Quote from: DevilSlayer on March 27, 2023, 05:51:58 AM

Quote from: Marvell1 on March 27, 2023, 03:35:11 AM

Quote from: BenCodie on March 27, 2023, 12:24:33 AM

The only people who consider Bitcoin as an asset are those who believe that the value given to it by markets/speculation is so significant that it should be considered one. In reality, it does not work like an asset. Your car is an asset. You can not instantly transfer your car to someone overseas. Your car can not change hands with 10 people in a matter of 1 day. Similarly, your fiat in the bank is not an asset. It is not something you aim to store for a long period of time without touching it. Yes, it fluctuates with the price of other competing currencies, but does that make it an asset? You make the money in your bank ultimately to spend it on things like assets. Bitcoin is the same. Eventually, you will probably use Bitcoin to pay for your groceries, assets like cars, appliances, etc., give your kids an allowance and so on.

Bitcoin is a currency and its price is only volatile due to market speculation and instability of fiat currency

I know that the point of the OP isn't to start the asset/currency debate. Though I've replied in this way because calling Bitcoin an asset is wrong.

In my opinion, bitcoin is an asset, a currency, a safe haven like gold… it all depends on how you use it. When you use it as a payment method, pay bills, or buy goods, it's currency; when you use it for profit, it's an investment; when banks keep failing, and you need an alternative, it's a safe haven. Bitcoin is all you want, Bitcoin is not just a currency or an asset. OP is not wrong to call it an asset, and you are not wrong to consider it a currency either.

You cannot call it as a "safehaven" like gold because bitcoin has volatility that cannot be compared to other assets. Safehaven is a term that defines a security, which means that your money or the value is safe in any given situations. Remember that there are situations in the cryptocurrency market that is considered as really bad and those times a lot of coin are keep dumping and for me it is the reason why you cannot call it a safehaven. For me, bitcoin is an asset that can potentially help you to achieve financial freedom. I really mention the word "potentially" because there are no certainty in this high volatile market.

Potentially means that you can only make money if you understand the basic price patters, how it works, the foundation and also basic knowledge not only about bitcoin but also about technical analysis. When you have these kind of skills, you can potential make money that can help you to be financially stable.

It's a given that he thinks this way since the OP is still at the beginning of his journey in Bitcoin, once he has enough knowledge, for sure he won't be contented sitting around waiting for the next turn. I am sure he will find another way to increase his income or maybe he will find something for him to start practicing the things that he learned so far such as what you've said "technical analysis".

I won't judge the OP by his decision on selling his property for the sake of a volatile investment because it's his choice, but just like you do, I wont consider bitcoin as a "safe haven" just like what he sold in exchange for high volatility asset.