Quote from: kryptqnick on May 10, 2020, 10:24:39 AM

I think one of the key factors we should take into account to answer this question is how Bitcoin is used. If people use it to buy stuff, it's money. If they hodl during the hard times, it's a store of value (even if Bitcoin is going down but people keep holding it).

We can find a similarity with Gold and other precious metals here. People buy Gold because of its store of value but it can be sold anytime in the market. These are assets and not derivatives hence they are having a store of value but selling for liquid cash is possible.

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Here we encounter the problem of 'people' as different humans use Bitcoin in different ways. For me, Bitcoin is something I'd like to be money, but effectively is a store of value.

It also depends on usage availability you know. People living in countries where bitcoin is not used, but they are buying bitcoin hoping in future their governments will allow it, is a risky bet but a worthy one if it works out.

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For a person who was about to lose a fortune because of holding stock that went rapidly down due to the pandemic, it can be a save haven.

This is tough to actually execute. Selling bitcoin in every country is not always possible. Only then you can buy stocks. Embarrassed

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For people who bought some BTC with the stimulus money from the US it's an investment opportunity.

Eh, thats an exaggeration, people are mostly using it to buy essential stuff, live first then invest. Cheesy

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Bitcoin is certainly many things, and perhaps we should look at how it's used rather than argue how it's supposed to be used.

The conflict of interest occurs because some people are disgruntled on price changes and they want everyone to hold bitcoin. That is not possible.