Bitcoin is a currency, an investment. Its use is up to the individual, and there is nothing wrong with people just seeing it as an investment. If you don't like to use it for investment, then you can use it as currency, you don't need to care about others. You just have to remember that, as long as bitcoin creates value and benefits people, that's bitcoin success.
It's better to use bitcoin as an investment if you can't use it as currency, especially if your country doesn't allow it as a means of payment. At the very least, by using bitcoin as an investment, you are already trying to prepare your future to improve. And when your country allows bitcoin as a means of payment, you already have more bitcoins and I don't think you want to use them because you must feel that bitcoin is too valuable to be a means of payment. 
Topic: Bitcoin is still a digital currency - page 3. (Read 385 times)
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Bitcoin was a digital currency. bitcoin is a digital currency and bitcoin will be a digital currency no doubt. Forget what people now think bitcoin is, focus on how many of people around you know about bitcoin. If people do not know about bitcoin they cannot use it as a currency or alternative of fiat. All I can say is we are on right track to establishing the goal of bitcoin.
If I live in a country where Bitcoin can be used as a currency, I will use Bitcoin as a commodities and currency at the same time.
I will not hold any cash anymore, I will convert all of my cash into Bitcoin and make some diversifications to other commodities e.g. gold and stock. If people are saying Bitcoin is better being a commodities than a currency, what's the reason to have cash when there's always inflation happen every year. If you don't have cash and you only have Bitcoin, but you want to buy a burger to eat, would you only hold Bitcoin and not spent it just for a burger? that's not make sense.
I will not hold any cash anymore, I will convert all of my cash into Bitcoin and make some diversifications to other commodities e.g. gold and stock. If people are saying Bitcoin is better being a commodities than a currency, what's the reason to have cash when there's always inflation happen every year. If you don't have cash and you only have Bitcoin, but you want to buy a burger to eat, would you only hold Bitcoin and not spent it just for a burger? that's not make sense.
however, based on the population of Bitcoin, it can be predicted that Bitcoin can be used as an international payment method like USD in the future and many places have already started accepting payments in Bitcoin and it only needs to spread.
Given bitcoin's volatility, it is still more suitable as an investment or commodity than as a payment method. Many places are trying to accept bitcoin as a method, but not as many as you say, and they aim to make an impression, not make bitcoin a natural means of payment. Even on this forum we are discussing investment more than currency.
Bitcoin is a currency, an investment. Its use is up to the individual, and there is nothing wrong with people just seeing it as an investment. If you don't like to use it for investment, then you can use it as currency, you don't need to care about others. You just have to remember that, as long as bitcoin creates value and benefits people, that's bitcoin success.
Yes true. Bitcoin is not used for any specific purpose. The price of Bitcoin is always fluctuating so it is profitable to invest in it and anyone can use it as a payment medium or as a means of saving money. many people also use Bitcoin for gambling But I think it is used more as a potential investment. however, based on the population of Bitcoin, it can be predicted that Bitcoin can be used as an international payment method like USD in the future and many places have already started accepting payments in Bitcoin and it only needs to spread.
What if I own a silver dollar? Technically, it's still a currency but most people see it as an asset. I get your point OP but is the distinction really important? You worry too much what the government can do, it's not like they have full control, unless you consented control of your bitcoins to them.
WOW! Such a huge post with zero paragraph. Looks like a wall of text. Definitely not easy to read it on a mobile device as I using one now. @OP can you please edit it with paragraphs as that would be very helpful. Do check this thread to understand what I trying to say.
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Nice write up, but the whole text is clogged up making it difficult to read through so when next you're composing a text make sure you give it some space so that it won't looked all jammed up.
Remember that Bitcoin has not yet being accepted as a legal tender in most countries so it's still going to take a long time before everyone will start to view it as a means of payment but it still doesn't matter to much if they take it as a means of payment or as an investment scheme so long as they grasp the idea behind Bitcoin which is Freedom according what I read the main reason for bitcoin's creation was to give the common people the power for them to own their own wealth and not just to leave everything in the hands of government and I think majority of those involved in Bitcoin understand that fact.
Remember that Bitcoin has not yet being accepted as a legal tender in most countries so it's still going to take a long time before everyone will start to view it as a means of payment but it still doesn't matter to much if they take it as a means of payment or as an investment scheme so long as they grasp the idea behind Bitcoin which is Freedom according what I read the main reason for bitcoin's creation was to give the common people the power for them to own their own wealth and not just to leave everything in the hands of government and I think majority of those involved in Bitcoin understand that fact.
Bitcoin is a currency, an investment. Its use is up to the individual, and there is nothing wrong with people just seeing it as an investment. If you don't like to use it for investment, then you can use it as currency, you don't need to care about others. You just have to remember that, as long as bitcoin creates value and benefits people, that's bitcoin success.
I have no idea why you're creating a wall of text, it's really hard for me to read your post, other users might feel as well.
After all Bitcoin can be viewed as a currency or as a speculative asset, for country which accept Bitcoin as a currency, we can use Bitcoin for both. But for most people which not accept Bitcoin as a currency, we can still trade and hold Bitcoin.
Actually Bitcoin stored in centralized exchange and banks are same, you're don't have full control over your money.
After all Bitcoin can be viewed as a currency or as a speculative asset, for country which accept Bitcoin as a currency, we can use Bitcoin for both. But for most people which not accept Bitcoin as a currency, we can still trade and hold Bitcoin.
Actually Bitcoin stored in centralized exchange and banks are same, you're don't have full control over your money.
Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.
I was once among these set of people who just sees Bitcoin as a means of investment not until I joined this Forum, where I saw a reason to read the Bitcoin Whitepaper and did research about how it helps in the field which it was created for.
Bitcoin as digital currency was created to make online payments to be sent from one party to another without the need of an intermediary.
I know people have various view of Bitcoin as some view it as an alternative to digital gold so they see it as a means of investment , some sees it as something that gives them total control of their money while they are other views but this is the most common aside from what it was created.
Though, they have a solid reason to justify their claims but in the end this is not the main reason or use for Bitcoin. It is just a part feature that bitcoin offer as a digital currency.
I don't really know how feasible is this my theory but this is how I see Bitcoin.
I see bitcoin Blockchain as a country, where those who works there are paid with Bitcoin "just like how every country pays their citizens working with the country currency (those who receives salary in other currency in a country, obviously works in an organization that is not from their own country)" and this is when the worker validate a block.
Just like how there are those who are unemployed, unable to get a job done or are caught lying to have completed done a job are not paid, so it's on Bitcoin Blockchain, those who are unable to validate a block (unemployed), unable to get a job done or are caught lying to have completed a job earns nothing. This are the proof of work mechanism.
When converting from one currency to another, the one with the highest value have a better edge (like if am converting from naira to dollar, I will be having less), Bitcoin is just another currency having higher edge than the other currency but just like how the rate from converting naira to dollar or any other currency may change, Bitcoin price also changes (though more volatile).This covers why bitcoin is seen as an investment.
Then the wallet is a unique bank, that is to say, it gives you total control of your money (except when you using a CEX, which though still gives you more control of your money than the Physical banks but not total control of it). Just as some physical banks are more secured and better than the others, so is it for the wallet so you have to find the most effective and secure option for you. Aside from this the rate anonymity depends on the wallet you use. This covers why bitcoin is view something that gives total control of one's money.
Like I stated before, there are various ways people view aside from the main reason it was created but if you check, you would see that all this are features that physical currency offers but with Bitcoin having more unqiue features to it.
Now Bitcoin as a means of payment:
When Bitcoin first came out, there where alot of criticism some saying it will make criminal activities such as money laundering, financing terrorism, Kidnapping easier and others speaking of how it not be accepted.There are other criticism which Bitcoin face, the criticism stood a ground at that time but not all are still standing and those critics of then and now, always try to find issues to speak against it and also not wanting to speak of uses of Bitcoin.
Bitcoin as a means of digital currency has covered almost everything of it field (if not all) as a means of payment with the off chain and on chain protocol which has been use to aid payment like multi sig wallet, Lightning network, Schnorr Signature, SegWit wallet and others makes transactions faster.
The multi sig wallet helps offer security, make not just a single person to get total control of an organization funds and also offers other benefits that helps the organisation. While the Lightning network, Schnorr Signature, SegWit wallet and some others are fixing the scalability issues.
Bitcoin core members are working hard to make bitcoin the best means of payment and though Bitcoin still have some issues but they will be fixed. I prefer to see bitcoin being accepted as a digital currency and not as an asset or anything because that what it is.
I was once among these set of people who just sees Bitcoin as a means of investment not until I joined this Forum, where I saw a reason to read the Bitcoin Whitepaper and did research about how it helps in the field which it was created for.
Bitcoin as digital currency was created to make online payments to be sent from one party to another without the need of an intermediary.
I know people have various view of Bitcoin as some view it as an alternative to digital gold so they see it as a means of investment , some sees it as something that gives them total control of their money while they are other views but this is the most common aside from what it was created.
Though, they have a solid reason to justify their claims but in the end this is not the main reason or use for Bitcoin. It is just a part feature that bitcoin offer as a digital currency.
I don't really know how feasible is this my theory but this is how I see Bitcoin.
I see bitcoin Blockchain as a country, where those who works there are paid with Bitcoin "just like how every country pays their citizens working with the country currency (those who receives salary in other currency in a country, obviously works in an organization that is not from their own country)" and this is when the worker validate a block.
Just like how there are those who are unemployed, unable to get a job done or are caught lying to have completed done a job are not paid, so it's on Bitcoin Blockchain, those who are unable to validate a block (unemployed), unable to get a job done or are caught lying to have completed a job earns nothing. This are the proof of work mechanism.
When converting from one currency to another, the one with the highest value have a better edge (like if am converting from naira to dollar, I will be having less), Bitcoin is just another currency having higher edge than the other currency but just like how the rate from converting naira to dollar or any other currency may change, Bitcoin price also changes (though more volatile).This covers why bitcoin is seen as an investment.
Then the wallet is a unique bank, that is to say, it gives you total control of your money (except when you using a CEX, which though still gives you more control of your money than the Physical banks but not total control of it). Just as some physical banks are more secured and better than the others, so is it for the wallet so you have to find the most effective and secure option for you. Aside from this the rate anonymity depends on the wallet you use. This covers why bitcoin is view something that gives total control of one's money.
Like I stated before, there are various ways people view aside from the main reason it was created but if you check, you would see that all this are features that physical currency offers but with Bitcoin having more unqiue features to it.
Now Bitcoin as a means of payment:
When Bitcoin first came out, there where alot of criticism some saying it will make criminal activities such as money laundering, financing terrorism, Kidnapping easier and others speaking of how it not be accepted.There are other criticism which Bitcoin face, the criticism stood a ground at that time but not all are still standing and those critics of then and now, always try to find issues to speak against it and also not wanting to speak of uses of Bitcoin.
Bitcoin as a means of digital currency has covered almost everything of it field (if not all) as a means of payment with the off chain and on chain protocol which has been use to aid payment like multi sig wallet, Lightning network, Schnorr Signature, SegWit wallet and others makes transactions faster.
The multi sig wallet helps offer security, make not just a single person to get total control of an organization funds and also offers other benefits that helps the organisation. While the Lightning network, Schnorr Signature, SegWit wallet and some others are fixing the scalability issues.
Bitcoin core members are working hard to make bitcoin the best means of payment and though Bitcoin still have some issues but they will be fixed. I prefer to see bitcoin being accepted as a digital currency and not as an asset or anything because that what it is.
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