I think that often. Bitcoin was meant to be an currency, despite what I hear somewhere. If it has become a accepted store o currency it would need to be long excepted as such and we have people saying oh it's the new gold despite gold being around for 1,000s of years. Quite redicoulous to compare it to gold. We will see. It could very well be a bubble but I'm in it and like it and if it does evolve into a widely excepted currency, perhaps one major retailer could start it, it would be a great positive change

On the contrary, the value of bitcoin should rise consistently as it proves itself a more reliable and cost effective means of storing value than other investment vehicles. By the time, bitcoin's limited supply becomes an issue we will probably have seen multiple recessions and economic meltdowns, we'll likely have seen multiple stock market crashes and possibly even the crash of the dollar and euro.

If bitcoin holds steady without any major malfunctions during what could be a difficult future in terms of economic and financial forecast, its value should climb steadily in comparison to other stores of value.

Introducing infinite supply is to invite the same economic maluses venezuela is experiencing at the moment with the bolivar. Hyperinflation is a real thing. Satoshi's vision was to implement an algorithmic method of currency supply and it might be said that bitcoin's current success is derived from this. If bitcoin had infinite supply and an arbitrary subjective method of supply, it would likely never have enjoyed the success it has.

You are missing my point, the reason for this thread. I agree that the price of bitcoin will go up. The issue is, as more people hoard, there are fewer transactions, and thus not enough fees for miners. That is why I do not see how bitcoin is sustainable if it is only a store of value.

I see what you mean, but if the price constantly rises, people will inevitably regard bitcoin as an asset, because you wouldn't want to pay for your grocery with bitcoins if you know that today a certain amount of btc costs $10 and tomorrow it will cost $12; in such a case you would choose to pay with fiat currency and hoard your btc.

I think in order for btc to become a daily mode of payment, the price has to stabilize first. But I don't see that happening in the near future.

Why not? People keep their wealth in a store of value (e.g., fiat currency savings, bonds, stocks, mutual funds, real estate, gold) and then sell those items as they need that wealth for spending.

If you have no limit of coins available the supply outweighs demand and the value goes down....and as the value goes down people realize that bitcoin is no longer a good option to store their wealth, and the whole system crashes. This is what fiat currency systems are driven by, that's why the spending power of your fiat money erodes over time, that's why regular commodities (things that have no increased tangible value, i.e., milk, eggs, gasoline) increases in cost over time.

Bitcoins are observed to be more of an asset than a currency that you can use for payment at stores or malls, but it is only really so because of the number of support it currently gets, as the support rises we should soon see that bitcoins will be used as currency more often.

If the btc supply is infinite then who would be willing to spend more than $ 10k to buy 1btc? And you have to know that then btc will be back to the starting point. Surely no one would expect this to happen.

Yes, I am about of the same opinion, because it's true, if it's got so much excitement surrounding it, then why not keep your investments in it? That's very reasonable.

If your saying increasing the supply is the solution(correct me if I am wrong, that won't be happening. First, the Bitcoin was set to only be 21M and Second, increasing the supply will mean decreasing the value of it in the market which I think all of the investors will not agree with.

You have it backwards. If it is ONLY used as a store of value, and the supply is limited to 21 million, then the value on the market will decrease, possibly going to zero. The only way that bitcoin can survive is to increase their supply. Read the above posts in this thread. What people think is going to happen if they increase the supply is irrelevant. The market wins in the end.