I speculate that at first people want to use it as a store of value, but after a critical amount of holders, and having a lighting network, users and merchants could also adopt it as a currency.

A conservative scenario is that cryptocurrencies will not really become adopted other than store of value: I think even in this case BTC value can go up tremendously. It has benefits over gold: like easy and fast transport accross countries.

> I speculate that at first people want to use it as a store of value, but after a critical amount of holders, and having a lighting network, users and merchants could also adopt it as a currency.

Why would they? Why should I buy things with BTC instead of USD? The fact that I've yet to hear a convincing answer to this most fundamental question is the strongest indicator that BTC is a bubble.

I do agree that BTC could become gold, though.

If you already adopt it as a store of value it can be convenient to use it also for payment if:

- it is convenient

- has low transaction fees

- fast

But I agree, store of value is the most realistic mainstream usecase of cryptos.

USD beats BTC in all of those features.