Quote from: retreat on Today at 06:03:07 AM

Quote from: Relonage on April 07, 2024, 02:46:17 AM

Coinbase's institutional research analyst, David Han, dropped a report yesterday, highlighting Bitcoin's evolving status as digital gold. This increasing acceptance of Bitcoin as a 'digital gold' could potentially attract a fresh wave of investors into the market. This means that more demand brewing in this market ecosystem.

I actually thought that it had no effect at all. Because Bitcoin is different compared to gold, even though many people analogize it as 'digital gold', if we see that Bitcoin was developed not to be 'digital gold' by Satoshi, but as "A Peer-to-Peer Electronic Cash System". But today, people are starting to distort the true purpose of Bitcoin and make it an investment instrument rather than electronic cash, and I see that as a form of weakening of Bitcoin.

I wouldn't call it distortion but adaptation. Think about it, if bitcoin was not profitable and was only used as a decentralized currency, how many people would be interested in it? Not to mention, if it were used by us to replace fiat money, do you think the government would give us the freedom to use it?

I have also seen many people always complain when bitcoin is not used as a currency but only as an investment. But the funny thing is that those people are also counting on profits from bitcoin, do you expect to make a lot of money from bitcoin or do you just use it as a currency?

Additionally, bitcoin has been considered an investment since its early years, rather than a bitcoin ETF making it an investment. If you want to blame, blame the first people who put bitcoin on the exchange because they turned bitcoin into a speculative asset.