I'm in it for the money, looking for interesting investments and building up a crypto portfolio. Bitcoin is old tech, it's a digital gold as it stands right now.
There have been so many advancements in the tech, like Steemit - I mean wtf, running a social media website on a blockchain.... absolutely destroys the ridiculous fees on BTC and the inability of ETH to function during an ICO.
It's the first mover advantage Bitcoin has and also it's utility to function as a base of value for shitcoin trading and a gateway into the blockchain.
That's why it's going up, not that it can be used as a currency. It was just first and we all trade the shitcoins with the bitcoins.
:O
That's exactly what it is right now: a gateway and reserve currency in crypto space. If you have a few alt coins in your portfolio you will notice that portfolio value in BTC terms is rising regardless of the BTC volatility.
New fiat money flows into BTC and into alt coins, underpinning the value of BTC in the process.
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Reserve currency that's probably the best description that I have found on the internet for Bitcoin.
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