Most of us use bitcoin for three main purposes – payments, investments and speculation. The first use case is rather self-explainable, people transfer bitcoins in order to pay for all types of stuff, website hosting, logo design, or even a cup of cappuccino. Today the bitcoin is so widely accepted that it is possible to pay for nearly anything, although not yet everywhere. In particular, bitcoin is quite a common payment method for many shady translations, gambling, purchase of illegal goods and services and so on.
When it comes to investments, it is not tricky too. People purchase bitcoin and they expect this crypto currency to appreciate in the future. Most probably these investors wait for the turning point when bitcoin mining will be completely over.
Speculators are people similar to investors, yet their vision is way more shorter. Instead of waiting for bitcoin price growth over the course of a few years, these group of people tries to make profits on the bitcoin’s ups and downs that happen nearly daily. Yet there is much more you can do with the bitcoin, and some of these activities do not even require you to have any bitcoins.
Most of the bitcoin speculators are