Is Bitcoin a ...
scheme / system?
(as in a ponzi scheme, central banking, communism, capitalism, ...)
✔ Yes. It is an incentives scheme invented by Satoshi Nakamoto. No, he didn't invent 'blockchain technology'.
organization?
(as in a company, firm, ...)
✔ Yes. It is a group of people driven by a common goal, organized by the Bitcoin incentives system invented by Satoshi Nakamoto. The organization is sometimes referred to as the Bitcoin d.a.o. (decentralized autonomous organization)
security / share ?
✔ Yes. By buying bitcoins you are making an investment in the common Bitcoin enterprise, with an expectation of profit, which predominantly comes from other peoples' efforts. By owning bitcoins you even have voting and dividend rights.
payment network ?
(like paypal, visa, ...)
✔ Yes. The product that the Bitcoin organization offers to its customers is a value transfer service.
money / currency?
✔ Yes. Bitcoin is the native currency of the bitcoin network.
commodity?
✖ No. It is not common, i.e. producer independent. Only the Bitcoin organization can issue bitcoins and bitcoins only have value as long as this issuing organization remains operational.
Is BCH Bitcoin?
✔ Yes. Both BCH and BTC are products of the same organization. Same as Messenger and WhatsApp are both Facebook. Same as Coke Cherry and Coke Zero are both Coca-Cola. It is a common practice for one company to offer multiple competing products. The company does not care much which of the products win in the market, same as the bitcoin miners and pre-split shareholders don't care whether BTC or BCH wins. It is also common for one company to have multiple types of shares after a stock split - see for instance GOOG and GOOGL.
"Yes. By buying bitcoins you are making an investment in the common Bitcoin enterprise, with an expectation of profit, which predominantly comes from other peoples' efforts. By owning bitcoins you even have voting and dividend rights."
The dividends link does not work (anymore?). I'd love to know what this was about!
In a sense, I understand your logic. Since Bitcoin in both BTC and BCH versions is mostly used as an investment for the time being, the profit expectations in fiat terms are what describe it more than its functionality as money.
There is an oxymoron here, though. If Bitcoin was used as money largely, then wouldn't it also be an investment (expectation for profit)? (I added the questionmark after editing. It was meant as a question).
Traders (and investors) trade fiat currencies while expecting profit. Forex trading (or investing in dollars when you expect for example the euro to drop) is not trading of securities and doesn't make the euro or the dollar a security.
Another issue in the limited timeframe (the 14 years Bitcoin is live) is not what the long-term expectance from cryptocurrencies is about. They are expected to act as money. If not, then Bitcoin (BTC) has to be categorized as an obscure security.
The difference is the timeframe. A longer period of time (e.g. 50 years) can be the judge. If Bitcoin (Cash) fails to find meaningful adoption then it will also fail as an investment.
BTC as well (IMO). Speculation has limits. Pumps follow dumps and it won't survive as a security as it does not offer something besides the store of value illusion.