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To be honest, no one wants to treat bitcoins as a mode of payment. The reason for this is very simple. Bitcoins are limited in numbers and that is no more Bitcoins can be created or made, hence people will treat is as a digital asset only. People rather than giving it as a payment, will hold it and accumulate it. Yes, initially it might be developed to pay online, but now the meaning has completely changed.
I have to agree with this. People nowadays seem to be more greedy as it is. Bitcoin is a highly profitable digital asset or investment, and grows its value along with time, that’s why a lot of us prefer to buy and hold it for long term than to serve its purpose as a mode of payment. Now, even if you are living in a country where bitcoin is accepted as a payment option, I don’t think you’ll be more willing to pay using bitcoin more than fiat. No one would waste spending its hard-earned bitcoin when we all know majority are greedy to have it. Besides, bitcoin has the highest ROI among other investments, which attracted a lot of people to save bitcoin for investment rather than having it as a currency for payment.The sole purpose of Bitcoin now is to invest, hold, and wait for the price to increase. It sounds odd. What factors contribute to the increase in Bitcoin's price despite its lack of tangible value in real life?
I become more confused as I study Bitcoin further. It seems simple, but upon deeper reflection, it is not simple at all. People believe that the price of Bitcoin will rise, which is why more people buy and hold it. However, Bitcoin does not have any practical applications in real life. Many wealthy individuals profit from this belief.
