Quote from: chanler on December 14, 2020, 11:41:57 PM

Quote from: imteaz on December 11, 2020, 08:46:39 PM

Bitcoin has achieved its goal a long time ago when it went from $1 to $100.

Do you think the goal of Bitcoin about the price? I don't think it is the goal of Bitcoin created by Satoshi. Satoshi created Bitcoin for an alternative of payment purpose that never uses the third parties. So, we can transfer it any time and with low fees. This is the real goal of Bitcoin written in the whitepaper of Bitcoin.

The price itself is irrelevant, but the volatility and long term stability of the price is important if Bitcoin aims to be used widely for payment purposes. If it provides low fees is very debatable, it is only suited to move large amounts of money as if people would start to buy bread with it, transaction fee would be way too high.
Current state of Bitcoin is desperate, it is used for high risk speculation mostly. Merchants accept Bitcoin more and more as it becomes cheaper to achieve this as payment providers include it but without price stability almost nobody will use Bitcoin itself for daily payments in the future.
However, as most people are committed to get wealthy by investing in Bitcoin, the incentive for price stability is very low, therefore price will continue to be volatile making Bitcoin a Ponzi-Scheme for the most part.

Quote from: Vishnu.Reang on Today at 01:13:15 PM

Quote from: babuB on December 14, 2020, 03:31:50 PM

When BTC price has stabilized for like 5 years, maybe it can then be used as store of value or as currency. Before that it will mainly be used as cash cow and high risk investment.

For usage as store of value, it is not necessary that the prices should remain stable. On the other hand, an asset which can be used as a store of value should have a constant, or increasing purchasing power. A perfect example is that of gold. It's price has increased by almost 100 times during the last one hundred years. But it's purchasing power has remained more or less constant.

If an asset is known to be highly volatile you do not invest into it to 'store' your value, people do not buy 1 BTC today and hope to receive the same purchasing power in 20 years, they buy 1 BTC because they believe the purchasing power of it will go 'to the moon' within the next 20 years.