Quote from: hatshepsut93 on July 16, 2018, 10:20:49 PM

There's no such thing as intrinsic value, and Bitcoin isn't just store of value or just currency, it has many uses and people around the world are using it according their needs. Preserving value, investing, hedging, medium of exchange, long distance transfers, shadow economy and so on - there are many uses for Bitcoin and they all give Bitcoin subjective value.

I am not disputing the fact that Bitcoin has several uses. However, i strongly disagree that "there is no such thing as Intrinsic value"when it comes to Bitcoin.
Bitcoin has intrinsic value, i believe it is exactly that, which attracts individuals and cooperates organisation to purchase it.

My point exactly is that, in spite of the several uses of Bitcoin, the most dominating use is "Investing" or "Store of Value".

One major reason why most people purchase Bitcoin lately is not because they wish to transfer money over a long distance or use it as a medium of exchange. But rather, because they wish to hold the coin and wait for "green season" to sell it and make outrageous profits.

From this, i believe Bitcoin has uni-directionally been channeled to serve as an investment currency/coin, whose demand is solely contingent on investor/traders interest to purchase more coins to keep or sell coins at high prices to gain profits.

If Bitcoin is global perceived as a coin relevant for investment, i bet only rich individuals and cooperate organization will be the able to purchase/invest in it. The ordinary person can not / would not be able to purchase even one hundredth fraction of the coin to conduct basic transfer of money over a long distance etc....