So I've been seeing a lot of talks about how Bitcoin has lost or is losing its identity because it is now regarded as an asset and not as a currency. I used to see the discourse a lot before but recently I've been seeing it more (don't know if it's just me). I have made a couple of replies on posts related to something like this on the forum.
So I really want to understand how Bitcoin has lost its identity.
There is nothing that has stopped bitcoin from being used as a currency. Certain factors make it difficult for businesses to accept bitcoin as a means of payment but I don't think the fact that it's regarded as an asset is one of them
From what I understand, these two features are not mutually exclusive. In the sense that Bitcoin can be an asset and can also be a currency. Just as the dollar is an asset and also a current. The difference, Bitcoin is a better asset than the dollar. I was not opportune or smart enough to be among the early adopters of bitcoin, so I'm going to ask a question to people who were, was there ever a time that people bought bitcoin for the sole purpose of using it just as a currency?
Like when they bought the coin, they had no expectation or hope of bitcoin appreciating so they could make a profit? I doubt that and if they did, then Bitcoin was always an asset from the beginning and also a currency.
So at what point did bitcoin start losing its identity?
People always like to run along with the wrong narrative, right from the onset bitcoin has always been a digital currency that has the potential of appreciating in value over time, although i haven't read about any story concerning bitcoin losing it identity, because for anybody to come up with that kind of concept clearly shows that the person hasn't been involved with cryptocurrency or bitcoin anytime. Bitcoin can be stored as an asset that appreciate over time and bitcoin can as well be used as a digital currency, there are lots of outlets out there that accept payment in Bitcoin so at what point did bitcoin lose its identity?