Bitcoin is here to stay

[enterprevic2]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

Possibly—but only possibly.

The temptation to talk about bitcoin as the sole product of its inventor’s brilliance has grown during the crypto bubble because, as we know from the history of equity markets and from history as a whole, perception is all. And with a product as new as bitcoin, the halo effect is just enormous.

People talk about bitcoin because they can. After all, even if it has a host of technical limitations and flaws, it is not as boring as the existing consumer-facing products from the payment sector. And bitcoin is not as easy to move money as, say, the ability to convert cash to gold or fiat currency (the dollar, yen, pound, euro). But it’s a hedge, or an investment, or a speculative play, or a currency trading instrument, and those are all ways of getting one to your place of business, or to the point of travel, or to a lender. And, hence, it’s all there in one place, in crypto.

And, especially as I indicated here, it is far easier to talk about bitcoin than to talk about gold, and perhaps even to get people to look at fiat currencies. In that sense, bitcoin is both a new form of money and a solution to the demand for money among an otherwise invisible set of people.

Although bitcoin is a speculative play, I also think its rise tells us something very much larger about how our financial systems work—even if we haven’t come to terms with those larger forces.

Bitcoin is hardly the first effort to create some sort of secure virtual currency that was supposed to replace the US dollar, or a basket of other currencies, or whatever. But here is my problem: I don’t understand how money is supposed to be created. The same people who worry about the lack of transparency in many virtual currencies are of the same people who do not fully understand how accounting works, yet they throw around nearly impossible-to-review theories as if they were all knowable as gospel.

https://www.truepnl.com/

[1715463788]

1715463788

[minersday]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

It's very unfortunate that a lot of people do not see and think Bitcoin is a currency but an investment asset.  If you take a look at the whitepaper of Bitcoin, Satoshi developed Bitcoin to be a digital currency rather than a digital investment asset. Personally, I will be very glad if people can see Bitcoin as a currency rather than an asset.

[roadrunnerjaiv2025]

The first step to bitcoin adoption is to accept that it's a currency. After all, it's competing against fiat money, which is also a currency (in terms of the goal to decentralize the financial system). Imagine inventing the time machine, but after introducing it to the public, it was accepted and used as a teleportation machine instead. That time machine will never serve its purpose. 

[bitmover]

It's very unfortunate that a lot of people do not see and think Bitcoin is a currency but an investment asset.  If you take a look at the whitepaper of Bitcoin, Satoshi developed Bitcoin to be a digital currency rather than a digital investment asset. Personally, I will be very glad if people can see Bitcoin as a currency rather than an asset.

More important than looking at the whitepaper is to look what people are doing with it,.

Bitcoin is an investment asset AND a currency. Just like USD is. Lots of people buy USD as a hedge as well.

Bitcoin also serves as a currency .Just take  a look at the services board. So many people working for bitcoin. Basically anything that can be done online you can get paid with bitcoin.

[pooya87]

This is a mistake.
For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

that's just your opinion

After all, even if it has a host of technical limitations and flaws,

show me one invention in the entire human history that doesn't have limitations and flaws.

the trick has always been to create something that is better than its predecessors, to solve problems in a better way than others and to improve different aspects of the existing systems (in this case payment system) and bitcoin has done that very well.

And bitcoin is not as easy to move money as

you are right, it is so much easier to move bitcoin than it is to move money because there is no bank (aka the middle man) to interfere and cause problems and slow things down or even block you.

But it’s a hedge, or an investment, or a speculative play, or a currency trading instrument, and those are all ways of getting one to your place of business, or to the point of travel, or to a lender. And, hence, it’s all there in one place, in crypto.

again that's just your opinion.

In that sense, bitcoin is both a new form of money

you don't have consistency in your statements, you just contradicted yourself!

Bitcoin is hardly the first effort to create some sort of secure virtual currency that was supposed to replace the US dollar, or a basket of other currencies, or whatever.

bitcoin IS the first successful decentralized currency that was created and has been running for more than a decade servicing lots of people all around the world 24/7.
but it was never meant to replace anything.

ht tps://www.truepnl.com

what's this spam link doing here?!!

[mk4]

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

I've said it a lot before, and I'm going to say it again. Bitcoin is for whatever you want to use it for. You think bitcoin is only mostly an investment and a speculative hedge? Whatever, I'm going to use it as a currency anyway. Why? Because I can.  And that's the whole point of bitcoin. Freedom and sovereignty with your money.

[hd49728]

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

Bitcoin is not a currency, not money. It is an asset, digital asset in more correct term.

As an asset, you can hold it even it has no value. You can imagine an asset like antique equipments. They have almost no value in the past (centuries ago) but now if you found them, own them, you have a fortune. Bitcoin is different than that, at least if you are talking about it at the moment. It has big value, thousand of dollars for one bitcoin. In the past, 10 years ago, it has zero value.

Stop calling bitcoin as a currency, money, and consider it as your own asset, your own bank.

[btc_angela]

Bitcoin has evolved so much since it's inception, so obviously, it become a form of digital money, an speculative asset, store of value. It's really up to those people who believed in it on how they're going to treat bitcoin. But to replace USD? I don't think we can get to that goal yet, but as I have said, if I have a chance to use it a form of money to buy and then pay someone then I will used it, been during it for the last 2 years and I don't have a problem with that. Although there could be people that will argue to just hold on it.

[piebeyb]

Initially I thought bitcoin was a currency that was easier to use on the internet, since 2011 I saw many people looking for money on the internet, I saw the difficulty of people at that time getting money from the internet, they had to use a paypal payment service and had to activate a credit card, at that time not everyone had a credit card and it was very difficult to follow any online business, after bitcoin came it became easier now when getting paid with bitcoin, but nowadays people think more of it as a hedge or just a digital asset, even though I used to think of it. as an internet currency that is easier than others, to be honest I still use bitcoin to buy domains, hosting and also vps

[Reatim]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

It's very unfortunate that a lot of people do not see and think Bitcoin is a currency but an investment asset.  If you take a look at the whitepaper of Bitcoin, Satoshi developed Bitcoin to be a digital currency rather than a digital investment asset. Personally, I will be very glad if people can see Bitcoin as a currency rather than an asset.

This is still the arguments going until now,there are People believe that this is a Asset while others believe this is a currency that must need to circulate.
and that is the serious problem because Many tries to impose that they want
Bitcoin to be a currency but all they do is Buy and HOLD things that i see against the
Beliefs of being a Currency right?like each government are not allowing people to Handle too much Money on hand because those are need to circulate,
specially in Coins that has only limited amounts and to pricey for creating.

[Wexnident]

Sad how most of those new to the scene think of Bitcoin as an investment instead of what it really is for and as intended by the creator. Though they can be used as an investment right now due to how it's volatility tends to bring more profit in the long term, in the end, it'd be limited by supply which would severely limit its ability to become an investment.

~

Well, with how Bitcoin developed, it isn't really surprising. Still to deny either is denying bitcoin itself, since Bitcoin can be considered both, an investment as well as a currency. Plus, it's usage as a currency is severely limited due to it being volatile, which makes merchants doublethink on whether they should adopt bitcoin as payment or not. After 10 years, you can only see limited amounts of shops that actually accept Bitcoin as payment. Most of the usage right now comes to either trading or worldwide transactions to make it a lot easier.

[AniviaBtc]

The first step to bitcoin adoption is to accept that it's a currency. After all, it's competing against fiat money, which is also a currency (in terms of the goal to decentralize the financial system). Imagine inventing the time machine, but after introducing it to the public, it was accepted and used as a teleportation machine instead. That time machine will never serve its purpose. 

Let's accept the fact that we are living in a more advanced technology nowadays and digital currencies should be treated as a normal currency. There are a lot of people who are not treating digital currency because it only exists in a virtual world. But they should understand the existence of a blockchain technology and most of the people are still not knowledgeable about it. They think that bitcoin is just a currency that has no value, it is a fake asset for investments which is not. Bitcoin adoption is hard to achieve if we can't help the bitcoin's reputation to become good in our society.

If people can invent a phone a light and use it in our daily lives, why can't we apply and adapt it also in bitcoin?

[Xembin]

I think Bitcoin came to develop every life of the societies. Different countries of the world has been testified, how bitcoin has changed their economy positively in this pandemic.
Many has used it as an investment to earn profit in their organization.

[NeuroticFish]

But here is my problem: I don’t understand how money is supposed to be created.

Knowing you have this problem, you should not have such strong opinions. Because, you know, you may have missed or misunderstood something.
So, no offense, but your point is completely invalid.

[serjent05]

But here is my problem: I don’t understand how money is supposed to be created.

Knowing you have this problem, you should not have such strong opinions. Because, you know, you may have missed or misunderstood something.
So, no offense, but your point is completely invalid.

Good catch.  One cannot justify something if he fully missed the most important factor and that is understanding how money works.  With that statement, OP had invalidated any argument he is offering to his audience.  Thus anything that he said before and after that statement to correlate about Bitcoin being not currency shouldn't be taken seriously.

[Sapphire915]

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

I've said it a lot before, and I'm going to say it again. Bitcoin is for whatever you want to use it for. You think bitcoin is only mostly an investment and a speculative hedge? Whatever, I'm going to use it as a currency anyway. Why? Because I can.  And that's the whole point of bitcoin. Freedom and sovereignty with your money.

Yes, I agree. Bitcoin is being made and designed the way we used, trust and believe it. Its our belief and knowledge about Bitcoin that made its great features possible in any financial management, more likely on investment and profits. We lose, we gain, its how we handle it in our personal ways depending on what we learned here in Crypto world. Definitely, its really similar to fiat/physical currency...but can only be used virtually.
But can be turned into fiat anytime we want to cash out.

[Reid]

What's with the importance of branding bitcoin or putting it in line?
Is it really made for that?

IMHO, it's a commodity/currency. But that's just me. My opinion. Some people may have a different way of defining or using it.
Could be as an investment or just an asset. Doesn't matter. For now.
Somewhere in the future, we won't escape reality. It is a currency. Period. You can use it to buy things and that's all that matters.

[oprahwindfury]

It has been a long time Since bitcoin is here.8-10 years from now bitcoin's value was very low but it had upgraded  itself and right now people are watching it as an asset.Some people’s  are also using bitcoin as a currency.Most of the online payments and online earnings are made by bitcoin so it has great value and position in our life.Agree with the comment "talking about the bitcoin is far easier than talk about gold.
People,specially the youth's are showing interest and gaining knowledge about the bitcoin and it's trading.Gold has a good value but holding it, is not as much profitable as bitcoin.so From each and every scope now bitcoin is  an useable and profitable currency.Also,Day by day it is getting easier.
So must say bitcoin is here to stay.

[SomeJasonGuy]

in some form of the other, yes. Even if it's value goes to 0 there'll also be a recorded history of it on the blockchain, so technically it's built to last forever. The bet however is that it's here to stay AND has value down the line, which I'm sure it will have even 20 years from now.

[hatshepsut93]

Bitcoin is here to stay, even in the unlikely case it will lose most of its value and users, the network will be alive as long as someone is still using it, because the technology is that good. Bitcoin filled a unique niche - a way to transact money without middlemen, so the only way Bitcoin will disappear is if someone will do this task much better, but so far there has never been a coin that is even close to being a serious alternative to Bitcoin.