Quote from: nur rochid on July 25, 2019, 07:30:55 AM

Quote from: deisik on July 24, 2019, 04:57:15 PM

Quote from: Kakmakr on December 07, 2017, 06:43:06 AM

The debate is still on-going if large investments from institutional firms, would be good or bad for Bitcoin in the long run. Some are saying it will bring more volatility and others are just happy that the price will probably go to the Moon.

There are also conspiracy theories doing the rounds that these institutions will use their financial powers to destroy Bitcoin.

Some are even saying that the small fish will be eaten by the big sharks. Let's consider the impact of this and how this will change the Bitcoin scene.

Will Bitcoin go 100% commodity & store of value or will it still be used as a currency?

I'm not sure if Bitcoin is used as a currency now

From my perspective, Bitcoin as well as other cryptocurrencies remains and will remain mostly a speculative asset. It is unlikely that we are going to see much interest from institutional investors any time soon. Really, what's in Bitcoin for them? It will be a free lunch and easy money for ordinary folks like you and me. But that has never been the case in the past and won't be in the future. In other words, "local" people tend to overestimate the importance of the whole crypto universe. It is small and insignificant (for big guns)

I think only a small number of countries use it as a currency, there was news that Japan started using bitcoin to pay company employees, from there there were institutions that believed in bitcoin, but I think it was only an alternative, because we know there are still many countries that reject it

That's not even so much about legal status of Bitcoin

As they say, you can take a horse to water but you can't make him drink. In the same manner, you can legalize Bitcoin completely but you won't be able to make people pay with it (unless you actually force them, e.g. via taxes). People are using cryptocurrencies for speculative purposes (and as a store of value, to a degree), but paying with Bitcoin for everyday things is like heating your home with banknotes (though it still remains an option)