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

[kamvreto]

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.

Currently, in general, it is widely used as a commodity investment asset and is a speculative coin that is widely played by whales. for use as an alternative currency or payment is still not very popular due to regulatory issues. Whatever you want bitcoin to be decentralized, it can't be completely regulated by anyone. Bitcoin remains Bitcoin and will not be like Fiat which is only regulated by the government. Bitcoin keeps growing with the support of the community and because of its limited supply it makes Bitcoin even more scarce

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[dothebeats]

People follow where the money is, and since bitcoin has the ability to pull in a lot of people to invest into it, those who have deep pockets used this opportunity to make money and stimulate the markets into forcing a lot of people to buy it. While bitcoin in itself is a generally good hedge against inflation, I wouldn't bet everything on it, as diversification is still key. Precious metals remain to be sought after since they still have a lot of utility in the modern world. They're still used in a lot of industries and some other industries can't even function well without it.

To put it simply, you can invest in bitcoin, but do not put everything in it and still have something for other assets around.

[kawetsriyanto]

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 is wrong if people make Bitcoin as a digital asset? If you think fluctuation or volatility is bad for Bitcoin as an asset, it is untrue. Even fluctuation or volatility is the advantage of Bitcoin, it makes people earn high profits. You can imagine if Bitcoin has no high fluctuation or volatility, how the price can soar significantly? You misunderstand if you think fluctuation or volatility is a bad thing.

By the way, we can use both as an asset and as a payment tool. But you need to adjust it to the law or regulation in your country. In my country, Bitcoin can use as a digital asset only, it can't be a payment tool. But in other countries, Bitcoin is possible to use as a payment tool.

[Yatsan]

It is supposed to be an alternative currency to fiat but has certain chracteristics which is advantageous. However, Bitcoin is more beneficial to users as a form of asset or investment. One reason why Bitcoin is not widely being used as a currency is because of its adoption issues concerning countries. Many countries still are not supporting this technology's usage due to taxation and volatility issues.  It is being used as an investment on the other hand 'coz investors are making use of its volatile market price at a higher rate in comparison with other assets such as Gold. If it is a bad thing, I'd say no. People are free to use Bitcoin on any way they would want to. We cannot force people to use Bitcoin as a currency 'coz they'd be at guilt from doing so, missing the opportunity to earn profit especially when market prices goes up.

[crypticj]

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.

I created the whole trend for it here where people voiced their opinions. So when I say about opinions I mean people from the trend. And my point is that the fact that Bitcoin is an asset won't allow it to become a new global currency that the majority of people would use. Because it won't be stable enough. It was my whole idea.

In my last thread, I advocated that global adoption won't happen until bitcoin is fluctuating 5% and more every week because people will afraid to use it.

[robattfield]

I have no personal opinion on whether Bitcoin is a good or bad asset. But some features of Bitcoin such as unforgeable, secure, not regulated by the government, etc. have been recognized or well known in this environment. However, there are also risks associated with using Bitcoin, including price risk and safety risk. The price of Bitcoin is very volatile, and using Bitcoin also requires users to have knowledge of technology and security to avoid the risk of being scammed or hacked. Therefore, basically, whether Bitcoin is a good or bad asset depends on each person's point of view and purpose of use.

[Cvetik56]

For me have always been an asset. Yeah, it's a great technology and I admire that, but I'm investing money in it to save and get more money back in the future.

[Litzki1990]

Based on what we can consider Bitcoin as bad. If Bitcoin was bad it wouldn't have gained so much popularity worldwide.  Maybe we can't consider this coin as bad because the value of this coin rises. The popularity of this coin is seen by seeing the price rise of this coin. Because if the coin was fixed in any one place then people would not have invested unnecessarily in this coin because the market rises, that is why people understand the opportunity to invest in this coin and those who are good at investment have made a lot of money from this bitcoin by investing in time. Considering these things, no one will ever call bitcoin bad.

[Mpamaegbu]

...but everyone was telling me that it will always fluctuate and it's just a method to earn money.

Anyone who sees Bitcoin more as an asset (I'm one), of course believes it will continue to fluctuate. It's the fluctuation that majorly gets the attention of people to invest in it. Anyone who argues otherwise aren't true to themselves.

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?

It really doesn't matter what our decision is here on how to treat Bitcoin, the market takes care of that. Honestly, I think Bitcoin is both – asset and technology. Bitcoin is decentralized and can't be under the control of anyone.

[Crypt0Gore]

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.

You are dead wrong, the whole idea of Bitcoin is not to become a stable digital currency, it's impossible, many people think that the volatile of Bitcoin is the problem, they lack understanding it seems, if Bitcoin doesn't retest old value how will adoption work? Do you think that people will buy something that remain in the same position forever? No, the reason why stable coins prevail is because of Bitcoin and Ethereum, to be able to take advantage of the dips and move money around easily is why stable coins like USDT survives, the devs of USDT should thank Bitcoin, if not, there will be no reason for anyone to buy USDT.

Many people that gets into Bitcoin investment either wants a better life or they want freedom through the decentralized characteristic of Bitcoin, it's users choice to pick a side but who cares? All we want for Bitcoin is better adoption rate and they reason why people make a choice is less of my business.

Bitcoin creates value and also gives unending opportunities to those that already missed out, if you can use the halving cycle to your advantage it's good and if you can't it's left for you, there is nothing in this world that has good value and also gives newer opportunity to those who are once left out, only Bitcoin does this.

All it takes it's for you to be in the right state of mind and try as much as possible to understand Bitcoin, it's like a yin and yang theory, some invested when it's low and sell when it's high, it must not stay at high forever so that other people can benefit again, volatility is the best thing that ever happened to Bitcoin, to me it makes sense and to many it doesn't, that's fine by me.

[Minor Miner]

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 is wrong if people make Bitcoin as a digital asset? If you think fluctuation or volatility is bad for Bitcoin as an asset, it is untrue. Even fluctuation or volatility is the advantage of Bitcoin, it makes people earn high profits. You can imagine if Bitcoin has no high fluctuation or volatility, how the price can soar significantly? You misunderstand if you think fluctuation or volatility is a bad thing.

By the way, we can use both as an asset and as a payment tool. But you need to adjust it to the law or regulation in your country. In my country, Bitcoin can use as a digital asset only, it can't be a payment tool. But in other countries, Bitcoin is possible to use as a payment tool.

To be fair, if bitcoin wasn't volatile in the first place and didn't generate the huge returns that made many people millionaires, would we invest in it, and would it become as popular as it is today? I don't think if bitcoin were stable, it would have achieved the success it is today. In my opinion, bitcoin is really more suited as an asset than a currency.

But it should also be added, it has all the characteristics of a currency, so there is nothing wrong with those who use it as a currency. Bitcoin is the world's first currency and payment method that can use cross-border money transfers at low cost, without taking too much time and complicated procedures like today's centralized systems. Bitcoin is a flexible asset, and we can use it as we want and for our purposes.

[Reid]

There's nothing wrong about it, it can be both an asset and a currency.
If you save your money, that is also called an asset. If you save gold necklaces, rings, and bars in your vault, that is called an asset too and it can also be used as means of paying someone about something, a trade or barter or you could pawn or sell it for cash.
Any way an investor wants to think about what he bought is not something we could control anymore. If he/she likes to keep it as an asset, then so be it. Now if he/she have transaction that must be done in daily basis then Bitcoin could also be a good choice for it. I don't think it matter between the two options.

[Patrol69]

Everything has its positives and negatives. Bitcoin is no exception, Bitcoin has its pros and cons, but if the pros and cons are compared, I think the positives outweigh the negatives. If we can't use something properly then its results are not supposed to be positive. 

There are many investors in Bitcoin who invest without minimum understanding of the market and when they lose their investment due to lack of minimum understanding of the market they spread these negative news about Bitcoin but if investing with certain rules and understanding of the market. If so, I think it is possible to achieve success from Bitcoin.

[siedemtrzy]

There's nothing wrong about it, it can be both an asset and a currency.
If you save your money, that is also called an asset. If you save gold necklaces, rings, and bars in your vault, that is called an asset too and it can also be used as means of paying someone about something, a trade or barter or you could pawn or sell it for cash.
Any way an investor wants to think about what he bought is not something we could control anymore. If he/she likes to keep it as an asset, then so be it. Now if he/she have transaction that must be done in daily basis then Bitcoin could also be a good choice for it. I don't think it matter between the two options.

Agreed. But I still don't understand people that spend their Bitcoin. I don't judge them, but I feel that they are wasting it when they buy coffee or VPN subscriptions with it. On the other hand, we need Bitcoin adoption to attract more people and make BTC more valuable.

[karmamiu]

As of today I still think that bitcoin is still a great asset to be owned, although I wouldn't recommend doing something reckless such as getting in debt just to invest in bitcoin, but overall it is not that bad to own one. You were also right that it can still be treated as a technology that can offer up infinite possibilities specially in todays age which people are now more inclined to the usage of internet and modern technology. I do believe that the creation of bitcoin and blockchain technology can pave the way to open up more opportunities in the future, not just only in terms of finance but also in different aspects in our modern day.

[reagansimms]

I'm sure you have collected more information about Bitcoin than I thought, the contents of your post have explained the advantages of Bitcoin technology and you admit Bitcoin is a great asset. Then why are you still doubtful about the potential that Bitcoin generates, I don't want to think any further about Bitcoin. My knowledge of Bitcoin is enough to make me believe in Bitcoin as a store of value for the present and the future.
I feel lucky to live in a time when Bitcoin is developing, I can tell my children and grandchildren about my involvement in Bitcoin investment and how Bitcoin is developing today.

[kryptqnick]

I don't think Bitcoin will ever fully stabilize, but it doesn't mean it can't function as money, and it also doesn't mean it can't be both an asset and a form of money. I didn't come to Bitcoin because of potential gains or the positive hype. I came more out of curiosity for some new type of money that's fully digital and independent. I do believe Bitcoin will continue slowly growing over time, but I'd also gladly have it if it instead somehow froze in value, and we knew it won't ever go up again. But that's not the case, and of course many are drawn to Bitcoin because of it being a good asset.

[n0ne]

Bitcoin have various disciplines, it gets to be an investment asset for some people. The same bitcoin is used as trading asset by certain group of people. The object is the same and the usage varies depending upon the people. Bitcoin having the value that fluctuates make it have different form of usage. Bitcoin having good value makes is get used as a form of money. From the fiat currency we've reached the completely technology backed cryptocurrency, where the success relies on the limited supply. In all ways of usage it is good for the users.

[NicNacCoin]

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?

Whether you call Bitcoin an asset, a technology, a bank of virtuality, etc. But I wouldn't be wrong to say that Bitcoin is a valuable virtual asset. I will try to explain the matter in terms of the current state of banking system and fiat currency of my country. Banking system in our country is plagued with many problems, inflation is constantly happening here. As a result, in the bank the amount of interest paid by keeping money makes the interest seem negligible due to inflation. So all the conscious citizens in our country who kept money in the bank understood the importance of Bitcoin and started withdrawing money from the bank and investing in Bitcoin. Because investing in Bitcoin will be much more profitable than depositing money in the bank in our country. Moreover, if you invest in Bitcoin, your wealth is under your own control. In this case, government institutions or banks will not be able to control my assets, but even if our country's banking system goes bankrupt, there will be no impact on my bitcoins.

[Bobrox]

Some people mind's Bitcoin is an assets as their investment at the future with potential raising to higher price, but don't blame with another side Bitcoin is digital payment currencies will make all transaction easy and faster. Indeed not adopt or legal in many countries but Bitcoin can help us how to make transaction payment faster than fiat and why many companies try to adopt bitcoin as their payment way.

Its not mistake when having mindset about is an assets, many people become bitcoin investor because want to earn much profit at the future as their investment assets. But with Bitcoin can adopt for payment currencies and have many advantage than fiat will give another reason about bitcoin is not an assets only but also bitcoin working well when adopting as payment currencies transaction.