Bitcoin: Payment or Store of Value?

Remember the whole 78% of Bitcoin not being used? Makes you wonder about the market size... Crazy, right?

Just because folks are holding their coins doesn't mean Bitcoin isn't meant to be used for payments. It's built to act as money, and that's still true.

I get it, but this holding phase is part of the S-curve adoption. People are just waiting to see the price skyrocket before they spend.

Totally agree. This is a classic S-curve moment. People are holding on because they know it preserves value really well.

Exactly! Everyone's hoping for that price explosion. But maybe it’s just a passing phase for Bitcoin.

So you both believe in the S-curve? But that doesn’t really explain how Bitcoin will become a payment method. Right?

What’s money anyways? A medium of exchange and a store of value. Bitcoin is a digital currency and can definitely be used as a payment.

Good point, but we need to talk scalability. With low fees now, what happens if spending picks up again?

There are places to spend Bitcoin like cash. But only a small fraction of people are using it while most hold it because fiat is losing value.

Do we really need more technical upgrades? Or is it all just about getting more taxes from Bitcoin users?

Governments want to tax Bitcoin because they see a gold mine. They know there’s money to be made.

Yeah, but upgrading Bitcoin isn’t just about money. It’s about how much people are willing to adapt.

Holding Bitcoin can be smart for the long run. If you have other income, why not hold? It’s like saving for retirement.

But what about using Bitcoin for payments? It was designed for that, not just to sit in wallets.

For sure, Bitcoin was made to be a cheap, accessible payment method. But now it’s mostly about holding.

It’s made for payments, but the volatility scares people. Still, some payments are happening!

People are starting to realize how much Bitcoin could be worth in the future. So yeah, they hold it instead.

But there are stablecoins for everyday payments. Why not use those instead?

Interesting point about silver. It lost its status not because people stopped trusting it but because something better came along.

Bitcoin is competing with everything. Just wait until it becomes more mainstream... It could take over.