What are the official uses of bitcoin other then trading?

[Fatunad]

Bitcoin is like a gold, it can be a store of value, a safe haven to secure you financially in the near future.

It is a modern gold where its price increases in the market, its price is volatile and can't be manipulated easily by other people.

People chose to trade bitcoin because they want to make money with it as soon as possible depending on the market situation.

But some are just holding it because they are 100% loyal and believing on its potential to make reasonable increase in its price in the long run.

- Well, if the price of bitcoin can fall slowly or slowly rise then move in a small range, I can consider it as gold, becoming a store of value but unfortunately, our hearts will not be secure with bitcoin's pulse, instead of being slow and not moving like gold, bitcoin is just trying to speed up and decelerate very quickly to create surprises, storing value with bitcoin is relatively intimidating and risky for this reason. The most optimistic thing is still buying and selling then exchanging for altcoins to get more bitcoin

Movement doesnt signify or can be treated for it to be compared with gold.We know that it isnt really that on the way on treating up things but people do really love to connect the dots
if they do saw that it something that has some similarities but honestly they are just totally different.There are even people whom do talk about bitcoin replacing gold?Are they serious?
They dont know on what their talking about.They do better just study out some economics or financial subjects for them at least to have some idea on what are the words that theyve been saying.
When it comes to official uses of bitcoin then its clearly on what stated by its creator itself that this is a payment system P2p without any intermediaries.

[1715067279]

1715067279

[kayiboyu]

Bitcoin was created with the aim of being a currency and still serves as a currency.
However, Bitcoin has a huge price change in the short term, so people see BTC as a place for profitable investment. Perhaps in the future bitcoin will act more as a currency for speculation than as a currency for trading.

Some people even think that Bitcoin can be more stable in the future and the risk can go down to very low levels. Then they think it can be used as a currency also. But there is no way for the volatility fading away as it's Bitcoin's nature. So I think Bitcoin will not be the currency of any country in the future.

[xZork]

Of course, in addition to its investment value, Bitcoin is seen as a currency, and its characteristics are decentralized and anonymous.
There are many companies that accept bitcoin for payments like Amazon and Tesla, so people can't deny that Bitcoin is still a currency.

its nature is like a currency, but legalization of Bitcoin is still not acceptable in most countries so that Bitcoin is still trusted by many users to be used as an investment asset and even used as digital currency trading that can provide benefits. although the main purpose of bitcoin was created not as an investment asset but because its value is valuable so that many people are competing to invest in it in order to benefit from it.

Bitcoin is increasingly moving away from its original purpose and playing a different role.
Until now Bitcoin is seen as the gold of the crypto market, people use bitcoin to make a profit instead of using it as a currency.

[Silberman]

I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.

That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike.

[cabron]

I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.

That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike.

Just like the rest of the inventions that were used to something else instead. Satoshi meant it to be a digital currency but then like the nature of the currency, it could be traded like they do in Foreign Exchange. Just as how we use it to gamble these days, Casinos in crypto don't ask for KYC so its good for gambling.
Many of investors today are using BTC as a store of value, its where their wealth are and protected at least from inflation.  

[kopijos]

besides trading, the benefit of bitcoin is to be used as a payment currency, where now many e-commerce sites accept payments other than money. this is very easy and a new innovation for bitcoin in the future apart from trading

[mezzaluna]

Other than trading, people labeled Bitcoin as an Investment. It is a form of digital money that could basically be used in anything that we see fit in the digital world. Its versatility can really save any people who studies and earns from it since trading Cryptocurrencies can be a really hard job but the profit that can be gained is much better than having a day job BUT this would only work if you are really decided to earn within this Industry.

We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.

[oktana]

Will it only be used for investing/speculation as long as its price is this unstable?

IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.

[TimeTeller]

Other than trading, people labeled Bitcoin as an Investment. It is a form of digital money that could basically be used in anything that we see fit in the digital world. Its versatility can really save any people who studies and earns from it since trading Cryptocurrencies can be a really hard job but the profit that can be gained is much better than having a day job BUT this would only work if you are really decided to earn within this Industry.

We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.

In other words, bitcoin has a lot of uses now.
As more merchants are integrating the btc payment, people have now wider options to use this as a payment method.
However, a lot still prefer to store their coins or accumulate as much as they can, for the hope that one day, they will gain massive profit.
Either way, bitcoin is not only for trading purposes but it evolves to a lot more, greatly influencing the payment sector today.

[xZork]

Bitcoin is increasingly moving away from its original purpose and playing a different role.
Until now Bitcoin is seen as the gold of the crypto market, people use bitcoin to make a profit instead of using it as a currency.

Bitcoin is playing a role as an investment until now besides making money from trading. Even though people can use bitcoin for payment, people prefer to save their bitcoin from selling at a high price. If people have a large amount of bitcoin, it will not be a problem to use bitcoin for the payment. Maybe we need to follow the bitcoin journey to know the real use of bitcoin because that will be related to each country's government.

Yes, Bitcoin is having a very good price increase so people often keep it instead of using it to transact.
Besides, the fees are too high and the speed is slow, making Bitcoin unsuitable for small transactions.

[Silberman]

I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.

That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike.

Just like the rest of the inventions that were used to something else instead. Satoshi meant it to be a digital currency but then like the nature of the currency, it could be traded like they do in Foreign Exchange. Just as how we use it to gamble these days, Casinos in crypto don't ask for KYC so its good for gambling.
Many of investors today are using BTC as a store of value, its where their wealth are and protected at least from inflation.  

It always surprises me when people make that argument, it doesn't really matter for what reason things were designed what matters is what you can do with them, bitcoin is not only great currency but it is also a great form of investment so it is completely natural that people do not really want to spend their bitcoin that much when they have fiat available, it is way better to get rid of the currency that loses value over time than to spend bitcoin which we know gains value over time.

[Shasha80]

The purpose of Bitcoin was created by Satoshi Nakamoto to provide another alternative for conducting financial transactions without the need
to go through Banks. But the government considers Bitcoin a threat that can replace fiat, even though Bitcoin was not created to replace fiat.
So it would be too much if the government to ban Bitcoin, even though Bitcoin helps human life to be better with blockchain technology.
So the question of the opening post is that Bitcoin is not only used for trading, but it can be used according to its original purpose, namely
as payment. Especially now that the number of merchants who accept Bitcoin payments continues to increase,  this is a good thing so that
the Bitcoin adoption process can run fast.

[michellee]

Will it only be used for investing/speculation as long as its price is this unstable?

IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.

But besides trading, bitcoin can be an investment for people who do not want to trade. They can hold bitcoin for some time and not sell their bitcoin, especially if they have a target sell price, so they only sell their bitcoin if the price can reach their target price. Only a few people will use bitcoin for the payment because they see that bitcoin is too worthy of being used for the payment. They see the other benefits of having bitcoin for them, so they want to maximize their potential profit in the future.

[oktana]

Will it only be used for investing/speculation as long as its price is this unstable?

IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.

But besides trading, bitcoin can be an investment for people who do not want to trade. They can hold bitcoin for some time and not sell their bitcoin, especially if they have a target sell price, so they only sell their bitcoin if the price can reach their target price. Only a few people will use bitcoin for the payment because they see that bitcoin is too worthy of being used for the payment. They see the other benefits of having bitcoin for them, so they want to maximize their potential profit in the future.

Well, to me, even though it serves as a speculative asset, I believe that it's core purpose for creation is for transacting. In fact, I think we should honour the pizza day every year (in respect to achievement it has brought us).

[yazher]

One of them is an option to be your salary like the other day I read about it wherein some of the company in the UK if I'm not mistaken, they give you an option to choose whether you want your salary to be full cash or to be BTC. that's one thing I can add to your list and I'm sure there are lots more options out there. Also in our country, you can use it now to buy some goods in the 2 main online stores and they will also accept it from you with the help of our local exchange of course.

[Alucard1]

I don't think that the number one use of bitcoin is trading, investing is much popular than trading because most of beginners don't even try to trade because that is much riskier than investing a bitcoin, there are other uses of bitcoin aside from investing and trading. We may also use bitcoin for online transactions, online payment, and money transfers. I am also using bitcoin to send money to my relatives, this is only applicable if the one who is going to receive bitcoin knows about it. There are a lot of good things that we may have in bitcoin and the best thing that bitcoin can give to us is income.

[michellee]

Will it only be used for investing/speculation as long as its price is this unstable?

IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.

But besides trading, bitcoin can be an investment for people who do not want to trade. They can hold bitcoin for some time and not sell their bitcoin, especially if they have a target sell price, so they only sell their bitcoin if the price can reach their target price. Only a few people will use bitcoin for the payment because they see that bitcoin is too worthy of being used for the payment. They see the other benefits of having bitcoin for them, so they want to maximize their potential profit in the future.

Well, to me, even though it serves as a speculative asset, I believe that it's core purpose for creation is for transacting. In fact, I think we should honour the pizza day every year (in respect to achievement it has brought us).

Yes, bitcoin is for the transaction like money that we used. People will have their own choice, whether to make a transaction or trade or even for the investment. They will choose whatever they think they will feel comfortable and they are free to use bitcoin, even for illegal activity. I prefer to use bitcoin for trading and investment because I see the potential from bitcoin that can profit and make money.

[Pom_bensin]

the use of bitcoin is not for investment, but now it is being developed for real payments. for example Tesla accepts payments using bitcoin, this is one of the real uses of bitcoin that the public accepts. it's just that only a few countries still accept it, not all countries accept bitcoin payments.

[matchi2011]

the use of bitcoin is not for investment, but now it is being developed for real payments. for example Tesla accepts payments using bitcoin, this is one of the real uses of bitcoin that the public accepts. it's just that only a few countries still accept it, not all countries accept bitcoin payments.

That's the beauty of having institutional investors as they are adopting also the system and use it from their service.
Now  it's no longer for investment but for real use as well.

We do expect more big names, Tesla and Paypal then there are many more businesses to embrace this system and
use it for their service.

[ivankoh]

Bitcoin becomes scarce between miners and owners.  To put it simply, speculative bases dominate today and who will credit the bitcoin mining process?  to be sure, such entrenched interests will cause conflict. 
And yes, you have the full range of ways to use bitcoins, not necessarily speculating under any circumstances you want to do with them.  Shop, gift, give ... it's free to use, it's just how you will use it!