High transaction fees have plagued Bitcoin for a while, predating recent developments.  This undermines its initial vision as a seamless electronic payment system. However, dismissing Bitcoin solely as a payment system might be shortsighted.  The "wake up" call highlights the ongoing debate about Bitcoin's true purpose.  Is it a digital currency for everyday transactions, or has it evolved into a valuable investment asset?

Observation about current buying trends is interesting.  Most people seem to be buying Bitcoin for investment purposes, holding onto it for potential future gains.  This creates a paradox – a currency people are hesitant to spend. The existence of businesses accepting Bitcoin while customers still prefer fiat underscores this point.  People are willing to hold Bitcoin as a potential store of value, but everyday transactions remain dominated by traditional currencies.