Bitcoin as a peer to peer method less popular than as an investment

[nullama]

If you think about it, it makes sense.

Bitcoin makes you think with a long term mentality, you should save more than what you are spending. That's a big change from the "spend now, pay later" mentality of fiat.

This means that sending peer-to-peer Bitcoin (spending) should be less popular than investment (saving).

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[CryptoHeadlineNews]

The limited supply of Bitcoin like land has made it turn to an investment opportunity with many not even knowing why it was created.

Really, how true is that, because it's just now you are saying it, that I'm hearing it for the first time that land has limited supply.

Currently, it hasn't fully meant the criteria of money due to certain limitations

What other criteria of money where you expecting Bitcoin to exhibit before knowing it is money itself? Can you just mention just a fee of them? Because the same way money is been used for exchange of goods and services, Bitcoin has been able to be used for that too, and even more. So Bitcoin is indeed digital money.

Don't get me wrong I'm not saying it as an investment is bad since it has helped in increasing the community but many people have become so concerned about its price and have forgotten it's inherent uses.

Without the price of Bitcoin, I'm sure even you @ O.P would never have taken Bitcoin serious, but it is it's price that gives Bitcoin it's value. Which means the price of Bitcoin plays a very important role for it's adoption.

[odolvlobo]

...but it is it's price that gives Bitcoin it's value.

That is a problem.

If the value of Bitcoin relies on its increasing price, then Bitcoin will have no value when the price stops increasing. That is precisely the reason for so many Bitcoin skeptics who correctly argue that as long as people value Bitcoin as only a speculative asset, then it is doomed to being just a speculative bubble.

If you believe that Bitcoin has value, then you must believe that the value comes from something other than its rising price. If you don't believe that, then investing in Bitcoin is just a game of chicken where you hope that you can get out before it crashes.

[lixer]

The limited supply of Bitcoin like land has made it turn to an investment opportunity with many not even knowing why it was created and market its meant to satisfy.

Bitcoin, according to the white paper is a peer to peer payment method. It serves as money with no third party or central body involved. Currently, it hasn't fully meant the criteria of money due to certain limitations but it has helped one become their own Bank. Not to mention, Created more uses than satoshi anticipated.

There is nothing wrong with that, let people think of it that way and keep buying, storing, and using it, that makes Bitcoin known more in the world, and that's important for it. Don't we want Bitcoin to stay around for as long as possible and reign over the market the way it does right now? Just because people are getting involved because they see they can get money from it, it wouldn't change what Bitcoin can do and what it can be used for in general.

So, those who understand the actual meaning and reason for the existence of Bitcoin can still do that no matter how expensive and successful it gets over time. If you have come to know about what Bitcoin was created for, that's a great thing, now you can have two use cases for it, for others that don't know it yet, they will, in the future.

[kentrolla]

When I was introduced to Bitcoin I was given a clear understanding and a video link of 2 and half hours was shared with me which had described the reason why Bitcoin is created and why we shouldn't reply on bank and it covered several aspects like how our bank balances are just a digital representative of number and if all of us wants to withdraw our money at one go they won't have it as it's circulated as loans.

But people including myself has started considering Bitcoin as an investment medium but we will surely be using Bitcoin as a mode of transfer when we don't want involvement of any 3rd party and don't want the transfer to be recorded. Satoshi made a smart move by designing it the way where it has limited supply else it would become like dollar.

Emergence of other coins with lesser transaction fee and faster transaction speed has pushed users to use them for payment transfer, like I use TRON for this purpose.

[The Cryptovator]

Thanks God I was introduced to Bitcoin as a payment method when Ponzi schemes and so-called revenue-sharing sites were popular. I used Bitcoin as a payment method. Just for info, during that time I wasn't aware how Ponzi schemes scammed us. Day by day, I learn and leave Ponzi without losing too much. But I learned a lot about Bitcoin. No doubt, a lot of people don't know how Bitcoin works. Most of them just consider Bitcoin as an investment opportunity. It's because of the volatility of Bitcoin that we can make profits. This isn't bad, actually, but we need to learn about Bitcoin as well, besides considering it as an investment opportunity.

[Agbamoni]

Thanks God I was introduced to Bitcoin as a payment method when Ponzi schemes and so-called revenue-sharing sites were popular. I used Bitcoin as a payment method. Just for info, during that time I wasn't aware how Ponzi schemes scammed us. Day by day, I learn and leave Ponzi without losing too much. But I learned a lot about Bitcoin. No doubt, a lot of people don't know how Bitcoin works. Most of them just consider Bitcoin as an investment opportunity. It's because of the volatility of Bitcoin that we can make profits. This isn't bad, actually, but we need to learn about Bitcoin as well, besides considering it as an investment opportunity.

Good thing you were focused on what you believed about Bitcoin and not moved by the so-called Ponzi scheme at that period. I know what the press and so-called cryptocurrency influencers are capable of that hear. When it was newly introduced a lot of them use it for to get famous online when they do not even know much about it use cases. Many persons fell for their preaching but only few like you were not convinced by what they preach. So sad i came into Bitcoin lately and what has derived me into it deeply is because of its undermining technology. Something you can see, move around, control without feeling or touching it. It was like a magic to me and i was eager to go to the root.

Yes, we may go into something because of a particular thing we see at first instance but when we go deeper into it we become more interested in other things. That is how Bitcoin works. Currently i am more interested in accumulating a good amount of Bitcoin gradually. I have given myself a target and is working towards it. There are more to Bitcoin and with time we will unveil them and see the one we can adapt.

[Solokan]

Can it be helped? As you’ve mentioned, Bitcoin and this industry in general still has its limitations. Investors happened to find it more beneficial as an asset because of its profit potential and volatile market value. There’s nothing wrong with it and we cannot force other people to follow its ‘purpose’. We are just simply taking advantage of its characteristic more than its usage and that’s just fine ‘coz it is still having progressive growth over years. Bitcoin became more popular and acknowledged by more people and companies. With countries’ approval, we cannot do about it other than to wait for things to be better. For now, since it is more helpful as an asset due to high transaction fees, then let us allow ourselves on how would we be able to use it as long as it won’t cause any harm to other investors and to ourselves. Adjustments were done on its usage and I cannot see anything wrong from it.

I agree with your words, indeed as long as we are not harmed by Bitcoin, I think it is legal for us to invest in BTC, even though the purpose of BTC is for payment because BTC was created as a digital currency by Satoshi Nakamoto, but I think there are many people who investing in BTC and saving it for the long term is what pumps the price of BTC and finally BTC is known throughout the world. I think in this case OP doesn't need to be confused because I think BTC is now increasingly popular. I even see more and more people adopting BTC. and simple examples such as Elsalvador which has legalized btc in its country.

[CryptoBuds]

Can it be helped? As you’ve mentioned, Bitcoin and this industry in general still has its limitations. Investors happened to find it more beneficial as an asset because of its profit potential and volatile market value. There’s nothing wrong with it and we cannot force other people to follow its ‘purpose’. We are just simply taking advantage of its characteristic more than its usage and that’s just fine ‘coz it is still having progressive growth over years. Bitcoin became more popular and acknowledged by more people and companies. With countries’ approval, we cannot do about it other than to wait for things to be better. For now, since it is more helpful as an asset due to high transaction fees, then let us allow ourselves on how would we be able to use it as long as it won’t cause any harm to other investors and to ourselves. Adjustments were done on its usage and I cannot see anything wrong from it.

I agree with your words, indeed as long as we are not harmed by Bitcoin, I think it is legal for us to invest in BTC, even though the purpose of BTC is for payment because BTC was created as a digital currency by Satoshi Nakamoto, but I think there are many people who investing in BTC and saving it for the long term is what pumps the price of BTC and finally BTC is known throughout the world. I think in this case OP doesn't need to be confused because I think BTC is now increasingly popular. I even see more and more people adopting BTC. and simple examples such as Elsalvador which has legalized btc in its country.

Many people are too rigid and stubborn to see bitcoin not being used as it was originally created and consider it a failure. For me, it's not important what bitcoin is, what's important is what benefits it brings to us and what purpose it is used for is up to each person to decide. Many people use bitcoin as an investment, that doesn't mean no one uses bitcoin as a currency, or even there are investors who are using bitcoin as a currency but they don't want to say it. No matter what bitcoin is, as long as it benefits people it is a success.

[retreat]

But the problem is that when people use it as their payment, they are hindered by regulations in their country. For example, in my country, people are prohibited from using Bitcoin as a substitute for fiat and violating this can be punished. Not to mention fees that are sometimes unreasonable and Bitcoin adoption that is not yet massive, these are the reasons that make people reluctant to use Bitcoin as their payment method and prefer to make it an investment that can bring profits.

[benalexis12]

People today will consider BTC as an investment as its inherent use case of BTC. It doesn't really matter how a person will treat Bitcoin, they may look at it as a tool to gamble online or simply to send payments off the grid, whichever it is, its adoption of BTC.

If you mean peer-to-peer in a decentralized way where 2 people make transactions with no platform in between, humanity has lost trust in each other.  That's what's happening. Face-to-face transactions would be possible but still risky.

Most communities here in this business industry really believe that Bitcoin is proven and tested for long-term investment. And I don't disagree with that, because it's true. Just because of the reality of what's happening to me now, I can't save at least 1 bitcoin until the bull run comes or before the halving.

So I am saving another alternative cryptocurrency that I think also has the potential to increase its value in the market, at least based on my studies and its usage in the market too.

[bayu7adi]

You're right, it doesn't align with the original Whitepaper, but I don't think the widespread adoption is necessarily a bad thing. It's better than Bitcoin not progressing at all... satoshi even seemed to predict that in the future, Bitcoin would either be extremely valuable or essentially worthless. Now, its skyrocketing value makes BTC as a speculative asset to gain profit or making money purpose.

Despite Bitcoin deviating from its intended functions outlined in the Whitepaper, I believe Satoshi would still approve of it being traded and used as a speculative asset. The limitations and regulations prevent Bitcoin from functioning as freely as the envisioned decentralized currency.

[Taskford]

When I first stumbled upon Bitcoin, I was told that if you buy Now you would make more in the future. I got hooked without even knowing its uses and why it was created.

The limited supply of Bitcoin like land has made it turn to an investment opportunity with many not even knowing why it was created and market its meant to satisfy.

Bitcoin, according to the white paper is a peer to peer payment method. It serves as money with no third party or central body involved. Currently, it hasn't fully meant the criteria of money due to certain limitations but it has helped one become their own Bank. Not to mention, Created more uses than satoshi anticipated.
Don't get me wrong I'm not saying it as an investment is bad since it has helped in increasing the community but many people have become so concerned about its price and have forgotten it's inherent uses.

Don't feel bad about thinking that bitcoin for you is for investment since many people have same impression regarding on how they view bitcoin for now. We can't deny that there's limited usage for this coin especially on physical merchants that's why its acceptable for now that this is called for profit generating option for them. If that happens where all major stores will accept it and people on our neighborhood then by that time we can say that bitcoin can be 100% called as currency.

So for now focus on how you can earn more with it since this is what we need to take care and we should prioritized on how we can earn a lot of BTC so that we can be lucky in future to earn a lot of money from this. Don't get distracted by people discussing nonsense thing about it since what's more important for now is you earn from bitcoin so maintain your focus and research for more knowledge on how you can multiply more your investments.

[CarnagexD]

It's the people that's using bitcoin as a P2P payment that had created the concern that you're talking about, when more and more people are buying bitcoin, the demand increases and with the demand increasing then it will eventually make the price of bitcoin higher because people are willing to pay to get their hands on bitcoin and maybe you're right that a lot of people have forgotten what it's used for but the function of being a P2P is still there so it's nothing worthy of concern as long as the feature is still there waiting to be used.

[Minor Miner]

You're right, it doesn't align with the original Whitepaper, but I don't think the widespread adoption is necessarily a bad thing. It's better than Bitcoin not progressing at all... satoshi even seemed to predict that in the future, Bitcoin would either be extremely valuable or essentially worthless. Now, its skyrocketing value makes BTC as a speculative asset to gain profit or making money purpose.

Despite Bitcoin deviating from its intended functions outlined in the Whitepaper, I believe Satoshi would still approve of it being traded and used as a speculative asset. The limitations and regulations prevent Bitcoin from functioning as freely as the envisioned decentralized currency.

According to the white paper, Satoshi's purpose in creating bitcoin was peer-to-peer currency, but I'm sure he also predicted that it would be difficult for bitcoin to become popular as a currency because governments would stop it, and that's also the reason he has chosen to remain anonymous until now, IMO. I believe he also thought about the scenario of bitcoin being used as an asset instead of a currency because it has characteristics like scarcity and decentralization, those characteristics are actually more suitable to be an asset rather than a currency.

But whether he accepts it or not, or whether we accept it or not, bitcoin is still considered an asset rather than a currency. We need to accept reality and what is happening, we cannot fight the crowd. He created bitcoin for the community and let the community decide its future, and we need to adapt to what is happening.

[Husires]

Uses will not come unless the thing has value, and this value will only come from the high price. The rise in the price of Bitcoin may be a reason for people to return to using it as P2P if we reach a price after which increasing the price becomes very difficult, just as happened with gold, and it can happen with any asset that reaches a value. Considerable marketability. Some people still use Bitcoin as a store of value, but as long as the transaction is peer-to-peer, then Bitcoin still serves its purpose unless it is kept on central platforms, and here Bitcoin fails to achieve its goal.

[KiaKia]

Whatever you want with Bitcoin is available, a good store of value? Some privacy off the bank when moving money? Decentralization hunger? Like seriously this is a well made digital currency and there is no single doubt why it's taking the lead over other cryptocurrencies.

It's consumers choice to make, but I choose Bitcoin for everything it has to offer, all the utilities of Bitcoin are useful for someone like me, I use Bitcoin to make payment online and I am still sad that this is limited in some areas, but hopeful things will change soon, I am now storing more money in Bitcoin instead of banks and I am not scared like when I used to store money in the bank.

I was worried that I could be tracked if my bank account worth a lot of money, since so many things are happening in my country, I feared for myself that's why Bitcoin seem to be the best option and so far it's been years and I feel more safe holding Bitcoin than having money in the bank.

[Blitzboy]

How about considering Bitcoin as a financial literacy tool rather than an asset or tech? Imagine Bitcoin as a portal to finance, economics, and technological education. It's a gateway to understanding money's history, worth, and future. This way, Bitcoin's fluctuating prices and investment hype become part of a larger, more meaningful conversation.

Being your own bank? Very powerful idea. While it's not flawless and has hitches to work out, it gives you control and independence. Like learning to drive, it's all about the thrill at first, but you gradually understand the freedom and responsibility.

Right now, Bitcoin's dual role and its basic purpose must be balanced against the allure of investment returns. How do we preserve Satoshi's vision in our fast-paced, price-focused world

[Agbamoni]

If you think about it, it makes sense.

Bitcoin makes you think with a long term mentality, you should save more than what you are spending. That's a big change from the "spend now, pay later" mentality of fiat.

This means that sending peer-to-peer Bitcoin (spending) should be less popular than investment (saving).

Bitcoin doesn't make you think long term. It's your mindset and choice that makes you want to leave your Bitcoin for the long term. Just the way you feel like HODL there are persons that prefer day to day trading because they feel that is the fastest way to get profit.

Both peer-peer Bitcoin and investment should both be giving equal attention. Different features but one system. It is Bitcoin that should be giving more popularity and not the feature itself.

[Helena Yu]

Even Satoshi itself agree if Bitcoin can be viewed as a commodity, so @OP what are you looking for? if you think Bitcoin should be used as a currency, start by yourself by purchasing foods where you need to spend your money regularly.

It's not make sense asking other people to use it as a currency when you're not do that.

Bitcoins have no dividend or potential future dividend, therefore not like a stock.

More like a collectible or commodity.