Bitcoin is becoming a store of value than a transactional tool

[EstherBtc]

In 2008 Satoshi published the Bitcoin white paper. The goal was to create a peer to peer digital cash system which defeats the idea of middleman or institutionalization.

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

As bitcoin evolved over the years, the primary use of it by the public and institutional market even the government has moved towards long term investment or as a store of value.

Though bitcoin is still very much used as a means of daily transaction but due to evolution and resourcefulness it is now considered by many people as an investment plan.

 

[Charles-Tim]

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

I do not think so, but that is what is in bitcoin white paper, but bitcoin was primary designed also to be a store of value. It does not need to be in white paper before people should understand that. If bitcoin was not designed to be a store of value, there will be no adoption if it is inflationary.

[Findingnemo]

People may as use bitcoin as they wish, that is one of the perk os having a tool/money or an asset that is completely decentralized and can't be controlled by the government.

People can use it if they want to pay for their coffee or they can use it as an asset to pass on their inheritance, the choice is wide but they should know all the risks associated with bitcoin.

[Ayers]

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

I do not think so, but that is what is in bitcoin white paper, but bitcoin was primary designed also to be a store of value. It does not need to be in white paper before people should understand that. If bitcoin was not designed to be a store of value, there will be no adoption if it is inflationary.

in fact bitcoin's monetary design and financial structure should not be completely separated from its payment function

the economic design behind it all makes sense. satoshi created limited supply of 21 million, a predetermined production method and strong difficulty adjustment mechanism to prevent external inflation. if bitcoin could be inflated at any time like our fiat currency then no one would be interested in using it for saving or transaction. because you know, scarcity or limited supply actually ensure acceptability and credibility of any currency

[SquirrelJulietGarden]

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

As bitcoin evolved over the years, the primary use of it by the public and institutional market even the government has moved towards long term investment or as a store of value.

Though bitcoin is still very much used as a means of daily transaction but due to evolution and resourcefulness it is now considered by many people as an investment plan.

Bitcoin development, adoption growth are parts of its value and there are many use cases, utilities for Bitcoin so that people can have many options to choose. They can use Bitcoin blockchain as well as bitcoins in a way they need for and feel most comfortable with.

Transactions, payments via transactions are one of things people can use the blockchain and the coin, without it Bitcoin value will become lower, and there will be less people considering Bitcoin as a store of value. Remember that "a store of value" for Bitcoin does not come from the air, there are reasons for that, and there are contributors for Bitcoin value.

[Dr.Bitcoin_Strange]

Those earlier investors who acquired Bitcoin in 2009 -2012 and never sold until the price reached a certain amount, what do you think about them? They are people who already understand that Bitcoin was a store of value or they knew that the way Bitcoin was designed, that more adoption means the value is going to hike and that's what happened, so in my opinion, Bitcoin has always been a store of value,  most people didn't just see it so as at that early time.

[ColdLava40]

Though bitcoin is still very much used as a means of daily transaction but due to evolution and resourcefulness it is now considered by many people as an investment plan.

 

Bitcoin wasn't designed for a single purpose. Its main or primary focus was to serve and that means we could decide how we chose to use it.

What differentiates it from the other system is that it cannot be controlled, making it a better form of the financial systems. Today people simply want to profit from their Bitcoin hodlings, which is not in anyway bad.

It will still function both as a means of transaction, or a store of value. In the future when all the max bitcoins will be mined then it would be even more valuable and people might not be willing to use it for transactions either because of scarcity.

[Franklyn-wood]

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

I do not think so, but that is what is in bitcoin white paper, but bitcoin was primary designed also to be a store of value. It does not need to be in white paper before people should understand that. If bitcoin was not designed to be a store of value, there will be no adoption if it is inflationary.

The aim and target of the introduction of Bitcoin came early enough after a global financial crisis that started around 2007 to 2009 that became a challenge to the economy which could be taged a global recession, claiming the investment of lots of people leaving them with little or nothing.
Bitcoin has a targeted roll to play but I think was not officially documented because of government policies that could it from gaining access in the market to later became a store of value.

[Karl_3000]

Those earlier investors who acquired Bitcoin in 2009 -2012 and never sold until the price reached a certain amount, what do you think about them? They are people who already understand that Bitcoin was a store of value or they knew that the way Bitcoin was designed, that more adoption means the value is going to hike and that's what happened, so in my opinion, Bitcoin has always been a store of value,  most people didn't just see it so as at that early time.

You are very right completely about this, but for those that are not selling their bitcoin, they are also part of the reasons that bitcoin is scarce, making the price to rise.

Bitcoin wasn't designed for a single purpose. Its main or primary focus was to serve and that means we could decide how we chose to use it.

Some people will not look beyond something which is the reason they will understand it. Satoshi has a reason he capped bitcoin to 21 million bitcoin.

[BlackHatCoiner]

The reality is that it is not used that much as a currency, and that's fine. Bitcoin is the hardest asset, and the more hard an asset is the more reason there is to hoarding it instead of spending it.

It can very much help with transactions overseas, but in general it's not really comfortable to use when people just want to pass their iPhone and make the payment instantly without thinking for a single moment.

[Rruchi man]

Though bitcoin is still very much used as a means of daily transaction but due to evolution and resourcefulness it is now considered by many people as an investment plan.

Bitcoin is currently providing an opportunity to invest, and what is happening is just that many people are taking advantage of it. Over time when Bitcoin matures more, the opportunity to invest will be less because volatility will have dropped; at that point people will consider it more for transactions because it will become more useful for payments for goods and services within and outside one's immediate environment, but it's a stage-by-stage development. At that point Bitcoin may be used so much for transactions that you may barely even remember that it once created an opportunity for investors.

[MusaMohamed]

Bitcoin is currently providing an opportunity to invest, and what is happening is just that many people are taking advantage of it. Over time when Bitcoin matures more, the opportunity to invest will be less because volatility will have dropped; at that point people will consider it more for transactions because it will become more useful for payments for goods and services within and outside one's immediate environment, but it's a stage-by-stage development. At that point Bitcoin may be used so much for transactions that you may barely even remember that it once created an opportunity for investors.

People only invest money in Bitcoin if they know that in the future they will be able to sell bitcoin, use bitcoin easily. If they feel like they can not use bitcoin for transactions, payments they will not buy bitcoin as investment, because they will have big trouble to sell bitcoin or use it in the future. Without ability of using bitcoin for transaction and payments, nobody will buy bitcoin and consider it as investment.

Like shitcoins, people who are greed by lack of experience can buy shitcoins, but they will not be able to sell it in the future when such coins die, no liquidity exists.

[EstherBtc]

Though bitcoin is still very much used as a means of daily transaction but due to evolution and resourcefulness it is now considered by many people as an investment plan.

Bitcoin is currently providing an opportunity to invest, and what is happening is just that many people are taking advantage of it. Over time when Bitcoin matures more, the opportunity to invest will be less because volatility will have dropped; at that point people will consider it more for transactions because it will become more useful for payments for goods and services within and outside one's immediate environment, but it's a stage-by-stage development. At that point Bitcoin may be used so much for transactions that you may barely even remember that it once created an opportunity for investors.

You got what i was trying to say.
The essence of this thread is not to undermine the investment possibilities of bitcoin but i am just trying to resonate with the evolutionary reality of bitcoin.

I believe when bitcoin gets to a more stable state it will be strictly transaction but for now it's volatile state makes it a store of value.

[Merit.s]

Yea, you can create something for a purpose and people use it for a different purpose. Bitcoin is seen as a store of value currently, than a currency because of the flaws in fiat system and that's still one of the major purpose why bitcoin was created. This means that the reason for bitcoin creation has been achieved already.

I wouldn't spend my bitcoin because it was created as an alternative payment method when I know that the value increases overtime and fiat is lying in my wallet. It means that I am poor in financial management. I can only spend bitcoin when I don't have any cash on me and has nowhere, to get cash from.

[RockBell]

People may as use bitcoin as they wish, that is one of the perk os having a tool/money or an asset that is completely decentralized and can't be controlled by the government.

And there people that are using Bitcoin because they want to explore and that is more reasons why we should be able to decide exactly what we want to before starting because most people are confused they don't even know if they are going to be holding or they are going to trade and instead of them to even look for way the easiest way to start but know they don't even have any plan and that is very bad of them and the fact that the government is not involved in controlling then there is no problem.

People can use it if they want to pay for their coffee or they can use it as an asset to pass on their inheritance, the choice is wide but they should know all the risks associated with bitcoin.

And spending it is just does that want to explore and there is nothing wrong with that it even better to explore things so that you will have better understanding and since you are not spending much just for things like coffee then it is not a bad idea the more you use the more principle you understand behind some things.

[aoluain]

This topic has come up a good few times in the past and my answer/point is always the same.

Bitcoin can be whatever you want it to be

It can be a transactional tool if you can work it that way, I can be a store of value also all at the
same time, it can be a cross border wealth transportational tool too.

Its not correct to try and demand that it should only be used for transactions, its open source
and decentralised, its for everyone and everyone can do what they want with their coins.

[SamReomo]

As bitcoin evolved over the years, the primary use of it by the public and institutional market even the government has moved towards long term investment or as a store of value.

Bitcoin was designed in a way that it could be used as a payment system or as a store of value. Satoshi limited the maximum number of Bitcoin at 21 million and that number shows that Satoshi knew that in future some people will want Bitcoin because they want to earn profit from it by holding it, but Satoshi also knew that the ones who use it as payment system will continue using it in that way.

Even this day many people still use Bitcoin as a payment system, they don't even know that they could earn good returns by holding this asset for long term. That's why it depends on the person's choice, if he/she is interested to hold Bitcoin for long term to gain good return on investment or he/she wants to use it as payment system, both work pretty well.

[CryptoBuds]

Those earlier investors who acquired Bitcoin in 2009 -2012 and never sold until the price reached a certain amount, what do you think about them? They are people who already understand that Bitcoin was a store of value or they knew that the way Bitcoin was designed, that more adoption means the value is going to hike and that's what happened, so in my opinion, Bitcoin has always been a store of value,  most people didn't just see it so as at that early time.

When people use something in exchange, it first have to prove its ability to preserve value. White paper basically explains how Bitcoin eliminates third parties or intermediaries in the payment process. However, its strict monetary policy naturally establishes it as an extraordinary store of value.

These are not contradictory ideas. Rather they complement each other. That is why today we are seeing its increasing institutional acceptance as a longterm asset. On the other hand we are also seeing the continuous development of payment solutions like Lightning for everyday small transactions.

[Cryptomultiplier]

Bitcoin is an alternative to our local fiat currency not a replacement for it. The only reason why it isn't being used as an everyday currency around the world is because of its volatile nature, because the price fluctuates, therefore it is better to be stored like gold and that's why it earned the name digital gold.

Bitcoin simply evolved over the years, it built the massive global liquidity, institutional trust and security foundation that is necessary to survive for a long term holding plan and that's why it qualifies as digital gold.

[Obari]

Thus, the main focus of bitcoin at that time was transactional. It was designed primarily to help day to day payments.

I do not think so, but that is what is in bitcoin white paper, but bitcoin was primary designed also to be a store of value. It does not need to be in white paper before people should understand that. If bitcoin was not designed to be a store of value, there will be no adoption if it is inflationary.

You might not think so but that's what the white paper implied.

The truth is that, I believe one of the driving force for bitcoin adoption isn't just the decentralized nature but the ability to store value and at some point, I was on the view that, if bitcoin was typically just serving only the purpose of a store of value, the mass adoption rate wouldn't have been this high atleast not so fast as it did when people started seeing that they could use the volatile nature to their advantage.

The world is evolving, so is human perception of things including bitcoin, and I believe bitcoin is already serving several purposes and it's best we key into which went best suits us.