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?
Although I agree with you in most of what you said, I don't agree with you as to buy coin not being a medium of exchange.
But coin is designed to be currency, and it is traded and used like a currency. However the most important aspect of bitcoin is probably it's store of value. It's like the digital gold because production is decentralised and controlled by absolutely nobody.
It is a medium of exchange just like fiats. In fact, bitcoin is much more portable than gold itself, and more divisible as well.
There is no need to test the purity of bitcoin, as every unit is the same.
When bitcoin reach all time high, I got it why it can not state as a currency because bitcoin can't afford so many transaction and we have to pay higher fees to send it and make longer to be confirmed which consider as big disadvantages than other fiat currencies.
I agree bitcoin can be a medium of exchange, same as gold or another precious things but not as currency just like fiat money, for now.