Different usage of Bitcoin

[TheUltraElite]

Bitcoin is a payment system and that is the biggest pro that it has. This is a payment system which is censorship resistant and decentralized. There is no other payment system that allows this advantage. It basically means in simple terms, you are free to send whatever you want to whoever you want. Nobody will raise any fingers when that decision is being done.

Is that not a payment system that every human being deserves to have?

This is the biggest and most important use of bitcoin. It has also emerged as a good investment opportunity but that is of course because of the speculative market.

[OcTradism]

Bitcoin is a payment system and that is the biggest pro that it has. This is a payment system which is censorship resistant and decentralized. There is no other payment system that allows this advantage. It basically means in simple terms, you are free to send whatever you want to whoever you want. Nobody will raise any fingers when that decision is being done.

Is that not a payment system that every human being deserves to have?

This is the biggest and most important use of bitcoin. It has also emerged as a good investment opportunity but that is of course because of the speculative market.

Things always change and evolve with time  but since 2009, Bitcoin is the only decentralized blockchain, with best security by having highest mining hash rate. Monero is an altcoin that can be considered decentralized but its mining hash rate is smaller than Bitcoin.

It's too confident to say Bitcoin will hold this position forever, who knows about the future but until such flippening at the first position in decentralized, no censorship, security happens, it's right to say Bitcoin is a best blockchain to use.

How many confs?
https://howmanyconfs.com/

History can be changed, new history might appear but it's useless to speculate when an altcoin can take over this position from Bitcoin.

[CryptoBuds]

Bitcoin does have many uses, and you've already mentioned some of its benefits and uses. However, the bottom line is that most people invest in BTC for profit, as everyone who buys BTC ultimately wants to make a profit.

But personally, what I like most about BTC is that it can protect our money from inflation as long as we hold it long-term. If we invest our money in BTC for the long term, our money will certainly not be affected by inflation and will even generate good returns. In short, I think BTC is a versatile asset because it can be used for anything, including profit-making.

Bitcoin has a number of uses but if we are sincere to ourselves it is mostly held for profit, this is the major driving force for it's adoption and we have to accept it's reality, if it were not for profit making I'm not sure that we would have achieved this level of adoption in less than two decades. Aside from it being an asset for profit on the long term we can agree that because it is a store of value we can hold it as hedge against inflation so aside from holding it to make profit it is also giving us privacy to hold our own decentralized digital currency.

Bitcoin was originally created for p2p transactions but it is not the reason why the majority are holding it because it is volatile, we would rather spend fiat to buy things but if you're very concerned about privacy you will still priotize spending your Bitcoin anywhere it is accepted.

Can't deny Bitcoin has some pretty big advantages over fiat and traditional assets. It has way more use cases and purposes than any other financial tool out there.

But tbh, I also believe that profit is the main driving force behind its adoption and what really hooks us in, nothing else. People might use it to hedge against inflation, preserve purchasing power,..but let's be real, none of those perks would even matter if Bitcoin could not make them money.

Without that expectation, I doubt even a fraction of the people today would actually care about Bitcoin this much.

[jcojci]

Payment transaction besides of using fiat especially payments for across border. By having more payment methods, that gives convenience for buyer to choose the methods so they will choose the fast and cheap cost transaction.

But using Bitcoin as payment depend on the government. They have regulation to control the use and will not easily let that be used by their citizens. As ordinary citizens, we should satisfy with the use of Bitcoin for investment because that gives opportunities to us to buys Bitcoin and hodl. We don't have to pay using Bitcoin but still using fiat so we can stack it for some time and enjoy the profit.

[Zoomic]

Bitcoin is a payment system and that is the biggest pro that it has. This is a payment system which is censorship resistant and decentralized. There is no other payment system that allows this advantage. It basically means in simple terms, you are free to send whatever you want to whoever you want. Nobody will raise any fingers when that decision is being done.

Is that not a payment system that every human being deserves to have?

This is the biggest and most important use of bitcoin. It has also emerged as a good investment opportunity but that is of course because of the speculative market.

The truth is that the payment system argument is primarily the most important reason behind Satoshi's innovation of Bitcoin but if we're being honest, it's definitely not it's biggest use today.

Bitcoin today is mostly treated as an investment asset not for everyday payment and somehow, I think it contradicts the primary objective of Satoshi.

That said, the good thing is wether you're using as a means of payment in your day to day transactions or as an investment asset, you'll do either without needing a central authority or any third-party of any kind.

Obviously, we can limit it's usefulness to just one case.

[wapwapwendy]

Bitcoin has been existing for so many years now and different people use it in different ways and every one has a reason for adopting it and when Bitcoin is mentioned, the first thing that usually comes to most of our minds is buying and holding it as an investment but it far more that that Bitcoin can actually be used for more than just trying to make a profit from it have actually see so many people use it to send money across borders, receive payments, make donations, or make transactions without relying entirely on local banking systems, and in some countries, the ability to access your money internationally can be very useful most especially when banking services is limited or expensive.

There are individual buyers, long term holders, businesses, and people who use Bitcoin for payments or as an alternative to keep their money away from banks and if more holders continue accumulating and holding, and that also makes people to adopt bitcoin and it keeps growing as new investors are coming.

So what do you personally feel is the most useful purpose of Bitcoin besides investment, and what useful case do you think deserves more attention?

For me, one of Bitcoin's biggest use cases is moving money without having to depend on traditional banking hours or borders. That utility becomes much more noticeable when access to banking is limited or international transfers are expensive.

[Popkon6]

So what do you personally feel is the most useful purpose of Bitcoin besides investment, and what useful case do you think deserves more attention?

Bitcoin will help you in all aspects, no matter which direction you start from, it carries the most benefits in terms of transactions, you can take the opportunity to transact Bitcoin anywhere, anytime, at any time in a short time without any hassle. And you can also take Bitcoin payments as salary, this will give you many additional benefits, if you accept fiat currency from the bank, then it can be very annoying for you. Because you have to withdraw money by maintaining the serial, but if you accept payments through Bitcoin, then it will not bother you in any way.
Not only from this aspect, you can also get good benefits from holding Bitcoin, this will make proper use of your money and eliminate financial shortages in the future.

[WatChe]

The truth is that the payment system argument is primarily the most important reason behind Satoshi's innovation of Bitcoin but if we're being honest, it's definitely not it's biggest use today.

Bitcoin today is mostly treated as an investment asset not for everyday payment and somehow, I think it contradicts the primary objective of Satoshi.

That said, the good thing is wether you're using as a means of payment in your day to day transactions or as an investment asset, you'll do either without needing a central authority or any third-party of any kind.

Obviously, we can limit it's usefulness to just one case.

If we read the original whitepaper proposed by Satoshi then it is "A Peer-to-Peer Electronic Cash System", which means transfer of electronic cash between two entities without any middlemen. The original concept of Bitcoin was to transfer cash but we have seen that Bitcoin has now become an asset of investment and there many reasons for that. The main reason why people are hodling Bitcoin for long term is its price increase, which we have seen over years. Moreover, majority of governments have also not legalised use of Bitcoin in the country. It looks like use of Bitcoin as an asset of investment will increase in coming years because of reasons I just mentioned.

[BlackBoss_]

If we read the original whitepaper proposed by Satoshi then it is "A Peer-to-Peer Electronic Cash System", which means transfer of electronic cash between two entities without any middlemen. The original concept of Bitcoin was to transfer cash but we have seen that Bitcoin has now become an asset of investment and there many reasons for that. The main reason why people are hodling Bitcoin for long term is its price increase, which we have seen over years. Moreover, majority of governments have also not legalised use of Bitcoin in the country. It looks like use of Bitcoin as an asset of investment will increase in coming years because of reasons I just mentioned.

I believe that cash and bank transfer are different uses of money, and cash is not electronic, it's physical and offline. Bank transfers are digital and online so between cash and bank transfers, cash can give people more privacy.

The Bitcoin White paper was written with that title "A peer-to-peer electronic cash system" but I would like to have something like "A peer-to-peer electronic money transfer system", it would avoid confusion with cash.

It's only my view and I can not change it, Satoshi Nakamoto as the Bitcoin founder created this project, this coin, wrote the White Paper, and the title was decided to be written like that more than one decade ago already.

[yudi09]

There are individual buyers, long term holders, businesses, and people who use Bitcoin for payments or as an alternative to keep their money away from banks and if more holders continue accumulating and holding, and that also makes people to adopt bitcoin and it keeps growing as new investors are coming.

So what do you personally feel is the most useful purpose of Bitcoin besides investment, and what useful case do you think deserves more attention?

I feel fortunate that I can still use Bitcoin as an investment asset and trade it if I need to.
There’s nothing else I can use other than as an investment asset. I can’t use Bitcoin as a currency for payments because it’s not legally permitted in my country.
I can’t force Bitcoin to be more than just an investment asset because that’s already a regulation—even though functioning as a transaction system like a currency is the original purpose of Bitcoin.

[Sammysmart001]

Bitcoin is a payment system and that is the biggest pro that it has. This is a payment system which is censorship resistant and decentralized. There is no other payment system that allows this advantage. It basically means in simple terms, you are free to send whatever you want to whoever you want. Nobody will raise any fingers when that decision is being done.

Is that not a payment system that every human being deserves to have?

This is the biggest and most important use of bitcoin. It has also emerged as a good investment opportunity but that is of course because of the speculative market.

Am with you, that payment side of Bitcoin is very important but also when we look at the situations where traditional payment systems don’t work well the real value becomes clearer.
It useful to be able to send value directly but also, convenience or speed alone won’t be enough to make a person choose bitcoin over payment methods they already use.

When one don’t want to depend completely on payment companies or bank the biggest advantage is having another option, this gives Bitcoin use beyond speculation even in a case that users hold it today just for investment.

[hd49728]

Am with you, that payment side of Bitcoin is very important but also when we look at the situations where traditional payment systems don’t work well the real value becomes clearer.

When one don’t want to depend completely on payment companies or bank the biggest advantage is having another option, this gives Bitcoin use beyond speculation even in a case that users hold it today just for investment.

Having Bitcoin is having another option that has many advantages against traditional payment methods. It's good to have Bitcoin in your option list and there is another advantage with it.

You can use Bitcoin off grid too.
[Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna.

[Marvelockg]

Payment transaction besides of using fiat especially payments for across border. By having more payment methods, that gives convenience for buyer to choose the methods so they will choose the fast and cheap cost transaction.

Greed has been one of the root cause of the change in the narrative of usage of bitcoin for transactional purpose and not just for the sake of profit that is gotten through holding or trading. ideally, if you are transacting with bitcoin either as a means of carrying out international transaction or as an alternative transitionary means other than the fiat, you are supposed to have enjoyed the complete usefulness of bitcoin as much as you are using it for one of the purposes through which bitcoin was invented for.

[Jubilee58]

Bitcoin has been existing for so many years now and different people use it in different ways and every one has a reason for adopting it and when Bitcoin is mentioned, the first thing that usually comes to most of our minds is buying and holding it as an investment but it far more that that Bitcoin can actually be used for more than just trying to make a profit from it have actually see so many people use it to send money across borders, receive payments, make donations, or make transactions without relying entirely on local banking systems, and in some countries, the ability to access your money internationally can be very useful most especially when banking services is limited or expensive.

There are individual buyers, long term holders, businesses, and people who use Bitcoin for payments or as an alternative to keep their money away from banks and if more holders continue accumulating and holding, and that also makes people to adopt bitcoin and it keeps growing as new investors are coming.

So what do you personally feel is the most useful purpose of Bitcoin besides investment, and what useful case do you think deserves more attention?

Bitcoin can be used for different purposes, and depending on the interest of the holder. While majority of the investors invest in Bitcoin for the purpose of making profit, some other persons can be using it for different things. For instance there are people who put their money in Bitcoin as against inflation. When there is an inflation in an economy, fiat currency depreciate in value, and money is being put in Bitcoin as against currency depreciation. There are also some companies who uses Bitcoin as a form of salary payment, and apart from using it to send across borders, some workers receive their income in Bitcoin which might be stored or further use it for transactional reasons.

[Sonia_123]

Bitcoin has been existing for so many years now and different people use it in different ways and every one has a reason for adopting it and when Bitcoin is mentioned, the first thing that usually comes to most of our minds is buying and holding it as an investment but it far more that that Bitcoin can actually be used for more than just trying to make a profit from it have actually see so many people use it to send money across borders, receive payments, make donations, or make transactions without relying entirely on local banking systems, and in some countries, the ability to access your money internationally can be very useful most especially when banking services is limited or expensive.

There are individual buyers, long term holders, businesses, and people who use Bitcoin for payments or as an alternative to keep their money away from banks and if more holders continue accumulating and holding, and that also makes people to adopt bitcoin and it keeps growing as new investors are coming.

So what do you personally feel is the most useful purpose of Bitcoin besides investment, and what useful case do you think deserves more attention?

The different purposes and uses of bitcoin by every individual marks the main purpose why Bitcoin was created and so for any reason why we are using Bitcoin is still in line, therefore one aspect does not deserve more attention than the other , they are all important and deserves equal attention

The main creation of bitcoin to be used is to make payments without stress from one country to another, region to region and place to place for whatever needs we want in as much as the receiver is ready to collect Bitcoin as a means of payment which is even more faster in transaction with less charges than fiat , it is basically used for online transactions for goods and services  and others since it is a digital currency

Store of value, when you invest in Bitcoin for a long term of 4-10 years or more not short term, the value keeps increasing and gives you a good profit at the end of your investment since the supply is limited which makes it scares and more valuable than fiat but being compared to gold, it serves as an hedge over inflation since it does not depreciate but appreciate over time, which makes individuals, firms and counties want to invest in them as an asset.

This aspect also gives the traders more opportunities to buy and sell their coins at any point in time that they want for more valuable rewards with the believe of it's growing value over time.

[Orpichukwu]

For me, one of Bitcoin's biggest use cases is moving money without having to depend on traditional banking hours or borders. That utility becomes much more noticeable when access to banking is limited or international transfers are expensive.

And this biggest use case is part of the reason behind the creation of Bitcoin. It eliminates the need for a third party before someone has to complete a financial transaction. Someone who is using Bitcoin and still holding it in a centralised exchange won’t understand this, though, but that freedom of transacting whenever you want, however much, depending on your balance, without being asked to prove something you don’t know by a third party or being charged a fee based on the amount you are sending is top-notch.

[GeorgeJohn]

Greed has been one of the root cause of the change in the narrative of usage of bitcoin for transactional purpose and not just for the sake of profit that is gotten through holding or trading.

I will like you to elaborate more on how " Greediness " is one of the factors behind Changes in the narratives of bitcoin usage"...Where Greediness comes in, in bitcoin, is when you're unable to withdraw the profit you made during the investment, such as trading or holding, that's where we can say, it's greediness that caused you to lose...That's why i want you to make to understand you proper...