What is an asset? Are cryptocurrencies assets?

[ClubMan]

I am just interested that an asset can be created out of nothing.

Nothing but a lot of electricity?

 

[Annieindublin]

If you have it and someone else wants it it has value…

Intellectual property is an asset. Is that created from nothing?

Goodwill is an asset. The sort created when you sell a business

Intangible assets are assets

 

[Fortune]

My favourite is the Irish £1punt

The note rather than the coin?

I still think we missed out by having the national emblem on the obverse of Irish Euro coins, rather than retaining the hare, salmon, etc.

 

[Fortune]

Intangible assets are assets

I was hoping we'd get through this without having to refer to the various accounting standards; IAS 38 in this case.

 

[Duke of Marmalade]

ChatGPT on the OP question

 

[Dinarius]

Are cryptocurrencies a form of pyramid scheme in that early adopters need others to buy in so that they can sell and make a profit on something that has no underlying asset?

The term "asset" in relation to CC is being used here without defining how they are so.

D.

 

[Corola]

The altcoins that have no conceivable use as an actual currency certainly are.

Bitcoin in theory is a means of payment, even if it isn't used by most people as that.

 

[mmclo]

Classic cars, cash… works of art… all assets.

Sure didn't the banks literally have to sell the paintings during the financial crash

Is my stamp collection assembled between 1990 and 1993 an asset?

Check with Lord Melbury

 

[thecoffeepod]

The altcoins that have no conceivable use as an actual currency certainly are

Governance tokens ?

Stable coin?

Play to earn tokens

Etc etc

There are uses to altcoins