Regardless of this you just mentioned people still use bitcoin as a medium of exchange, and also it serve as an alternative means of payment. Bitcoin has been in existence now for a very long time, and very soon btc will be considered the number one means of exchange globally.

Indeed bitcoin is perfect the way it is. Like I said earlier most persons know bitcoin as a currency with good store value rather than a normal day to day currency for transactions. Bitcoin was created to avoid trust issues or involvement with a middle man in a business transaction  and till forever I pick bitcoin than any other currency the fact that one can securely make transaction anonymously without anyone noticing is amazing. The only set of persons who still tags bitcoin as a scam project are those who couldn't buy on time and they are just filled with regret or those who didn't read or get proper information about how transactions are made and they make mistakes. Or those who intend trading short terms and couldn't make a profit in a short period of time. Bitcoin is not a get rich quick scheme it requires patience to earn good profits from the market.

We should accept and face the fact that today's world only considers bitcoin as a commodity, most countries accept and legalize bitcoin as a commodity. No major country allows people to use bitcoin as a currency and not many people want to use bitcoin as a currency anymore. Most people are only interested in making a profit from it, including you.

To put it bluntly, bitcoin has almost no chance of becoming a currency as it was originally intended to be, things have gone in a completely different direction. And what's more important is that everyone is happy with bitcoin's current role, no one wants to change it.

that bitcoin has moved from being just a currency to an asset that is considered to be worth buying, selling and holding shows how multidimensional and yet valuable it is and with that, it future is still going to be bullish. even with attention a bit shifted from using bitcoin as mere currency to considering it an asset, it is still moving in alignment with the earlier vision of satoshi even if it has gotten better and has reached a far audience than satoshi might have thought it will get to by this time. when dollar was gaining over some local currency, people shifted the way they looked at it from just the point of view of an ordinary currency but rather considered it an asset that can be help for future potential bull. if i want to make a cross boarder transaction, the first thing that comes to my mind is to make use of bitcoin as the easiest and most reliable source and that makes it still in alignment wish satoshi's initial view and plan.

If I understand your idea "regulation" correctly in the sense of a kind of "pact" between distinct countries to refrain from restrictions and limitations to cryptocurrencies and to support its usage (e.g. accepting Bitcoin for taxes from merchants), then I could agree that this could become helpful to transform Bitcoin into a real "currency". I don't think it's really necessary though, I think it can also work without the governments' help.

Such an agreement could be made in the mark of an existing organization like the World Trade Organization. Even better though, it would be interesting if a "pro Bitcoin bloc" of Bitcoin-friendly countries could be created. Such a block could come with an own set of cryptocurrency-related international agreements, e.g. for consumer/investor/merchant protection and so on.

The big question is of course: The only really Bitcoin-friendly country so far is El Salvador, some other relatively friendly ones like Singapore aren't at the same level. Will the US for example join this club as Trump promised? What about European countries (Czech Republic for example)?

I think this is the main point, considering that we are now entering the modern digital era, where most people now always prioritize digital methods such as digital payments and etc. So I think bitcoin will still be a good asset to choice.

The adoption is key to it.
And it will happen, sooner or later, that everybody is going to crave BTC. As a currency, as for the reserves  - you name it.

That's totally okay to use BTC only for bigger purchases due to the chain being congested otherwise.

Currently, most of us see BTC as an investment - I mean, in a practical sense.
Maybe in the future that would change, however - not for now and this cycle.

I agree with you. The real attraction of Bitcoin is its value growth and investment potential.  It is not only created as a medium of exchange, but people buy or trade it mainly for profit.  If Bitcoin didn't go up in price, it would be like a normal currency and no one would care. Although it is possible to use it for transactions, very few people actually accept it as payment, as most people see it only as an investment opportunity.