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?
Many misbeliefs in here.
1) there are no similarities between gold and BTC.
2) BTC may be undecryptable without key, but it is definitely VERY hackable.
3) transactions fees are very low. Its not actually only good, its bad as well. Whales can move coins between their own wallets and therefore mimic market activity at current price level.
4) deflation is bullshit. My salive is limited too. It is unique with my DNA code and scientists can figure out, how much of it, could I produce. It wont make my saliva useful, would it?
BTC is used for: speculation and money laundering, but most importantly: its a huge scam mechanism.