Quote from: fuguebtc on Today at 09:31:14 AM

Quote from: BitGoba on August 22, 2025, 06:53:34 AM

Bitcoin is a decentralized monetary protocol and money. Money has only three uses a medium of exchange, a store of value, and a unit of account. These are the only three uses of money, and Bitcoin can be used for all of them.However, many people do not understand Bitcoin and treat it as a speculative asset instead of a superior form of money suitable for long-term savings.
The advantage is that you can buy cheaply when many dumb investors are selling. It’s true that volatility scares many normies, but once they realize that Bitcoin only grows, and when it surpasses one million dollars, the volatility will decrease and more normies will start using Bitcoin.

I believe it's not that people don't understand, but they don't want to use bitcoin as a currency because it doesn't bring as much benefit as using bitcoin as a speculative asset. What good is a private, decentralized currency if we are not rich, do not have much money? Do you see any poor people who care about privacy and how does it benefit them? So there is nothing wrong with bitcoin becoming and being used as a speculative asset rather than a currency.

It is true that as bitcoin gets bigger, it will become more stable, but you need to know that if bitcoin reaches 1 million bitcoin transactions will become very expensive. So I don't think normies will use bitcoin as currency at that time.

When bitcoin hits 1 million, bitcoin will be reserved for the rich and used as a safe haven instead of a currency.

It seems to me that bitcoin is now used more as an investment than as a currency, since the possibility of convenient payment with bitcoin is not yet so widespread. But as an investment, it is a very good option, and its high volatility is a good opportunity for this.