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by bradam 1856 days ago
Can you please point me a source where Bitcoin is "desired" as a payment method? It's seen more of a store of value, not used for paying for everyday things.
4 comments

Sure!

The original Bitcoin whitepaper from Satoshi Nakamoto is available here: https://bitcoin.org/bitcoin.pdf

It is titled "Bitcoin: A Peer-to-Peer Electronic Cash System"

So, based just on the title, it's pretty clear that it's original intent was as an electronic payment method.

The first sentence of the abstract is: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution"

If you read the rest of the whitepaper it's pretty clear that the original intent was as a mechanism to facilitate payments and transactions.

That's BSV, maybe. Bitcoin core deviated from the original white paper long long ago
Are you arguing that the original Bitcoin whitepaper is invalid as a source of whether Bitcoin is "desired" as a payment method?

Clearly, at least one person (the author of the whitepaper!) "desired" Bitcoin as a payment method. They desired it so much, that they went off an invented it!

If that doesn't count as a source indicating what someone "desires" then nothing does.

The "store of value" thing was made up to keep the speculation bubble inflating when it became clear Bitcoin had no practical use.
Isn't the revisionist history amazing? All of the other use cases (e.g. smart contracts) are proven failures and now the original use case (payment method) is also clearly a failure, so the narrative shifts to "it was never intended to be a payment method, only a store of value". A store of value that can drop 40% in days, BTW, another failed use case.
You’re asking for a source to prove that people want to use a cryptocurrency as currency? Feels a little like asking for a scientific paper proving that fish swim in water.
I would also love to have that source. Any statistics on % of crypto used for actual transactions vs only for trading?
It's not about it being valued as a currency for its objective characteristics, but rather based on the limitless enthusiasm of crackpot ideology