[Retric]

Bitcoin has also clearly failed as a medium of exchange, but I rarely see people try and defend that.

It’s talk of Bitcoin as an investment that is more troubling. You can make money buying gold or whatever at the right time, but it’s a hedge not an investment. Holding gold has real costs and their is no dividend just the next buyer.

[hndamien]

I’d agree with that. It’s an investment in the sense of currency speculation (which is a bit of a big bet now at this size it’s a fairly legitimate currency). It is really just a hedge and a cash position, and maybe part protest, not so much an investment. Store of value.... maybe.

I don’t think it has failed as a medium of exchange though. I used it yesterday as one. That said, it hasn’t filled as niches there, specifically the major ones.