These books are available for free in multiple formats: https://mises.org/library/murray-n-rothbard-books


Money as a means of preserving one's wealth is rather a secondary function for the reason that most folks have very high time preference. They strive to satisfy their needs as quickly as possible, can't afford to postpone consumption. Moreover, basic needs are what all people have to satisfy in order to survive despite the time preference they may have.


Bitcoin blockchain is a settlement layer on top of which we can build as many layers as we want.

yes, all of that is true and I agree, and if bitcoin is used as the main legal payment instrument it will be a bit of a hassle because the value of bitcoin is very volatile and there is also a limited supply of bitcoin as well.

As an asset, we do not have to use bitcoin for a day-to-day transaction. We have the other coins that have a low fee for making a transaction, and I am sure that it will come the day for us to use that coins to store our bitcoin for the other purposes. So if you want to have fiat, you can sell your bitcoin, and do not use bitcoin for another transaction instead to save more bitcoin. People will have their own decision to use bitcoin as their daily transaction or use the other altcoin because it is about comfortably for each person will be different.

Maybe they will not agree about bitcoin now, but we can hope that it can become a reality in the future. Using third-party processors can be an alternative for people to pay, and I think they can try to look if there is another option to pay, so they do not have to pay using bitcoin if they doubt bitcoin. As the bitcoin price now increases so high and that attracts the fee to increase, maybe that is why people not to agree to use bitcoin.

Bitcoin is the central bank. You dont use the central bank for your day-to-day transactions but it is backing the whole ecosystem.

If it is about transactions, yeah it is surely, Moreover, we know that besides the fee is very high, we may not be able to find many merchants around us to make a certain transaction with Bitcoin. Moreover, as what happeneds in my country, BTC is not legal for transactions or payments. So, it is very limited.

But it is also something very valuable that we cannot miss. Besides proving very valuable log=term investment, Bitcoin is also very promising for day traders, both spot or even more to the future trading. I am not really good at future trading and I am still very new about it. But for sot, this si also profitable for the short term.

Somehow, the explanation of OP is what really the truth is and I can't deny it but it seems to me that only those people who thinks Bitcoin is for investment only and not for day-to-day transaction. Bitcoin is designed as a currency and because of people starting to adopt to it the value of it is increasing. So for people who spent Bitcoin for everyday use that is how we use Bitcoin and for holding forever, you can't enjoy your reward if you keep holding it waiting for the right time to dump. Sell some and reward yourself!

You have a pretty good area surrounding you then, a lot of business accepting cryptocurrency payments is something. Although, I have to disagree with you, for me it is not a day to day if in general consensus because a lot of businesses are tied to banking institutions and small businesses do not want to gamble by getting into cryptocurrency as part of their daily transaction, maybe for some it can be like yours but for me on a practical standpoint I do not think so.

The idea behind the creation of bitcoin was to bring into existence an alternative currency to the fiat system. It technically didn't present itself as an asset although it does has the features of one due to its finite supply and the fact that it's tradable. Assuming bitcoin was foresaw as a potential investment vehicle, maybe the price would had been trading at outrageous prices by now because the elite would had bought all the bitcoin from circulation as they're trying to do now under the disguise of been Institutional investors.

Bitcoin can bought be used as an asset and a currency, it has these features already built into its network. One shouldn't be discouraged while the otheyis been advocated for. We need both features ti succeed in order for bitcoin to become a success. It'll be worthless when bitcoin is priced high yet can't be used for purchasing anything as a currency it claims to be.

In regards to the day to day transaction, it's no news that bitcoin is been used already for these type of transaction. If your region that have any of those options yet that doesn't mean other regions don't have.

No, bitcoin was originally conceived as an alternative means of payment to the existing payment system specifically for everyday transactions. However, their number has now grown so much that, given the sharp increase in its price, it has really become profitable to use it only for large transactions. Perhaps this status will be fixed for bitcoin.