Lets think Bitcoin as an investment not payment system, is this right?

[Ozero]

People invest, that is, invest their money in something always for some purpose. If we consider bitcoin only as an investment, then there can only be one goal - the expectation of an increase in the growth of its price. At a certain stage, it is justified. In general, every year the price of bitcoin is increasing. However, I do not think that this will happen endlessly. The price of bitcoin will not be able to grow for a very long time. In the end, everything comes at a price. To consider bitcoin only as an investment, this means using it only as a means of preserving value. However, with the current very high price volatility of bitcoin, this is not very convenient. Ultimately, this is everyone’s business. Everyone can, in their discretion, use any object or phenomenon of our or virtual world.

[Darker45]

I guess around 90% of Bitcoin owners do not treat it as a currency. Moreover, people who have yet to acquire BTC are also thinking of it as an investment rather than as a currency. Even in this forum, members are trying hard to earn Bitcoin not so that they have something to spend but because they want something to HODL. That to me is very obvious. This mentality does not have anything to do with race or nationality. It is a shared view all over the world.

This even goes out to strong advocates of Bitcoin. They market Bitcoin in comparison to gold. That is not how one markets a currency. That is how an asset is being compared and marketed. They are not attracting the consuming public. They are attracting the investing public.

[leea-1334]

I remember reading a few years ago that Chinese also see ICO and crypto as speculation not investment. And judging from how I know them and the way they buy Bitcoin plus other crypto, it is the same.

But that is also mostly true for most of the people on this forum and I do not think there are very many Chinese here.

[adaseb]

Yes many people think of Bitcoin as a speculative asset basically like the stock indicies like S&P 500 or NASDAQ 100 futures rather than as a medium for paying for goods and services. However this is a big no-no in my opinion.

I think Bitcoin needs to be used MORE as a payment system rather than just traders trading left and right. Its utility was proved about a decade ago when someone used it to buy 2 Pizza's and it was smooth sailing since then. However lately people are mostly interested in getting rich rather than the underlying technology, which is a mistake.

People need to realise that if you want the price of bitcoin to be higher, then you need to spend it.

[Tipstar]

There are many things that makes bitcoin as an investment and not the payment system and I'm quite sure Satoshi was well aware of it and actually had planned it to be the way it is.
It is limited in supply, the minting of coins continues for a long period of time but gets smaller in amount.
In that sense you can call bitcoin the largest online ponzi ever created but again similar are other monetarily systems.

[izanagi narukami]

Consider bitcoin as investment and payment as the bonus or advantage for using this kind of currency.

Why you should not make it as payment because the value still volatile until now so if you can afford to loss for holding it, better find another payment method ( fiat better )

[whtchocla7e]

In my opinion, having both purposes includes investment and payment. Its purpose is to be able to become a global payment medium through blockchain technology, the internet.

[Kakmakr]

The Chinese has always been the risk takers and many of them like to gamble, so Bitcoin is the perfect "gambling" tool for them, because it is a high risk investment. They also have a very rigid government that would never allow Bitcoin as competition for their reserve currency, so that is why they would rather accept it as a commodity and a investment option.  

Just remember that fiat currencies are used for payment and for Forex Currency trading, so Bitcoin can also be both.    Let's decide for ourselves and not be influenced by people with a narrow vision for Bitcoin's future.  

[jaocoincrypto18]

I think majority of the Crypto currency enthusiast are treating Bitcoin as an investment and not as currency for direct spending that is why there are so many crypto currencies that are now created in the market by some individuals so that they could follow the path of Bitcoin to have their own prosperity.

[davis196]

Bobby Lee — co-founder and former CEO of China's first crypto exchange BTCC — says the Chinese have always thought of Bitcoin as an investment rather than a payment system.

Lee made his remarks during an interview for Charlie Shrem’s Untold Stories podcast on Sept. 18.
https://cointelegraph.com/news/bobby-lee-chinese-always-saw-bitcoin-as-investment-not-for-payments

- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?

If the Chinese government again provokes citizens to a rally, then I think the Chinese will abandon the Yuan in protest and will use Bitcoin as a means of payment.

Abandon the Yuan and protest???Are you kidding me?I guess you don't understand how things work in China.
Bobby Lee is right and it's not only the Chinese,who view bitcoin as an investment.Probably 90% of all bitcoin users view it as an investment and that's why bitcoin has a high value-due to the HODLers,who believe in the future value of bitcoin and that's why they keep HODLing.

[Janation]

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.

[TalkStar]

In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?

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.

[batako]

Bobby Lee — co-founder and former CEO of China's first crypto exchange BTCC — says the Chinese have always thought of Bitcoin as an investment rather than a payment system.

Lee made his remarks during an interview for Charlie Shrem’s Untold Stories podcast on Sept. 18.
https://cointelegraph.com/news/bobby-lee-chinese-always-saw-bitcoin-as-investment-not-for-payments

- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?

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.

[cheezcarls]

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.

[xvids]

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.

[Jating]

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.

[bitrefill]

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

[shoreno]

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   .

[NavI_027]

- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.

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?

[jake zyrus]

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.