Currently, I use Bitcoin as an investment. Bitcoin payments can be made in many places, but Bitcoin payments still require fees. I also tried the Lightning Network. Yes, the Lightning Network is more convenient, but Bitcoin is still very volatile now. If it is used for daily payment, I will not consider it now, and I will continue to hold it.
You can have both investment and payment.
Topic: Is Bitcoin an Investment or Payment form? Has it lost its purpose? - page 2. (Read 432 times)
August 01, 2021, 10:49:38 PM
August 01, 2021, 06:42:33 PM
Ha! It's confusing and surprising to see that I'm the one and only person who voted "Payment". I mean, I understand we all have our own opinions but do you really think Satoshi did this to create an investment portal? To me, It was created for Payment purpose, even though it serves other purposes. It's just like what Laszlo did. To make proof that this payment system works, he bought pizza with it. Think of it, do you think Laszlo doesn't know where he could buy pizza with fiat? He clearly stated in his post "You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins". So, based on some other factors too, the investment part just came along the way. My honest opinion.
August 01, 2021, 05:55:20 PM
Bitcoin is crypto currency and it could be an investment tool or a payment option depending on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.
Bitcoin can be used either as an investment or payment, it depends on us as Bitcoin owners. Everyone has different needs and goals when using
Bitcoin, I agree with you in the end we ourselves decide what to use Bitcoin for. But I prefer to use Bitcoin for long term investment, because it looks
at the history of Bitcoin price movements that continue to rise every year. Makes me more comfortable using Bitcoin for investment, after all because
in my country Bitcoin is forbidden to be used as payment, makes it a little difficult for me to use Bitcoin as payment.
August 01, 2021, 05:48:55 PM
It usually depends on what you can consider bitcoin is. On my own, so far I consider my bitcoin as an investment and I pay good attention to price changes because through, I may know the best course of action towards my holdings. I do not see it as an payment form although it can be since the value of it changes constantly. Maybe if I can see the value of bitcoin stabilizing and going higher, i might use it up as a payment form for convenience and to practice this privilege bitcoin has granted me upon.
August 01, 2021, 05:40:26 PM
With hour long payment confirmations, I just don't see it as a payment form in everyday life.
Do you mean Bitcoin transactions spend too much time? I think it is not true, only for the transactions of a big number of BTC that spend hours. While for daily needs, It shouldn't need a big number of Bitcoin. Moreover, as far as I know, Bitcoin has its developers, who are always improving the system. Someday, we may see faster transactions for Bitcoin. So, don't be worried about the transactions time, it is not a too big deal. This won't make Bitcoin lose its purpose as a future currency.
August 01, 2021, 04:58:53 PM
let's be honest:
Does anyone here in this thread use bitcoin as a payment method?
i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide
Does anyone here in this thread use bitcoin as a payment method?
i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide
Yes, I use bitcoin as payment method. Although, not as often now that I am accumulating, but I still do so from time to time. Other altcoin currencies are not yet on par with bitcon.
Although litecoin has faster transactions and lower fees, it is not widely used across all online stores and services as bitcoin.
August 01, 2021, 04:47:23 PM
Bitcoin is crypto currency and it could be an investment tool or a payment option depending on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.
August 01, 2021, 04:41:13 PM
actually for now bitcoin can be used for both in the sense that it can be used as a tool for investment and can also be used for payments because if you look that way bitcoin can be used as both.
but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment
Bitcoin could do both things the only issue here is about legality but it wont really be that possible if we do talk directly because bitcoin is decentralized.Government could only make out some but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment
involvement into those merchants or companies that do engage with it but overall it cant really influenced on how it do works.Lost its purpose? No it havent.It is just people are saving up
Bitcoin since they have seen the potential when it comes to make profits this simply means that they are holding it instead than on spending it actively.
August 01, 2021, 04:25:26 PM
let's be honest:
Does anyone here in this thread use bitcoin as a payment method?
i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide
Does anyone here in this thread use bitcoin as a payment method?
i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide
August 01, 2021, 03:45:10 PM
Purpose of bitcoin goes with the actual user, some people out there use it as an investment others use it as a mode of payment.
But personally I think it can be used for both investment and mode of payment.
Losing purpose I don't think so why would you say this, price is going up... more people want to have some bitcoin, isn't this an indication that people have purpose for bitcoin.
But personally I think it can be used for both investment and mode of payment.
Losing purpose I don't think so why would you say this, price is going up... more people want to have some bitcoin, isn't this an indication that people have purpose for bitcoin.
August 01, 2021, 02:45:45 PM
Bitcoin is a digital asset. you can use your asset as a payment method & as an investment as well. Most of us are doing online stuff and getting paid through Bitcoin. Many Buyers are offering freelancing jobs on online platforms and paid the employee through Bitcoin getaway cause they want to avoid monthly salary, basic employees.
On the other hand, the Bitcoin market is volatile and opens an opportunity for investors to take the advantage of volatility. People can invest in the long term or can do short trading as well.
so, you can take Bitcoin as a payment method, and also you can invest in it for long term or short term.
On the other hand, the Bitcoin market is volatile and opens an opportunity for investors to take the advantage of volatility. People can invest in the long term or can do short trading as well.
so, you can take Bitcoin as a payment method, and also you can invest in it for long term or short term.
August 01, 2021, 02:26:21 PM
actually for now bitcoin can be used for both in the sense that it can be used as a tool for investment and can also be used for payments because if you look that way bitcoin can be used as both.
but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment
but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment
August 01, 2021, 01:18:53 PM
Bitcoin "can" be used in other platforms, which means it can be used as a payment platform, which means it isn't designed for it, but it can be used. So I don't think it's lost its purpose because it still enables peer-to-peer transactions via a decentralized system.
People buy BTC and sell it when they want to take advantage of market change, more likely an investment if we look but the p2p transaction still remains.
People buy BTC and sell it when they want to take advantage of market change, more likely an investment if we look but the p2p transaction still remains.
August 01, 2021, 01:14:50 PM
No, I don't think Bitcoin lost its purpose anyway. Aren't many companies have been accepting Bitcoin? But yea, we can't ignore most people select Bitcoin as a potential investment. We can't or shouldn't prevent them, but it doesn't mean really Bitcoin losing its purpose why has it been created. I can't blow up your concern about transaction delay, but it really depends on the fees that you are using. There are a few features that would reduce fees and speed up transactions duration like SegWit & Lightning networks. Hope it will reduce transactions delay problems.
Bitcoin was primarily created as an alternative means of payment to the current payment system. However, like any money, it also performs a number of functions inherent in money, including as a means of preserving value. However, Satoshi Nakamoto probably did not expect that the function of preservation of value would be so prevalent in it that people would use very little bitcoin as a means of payment for the purchase of goods and services. Of course, if people see that bitcoin is constantly increasing in value and simply holding it brings them large profits, it makes no sense to use its other functions. It's like slaughtering the goose that lays the golden eggs. August 01, 2021, 12:59:25 PM
No, I don't think Bitcoin lost its purpose anyway. Aren't many companies have been accepting Bitcoin? But yea, we can't ignore most people select Bitcoin as a potential investment. We can't or shouldn't prevent them, but it doesn't mean really Bitcoin losing its purpose why has it been created. I can't blow up your concern about transaction delay, but it really depends on the fees that you are using. There are a few features that would reduce fees and speed up transactions duration like SegWit & Lightning networks. Hope it will reduce transactions delay problems.
August 01, 2021, 12:48:22 PM
With hour long payment confirmations, I just don't see it as a payment form in everyday life.
A quick confirmation doesn't equal a better or safer transfer of value. Credit cards seem like they confirm your transaction in seconds. But that's not final, only your balance (the credit) gets updated. In the background, the transaction needs from 1 to 3 business days to be processed. Not only that, but they are reversible for up to 6 months. Bitcoin doesn't take three business days to confirm and it also doesn't have international limitations or restrictions. If you have paid a good enough mining fee, your first confirmation will arrive after 10 minutes on average and you already have full control of your money then. Six confirmations is often used when dealing with big amounts or cryptocurrency exchanges, and those will come within 1 hour in optimal network conditions. They are irreversible, and no one can block your non-custodial wallet or ask you any questions.
Bitcoin is a great hedge against inflation. The money in my bank losses value constantly and the purchasing power decreases year after year. And the bastards keep inventing new ways to take bits for themselves. Their newest scheme is forcing users to invest in their eurobonds, otherwise, they deduct a small percentage from your account each month.
August 01, 2021, 12:47:02 PM
Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that?
This was expected once the institutional investors starts investing expecting to earn money in a short period of time and you cannot complaint if they expect that and if you are using it as a form of payment, it is good for you because majority are hoarding the coins than spending them.With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?
I have no idea whether you made any payments recently because you are claiming that it takes a long time for confirmation and i am making transactions often and i will get the confirmation in 20 minutes with lower fees and Bitcoin is used as an investment for years and it is nothing new. 
August 01, 2021, 12:06:24 PM
actually wherever we use our bitcoin, we will never lose the function of bitcoin, in fact the emergence of bitcoin gives us freedom in all aspects, wherever we use bitcoin we certainly have its own purpose, it is impossible to lose its purpose, bitcoin gives a new nuance in our lives, if we invest in bitcoin, our goal is definitely to seek profit in the future. it's all up to us, which direction we are going, because bitcoin gives us true freedom..
August 01, 2021, 12:04:44 PM
You should add 3 point in response to the pool you created.
3. Investment and also mean of payment
The confirmation time really depend on the network and transaction fee you use. But I'm quite happy for the last 3 weeks because the transaction fee is quite cheap which is around 1 sat/byte and you only need to wait 10-30 minute to get confirmation. Using bitcoin as a mean of everyday payment really depend on the country you live in and how many merchant are willing to accept bitcoin as a mean of payment. If you live in El-Salvador, you'll probably get used to using it every day because they have legal regulation to use it as currency.
3. Investment and also mean of payment
Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that? With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?
Don't ever think that if there are many institutional investors who own hundred of thousand of bitcoin, it has eliminated the usefulness of bitcoin as a mean of payment. Bitcoin has the same function as a currency and bitcoin can also be an investment and trading asset so that it will always be used by users. The function of bitcoin as a currency will remain regardless of how many people want to use it or not.The confirmation time really depend on the network and transaction fee you use. But I'm quite happy for the last 3 weeks because the transaction fee is quite cheap which is around 1 sat/byte and you only need to wait 10-30 minute to get confirmation. Using bitcoin as a mean of everyday payment really depend on the country you live in and how many merchant are willing to accept bitcoin as a mean of payment. If you live in El-Salvador, you'll probably get used to using it every day because they have legal regulation to use it as currency.
August 01, 2021, 11:59:49 AM
BTC is too slow, the TPS are too low, the fees are too high, the ledger is impractically large and it lacks privacy for it to be anything other than an investment option. Other cryptos are better options and will supersede it eventually.
Jump to: