When there is a disagreement on the subject, many people are quick to refer to the Bitcoin white paper. They believe that Satoshi's intention was for Bitcoin to be used for transactions from the beginning. In fact, the phrase "Bitcoin: A Peer-to-Peer Electronic Cash System" is in the paper's title.
According to the theory, Bitcoin can only have value if users spend their coins. You are hurting adoption by hoarding them, not helping it. If Bitcoin isn't widely accepted as a form of electronic cash, its main idea isn't motivated by utility but rather by speculation.
These ideological divisions caused a severe bifurcation in government in 2017. A small portion of Bitcoin users preferred a system with larger blocks, which would have resulted in lower transaction costs. The cost of a transaction could climb significantly as a result of greater use of the original network, pricing out many users from lower-value transactions. It makes little sense for you to spend coins on a $3 purchase if there is an average fee of $10.
The network that was forked is now known as Bitcoin Cash. Around that time, SegWit, an upgrade for the original network, was released. Although it was not SegWit's primary objective, the blocks' notional capacity did grow. Additionally, it prepared the basis for the Lightning Network, which aims to push them off-chain.
The Lightning Network is far from ideal in actual use, though. Regular Bitcoin transactions are far simpler to comprehend than managing the channels and capacity of the Lightning Network, which has a high learning curve. It will be interesting to see if it can be simplified or if the design of the solution is fundamentally too complex to be abstracted away.
On-chain transactions are no longer as inexpensive during busy periods due to the increasing demand for block space. Therefore, one could argue that maintaining the current block size harms Bitcoin's utility as a medium of exchange.
https://academy.binance.com/en/articles/is-bitcoin-a-store-of-value
Bitcoin is digital cash in future world.
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Bitcoin will be a digital cash.
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