Quote from: Rufsilf on Today at 06:46:50 AM

Quote from: magnum1010 on November 06, 2021, 04:13:27 PM

Quote from: shield132 on October 19, 2021, 10:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Actually, I consider bitcoin now to be rather a speculative asset than a means of payment as it is volatile. But I think that within time when crypto will be more and more adopted in different spheres, Bitcoin will become less volatile and it will not change its price so rapidly.
Bitcoin has many advantages over traditional currencies, that is why people are willingly using it and it forms Bitcoin's price.

Yes bitcoin is made to be an international currency to be a form of payment, using a P2P tech with no central authority to act as a middle man. But bitcoin now is more like of an asset or investment to gain profit because of its increasing value due to people's speculations or investment, and it is extremely volatile for now to be used as form of payment. But soon when it's scarce enough maybe the price won't be moving like this much.

But i'm sure bitcoin will always be volatile no matter what and that does not mean that this is not the right time yet to turn it into a good currency. Actually, there are already big companies that are making bitcoin as a means of payment and its volatility is not a hindrance. Although adopting bitcoin as a currency will definitely be a tough process, but i know it will be smooth sailing later on just like with El Salvador. So with this huge demand from bitcoin, maybe we can use it more as a currency and a good investment at the same time.