investing the half of your properties on Bitcoin because the green light is preparing to remain stable for the price to hit $30,000 next month.

[crunck]

Bitcoin is a potential asset you can invest your money and it will bring you double income, if you apply long term holding which is one of the advantage many investors used to maintain success in their investment. Bitcoin is very popular in my country, because the information has been circulated around the country despite is not yet legal tender but many youths know how important it is to humanity to become a somebody in the future. I think, you made a good decision by investing the half of your properties on Bitcoin because the green light is preparing to remain stable for the price to hit $30,000 next month.

I agree with the potential as well as the rewards that bitcoin can bring us, but I don't see you talking about the risks of investing in bitcoin. Don't forget that the higher the return, the higher the risk. Investing in bitcoin can be very profitable but can lose you 50% of your assets if you don't know how to invest. The percentage of those who make a profit in this market is much lower than that of the losers.

[DevilSlayer]

The only people who consider Bitcoin as an asset are those who believe that the value given to it by markets/speculation is so significant that it should be considered one. In reality, it does not work like an asset. Your car is an asset. You can not instantly transfer your car to someone overseas. Your car can not change hands with 10 people in a matter of 1 day. Similarly, your fiat in the bank is not an asset. It is not something you aim to store for a long period of time without touching it. Yes, it fluctuates with the price of other competing currencies, but does that make it an asset? You make the money in your bank ultimately to spend it on things like assets. Bitcoin is the same. Eventually, you will probably use Bitcoin to pay for your groceries, assets like cars, appliances, etc., give your kids an allowance and so on.

Bitcoin is a currency and its price is only volatile due to market speculation and instability of fiat currency

I know that the point of the OP isn't to start the asset/currency debate. Though I've replied in this way because calling Bitcoin an asset is wrong.

In my opinion, bitcoin is an asset, a currency, a safe haven like gold… it all depends on how you use it. When you use it as a payment method, pay bills, or buy goods, it's currency; when you use it for profit, it's an investment; when banks keep failing, and you need an alternative, it's a safe haven. Bitcoin is all you want, Bitcoin is not just a currency or an asset. OP is not wrong to call it an asset, and you are not wrong to consider it a currency either.

You cannot call it as a "safehaven" like gold because bitcoin has volatility that cannot be compared to other assets. Safehaven is a term that defines a security, which means that your money or the value is safe in any given situations. Remember that there are situations in the cryptocurrency market that is considered as really bad and those times a lot of coin are keep dumping and for me it is the reason why you cannot call it a safehaven. For me, bitcoin is an asset that can potentially help you to achieve financial freedom. I really mention the word "potentially" because there are no certainty in this high volatile market.

Potentially means that you can only make money if you understand the basic price patters, how it works, the foundation and also basic knowledge not only about bitcoin but also about technical analysis. When you have these kind of skills, you can potential make money that can help you to be financially stable.

[yudi09]

-snip-

Selling your property or anything else to invest in cryptocurrencies is not a good option even though I recognize Bitcoin as a future investment asset. Behind the passion that you are feeling, try to relax for a moment and catch your breath then try to think about the risks behind investing that will be obtained. I do not prohibit you from investing in Bitcoin, but prospective successful investors do not do what you do in starting their success journey.

[yohananaomi]

-snip-

Selling your property or anything else to invest in cryptocurrencies is not a good option even though I recognize Bitcoin as a future investment asset. Behind the passion that you are feeling, try to relax for a moment and catch your breath then try to think about the risks behind investing that will be obtained. I do not prohibit you from investing in Bitcoin, but prospective successful investors do not do what you do in starting their success journey.

not a few do things like you say, because it has been revealed that investing in bitcoin is very profitable. but sometimes the behavior that is carried out is wrong and not long-term, if the property being sold is a property which is also an investment, of course it is legal, because it transfers from one investment to another.
but if the property being sold is one that has been used as a residence so far, this is clearly not good. because by selling it will rent for a place to live and obviously this is the wrong thing.
Bitcoin investment is obviously good, but don't use assets that are really needed for the movement of daily life, because you can use another and there is always an opportunity to do that.

[RockBell]

One important fact about bitcoin that many people overlook is the fact that it is an asset. By understanding the asset's functionality prior to investing, you can make a decision that is justified and aware of the risk involved. You can also be certain that when the time is right, you will make a profit because your decision has already been made, as opposed to those who don't even understand the value of bitcoin and simply buy when the price is in their low and end up selling  everything eventually and if you study the price chart of bitcoin  from 2013 till 2021 you  will know that investing  in bitcoin  is one of the coolest idea  when bull run starts.

[Wakate]

If Bitcoin is an asset, digital asset, will I have to pay tax by having it in my asset portfolio?

I guess I only have to pay tax if I sell it.

Do I pass it to my children or grandchildren as inherited asset?

Bitcoin is an asset and it depends on how we want it. It is both a currency and asset at the same time. We can buy Bitcoin and hold it for a long time and the value is going to appreciate unlike fiat that it value does not appreciate. Fiat is very stable that is why many persons will always choose to buy Bitcoin and hold it as long as possible. Bitcoin can appreciate or depreciate in value even in seconds. As an investor and a trader, I like investing in volatile projects so that the changes in price can give me good profits if I play my game very well.

[gunhell16]

If Bitcoin is an asset, digital asset, will I have to pay tax by having it in my asset portfolio?

I guess I only have to pay tax if I sell it.

Do I pass it to my children or grandchildren as inherited asset?

Bitcoin is an asset and it depends on how we want it. It is both a currency and asset at the same time. We can buy Bitcoin and hold it for a long time and the value is going to appreciate unlike fiat that it value does not appreciate. Fiat is very stable that is why many persons will always choose to buy Bitcoin and hold it as long as possible. Bitcoin can appreciate or depreciate in value even in seconds. As an investor and a trader, I like investing in volatile projects so that the changes in price can give me good profits if I play my game very well.

If Bitcoin is an asset, digital asset, will I have to pay tax by having it in my asset portfolio?

I guess I only have to pay tax if I sell it.

Do I pass it to my children or grandchildren as inherited asset?

Bitcoin is an asset and it depends on how we want it. It is both a currency and asset at the same time. We can buy Bitcoin and hold it for a long time and the value is going to appreciate unlike fiat that it value does not appreciate. Fiat is very stable that is why many persons will always choose to buy Bitcoin and hold it as long as possible. Bitcoin can appreciate or depreciate in value even in seconds. As an investor and a trader, I like investing in volatile projects so that the changes in price can give me good profits if I play my game very well.

Whatever the reason why bitcoin was invented, that's all there is to it and it can't go beyond that.

And the dominance of bitcoin has not harmed everyone, but instead has helped not only the economy of other countries that have recognized it but also the various individuals who have also believed in it. Then the question is a bit unrealistic at this time.

[adzino]

It's recently i know about Bitcoin and since i have noticed the important and kind of asset Bitcoin is , i have embrace Bitcoin to the fullest after making research of Bitcoin, a property was shared for me and i decided to sell half of the property to invest in Bitcoin, i have sold the property and i have decided to take the risk to invest for long term for Bitcoin after i notice that Bitcoin is an asset. The deal of investing my property money in Bitcoin has been done already.

But when i discussed the information of Bitcoin with my father and he said if i have seen someone who has benefited in Bitcoin, i responded that i have not seen with my eye anyone that is a Bitcoin beneficiary, but after reading the technology of Bitcoin and i noticed that it's an asset and people do invest on Bitcoin and make profit and i decided to sell part of the portion of my land to invest in Bitcoin for long term.

With the Passion i have on Bitcoin i do think that we are supposed to ensure that people have known what's Bitcoin in our various societies, and i have decided to teach both mother's and father's and youths of Bitcoin after i have understand it very well. The place I'm i don't think five twenty percent knows what's Bitcoin. So i have discovered that Bitcoin is an asset and the information most be shared to my friends who don't about it.

it's great that you've realized the importance and potential of Bitcoin as an asset and decided to jump in and give it a try. But just remember that, like any other investment, there are risks involved. Be ready for market ups and downs (and downs that can last for months or years) and make sure to diversify your investments to reduce potential losses. It's nice that you want to spread the word about Bitcoin among others. Teaching people about crypto can help them get a better understanding of crypto currencies which will make them a little more confident when trying to invest in bitcoin. Just remind them to do their own research, understand the tech, and invest responsibly.

[Iranus]

One important fact about bitcoin that many people overlook is the fact that it is an asset. By understanding the asset's functionality prior to investing, you can make a decision that is justified and aware of the risk involved. You can also be certain that when the time is right, you will make a profit because your decision has already been made, as opposed to those who don't even understand the value of bitcoin and simply buy when the price is in their low and end up selling  everything eventually and if you study the price chart of bitcoin  from 2013 till 2021 you  will know that investing  in bitcoin  is one of the coolest idea  when bull run starts.

No, we are all looking at bitcoin as an investment asset, and we have overlooked the important fact that bitcoin was originally created as a currency, not an asset for speculation. I believe many later participants do not know the real purpose of bitcoin because now when mentioning bitcoin, people will immediately think of investment. But whether you consider it a currency or an asset, all is true, as long as it brings value and benefits to you, bitcoin is helping us in one way or another.

[speedy963]

The only people who consider Bitcoin as an asset are those who believe that the value given to it by markets/speculation is so significant that it should be considered one. In reality, it does not work like an asset. Your car is an asset. You can not instantly transfer your car to someone overseas. Your car can not change hands with 10 people in a matter of 1 day. Similarly, your fiat in the bank is not an asset. It is not something you aim to store for a long period of time without touching it. Yes, it fluctuates with the price of other competing currencies, but does that make it an asset? You make the money in your bank ultimately to spend it on things like assets. Bitcoin is the same. Eventually, you will probably use Bitcoin to pay for your groceries, assets like cars, appliances, etc., give your kids an allowance and so on.

Bitcoin is a currency and its price is only volatile due to market speculation and instability of fiat currency

I know that the point of the OP isn't to start the asset/currency debate. Though I've replied in this way because calling Bitcoin an asset is wrong.

In my opinion, bitcoin is an asset, a currency, a safe haven like gold… it all depends on how you use it. When you use it as a payment method, pay bills, or buy goods, it's currency; when you use it for profit, it's an investment; when banks keep failing, and you need an alternative, it's a safe haven. Bitcoin is all you want, Bitcoin is not just a currency or an asset. OP is not wrong to call it an asset, and you are not wrong to consider it a currency either.

You cannot call it as a "safehaven" like gold because bitcoin has volatility that cannot be compared to other assets. Safehaven is a term that defines a security, which means that your money or the value is safe in any given situations. Remember that there are situations in the cryptocurrency market that is considered as really bad and those times a lot of coin are keep dumping and for me it is the reason why you cannot call it a safehaven. For me, bitcoin is an asset that can potentially help you to achieve financial freedom. I really mention the word "potentially" because there are no certainty in this high volatile market.

Potentially means that you can only make money if you understand the basic price patters, how it works, the foundation and also basic knowledge not only about bitcoin but also about technical analysis. When you have these kind of skills, you can potential make money that can help you to be financially stable.

It's a given that he thinks this way since the OP is still at the beginning of his journey in Bitcoin, once he has enough knowledge, for sure he won't be contented sitting around waiting for the next turn. I am sure he will find another way to increase his income or maybe he will find something for him to start practicing the things that he learned so far such as what you've said "technical analysis".

I won't judge the OP by his decision on selling his property for the sake of a volatile investment because it's his choice, but just like you do, I wont consider bitcoin as a "safe haven" just like what he sold in exchange for high volatility asset.

[LastKiss]

~snip~
With the Passion i have on Bitcoin i do think that we are supposed to ensure that people have known what's Bitcoin in our various societies, and i have decided to teach both mother's and father's and youths of Bitcoin after i have understand it very well. The place I'm i don't think five twenty percent knows what's Bitcoin. So i have discovered that Bitcoin is an asset and the information most be shared to my friends who don't about it.

Well in my place Bitcoin is not a legal currency as a payment but as an investment or an asset it's legal to have Bitcoin. Many people already know about Bitcoin and many of them invest in there but not a few of them is supporting Bitcoin, maybe when they join crypto they fall to the scammer trap and lose their money there and call crypto is a scam especially Bitcoin.

[ethereumhunter]

Bitcoin is an asset. But not many people want to use bitcoin as an investment because they are used to using other types of investment. But if you sell part of your land to invest in bitcoin, I don't think that's a wise reason because at least land is also part of that asset and investment. Land prices could go up a lot in the next few years although bitcoin prices could also go up.

But it's up to you because the decision is in your hands. But the important thing is that you realize that investing in anything has risks and you have to accept that risks.

[Z-tight]

Another one, this time op sold his property to invest in BTC, all these stories of i sold x to invest in BTC or i have done x to promote BTC does not really age well in the forum anymore, people who post it do it without attaching any proof to it, and sometimes what they attach is easy to fake. I'm not asking anyone to doxx themselves, but it is just hard to believe any of these stories anymore.

OP you found out about BTC not too long ago, and you already claim to be selling part of your property to invest in it, i will not do that if i were you and it is not the correct way to buy or invest in BTC. Before buying BTC you must have understood basic things about it, like invest only what you can afford to lose, and selling properties or taking loans isn't a correct method of investing, you must have also understood how to hold it, and i hope you do, i can't imagine someone selling their property to buy BTC only to store it in a binance wallet.

[QueenVera]

But when i discussed the information of Bitcoin with my father and he said if i have seen someone who has benefited in Bitcoin, i responded that i have not seen with my eye anyone that is a Bitcoin beneficiary, but after reading the technology of Bitcoin and i noticed that it's an asset and people do invest on Bitcoin and make profit and i decided to sell part of the portion of my land to invest in Bitcoin for long term.

Bitcoin been an asset is as the benefits of the limited supply that Bitcoin has, also the exciting factors that comes from speculating on the price of Bitcoin through trading makes it a perfect investment opportunity and if you have some spare money you can buy and hold for the future. Although it's encouraging for people to invest in Bitcoin but don't over invest.
Lands are valuable assets, it mightn't be growing as fast as Bitcoin is growing but you can always be sure that a landed property that you own will always appreciate in price over time. What if that area you own that land becomes a hot area in the future and selling for millions due to development coming into that area, always hold on to your land.
Bitcoin is a very volatile assets that can make you rich today but broke tomorrow if you panic and sell when the market is crashing. I just hope you will have the patience to allow your investment mature.

[YUriy1991]

Regarding the tax implications of Bitcoin as a digital asset. In general, the answer to your question depends on your country's tax laws and regulations regarding the taxation of digital assets. Yes, if Bitcoin is considered an asset in your country, you may be required to pay taxes on any increase in value while it's in your portfolio. This is known as capital gains tax.

However, you typically only need to pay taxes when you sell the asset, not when you hold it. As for passing Bitcoin to your heirs, inheritance laws vary by country, but in general, yes, you can pass it on as an inherited asset. Your heirs may also be subject to taxes when they sell or transfer the Bitcoin.

[Oasisman]

Bitcoin is an asset. But not many people want to use bitcoin as an investment because they are used to using other types of investment. But if you sell part of your land to invest in bitcoin, I don't think that's a wise reason because at least land is also part of that asset and investment. Land prices could go up a lot in the next few years although bitcoin prices could also go up.

But it's up to you because the decision is in your hands. But the important thing is that you realize that investing in anything has risks and you have to accept that risks.

Selling part of your land maybe a not so wise decision, but that money could multiply in the next 3-5 years, while that portion of your land may only get a few percentage of increase compared to what you'll get when you sell your Bitcoin at the new ATH.
But, it's still wiser if you're not gonna sell all your land properties as lands always have value that will appreciate as time passes by.  That's one way of diversifying your investments.

[Z390]

It is stupid to sell your property for Bitcoin unless you are a very rich man that has many properties, there have been so mamy stories about people that lost everything to assets before, Bitcoin is not a guaranteed investment, so every investor still needs to be careful when investing in Bitcoin, invest only what you can afford to lose because when losses comes it won't be life threatening.

[FanEagle]

It seems a big deal for you after knowing that bitcoin is an asset but I think you already know this even at the start because why would you sell your land and then say that "you will invest" in Bitcoin? We only invest on something that is considered as an asset.

I bet you already know that Bitcoin is also a currency and this is its primary use so you should also introduce this functionality after discussing to your colleagues and mates that Bitcoin is an asset. Thanks for spreading the word Bitcoin in your place. We so much appreciate it. You're doing that either to help Bitcoin became more popular and you can get more profit or you are just not selfish but you also want to share the good news to others.