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

[Gallar]

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.
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Bitcoin has indeed become one of the great assets that exist at this time. So that many people use it for positive things, for example being able to make money and have financial freedom. So I think if someone views bitcoin as an investment asset or as a new decentralized currency, all of those opinions are not wrong and all of them are right. Because if bitcoin is widely used as an investment asset by many people, all of these things will directly lead to the adoption of bitcoin as a new currency. So you shouldn't be surprised if many people now view bitcoin as an investment asset. And in my personal opinion, if all of these things still have a positive impact on many people, whether they are used as investment assets or used as currency, I think it's the same thing.

[avikz]

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?

What's the issue with both? If people are able to make money from Bitcoin, that's great! At the same time they are able to celebrate the technology behind it.

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.

Whatever success you are seeing today in cryptocurrency market. It's because people are able to make money out of it. Making money gives purpose. Why would anyone celebrate the technology behind it if that technology is not giving any purpose to them?

[Despairo]

I think many users aren't realize if the @OP had created two thread about similar discussion where he consider Bitcoin is an asset, not a currency.

When Bitcoin will become stable currency?
Bitcoin can't become world currency (at least now).

@OP is a rockheaded person, he won't listen with you guys, he will keep saying Bitcoin price is never been stable, high volatility, etc and don't care with the Bitcoin whitepaper which has been stated Bitcoin is a decentralized currency. I think we need to let alone him, anyway what's the point to argue between Bitcoin is an asset or Bitcoin is a currency?

[Cuenta Alternativa]

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.

I doubt literaly everyone told you that but if they did, they were wrong.

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?

The dilemma you raise is false. Bitcoin is an asset that can provide freedom from banks, and I say can because, given the way adoption is developing, it seems to me that banks in the broad sense (financial institutions) are going to play an increasingly important role in it. It is a departure from Satoshi's initial idea, but it is what it is.

[Rruchi man]

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?

How people consider and treat bitcoin is always on a personal level. There are personal reasons why everyone has an attraction to bitcoins. This is why it is important to always touch and explain all the benefits and advantage of bitcoins to someone you are talking to about bitcoins and not just the potential for it to yield profit when invested in.

 Truth is some people already have some kind of investment and not interested in any other kind of investment other than what they know, to these people, if you talk to them about bitcoins and you only mention the potential bitcoins have to give you profit when invested in only, they may not be interested. In stating and explaining all the benefits of bitcoin, talk about everything because you never know the one that will interest and get the attention of your listener.

Imagine meeting someone who you never had an idea that had a problem with transactions and was looking for alternatives, and then why you are engaged in a discussion with them you begin to tell him about the benefits that the bitcoins have in terms of transactions. That will definitely be of interest to him, even much better than for investment.

In conclusion, always try to be elaborate when discussing the benefits and advantages of bitcoins.

[Texac]

Why don't you think it is both? If you want to use bitcoin as a payment method or currency, then use it without caring what others say.  likewise, many people prefer to use it as an investment, an asset, also of their choice. No one is wrong in this situation, and it shows that bitcoin is superior to fiat, compared to gold, it is the product of a composite of the advantages of other assets. Use bitcoin your way, and don't mind what others say because everyone's life is different.

[KiaKia]

It's the best asset out there that's worth your money, I will ditch Gold for Bitcoin any time any day and even if I have Gold right now I will sell the Gold and buy Bitcoin instead, I believe that OP is just confused, because Bitcoin can be used as a means of payment and also as a distance between the banking system and your money, Bitcoin is decentralized and with decentralization comes freedom, how can one not embrace the two? One utility isn't affecting the other.

[Bitcoin_people]

Bitcoin is a virtual currency and more people are interested in investing in this Bitcoin. I think Bitcoin is an asset that will remain as a fund for the future. Investors use this Bitcoin as an asset because Bitcoin has a near future. In today's world, most banks keep money in most banks and many people hold virtual currencies. I think it's better to invest in Bitcoin than keep it in the bank because it will be an asset. And people get a lot more freedom by investing in Bitcoin than they get from banks. So to me Bitcoin is like an asset and for the future it will reflect life.

[tjtonmoy]

This totally depends on personal choice. The way people treat it will be the thing it will become to them. One can choose it as an asset or a currency. People are still using Bitcoin for multiple purposes. If one is capable enough to make profits from investing in Bitcoin, then he will do just that. And if one is not capable of doing it, then they can choose it as a currency or a payment method. Also there are those who only choose Bitcoin for the technology it's built with.
People have different choice and different opinions. The conflict between them will remain as it is. So all we can do is use it for what we choose it to be.

[BitcoinPanther]

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.

Yes bitcoin uses blockchain technology and is refers as digital currency unit itself but Bitcoin together with blockchain is a technology. Have you not read the earlier reply?  In addition to those replies this might be an interesting read: https://www.wired.com/insights/2014/04/bitcoin-ultimate-democratic-tool/

There are two different bitcoins. There is “Bitcoin” and there is “bitcoin.” But what is the difference? In a nutshell, “Bitcoin” with a capital “B” is the Bitcoin protocol. Bitcoin with a lower case “b” is the currency. This sounds like a fine distinction, but it is important…very important.

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.

It maybe a joke but everything changes, so the highly fluctuating bitcoin today might become or considered stable in the next decade or more.  There is always that possibilities.

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.

Those who are knowledgeable about Bitcoin treat it both a technology, an asset and a currency.  Those are the feature of Bitcoin why choose only one when we can have multiple benefits.

[Ucy]

Bitcoin was created to be a Store of Value and not just a Medium of Exchange. A proper money should be a good Store of Value which basically means that people assets/values in form of Bitcoin/money is preserved rather debased when stored longterm. So, it will be wrong to take the SoV feature away from Bitcoin. Without it, Bitcoin won't be a proper money.

In regards to price fluctuations, it's actually the heartbeat of Bitcoin. It's a way to know how the economy is doing. If you suppress it how do we know how well Bitcoin is doing? If price goes down 5% a self-regulating mechanism kicks in, the community begins to promote, fix or contribute to the development of Bitcoin to attract buyers and increase the price by 10%. If everything is in order the price fluctuates moderately until there is need to pump it up more, which is usually temporal. So, you need to learn to live with the fluctuations.
If you are too bothered about the fluctuations then quit comparing it with fiats and just focus on Bitcoin & it's local economy.

[CryptSafe]

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 have as well come across your post about that and I believe I did comment on one of them talking about bitcoin as an asset. Actually, from the history and beginning of bitcoin, Satoshi designed it in a way that Bitcoin could serve as money in our day-to-day life activities. Bitcoin could be used as real-life digital cash to purchase goods and services but the unfortunate happened, at the early stage, the whales manipulated the market causing the holders to sell under panic not knowing that was an intentional act for them to take over the market and it worked out as they planned to cause the weak hands to sell under pressure until it was realized that they were tricked but before they could realize it, it was late.


However, bitcoin is a volatile asset and as such does not need to be stable because already, people have also started to see bitcoin as a store of value which means one can convert their assets while storing them in bitcoin. So far, bitcoin is seen as a new financial technology that has come to take the place of fiat with good possibilities and growth as it extends to all sectors of the economy far and wide all over the world.

[DiMarxist]

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.  Investors use this Bitcoin as an asset because Bitcoin has a near future. If one is capable enough to make profits from investing in Bitcoin, then he will do just that. So I think if someone views bitcoin as an investment asset or as a new decentralized currency, all of those opinions are not wrong and all of them are right. Because if bitcoin is widely used as an investment asset by many people, all of these things will directly lead to the adoption of bitcoin as a new currency.

[puloweh555]

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?

Bitcoin can be seen from various dimensions and can also be seen from various different points of view, of course. Since bitcoin was created by Satoshi Nakamoto, Bitcoin has become more than just a crypto digital asset but has now become a means of payment in certain areas.

Of course, the existence of bitcoin does have an impact on banking institutions. What is certain is that banking will be rivaled by the blockchain technology that underlies bitcoin. So, banking here should also accommodate and adopt cryptocurrencies with banking products. Because after all banking and bitcoin still need each other.

people's view of Bitcoin really depends on the background and purpose of that person's point of view. Some see it as a potentially profitable investment tool, while others see it as a technological innovation that will change the way we interact with finance. Regardless of which point of view one chooses, for me Bitcoin is a technology and ecosystem that is constantly evolving, it is an innovative proof of concept that we can transact securely, transparently and decentralized.

[so98nn]

Yeah this assumption and fight over it has been done all the time on this forum and there was no real outcome so far. Peeps have started calling it asset or coin alternative and as per the context they are using. I’m sure that won’t matter a lot and it never did. Bitcoin has value and peeps are going to take it as an opportunity to invest thus may speak in terms of assets or alternative when they are transferring or exchanging then it could be a coin that they are sending. It barely matters. Bitcoin is bitcoin, rest is just nomenclature.

[ultrloa]

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.

Not everyone will think about things you like and what you call on bitcoin since it will depend on what is the use of bitcoin for you.

If you think that this is an asset because you use it on investment then its fine nothing can argue with that since you are using it for good means. Also if you call it a technology because you like the idea why it created and how it innovate lives then this will be it. Just continue to use it base on what you prefer and don't argue to any people the way how they think about what is bitcoin for them.

[romero121]

Through the technology behind bitcoin it have got multiple usage. Satoshi had a vision and he worked on it. With time the usage varied between people. Bitcoin that have been used as a transaction source gained importance as an investment through the growth it attained in very short time period. Because of its pseudonym feature it got its usage on illegal needs in large number during the starting days. This even gave negative opinion over bitcoin among the common people.

Whether it is an asset or something else is secondary. How effective it has been getting used aroud matters. If you consider it an asset, then it behaves accordingly. It is upon the way we use it. For now it is much commonly used as asset, investment, transaction source, currency, etc.

[JoyMarsha]

Bitcoin is viewed by many as an asset they can store their valuables, as an investment tool on which they can make money, as a digital currency they can trade, or as a payment method.  I'm only stating what different people's thoughts are on bitcoin.
All the mentioned aspects of bitcoin of how people see it, it's good but that depends on how they go about in their dealings in bitcoin that will define bitcoin in a proper way for them.

[Oasisman]

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

Nope, its not! It is what makes Bitcoin became popular with. Though bitcoin should be used as a currency, but it could definitely be both simply because it is very profitable in the long term. Bitcoin is more than just an asset, and just because you have seen majority of the people treat it as an asset  or a store of value doesn't mean it'll eliminate it's main purpose as a currency. There are still a lot of people who uses bitcoin to purchase products and services, transfer money without any borders and limit. Those transactions are actually by passing any 3rd party money processors and banks.

[Hamza2424]

I was taking Bitcoin as an asset before but recently a few months ago I realized my mistake and now I have the same opinion as most of the people here have. It was primarily designed as a P2P medium of exchange and it should need to be always a medium of exchange. There is nothing wrong if anyone wants to invest here by the narrative of the asset. The Original idea has many edges on the asset. The following things might get affected or you might get affected if you consider BTC as Asset;

-Volatility: BTC is known for its volatile nature by declaring it as an asset it will lose its volatility.
-Limited Adoption
-Whales Market Manupaltion will also Boom
-Lack of intrinsic value