1. Bitcoin has always been and will always be primarily a censorship-resistant medium of exchange. A person that says that Bitcoin's primary role is a store of value is short-sighted. If Bitcoin is a store of value, then what is the value that it stores? It is the value of being a censorship-resistant medium of exchange. There is no doubt that Bitcoin can be a store of value like any good money, but let's get the priorities right.
2. Some people have succeeded in making huge short-term gains in crypto, but most have not. Consider that most people bought most of their bitcoins when the price was much higher than it is now. That's what drove the price up in the first place. Now, they will have to wait a long time (years, maybe) before their investment will break even. In order to successfully invest in Bitcoin (or anything, really), you must have a long-term view.
3. Despite all the optimism and hype about Bitcoin, there are many good reasons for being pessimistic, and I believe that there is still a good chance that it will ultimately just fade away. I am a big believer, but I give it only a 70% chance of sustained low-level adoption, and only 10% chance of wide adoption. That has changed from my odds a few years ago: 50% chance of any long-term adoption at all.
Very interesting points, @odolvlobo!
Interesting to focus on the "censorship-resistance medium of exchange" for the true use of Bitcoin, and you're right. I guess because of the mass talking about cryptocurrencies, people are only seeing Bitcoin (and I kind of include myself in this) as another currency, or the "father" of all crypto, but the intrinsic meaning of Bitcoin is not that.
Thanks for pointing that out, it does indeed make you see Bitcoin through a different prism.
Regarding your view about Bitcoin fading away, can I ask you, are you talking specifically about Bitcoin only, or crypto in general?
And you mentioned that there are "many good reasons for being pessimistic".
Can I ask you what those reasons are?
Thanks again!