I meant bitcoin. Here's a list of companies accepting bitcoins and it's growing. https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/ Do agree with you that the price fluctuates a lot currently against fiat currencies. In the future, we hope that it could be solved when everyone has adopted cryptocurrencies, where bitcoin would be the base currency for altcoins. Fiat currencies fluctuate, like 1% a day? Later on, when the bitcoin price gets higher, it will likely to fluctuate lesser (percentage).
"You cannot value Bitcoin or invest in it, but you can price and trade it. It is a currency, not an asset" - Aswath Damodaran https://aswathdamodaran.blogspot.com/2017/10/the-bitcoin-boom-asset-currency.html
I know you mean bitcoins.. but in the same argument you say that bitcoin would be the base currency for altcoins. So other coins ride on the back of bitcoin... basically eroding the limited supply argument IMO. And that right there is my argument for not buying it. In hindsight.. could've would've should've... of course shit that I didn't buy it or start mining other coins in 2013 when I got interested in it... But, I still hold on to my view that it's faulty, because this argument of limited supply is used over and over again... but it doesn't hold. The amount of billion dollar market cap coins that is available shows me that. And the fact that nobody will even try to give me a proper valuation... You seem pretty much involved. Can you show me the number of unique users? And what the value of actual real life purchases is? So not trades between currencies... but goods and services?
I currently only trade bitcoins and I have not actually bought or sold any goods or services using bitcoins. Actually, I don't really care if it is going to collapse or the governments around the world ban it. All I am doing now is making as much as I could while I can. However, I foresee that there's a potential. And without major government interventions, it could be the currency of the future. Bitcoin will only gain more and more acceptance. There's no turning back. Of course unless the governments are very hard on taking it down. Some people try to compare bitcoins to tulips. I think it's a wrong comparison because people bought tulips because they thought they could sell it higher and treated them as assets instead of currency. Bitcoin on the other hand is a currency where people will be using it in every day life. Just like the fiat currency notes, they don't lose their values because everyone accepts that they are valued that much. So does bitcoin.
I don't think there's anything wrong perse with trading it... But you're now contradicting yourself... in saying that people only bought tulips because they thought it would go up... and that BTC is a currency where people will be using it for day-to-day stuff. You haven't done any of that... and I've encountered a fair few of those on ET, that fully believe in bitcoin but only trade it speculatively... Also, I believe many Bitcoin-people will disagree with your notion that it's not an asset... many see it as equivalent to gold. That's the whole problem... it's purely on a speculative run...