I am struggling to understand how Bitcoin is going to be used.
I know its long standing coin, gold like qualities, not hackable etc. But when it comes to how it can be used, I could not find any answer. High transaction fee, limited coins cause deflation, too volatile etc. General public, corporations cannot use it. Gold is different, there is nothing like gold but we have better coins than this.
Will this be used for only speculation, betting? How would general public / institutions use it in future?
There is still a void in simple front end applications that will help the general public, this is a new technology and it will take some time to carter each and everyone, in this short span it has attained a lot and it will be used to trade as simple as that, the transaction fees are not high at the moment and i hope they will implement better solutions for scaling in a couple of years. I am not sure about any other coins better than bitcoin and if you are aware of it, i would like to hear one coin which have a much better scaling solution that could accommodate everyone.