Quote from: deed02392 on December 19, 2013, 02:02:07 AM

Quote from: MoonShadow on December 19, 2013, 12:22:32 AM

Quote from: sublime5447 on December 19, 2013, 12:11:07 AM

Quote from: MindGrenade on December 17, 2013, 02:28:50 PM

Cool, so we get to keep the increasing value of the currency as opposed to having the central banks siphon the value out of the dollars in my bank account? You feel more comfortable with the idea of your money losing value so you have to spend it right away?

The only reasons I'm not using my bitcoins thus far

A) I'm not being paid in bitcoins

B) Few are accepting them directly.

I'm not converting to fiat and back just to dip into my holdings. As soon as I can just do away with handling fiat and pay my rent in btc I shall do so.

When it takes off with gusto in 2014-2015, then I'll be using them as currency instead of just holding them

And they are not going to start accepting them.. they cant. It is not currency it is an asset but what kind of asset is it?

An asset is something that generates value to the owner by some other method than speculation. Bitcoin does not do that, it represents value that can be transfered, but cannot produce new value. Bitcoin cannot ever be an "asset".

What about as a means of transferring money for less than a bank would charge?

That's savings, not new value, more commonly known as "income". Of course, unless you're renting it out, real estate doesn't qualify as an 'asset' either; so this is another one of those economic terms that have a bit different common usage. If you have a mortagage, your home is a 'liability' not an asset.