Topic: Lets think Bitcoin as an investment not payment system, is this right? (Read 534 times)

How he came to the conclusion that the entire population dealing with bitcoin think of it as an investment rather than a payment system, did he undergo any research to come to that conclusion or he consider that as a investment and he came to a conclusion that the majority of the popular thinks alike  .

You think that the rest of the world does not understand that bitcoin will be the next big financial boom and only the Chinese understood that  . The reason for China having big mining farms is the climate and the ASIC manufacturing unit is located in China and the low electricity charges, low labor charges and many more.

Most of us thinks that China is against Bitcoin, this article somehow changed my POV.  It is a good thing that China also thinks of Bitcoin in a positive way.  Though it may not be what we think it is, thinking as it is an investment can pave way for Chinese government to fully adopt Bitcoin.

We can use both, only because having invested in Bitcoin we can't use it as payment. There are no restrictions at all on using Bitcoin if people want to invest or use it as payment, use it as it should.

I think the electricity is the most factor that the citizen of China have a majority being a miner of bitcoin rather than the other countries. As for the using of bitcoin being an investment has been done by most bitcoin users, they have thought like that since the bitcoin price is so volatile rather than the other investment. Someone can increase their money in overnight if the price is increasing but it is otherwise when its price going down.

Other than that the government of China still ban bitcoin as payment system so as the user will have a little chance to make transaction through bitcoin. Even, there are many information who tell that the government of china will make their money based on blockchain and their plans can be said uniquely because they will send the money to some merchants who has popular in their country such as Alibaba etc.

This thinking have to change, as bitcoin price increase is slowing down with maturity. Perhaps until now, and perhaps for a little bit further, you could thing of bitcoin as "investment", but in the future, you should rather think of bitcoin as value preserving.

First, think that anything fiat loses value, depending on place from 2% to millions % yearly. So to avoid this, you should move your savings into bitcoin or gold. Then, of course at some point you want to use a bit of your savings, and that is when you can simply spend it directly rather than the inconvenience of exchanging it for fiat first.

Don't expect just buying bitcoin will give you so much profit you can quit your job. That might have been the case in the beginning, but with each passing day it will be less and less true. You will never get the giant returns people who invested early made in the past. Those times are gone.

Even if you don't want to see it as a payment system, look at it as a money (wire) transfer system. For this purpose Bitcoin is perfect as it is, and of course to save your money from induced inflation from the misled ruling governments and institutions following school of Chicago dogma.

With a lot of people investing in crypto currencies, and also those investors earned a lot of profit for a long time that it is available, people would be wanting to also experience that profit with the volatile cryptos. Some investors don't want bitcoin but there are a lot of them that wanted it, I guess it depends on the user whether how will they treat it maybe as a payment system or an investment.

By pursuing the sole purpose of this system, it can be both done as payment process or as an investment asset to hold value after some time. The adoptions that will happen along the way will create the momentum, bringing the value of your assets to rise high. More end-users will make things more successful from both end of the line, investment and a payment tools can be coordinated and will work together for the best outcome.

Agree, these arguments are useless when bitcoin can perfectly represent its value in both payments and investments, many sources of information have shown these features, so there's no need to discuss, besides, bitcoin is just a tool, how to use it is like you said, the user will decide. And perhaps most people here just prefer to think of bitcoin as an investment because it brings real value, through bitcoin, the wealth of many people increases over time with rational investment plans, very few people use it as a payment system, it's possible but not common

Chinese I think are better savers then most of the western countries where we build up debt and try to pay it back later.   I think this would be more about the Chinese attitude towards business and being willing to invest into a situation to make a profit trading; so yes they withhold alot of their wealth and may not spend it like our western consumer society.    
   I would still hold that Bitcoin by itself cannot just be held and be called an investment, much like gold you are doing nothing at all by just holding it and not participating in a business.   So at best we can call this commodity speculation, you buy a scarce resource and hope that rising demand favors your withheld supply for a greater sale price then you bought.    Doesnt mean its wrong but thats not investment really, not to me anyway.
   Some will say investment is just buying and selling for more then you paid, I disagree I think it has to be an active involvement in business to qualify and so the investment is a yield given on that holding.    

   I will put it another way, if everybody held Bitcoin in this way and nobody wanted to use it as a payment system then we would only be favoring the alternatives and underlining why Bitcoin is not needed and so undermine the case for the resource we are holding.   It would all fall apart if nobody wanted to actually use Bitcoin, the investment must be active and ongoing as a cycle.  I would encourage people to both buy and sell regularly, use the Bitcoin or we wont expand this market and demonstrate its ability to be fast secure useful currency all over the world.

^ Only people in China think that Bitcoin is good for the investment they never use this for payment system. We have the right to choose either to in investment or as a payment system. To help bitcoin circulate and make the price goes up, let us use this as a payment system not only for investment. The concept of white paper that made by Satoshi Nakamoto is bitcoin a cryptocurrency/digital money that intended for payment system in internet.

Whether it's an investment or a payment method, it can be both. Nothing to argue with that. It depends on the person holding a bitcoin if he'll use it for payment or just for investment since bitcoin can do both.

Nah, that's not a new thing to be honest. Most of us (I'm not and exemption for this), maybe even 99.9% of us here, also treat bitcoin as form of investment by playing its volatility and not by its true purpose. I do't know if it is a thing we should be proud of because for me it seems we are shifting from Satoshi's vision. Well, I hope this kind of mindset is only for now. I hope it will change sooner or later when the world almost fully adopt the use of crypto. Don't get me wrong, I like how I earn through btc but much better if it will be mainly used for having better transactions, right?

nothing wrong about it  . not just china or chinese but other country and other people do also treat bitcoin the same and of course that included me because who will not resist the benefits of hodling a bitcoin as an asset where you can get unlimited huge income whenever the value fluctuate in an upward manner although this does not mean that people like us dont ever tried to use btc as a kind of payment method or a currency  . of course i do and i think others did also   .

Definitely Bitcoin is a hard money network, and the average transaction value will go only up (used more and more for big payments), due to increasing blockspace competition and parallel advances on second/third layer (with low or null fees) payment systems, with different degrees of decentralization.

At Bitrefill, Bitcoin onchain today still represents about 60% of our payments, the Bitrefill Bitcoin Account (centralized system with zero fees) about 10%, Coinbase integration (centralized, no fees) about 3.5% and Lightning Network (descentralized, very low fees) about 4%. The remaining 20% being altcoins (low fees, but if your holdings depreciate against Bitcoin it's also a cost).

With Lightning you can do smaller payments which are priced out in the base layer, and still holding hard money with your own keys. So the investment vs payments discussion is merely a layers discussion.
It is easier to grasp after trying it firsthand, so if you didn't already it is a good time to try a wallet with your pocket money: https://blog.bitrefill.com/top-11-lightning-network-wallets-bitrefill-328b5465b1b4
And buy something on bitrefill.com, try the other Lapps in the Breez or bluewallet's marketplaces, or the ones reviewed here: https://blog.bitrefill.com/the-hottest-lightning-network-apps-lapps-in-2019-7baa25746d7d

In its early years, I would say that the plan for bitcoin is to be a payment scheme.

But when people started to see that there is a potential to make money, exchanges pop up and the journey begins as bitcoin has been touted as an investments, SoV and even compare to gold. But you can't blame how people, it has evolved so much in the last ten years.

The best thing is that we as crypto enthusiast can take advantage of both, use it as a payment system and then have some in your wallet as long term hold.

Let's face it most of us are seeing Bitcoin that way .
Most of the new in crypto or those who got into crypto back in the 4th quarter of 2017 see's it that way.
They just came because of the profit they doesn't really know much about crypto.
And base on how people commented on my old thread it shows that most of us are only looking at it as an investment and doesn't really wants to use it as a payment method.

In life, we have different perspectives or how we view that kind of thing like Bitcoin.

Some people may think that Bitcoin’s an investment, while others are thinking of it as the future payment system. As for me, I think of it as both.

Due to Bitcoin’s limited supply, we think of it as an investment where it would appreciate or depreciate its value. At the same time, it can be treated as an alternative payment method where it provides transparency to all of the transactions we initiate.

As far as my concern about thinking Bitcoin as an investment and not as a payment system, I honestly disagree with that since as it can function as both. Just my opinion only.

Not only in China, in many countries bitcoin will remain as an investment rather than as a payment system. A good currency has its own rules that will never be fulfilled by bitcoin. Centralized and government control are the two most important things.

Bobby Lee is trying to give his own opinion and if we think that whole Chinese crypto users think same as Lee than its not gonna be a wise thing. Yeah its true that in their country mining is so popular but their local government isn't so friendly with the use of  bitcoin as an option of transaction. So crypto communities are diverting from using to mining.

Chinese are very fast to adopt new technologies and inventions too. During last bull run we have seen so many positive approach from the side of Chinese investors and users too. I believe Chinese crypto community will play an big role for the future progress of bitcoin soon. Just they are waiting to get the complete green signal  from their government.

They have their point of view, we have ours.

With the decentralization, volatility, and without tax, you can get good profits out of it.

We can't blame them for not looking at as an investment since a lot of people do too. They'd rather hold Bitcoin to earn in the near future rather than just save it so they can pay something using it. A lot of people are also holding it for the same reason, to get a profit out of it that is the reason a lot of people are saving it as an investment, not as a payment method.