I won't even disagree that bitcoin is mostly used for speculation, because it's a pretty safe assumption. But even so, let's not pretend that it's not being used as a currency and as a store of value. Are we going to totally ignore it's important uses just because a lot of people use it for speculation?

As for the typical I've-seen-this-a-million-times bubble question, sure. It has bursted a couple of times in the past already. But every single time, the price floor has been higher.

Pretense will only get us so far, I still believe that bitcoin is both a currency and store of value so as not to garner any argument on which is which. I wouldn't really say that it is a bubble because I believe that once a bubble burst, there isn't any way that it can recover back like what happened in South Sea Bubble and Tulip Bubble, there are exceptions when defining a bubble though which is pretty confusing for me because Real Estate bubble burst but it seems to bounce back because of the government backing it up to grow again like what is happening currently in China.

Yes. Because what Bitcoin really is for will depend from person to person. Just like how some people use smartphones mostly for flaunting their new sneakers and their Starbucks on social media, while some people use smartphones mostly for conducting business, and etc. It's totally subjective.

And yes. Bubbles doesn't necessarily mean something permanently crashing. A certain asset/asset class being called a bubble mostly just means it's overpriced/overhyped and that it will heavily consolidate at some point.

The thing is... you want to present Bitcoin as a "Rich Man" toy and that is wrong. A lot of people are buying say $5 worth of bitcoins every week and that makes it affordable for the people that are not wealthy. (Go buy some shares for $5 ....not Penny stocks)  

The thing people are missing about Bitcoin's use is this... It is no different to other currencies (People trade on Forex with other currencies and they use currencies daily for commerce and the same thing is happening with Bitcoin)

Now, did we not have several other Bubbles in other financial instruments in the past? (Real Estate Stock Market Bubble Dotcom Bubble....) and guess what, they bounced back and people are still using them.  

That is just the nature of any financial instrument out there, so pointing fingers at Bitcoin is just wrong.  

it's not just a speculative asset but isn't it been used in buying stuff, some even illegal stuff that includes as practical use of BTC.  but it's usually used by people like us who keep trading BTC for speculation, there is nothing wrong with it though, it's been that way even the gold or any other fiat currency as well is used that way. the difference is that if we have BTC, it's ours not controlled by banks or nor government, and these BTC qualities can't be compared to any assets.

I wouldn't necessarily consider bitcoin as a bubble though, it is not backed by any government like real estate bubble which can be popped and blown all the time. Considering that some people overhypes bitcoin but at the same time the prices are going strong despite the speculation that a burst will come is enough evidence for me to say that bitcoin is not a bubble or if it is, it must be a new kind of bubble.

Bitcoin is obviously a currency, but when you compare its algorithmically decreasing inflation rate and supply cap to its 5 or so transactions per second, its monetary features as hard money (the hardest money ever known to humanity) obviously outweighs its ability to be used to purchases.

Its usage to buy things will obviously increase as PayPal adds Bitcoin transactions and eventually banks do as well. And as more and more txs move off-chain through these third parties, or perhaps even Lightning Network, there will be more and more options to spend bitcoin for things with low fees without congesting the blockchain. But it still makes far more fiscal sense to save your Bitcoin rather than spend it.

Also, since when is a store of value not a practical use?? Transactions are only one practical use of a currency. The other main use of currency is to store value, and Bitcoin will continue to do that better than any other currency ever created. Gold was a terrible transactional currency but a good store of value currency. Fiat is a great transactional currency but a bad store of value currency (it only take 35 years to lose half your buying power from 2% annual inflation). Bitcoin is a bad transactional currency though that is improving and will continue to improve with more txs going off-chain, but it is the ultimate store of value currency, so good in fact it completely overrides the point of using it as a transactional currency.

People can decide for themselves if they want to save or spend any given currency. The monetary policy of Bitcoin's design just makes it much wiser to save it rather than spend it.

But in reality, with them continuing to buy and sell bitcoins, bitcoin continues to grow and develop until now. But indeed, buying and selling is not an end use but the activity has become the main thing that makes bitcoin more widely accepted, because its practical use requires a lot of support but unfortunately that is not the case.
Whether the hard rise and fall in price isn't an explosion, the popularity of bitcoin has proved an explosion in itself.

Of course, after all these years and Bitcoin has been into a lot of improvement in terms of popularity and it fixed all of its misconceptions, you cannot flee from such kinds of comments. maybe they have their own reasons but you have your own mind. You can use it to follow what they're thinking or you will use it to find the truth as you wish. As you can see, it's not speculations anymore as it's kinda right here in front of us happening you can go to the crypto market if you want to check it. I mean, if you keep taking those words from them, you will lose your chance to earn from this prosperity which we are all waiting for.

well, if that soo, why early buyer doesn't sell it, for me its more than speculative tool , or to be clear, i do not really care about people think bitcoin its not currency or whateva. u know what , even JP Morgan has saying to Allocate 1% to Cryptocurrency Assets which mean its clearly can be investement assest.