Bitcoin as P2P currency vs Bitcoin as an asset

[elevates]

To be fair Bitcoin initially was a P2P currency, while now it has become an asset.

To be fair Bitcoin initially was a p2p token designed to pay miners for their job. Months after,   namely on "pizza day', this token has got the strains of p2p currency,  while now, judging its inability to adjust itself to daily payment routine, Bitcoin is better characterized as a digital asset for a wealth preservation rather than p2p currency.

Yes, isn't that what I wrote about Bitcoin was first promoted as a coin to solve the high fee for global transactions of fiat? Then it started having a storage value which is nothing but a replacement of the existing fiat currency. The next step it did was getting a huge pump in its value while the currency that it is now compared to in terms of value is getting devalued. That is the reason why I feel it is an asset than a P2P currency, considering there are other altcoins that are far better than Bitcoin in terms of a P2P currency.

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[bitzizzix]

Because in the country where I live, Bitcoin is only allowed as an investment or asset, so I do it according to the rules determined by my country.
But that doesn't mean I can't use Bitcoin as a p2p payment tool. And I also use it personally or individually among fellow Bitcoin users when I need something that is out of reach, and also sometimes unexpected things happen and I have to use it for transactions.
So I use both, because in the country where I live there are no shops or traders who use Bitcoin transactions because of the regulations, so I prefer Bitcoin as an investment or asset because it is more promising in terms of profits and storing value.

[Mpamaegbu]

I added a poll to this post so I recommend you venture casting a vote on what aspect you use Bitcoin the most.

I abstained from voting as my option wasn't there. I would've loved to see an option that covers my thought process of Bitcoin and that's – Bitcoin is more of an asset than P2P. Saying it's equally P2P as asset makes it look like a 50/50 thing. Definitely, it's not. We're all gearing towards a bull rally and preaching hodling just like realtors would advise clients buying land to hodl on once they know a big company is coming their way to buy too. Once that happens, price of land in that vicinity shoots up. It's the same thing we're expecting after halving. P2P is more of exchange for goods and services or regular payment. Such won't give anyone the excitement of making a crazy ROI like we anticipate with Bitcoin.

[Vaskiy]

Because in the country where I live, Bitcoin is only allowed as an investment or asset, so I do it according to the rules determined by my country.
But that doesn't mean I can't use Bitcoin as a p2p payment tool. And I also use it personally or individually among fellow Bitcoin users when I need something that is out of reach, and also sometimes unexpected things happen and I have to use it for transactions.
So I use both, because in the country where I live there are no shops or traders who use Bitcoin transactions because of the regulations, so I prefer Bitcoin as an investment or asset because it is more promising in terms of profits and storing value.

Usage as P2P currency is very high limited and this will increase only when there is universal acceptance. We can't expect it to happen in the short or in the long run. For now the growth of Bitcoin is tremendous and the same makes people consider it an investment than currency. People doesn't go in search of places and spend. On the go if there is some place that accept bitcoin, they just use it to keep the circulation market of real time usage. This also helps in the betterment of the market.

[Assface16678]

For me, I will treat bitcoin as an asset only. Yes,  I can use it for transactions at such times, but if only necessary and there is no other option, it is because bitcoin to me is like a precious asset that I cannot attain to spend on something that I could buy with a fiat, maybe because I want to accumulate more bitcoin so that I can earn from it long-term.

Especially now that the transaction fee is very high, I don't recommend doing transactions frequently as you will be affected by the fee. You can do a once-in-a while transaction, but what if it is urgent? then you will need to endure the transaction fees. Anyway,  as I said, it is better to treat bitcoin as an asset and let it grow first. Maybe some other assets or coins I could use, but bitcoin? Nope, it will stay in my wallet and keep growing.

[Bitcoin_people]

Holding Bitcoin as an asset and holding it for a longer period of time is a wiser act than Bitcoin P2P transactions. We have seen many users face losses while doing P2P transactions and when they start trading with little money they face many types of losses especially high transaction fees which frustrates users. Although the term hold has been around for a long time which gives a trader high profits and returns that's why this term is used by everyone just to make enough money in the future. Although people hold Bitcoins but they are also involved in P2P transactions and regularly they continue their weekly or monthly income by doing these transactions. Most people see Bitcoin as a bright future and hold it for a long time. That's why people use secure wallets to keep their assets safe and keep their keys in a safe place to keep their funds intact.

[kotajikikox]

I am a fan of why need to choose between 2 when I can have them both?  Look at the brighter side mate and not just on single area here because bitcoin is created as currency so what does it mean ? to either use for payment/transaction or you can just keep them with you.


Having an Asset is better but the advantage also of using as p2p is there so i will use this as p2p and will keep holding at the same time .

[BALIK]

I am a fan of why need to choose between 2 when I can have them both?  Look at the brighter side mate and not just on single area here because bitcoin is created as currency so what does it mean ? to either use for payment/transaction or you can just keep them with you.


Having an Asset is better but the advantage also of using as p2p is there so i will use this as p2p and will keep holding at the same time .

That's the crux of the matter, no one prohibits us from using bitcoin for both purposes. So why do we waste time discussing the issue of choosing one or the other, when we can choose both? Like me, I use bitcoin as an investment rather than using it as a P2P currency, but when I need to transfer money to relatives abroad or certain websites accept bitcoin payments. I still use bitcoin as a P2P payment method, everything is still very smooth and without any problems. No one can ban or force me to use bitcoin for my own purposes, so there is no reason for me to choose only 1 of 2 bitcoin use cases.

[justdimin]

I use Bitcoin for both. In my country not all business are accepting as a means of payment at the moment, but whenever I go to some places where they are accepting Bitcoin as a means of transaction I pay with Bitcoin. If we all keep Bitcoin as an asset without using it as p2p then I think we are not fully utilizing Bitcoin for the purpose it was created for. One of the reasons why Bitcoin was created was for it to be use as a means of settlement of transactions among peers.

Some people won't care anyway if they won't utilize or maximize their Bitcoin experience. What important for them is they can earn a decent profit and this is only possible if they will treat their BTC like an asset. And besides, like you said, not many places or countries supports the use of BTC as a currency means. It was only a sad news for you if you are the opposite user.

However, those people who are financially capable can be able to migrate on other locations only to solve this issue. For those who are not like that. They can only wait and pray that the status of BTC are soon going to change. But I think it will for sure, because BTC is the future of the money.

[South Park]

Overtime multiple debates have been raised concerning Bitcoin losing its adoption as a P2P currency. A lot users who transact with little amounts of Bitcoins during intervals seem to be in support of loss in Bitcoin P2P adoption. However some other users especially business men who transact non stop with Bitcoin on a larger scale, seem to have the opinion that the adoption rate is quite ok. Of course no one is happy when transacting with Bitcoin during periods of high conjestions as fees can be sometimes annoying.

Nevertheless, Bitcoin has maintained a nice reputation for so long it has now become a wise choice for investment, hence the term hodling. Hodling has also become a topic of interest for Bitcoiners due to its ease and nice returns as time goes on. Due to this Bitcoin now seems more like a nice investment than a P2P currency to a large variety of hodlers.

This is not to say that a lot of person do not  engage equally in both P2P transactions and Hodling. But to see what a majority of Bitcoiners view Bitcoin as. I added a poll to this post so I recommend you venture casting a vote on what aspect you use Bitcoin the most.

Don't forget to keep your keys safe

Both aspects are inseparable from each other, if bitcoin was not a decentralized currency which could be used for P2P transactions if you wanted then bitcoin will have no value as an asset, so all of those thinking they are only using it as an investment are wrong on their views, they are fully dependent on this still being the case as if for some reason this changed then their investment will plummet out of nowhere, and those that use bitcoin mostly to do transactions and do not care about investing in it, also depend on the value people see in bitcoin as an investment, because this determines how much they can buy with their coins.

[aoluain]

I am a fan of why need to choose between 2 when I can have them both?  Look at the brighter side mate and not just on single area here because bitcoin is created as currency so what does it mean ? to either use for payment/transaction or you can just keep them with you.


Having an Asset is better but the advantage also of using as p2p is there so i will use this as p2p and will keep holding at the same time .

That's the crux of the matter, no one prohibits us from using bitcoin for both purposes. So why do we waste time discussing the issue of choosing one or the other, when we can choose both? Like me, I use bitcoin as an investment rather than using it as a P2P currency, but when I need to transfer money to relatives abroad or certain websites accept bitcoin payments. I still use bitcoin as a P2P payment method, everything is still very smooth and without any problems. No one can ban or force me to use bitcoin for my own purposes, so there is no reason for me to choose only 1 of 2 bitcoin use cases.

I'm also with you guys on this and its the popular vote ATM. Bitcoin can be both,
we decide when and how we want to use it. Thats the beauty of Bitcoin its original
usage is still available eventhough its Asset functionality is most focussed on lately.

Its not just limited to those two options either, its a great way to transport wealth
discretely and can be a temporary escape from inflation.

[BALIK]

I am a fan of why need to choose between 2 when I can have them both?  Look at the brighter side mate and not just on single area here because bitcoin is created as currency so what does it mean ? to either use for payment/transaction or you can just keep them with you.


Having an Asset is better but the advantage also of using as p2p is there so i will use this as p2p and will keep holding at the same time .

That's the crux of the matter, no one prohibits us from using bitcoin for both purposes. So why do we waste time discussing the issue of choosing one or the other, when we can choose both? Like me, I use bitcoin as an investment rather than using it as a P2P currency, but when I need to transfer money to relatives abroad or certain websites accept bitcoin payments. I still use bitcoin as a P2P payment method, everything is still very smooth and without any problems. No one can ban or force me to use bitcoin for my own purposes, so there is no reason for me to choose only 1 of 2 bitcoin use cases.

I'm also with you guys on this and its the popular vote ATM. Bitcoin can be both,
we decide when and how we want to use it. Thats the beauty of Bitcoin its original
usage is still available eventhough its Asset functionality is most focussed on lately.

Its not just limited to those two options either, its a great way to transport wealth
discretely and can be a temporary escape from inflation.

A good product is one that can be used in many cases and brings benefits to everyone. If a product is not used for its original purpose, it does not mean that it is a defective or poor quality product. People have been too stubborn to always rely on bitcoin's whitepaper and claim that it has failed when not used as a currency. Meanwhile, we can use bitcoin as currency, invest, create our own bank...it's a good multi-tool. It's confusing that we can use it for many use cases but some people feel uncomfortable with that.

[EarnOnVictor]

We use our Bitcoin for various purposes and there are many earning opportunities in it which range from investments, rewards, trading and payments but let's limit it to what you discuss here which is the investment part as an asset and P2P. I must say that I have only heard about this P2P of a thing for earning sakes and since many are engaging in it, it means that it is rewarding indeed. If not, they will not be engaging in it. However, when you consider the risks, I think that the risk is so small, that it is just similar to something that is almost certain in rewards so long as you keep your coins safe and trust the service you are using for the P2P transactions. But I do not have time for it, I have a whole lot of activities per day that can't allow me to concentrate on such a service, not to talk of making money through it. But for investment, especially HODLing, it is a very good way to earn through Bitcoin.

What is needed to be done is to ensure that you buy your coin and close your eyes. As we all know, Bitcoin is good and will continue to appreciate in value, so over time, there is no way one will not still make his money in multiples with Bitcoin. Still, I think that reasonable investors will make more money through the purchase of Bitcoin. They need to know when to buy and when to sell, not that they will continue to harbour it in their wallet forever. This can help them to sell when it is falling and buy again at a lower price. Before you know it, you would have gained so much money over time. So conclusively, you need to understand the two and know how they work their risks, the sparable time for them and the gain possibilities in them. For me, I will do what I have the time for which is HODLing, and I also know that to gain more through P2P, you need more money. But this is not necessary with the purchase of the asset itself.

[Alpha Marine]

I know people who buy U.S. dollars to hold and sell in the future because they speculate that the dollar will appreciate against their local currency or another currency. Same with the British pound and this has not in any way made the dollar and pounds any less as currencies, so why is it different from Bitcoin?

Why do people struggle so hard to separate the asset features of Bitcoin from the currency feature? It can be both. A currency can be an asset and that's exactly what Bitcoin is. The difference is, if you hold Bitcoin you stand to gain much more than someone who holds any fiat currency at all.
Bitcoin is a currency and an asset.
Using it as a currency doesn't stop it from being an asset and using it as an asset doesn't stop it from being a currency.

[Blitzboy]

Personally, I think Bitcoin's attractiveness as an investment instrument has outweighed its usage as a P2P money. Due to its rising value and transactional efficiency issues, especially during high congestion, this transition is occurring. These factors have affected Bitcoin's perception and use in the community. Let's not ignore the technology's ability to evolve.

I'm hopeful about Bitcoin's dual identity. Bitcoin is beautiful because of its adaptability. In addition to being an asset, it has P2P currency potential. Future technological advances may revive its use as a transactional currency. So while I voted in your poll, I believe Bitcoin's P2P currency adventure isn't ended; it's just maturing as a digital asset.

[DaNNy001]

Unlike before, if I want to send money to someone that is not in my country, I have no option than to use fiat which can be very slow and of high fee. Although bitcoin fee right now is also high but I can send it to the person aboard which would be very fast. If I want to make an foreign online payment, my country is allowed to pay but the bank is declining the transaction. I used bitcoin for the payment. There are times that fiat will fail someone as it is centrally controlled. But I still use fiat for making payments, especially locally which is fast and cheap.. Locally, I see no reason to use bitcoin.

Most of my transactions are local transactions. I use fiat for local transactions. Most of my transactions are local transactions. This always still makes me see bitcoin more as an investment. I have bitcoin because I invested in it. But sometimes I use it for payment. But what I noticed is that people use bitcoin to hedge against inflation and also as an investment, than to be used for P2P transaction. But we should still know that if you use bitcoin for investment, that is not affecting its purpose for P2P transactions.

Your explanation is exactly my base of action with Bitcoin too, and to say the truth I think all Bitcoin are really interested in Bitcoin because of its store of value ability, I mean why would anyone choose fiat to save when there is Bitcoin which can guarantee you profits when the inflation has eaten up the world although you using your Bitcoin doesn't mean you have escaped the inflation in terms price variation on commodity but atleast you will be moving with it as the value of your Bitcoin will aslo possibly increase with it so the effect won't be felt that much.

And for the case of it as means of transaction, I think that the best and good reason to transact with Bitcoin especially in a region like mine when most international transaction seem to be charge huge amount by bank and only the procedure involved will get you tired so using a less stressful means like Bitcoin is a perfect example.

[laurenB7742]

Unlike before, if I want to send money to someone that is not in my country, I have no option than to use fiat which can be very slow and of high fee. Although bitcoin fee right now is also high but I can send it to the person aboard which would be very fast. If I want to make an foreign online payment, my country is allowed to pay but the bank is declining the transaction. I used bitcoin for the payment. There are times that fiat will fail someone as it is centrally controlled. But I still use fiat for making payments, especially locally which is fast and cheap.. Locally, I see no reason to use bitcoin.

Most of my transactions are local transactions. I use fiat for local transactions. Most of my transactions are local transactions. This always still makes me see bitcoin more as an investment. I have bitcoin because I invested in it. But sometimes I use it for payment. But what I noticed is that people use bitcoin to hedge against inflation and also as an investment, than to be used for P2P transaction. But we should still know that if you use bitcoin for investment, that is not affecting its purpose for P2P transactions.

Your explanation is exactly my base of action with Bitcoin too, and to say the truth I think all Bitcoin are really interested in Bitcoin because of its store of value ability, I mean why would anyone choose fiat to save when there is Bitcoin which can guarantee you profits when the inflation has eaten up the world although you using your Bitcoin doesn't mean you have escaped the inflation in terms price variation on commodity but atleast you will be moving with it as the value of your Bitcoin will aslo possibly increase with it so the effect won't be felt that much.

And for the case of it as means of transaction, I think that the best and good reason to transact with Bitcoin especially in a region like mine when most international transaction seem to be charge huge amount by bank and only the procedure involved will get you tired so using a less stressful means like Bitcoin is a perfect example.

I agree with everything _act_ said and you about using bitcoin as a means of international payment or to transfer money abroad is much more convenient and better than fiat currency. But I will not agree with you that bitcoin will guarantee profits to those who invest in it. Bitcoin is a highly volatile asset and a financial market, so owning it does not guarantee that you will never lose money and always make a profit.
Up to now, there are many people who have changed their lives by investing in bitcoin, but there are also many people who have lost money when investing in bitcoin. Everything does not depend on bitcoin, profit or loss depends on the abilities of each investor.

[retreat]

You can think of Bitcoin as an asset or Bitcoin as P2P, it doesn't matter. We don't need to compartmentalize whether Bitcoin is an asset or not, the most important thing is how Bitcoin can be adopted by more people globally. Whether people consider it as an investment or for payment is up to them, the point is that Bitcoin as a digital asset must maintain its existence and we must continue to support it in the future.

[Jegileman]

I venture into both, as an asset and also for p2p transactions. I found myself using it for p2p mostly because of my needs that arise when I least expect it even when I’ve decided to keep some for the future. Gladly enough, no much loss have been encountered during that period and the value as always increased as of the time I want to exchange the coin to fiat through p2p. Bitcoin has indeed pave way for a means of dependable savings for the long term, I know this will continue to be adopted and more people will buy into this technology as years pass by. I have reasoned and decided to use bitcoin for both purposes, as an asset and for p2p transactions and they both working out for me.

[kentrolla]

If we go by the reason why Bitcoin was created it's solely for P2P without any third party intervention but now we don't see people viewing Bitcoin as the same since they are more interested in the returns and primary objective have become as a investment and there are two reasons for it, first one being the capability of Bitcoin to give better returns and risk factor is lesser compared to Altcoins, secondly due to the higher fee and transaction time it takes as there are lot of better options available in market for lightening speed transaction t much lesser price.