Is Bitcoin a cryptocommodity or a cryptocurrency?
1) a currency must be exchanged easily. Now it's impossible to pay a coffee with BTC (scalability, fees), but we can pay a car because in the second case it's not necessary to have timeliness (it happens, for example, with wire transfers).
2) a currency must be a unit of account. How rich are you? You can answer me by quantifying your wealth in FIAT. But BTC is volatile. Today you can be rich and poor tomorrow. Currencies are stable (in most cases).
I think that BTC is currently an asset, the "gold of the future". I don't like this concept, but it's true.
Community must do something to reverse this transformation.
Only in this way Bitcoin will be able to fully express the potential of blockchain technology.
What do you think about it?
Earlier when satoshi was involved it was to be a store value, give a option to existing currencies.
As time evolved people realised that they could use it like a currency (while fees were negligible and it became a instant hit), some smart ones realised that it's best to treat it like a long term asset class.
In today's concept I would call it a hybrid product as it's both used as a currency and as a asset/commodity alternatives, it depends on what perspective one sees it.
Ps all that shines is not gold, It's Bitcoins only and like they say old is not gold, it's Bitcoins lol. Gold is waste of a commodity it can never be compared to bitcoins.