Is Bitcoin an Investment or Payment form? Has it lost its purpose?

[finaleshot2016]

Bitcoin "can" be used in other platforms, which means it can be used as a payment platform, which means it isn't designed for it, but it can be used. So I don't think it's lost its purpose because it still enables peer-to-peer transactions via a decentralized system.

People buy BTC and sell it when they want to take advantage of market change, more likely an investment if we look but the p2p transaction still remains.

[1714474282]

1714474282

[terrorJR]

actually for now bitcoin can be used for both in the sense that it can be used as a tool for investment and can also be used for payments because if you look that way bitcoin can be used as both.
but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment

[Iranus]

Bitcoin is a digital asset. you can use your asset as a payment method & as an investment as well. Most of us are doing online stuff and getting paid through Bitcoin. Many Buyers are offering freelancing jobs on online platforms and paid the employee through Bitcoin getaway cause they want to avoid monthly salary, basic employees.
On the other hand, the Bitcoin market is volatile and opens an opportunity for investors to take the advantage of volatility. People can invest in the long term or can do short trading as well.
so, you can take Bitcoin as a payment method, and also you can invest in it for long term or short term.

[Woodie]

Purpose of bitcoin goes with the actual user, some people out there use it as an investment others use it as a mode of payment.

But personally I think it can be used for both investment and mode of payment.

Losing purpose I don't think so why would you say this, price is going up... more people want to have some bitcoin,  isn't this an indication that people have purpose for bitcoin.

[Slow death]

let's be honest:

Does anyone here in this thread use bitcoin as a payment method?

i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide

[Hamphser]

actually for now bitcoin can be used for both in the sense that it can be used as a tool for investment and can also be used for payments because if you look that way bitcoin can be used as both.
but for payment it might still be an alternative because considering fiat is still used as the main payment but I prefer it this way because considering this is very valuable if it is treated for the main payment

Bitcoin could do both things the only issue here is about legality but it wont really be that possible if we do talk directly because bitcoin is decentralized.Government could only make out some

involvement into those merchants or companies that do engage with it but overall it cant really influenced on how it do works.Lost its purpose? No it havent.It is just people are saving up

Bitcoin since they have seen the potential when it comes to make profits this simply means that they are holding it instead than on spending it actively.

[acener]

Bitcoin is crypto currency and it could be an investment tool or a payment option depending on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.

[Stalker22]

let's be honest:

Does anyone here in this thread use bitcoin as a payment method?

i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide

Yes, I use bitcoin as payment method. Although, not as often now that I am accumulating, but I still do so from time to time. Other altcoin currencies are not yet on par with bitcon.
Although litecoin has faster transactions and lower fees, it is not widely used across all online stores and services as bitcoin.

[nurilham]

With hour long payment confirmations, I just don't see it as a payment form in everyday life.

Do you mean Bitcoin transactions spend too much time? I think it is not true, only for the transactions of a big number of BTC that spend hours. While for daily needs, It shouldn't need a big number of Bitcoin. Moreover, as far as I know, Bitcoin has its developers, who are always improving the system. Someday, we may see faster transactions for Bitcoin. So, don't be worried about the transactions time, it is not a too big deal. This won't make Bitcoin lose its purpose as a future currency.

[sapnu]

It usually depends on what you can consider bitcoin is. On my own, so far I consider my bitcoin as an investment and I pay good attention to price changes because through, I may know the best course of action towards my holdings. I do not see it as an payment form although it can be since the value of it changes constantly. Maybe if I can see the value of bitcoin stabilizing and going higher, i might use it up as a payment form for convenience and to practice this privilege bitcoin has granted me upon.
 

[BuNga_cute]

Bitcoin is crypto currency and it could be an investment tool or a payment option depending on who owns it.
We are free to use it however we want it's purpose was to give us financial freedom and I think most of us already achieve it.
The purpose of Bitcoin also depends on who owns it.

Bitcoin can be used either as an investment or payment, it depends on us as Bitcoin owners. Everyone has different needs and goals when using
Bitcoin, I agree with you in the end we ourselves decide what to use Bitcoin for. But I prefer to use Bitcoin for long term investment, because it looks
at the history of Bitcoin price movements that continue to rise every year. Makes me more comfortable using Bitcoin for investment, after all because
in my country Bitcoin is forbidden to be used as payment, makes it a little difficult for me to use Bitcoin as payment.

[oktana]

Ha! It's confusing and surprising to see that I'm the one and only person who voted "Payment". I mean, I understand we all have our own opinions but do you really think Satoshi did this to create an investment portal? To me, It was created for Payment purpose, even though it serves other purposes. It's just like what Laszlo did. To make proof that this payment system works, he bought pizza with it. Think of it, do you think Laszlo doesn't know where he could buy pizza with fiat? He clearly stated in his post "You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins". So, based on some other factors too, the investment part just came along the way. My honest opinion.

[Connor Britton]

Currently, I use Bitcoin as an investment. Bitcoin payments can be made in many places, but Bitcoin payments still require fees. I also tried the Lightning Network. Yes, the Lightning Network is more convenient, but Bitcoin is still very volatile now. If it is used for daily payment, I will not consider it now, and I will continue to hold it.
You can have both investment and payment.

[Sithara007]

let's be honest:

Does anyone here in this thread use bitcoin as a payment method?

i use litecoin because it is cheaper and faster compared to bitcoin, but i like bitcoin to trade and hodl. and i believe most people just use bitcoin to hodl and get big profits don't use bitcoin to buy stuff... unfortunately this is reality and we cannot hide

LOL.... I have used Bitcoin as a payment thousands of times, ever since I first purchased it in 2014. If you are so concerned about the transaction fee, then it is better to use an altcoin, or wait until the fee gets lower. For the last 2-3 months, the transaction fee in the Bitcoin network has remained at extremely low levels (less than 5 Sat/Byte for most of the time). Personally I don't prefer to use alts such as Litecoin, because they are difficult to store, and on top of that they have a very high volatility.

[marine4u]

I think, Bitcoin does not change the purpose of the state of origin.  Most important for payments is the high security of bitcoin.  Lightning integrated payment on BTC will turn into a super payment station, millions of transactions per second.  Investment purpose won't be a big deal once we reach free users, The fact that large organizations are keeping large volumes based on accumulation is proof of the success of lightning network btc in  future.  It's like shredded, like a proof of stake.

[davis196]

Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that? With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?

The purpose of Bitcoin is to be both a medium of exchange and a store of value.
There used to be a time when BTC served better as a medium of exchange,now Bitcoin is more like a store of value.That doesn't mean that BTC can't be used for everyday payments,but the merchants don't want BTC due to the price volatility and unstable transaction fees.
There's nothing wrong with Grayscale owning 654K Bitcoins.
I don't really think that Bitcoin was truly adopted by Paypal.You can't withdraw Bitcoins out of your Paypal account.This isn't true Bitcoin adoption.

[Dhoe]

I think, Bitcoin does not change the purpose of the state of origin.  Most important for payments is the high security of bitcoin.  Lightning integrated payment on BTC will turn into a super payment station, millions of transactions per second.  Investment purpose won't be a big deal once we reach free users, The fact that large organizations are keeping large volumes based on accumulation is proof of the success of lightning network btc in  future.  It's like shredded, like a proof of stake.

true as you say, bitcoin never changes anything, and bitcoin also never loses its purpose, because we all already know bitcoin is a very valuable asset, the purpose of bitcoin is to give us a new civilization, and provide new challenges, as the world develops in the world. digital, then bitcoin crawls up,, because when the world starts to advance, our minds must go forward, to look for something new, to generate income..

[AniviaBtc]

Bitcoin was created as a form of payment tool but people are treating it as an investment right now and people are benefiting it.

I didn't lose its purpose because people are trying to send payment in a form of cryptocurrencies because that's what blockchain technology made for.

People are thinking that bitcoin lost its purpose because there are more cryptocurrencies existing in the market and there are more profitable than bitcoin,

[Obito]

Millions lost if you technically consider Satoshi's bitcoin as lost plus I think the data for lost coins are inaccurate because they are just listing dormant accounts so there's a possibility that the user of that account is just hodling at a really long time. Also, your thread sounds like the same thread of other users asking whether bitcoin is an asset or a currency. And no bitcoin hasn't lost it's purpose.

[rozak]

some of the people must have the same thoughts as you.
bitcoin may have lost its function as a means of payment.
but if you look at the beginning of the creation of this technology, bitcoin was born as a digital currency asset. I believe this has a purpose as a means of payment. and you can also hear a story of buying pizza with bitcoin. it was the first transaction using bitcoin as a means of payment.
today people's thinking may change because its value continues to grow.