Quote from: Ozero on August 16, 2021, 11:49:56 AM

Bitcoin is now bought mainly as a store of value, hoping that due to the rise in its price, it will be profitable. Therefore, it makes no sense to buy goods and services for it, because the transaction time and transaction costs are large compared to other cryptocurrencies.

As I just wrote in this post, what you described has always been the case with bitcoin--very few people have ever wanted to spend it, including the old school bitcoin whales who were banking on it going to the moon. Bitcoin certainly can be used as money at places that accept it as payment, but the insurmountable problem is its volatility. When you have the chance to make a profit by holding bitcoin because it's always going up and down, why in the world would you want to spend it instead of fiat, which is never going to increase in value?

Quote from: Ozero on August 16, 2021, 11:49:56 AM

At the same time, if bitcoin stops growing in value at its current rate, people will switch to another cryptocurrency unless bitcoin fixes problems with low scalability and high transaction costs. There is a problem and it needs to be solved.

I disagree. Unless bitcoin starts to plummet, people are still going to use it as a store of value--and that's only if altcoins don't plummet right along with it, which would most likely be the case.