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?
Limited supply causes inflation. Not deflation.
Bitcoin and other cryptocurrencies are volatile as those are not using by the majority of the world population. Therefore it may take time to see a price stability until a considerable number of people start using bitcoin
Currently bitcoin is traded based on speculation in my opinion. But bitcoin will be a major currency like USD soon when majority started to use it.
There are simplified bitcoin payment apps and solutions coming from various vendors. This will make bitcoin is more accessible for public which leads to more bitcoin adoption.