Bitcoin IS an asset. Do you think it's bad?

[crypticj]

Hello everyone.

Lately, I've been talking with a lot of people on this forum and before that, I really thought that most people here treat Bitcoin as a technology that gives us freedom and represents ideas of satoshi, but I realized that everyone I talked to treat it just like an asset to invest in.

I don't want to say that it's bad, it's just surprising me. I created a thread where I asked if people think that Bitcoin will become stable enough to become a new currency cos I thought it was the whole idea, but everyone was telling me that it will always fluctuate and it's just a method to earn money.

What do you guys think about that? Do you think it's okay that we as a community treat Bitcoin as an asset and not as a technology that should be used to give people freedom from the banks?

Personally, I think that Bitcoin is a great asset, but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

[cryptoaddictchie]

What do you guys think about that? Do you think it's okay that we as a community treat Bitcoin as an asset and not as a technology that should be used to give people freedom from the banks?

Why not both? Its quite bias that you talked to people and thats what they answered. Its best that youved asked here since many could voice out what they think. But for me, it signify as an asset for now and store of value since Im not using it on my daily needs or transaction. Maybe if bitcoin adopted more it could be a useful for everyone and establishments already recognize that to use on their stores, shops, restaurant. But I think a long way to go to be global yet. But some already using it for that purpose already.

[kaseygriffin]

Personally, I think that Bitcoin is a great asset, but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

You may be thinking wrong, because what I am feeling in the crypto market as well as bitcoin is showing a lot of different nuances from technology to finance. In essence, it is still itself, the features or limitations are up to us to judge for ourselves, and it is not uncommon for someone to see only limited issues to discuss or vice versa. about the positive rhyme that will help. I personally see that bitcoin has changed a lot and to this day looking at how new people learn about it and people who have been involved for a long time have completely different views, over time I Can imagine some things changing and bitcoin will also be received the way things are.

[livingfree]

It's not new. We've been treating Bitcoin as one of the greatest asset and store of value. So, that's something we've been doing already and the technology is Blockchain itself.

but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

Well, that's also why devs have seen the opportunity so they make their own tokens and coins for it to be traded. They've seen that they can take advantage of the situation and it's not just Bitcoin that shall enjoy all of these attention coming from being a great and liquid asset to becoming a piece of technology that's been all-in-one payment method.

[retreat]

Hello everyone.

Lately, I've been talking with a lot of people on this forum and before that, I really thought that most people here treat Bitcoin as a technology that gives us freedom and represents ideas of satoshi, but I realized that everyone I talked to treat it just like an asset to invest in.

-snip-

Depending on how you look at it, you could actually think of Bitcoin as an asset, an investment, a technology, an innovation, a payment system, even a movement against a centralized financial system, and it's all true. Bitcoin is too narrow if we compartmentalize it in one "term" which can be much broader if we can see it from various perspectives. So whatever people see it, whether it's as an asset or investment or a movement, just let it be like that because Satoshi created Bitcoin not only as a digital asset, but more than that.

[tranthidung]

most people here treat Bitcoin as a technology that gives us freedom and represents ideas of satoshi

• Satoshi, not satoshi. You can use Satoshi as a short name calling for Satoshi Nakamoto, the founder of Bitcoin.
• satoshi is a Bitcoin unit. Bitcoin Table of Units.
• Don't misuse two words.

Bitcoin is not a technology. It is a product from blockchain technology.

I realized that everyone I talked to treat it just like an asset to invest in.

people think that Bitcoin will become stable enough to become a new currency

not as a technology that should be used to give people freedom from the banks?

People can use bitcoin differently. Some will use it as an asset. Some will use it as a currency, a payment method. Some will use it as a tool for trading on cryptocurrency market. Some will use it as a mean for their scam.

Freedom, yes Bitcoin and its decentralized network, its non custodial wallets already give us enough freedom and free from banks.

If you have your Bitcoin private keys, you have your own banks and freedom technically and financially.

[mk4]

To make it more simple and probably easier to understand, you can look at it this way.

Bitcoin (with a capital B) = the technology, the network
bitcoin (with a small b) = the investment, the currency, the asset, etc

It's somewhat a naming convention flaw that makes it a bit confusing for the uninformed.

[stompix]

Bitcoin is a piece of code, you can use that to what, is what you want it to be!

I said it numerous times, just like this:

My point also, and this is one thing I love about it, is that anyone can use it the way it wants, and not just based on some whitepaper, you want to buy 0.1BTC and wait till you can buy a Ferrari with it, go ahead, you want to hide some of your money cause you think your wife is cheating and might run away, do it, you want to buy something from Irak but no bank will let you send money, that's your choice! Go!

You can transfer value, you can hide value, can store value, can increase value (through trade), use it how you like it.

And more importantly probably that this is another thing:
Just as you are not required to explain why you're using Bitcoin, you shouldn't question somebody else on what he's doing either.
Your keys your coins, his keys, his coins, his decision!

I don't want to say that it's bad, it's just surprising me. I created a thread where I asked if people think that Bitcoin will become stable enough to become a new currency cos I thought it was the whole idea, but everyone was telling me that it will always fluctuate and it's just a method to earn money.

Show me one thing humans invested in and hasn't been turned at least once in its history into a money-making business.
From war to religion, VPNs to car sharing, Bitcoin to jpg monkeys!

[tranthidung]

To make it more simple and probably easier to understand, you can look at it this way.

Bitcoin (with a capital B) = the technology, the network
bitcoin (with a small b) = the investment, the currency, the asset, etc

It's somewhat a naming convention flaw that makes it a bit confusing for the uninformed.

Nice point.

If anyone does not know their differences, Pmalek has Do you know the difference between Bitcoin and bitcoin?.

Honesly I did not know about the differences years ago and that thread is useful for newbies.  

With bitcoin, we can also use its symbol BTC

Code:

[btc]

[macson]

Lately, I've been talking with a lot of people on this forum and before that, I really thought that most people here treat Bitcoin as a technology that gives us freedom and represents ideas of satoshi, but I realized that everyone I talked to treat it just like an asset to invest in.

at first, you are a little mistaken about what bitcoin is, bitcoin uses blockchain technology, which means bitcoin is not technology but blockchain is the technology.

I don't want to say that it's bad, it's just surprising me. I created a thread where I asked if people think that Bitcoin will become stable enough to become a new currency cos I thought it was the whole idea, but everyone was telling me that it will always fluctuate and it's just a method to earn money.

bitcoin the value will never be stable, and that is what distinguishes bitcoin from fiat, in the cryptocurrency market there are lots of stablecoins scattered, bitcoin must retain its properties at any time, and turn into a stablecoin, that is a joke.

What do you guys think about that? Do you think it's okay that we as a community treat Bitcoin as an asset and not as a technology that should be used to give people freedom from the banks?

Personally, I think that Bitcoin is a great asset, but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

you are free to think of bitcoin as whatever it is, just as many countries make bitcoin a commodity asset, that's normal imo.

[Z-tight]

Personally, I think that Bitcoin is a great asset, but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

There is no method of using BTC that is bad, and in all of them you are using the network, technology and the currency. BTC is censorship resistant, you can't censor people or tell them what to do with their BTC's. BTC is permissionless, people do not need permission from you to use BTC for any reason and purpose; it is a free market. Trying to tell people what to do with their BTC's is almost like censorship, because if you use fiat you can be censored by the government or bank, they can freeze your account and stop you from spending, or give you a limit, but when people choose BTC it is because they want to use their coins how they like.

[Nrcewker]

You are asking people in a Bitcoin forum that whether they consider Bitcoins as bad? My friend we love Bitcoins. How can we say against it ? We have seen Bitcoins growing from nothing to becoming the high demand asset. Bitcoins have proved how worthy it is. Yes people consider Bitcoins as an asset. Unlike any other asset, the price of the coin also goes up and sometimes down. But that doesn’t mean that Bitcoins are bad. You have to live with it, and get use to this price fluctuations.

[Kemarit]

Depends, the initially designed was to used it as a payment scheme, we even have    
Pizza for bitcoins? to proved it.

But as time goes by, exchanges where established, Mt. Gox became famous or shall I say infamous. And as time goes by, $0.1 price in the beginning becomes $69,000, last all time high.

So it really up to the individuals on how they are going to treat it, be sound money or investments or speculated assets or Store of Value.

[Outhue]

Isn't that wonderful that bitcoin is an asset that investors can invest their money on and make a lot of money doing so in time? and at the same times it is good for those who are looking for a way to get out of centralised manipulation and control

Bitcoin gives the freedom to the people who have less power to be in control of their money this is two in one feature from bitcoin alone and to me this make it an outstanding piece of technology.

If I were you I will not bother to dictate between choosing freedom or an investment assets since bitcoin is capable of offering these two features I will just go ahead with it and be satisfied with it at the same time, I like the freedom and the investment side of Bitcoin. You are free to accept Bitcoin the way you want, either for investment purposes or for getting out of centralized manipulation it is your call and everyone is free to do what they like.

[landheer]

Bitcoin certainly has many uses, one of which can be used as a short-term or long-term investment asset, and we can also use bitcoin as a digital currency.

indeed the price of btc always fluctuates, but with fluctuations of course in my opinion it does not hinder payment transactions, but with the condition that you must know the risks of using the btc payment method.
so payments using btc can of course be done as long as it is done with
volunteer and know the risks.

[Obari]

What do you guys think about that? Do you think it's okay that we as a community treat Bitcoin as an asset and not as a technology that should be used to give people freedom from the banks?

Personally I've always been on the supporting side that bitcoin is more of an asset than any other thing people might want to think of it.
Yes bitcoin  is already severing different  purposes and I don't see any call for concern and one thing that .amen bitcoin  and cryptocurrency in general more interesting is the volatility in its prices which makes some people happy(profit) and the others sad(loss) and I've always known that the profits comes from the losses of others.

I stand that bitcoin should be more of asset and whoever is coming to the industry should play smart and stay in profits than being the prey and staying in losses.

[naira]

Personally, I think that Bitcoin is a great asset, but it's strange to think that crypto just becomes a new stock market where people follow hype and money, and not technology and progress.

Regarding how each investor views Bitcoin, in my opinion, it doesn't matter, because while they believe in Bitcoin, it's far more than enough. I mean because it's basically a multi-purpose cause whether it's good investment advice, or making it a supported currency like El Salvador then Bitcoin adoption is what it should be.
So you don't need to get dizzy or confused, the fact is that one truth can be defined in various ways. We cannot force it to fulfill your wishes. Personally you may ands feel Bitcoin is a great asset but some still have caution and are only a high risk investment asset.

[Gozie51]

What do you guys think about that? Do you think it's okay that we as a community treat Bitcoin as an asset and not as a technology that should be used to give people freedom from the banks?

Sorry to say but the forum or community won't identify bitcoin as different from what reality that other people globally identify it with . Going by the bitcoin white paper, the other part of regarding bitcoin as an asset to be traded or invested upon for financial return could be regarded as secondary while the other part of freedom for the people to have their privacy and financial freedom against government control is the primary objective of bitcoin. So the way we can analyse your question is that it is both primary and secondary purpose which is for financial freedom in control and privacy through virtual cryptographic techniques and the secondary purpose is to regard it as an asset that is not regulated.

[Luzin]

Regarding how each investor views Bitcoin, in my opinion, it doesn't matter, because while they believe in Bitcoin, it's far more than enough. I mean because it's basically a multi-purpose cause whether it's good investment advice, or making it a supported currency like El Salvador then Bitcoin adoption is what it should be.
So you don't need to get dizzy or confused, the fact is that one truth can be defined in various ways. We cannot force it to fulfill your wishes. Personally you may ands feel Bitcoin is a great asset but some still have caution and are only a high risk investment asset.

Bitcoin grows because of trust, if that trust is lost it will have no value. My country has included Bitcoin as a commodity asset. So Bitcoin is an asset that has been recognized in my country. They prohibit it as payment only. So I think Bitcoin is not bad even he gave me an advantage. Indeed, instability is a strong reason to say bitcoin is dangerous. But you have to understand that stability is actually our opportunity to make a profit. If Bitcoin is stable, maybe crypto trading will be boring, difficult to make a profit.

[rat03gopoh]

I don't want to say that it's bad, it's just surprising me. I created a thread where I asked if people think that Bitcoin will become stable enough to become a new currency cos I thought it was the whole idea, but everyone was telling me that it will always fluctuate and it's just a method to earn money.

Fluctuate but very liquid. If you set up a business with bitcoin then you can reduce the effect of its fluctuations by several methods including instant exchange to fiat. But I'm not gonna argue that the awareness of newcomers in this space is not based on the technological benefits that bitcoin brings, only the volatility that is exciting enough to make money.