https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Agree with this completely. Bitcoin doesn't satisfy the definition of a currency, and the part that is most lacking is a stable store of value. It's too volatile, which makes it fantastic for gamblers and speculators to trade in and out of it, but terrible for conducting commerce or using to store wealth, which are necessary for a currency to provide. I can get on board with calling it an investment, but it's clearly a speculative and high risk investment. Based on its characteristics, it cannot be more than that.