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30083671 No.30083671 [Reply] [Original]

Is bitcoin going to be used as currency or is it an asset?

>> No.30083744

bitcoin isnt a currency but it holds value so we can say it is an asset and should be reported on a balance sheet

>> No.30083848

>>30083671
its just the market standard

>> No.30083867

>>30083671
it doesn't feel as good as you imagine, except some time when you're excited, in which case it can feel 3x better for some reasons, very weird, it's all in your head

>> No.30083881

both and neither at the same time

>> No.30083925

>>30083671
neither. it's a commodity

>> No.30083940

>>30083671
>currency or is it an asset
yes

>> No.30084663

>>30083671
Only a retard would spend an appreciating asset.

Currency needs to be either stable or depreciating or people will just hold onto it. Why buy a Tesla for 2BTC today if it will cost half a BTC next year? Why buy one the next year for half a BTC if you can buy it next year for 1/8 of a BTC.

>> No.30084767

>>30083671
once it eventually stabilizes it will be like digital gold, a store of value that doesn't inflate like fiat but not super useful in and of itself

>> No.30084916
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30084916

>>30083671
My good sir, Bitcoin will die because of four things:

>Taxes
Most governments accept their currency for taxation. They do not accept hard assets, oil, silver, gold, etc... Even if you can use a silver coin, gold coin or Bitcoin as currency - at the end of the day you are taxed in dollars. So at some point you need to exchange your asset for the accepted currency for taxation. Companies like Tesla might accept Bitcoin but they will have to sell their Bitcoin for dollars to pay taxes

>Surveillance
Financial Surveillance is another great benefit to moving to cryptocurrency. Every single citizen will be assigned a wallet for the Central Bank Digital Currency. This could be assigned at birth or not, it matters not when you get a wallet only that you have a wallet that the government can identify as being your wallet for financial surveillance, taxation and handouts. Buying or selling without the wallet will be illegal or at least heavily restricted. This Financial Surveillance will allow a more expansive and accurate credit system and they will claim it is to also help stop crime

>Accounting
This should be self explanatory

>Direct-to-citizen deposits
Direct-to-citizen deposits would basically be handouts and loans, welfare checks sent directly to an individual without any intermediaries. This will allow greater stimulus power and the ability to restrict what that wallet can purchase with the deposit. Loans would come directly from the Central Bank

Governments of the world will crack down physically and financially to anyone that does not comply to the new Central Bank Digital Currency standard. The European Central Bank has already acknowledged that they will control it and can view all transactions on their ledger. China has already rolled out their Central Bank Digital Currency with great success. It is only a matter of time not if

>> No.30085149

>>30083671
That's a drawing of a man