Bitcoin as good store for value - page 6.

legendbtc

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Quote from: tjtonmoy on August 13, 2023, 07:45:23 AM

The only thing that may cause some problems is Bitcoin's volatile nature.

I will just agree this with you. If bitcoin doesn't have great volatility, it really is the best store of value and no second asset can. But since it's unstable I wouldn't consider it a good store of value and more precisely, it's the world's best asset store because of its decentralization. No one will be able to interfere or freeze our assets and only we have full control over our assets in bitcoin.

But volatility is essential to an investment, so as long as bitcoin remains volatile, it will be a store of assets due to its decentralization and an investment, not a good store of value.

tjtonmoy

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The only thing that may cause some problems is Bitcoin's volatile nature. But this can be solved by doing DCA or just keep HODLing it till the price gets stable or increases in value. And having no complicated issues like physical investment, it is the best store of value for sure. Decentralization was the key to Bitcoin's creation. And it's doing a great job of making Bitcoin what it is today. This is also the reason why Bitcoin is the best store of value. No one can manipulate or control your assets as long as you keep them in your private wallet. Also if you are trying to send it somewhere, you can do it in an instant all across the world. What's more you need? You got the freedom with Bitcoin, it's easy and secure, and it can be transferred all across the world in a matter of time.
So yeah, I believe that Bitcoin is the best store of value. No doubt. (As long as you can keep it that way)!

Ayers

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Quote from: rat03gopoh on August 12, 2023, 12:40:57 AM

Quote from: Y3shot on August 11, 2023, 03:27:01 PM

Bitcoin is a store of value, it can converted from one currency to another without losing any value.

Bitcoin value is unstable, you know that.
Historically the value of bitcoin has increased cyclically, but along the way it has fluctuated greatly and you run the risk of losing a few percent of its value when it "done" at an inopportune time.
I only agree that bitcoin is good for storing assets without the intervention of ownership status as long as it is done correctly. At this point, you should be less concerned with the value.

You have a point there, if what the OP is saying is that bitcoin is an uncensored store of assets, with no bank or government interference, then I would agree with the OP's point. But if he means, bitcoin is a good store of value, then I don't think that's true.

Bitcoin volatility is not always profitable for all of us, there will be times when we lose money if we buy at the wrong time. Therefore, it cannot be considered a store of value. To store value, we need a stable and not too volatile asset like gold or other precious metals, their value is almost stable and the value of our assets will not fluctuate. Most people are confusing return on investment with a store of value.

michellee

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That is if people want to make short-term profits from Bitcoin. They will buy and sell Bitcoins for profit. But those investing their money for the long term will keep their Bitcoins for a certain period of time and then sell them.

If someone keeps their Bitcoins without wanting to sell them for a profit, maybe he has a very long term target or perhaps an inheritance to his children and grandchildren later. As a store of value, Bitcoin will become an important asset for those who see the potential for the price to increase very high.

But for now, people who hold Bitcoin should be able to stay calm because the price of Bitcoin is still volatile and will not be stable for the next few years. So if they want to make big profits in the future, they better stay calm and keep their Bitcoins safe.

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Quote from: Plaguedeath on August 13, 2023, 01:31:08 AM

Wrong, you need to have an device that used to be a cold storage or you can buy a hardware wallet, you also need to pay the Bitcoin fee and withdrawal fee if you use centralized exchange.

So what does this have to do with the OP saying that bitcoin is a store of value? How is he wrong?

Quote from: Plaguedeath on August 13, 2023, 01:31:08 AM

Bitcoin isn't a digital property, no one can live in Bitcoin, it's just your ridiculous imagination.

Did you know that bitcoin is considered a property in China that someone can own legally? If digital property is used for bitcoin, I do not see anything bad about that.

Quote from: Plaguedeath on August 13, 2023, 01:31:08 AM

Bitcoin isn't a property, but as a currency or commodity. If you want to compare Bitcoin as a store of value, you can compare with stock where it has some similarity.

You can compare bitcoin with anything that its price is increasing or decreasing.

You can compare bitcoin with fiat, stocks and others. But you should know that bitcoin is not a security but a commodity. It would be preferable to compare it with commodities like gold, but in digital.

posi

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Quote from: TravelMug on August 12, 2023, 12:30:23 AM

Quote from: posi on August 12, 2023, 12:21:56 AM

I don't know what people define as a good store of value, but to me it's an asset that isn't volatile too much and doesn't depreciate over time. In my opinion, gold or silver is called a store of value. Bitcoin is just a highly volatile asset, it is more suitable for speculative use than a store of value.

Yes but what separates bitcoin to the rest like gold or silver or any other precious metal is that we have a bull run every 4 years. So people might think of sitting their wealth or least a percentage of it to bitcoin and then hold or used it as store of value as it will grow overtime.

But like I said, a volatile asset that can help you increase your profits and also make you lose is called an investment, no one calls it an asset store. I know about the bitcoin price increase every 4 years, but what about in the short term? In just the last 2 years, bitcoin has dropped in value from $69k to $30k. Is it a good store of value? Even we don't have any proof that bitcoin will sustain its price increase going forward. That means there is still a risk for our asset, so it's exactly an investment, not a store of value.

Quote from: TravelMug on August 12, 2023, 12:30:23 AM

Quote from: posi on August 12, 2023, 12:21:56 AM

Another thing, bitcoin is like any other asset, you will also have to pay transaction fees, and if you are a good citizen, you will also have to pay taxes on owning bitcoin. So there is no way you can own bitcoin without any other expenses attached.

It's just the transaction fees that is involved, not sure about the tax as it depends on which country to live it and how they treat bitcoin legally or not.

Whether it's transaction fees or taxes, but we still have to spend extra money to be able to own bitcoins, we can't get free bitcoins.

Plaguedeath

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Wrong, you need to have an device that used to be a cold storage or you can buy a hardware wallet, you also need to pay the Bitcoin fee and withdrawal fee if you use centralized exchange.

Bitcoin isn't a digital property, no one can live in Bitcoin, it's just your ridiculous imagination.

Bitcoin isn't a property, but as a currency or commodity. If you want to compare Bitcoin as a store of value, you can compare with stock where it has some similarity.

hatshepsut93

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

A lot of people only think of how they can make money from bitcoin to become rich and this is all they can think about bitcoin. Bitcoin can be as a store of value for all assets, making every properties to remain valuable. Bitcoin is a digital property that can be bought without any other expenses attached to it unlike some physical properties expecially Real Estate that has other much expenses that is needed to be spent first before getting the main property, if one should consider to convert this property into another form it will take more expenses for it to get done.

How can Bitcoin be a store of value for all assets? There's no such thing, Bitcoin can't store real estate or stocks. It just stores some abstract value.

And it's not true that Bitcoin has no extra costs. You're supposed to pay taxes on your profits just like with everything else. Exhanges take fees. Decentralized exchanges have smaller fees, but you'll have to deal with risks of p2p transactions.

KiaKia

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

A lot of people only think of how they can make money from bitcoin to become rich and this is all they can think about bitcoin. Bitcoin can be as a store of value for all assets, making every properties to remain valuable. Bitcoin is a digital property that can be bought without any other expenses attached to it unlike some physical properties expecially Real Estate that has other much expenses that is needed to be spent first before getting the main property, if one should consider to convert this property into another form it will take more expenses for it to get done.

Bitcoin is a store of value, it can converted from one currency to another without losing any value. Their are other physical form in which people can consider to be a better way to store their assets, but getting it done it can take expenses that will make the asset lose value. The potential to make good gain out of an asset without losing its initial value proves the worth of the asset and this is exactly what bitcoin is as a good store of value .

Store of value my foot, Bitcoin is highly volatile, you should only invest what you can afford to lose, if you buy Bitcoin at 30,000$ and in two weeks time it's down 20,000$ will you still say that Bitcoin is a store of value?

It's easier to say because you probably invest into Bitcoin at the bottom of this bear market, what about those that decided to store their money in Bitcoin at 69,000???

First, try to understand what you are getting into before you start spreading false news around, Bitcoin is a store of value that comes with disadvantages, it's not a stable digital currency that keeps 1$ as 1$ for a long time, we have bears and bulls in Bitcoin investment for some reason, do your homework right.

uchegod-21

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

Bitcoin can be as a store of value for all assets, making every properties to remain valuable. ¹

if one should consider to convert this property into another form it will take more expenses for it to get done. ²

Bitcoin is a store of value, it can converted from one currency to another without losing any value. ³

The potential to make good gain out of an asset without losing its initial value proves the worth of the asset and this is exactly what bitcoin is as a good store of value . ⁴

With all indications, especially the paragraphs that I highlighted, it seems that you are missing the context of bitcoin being a store of value.
1. I do not know how bitcoin makes every other properties to remain valuable.
3. When an asset has the ability to be converted from one form asset to another without losing value, that does not make the asset a good store of value.
4. You also alleged that bitcoin has the potential of giving profits to the owner without losing it's initial value.

That is a bogus statement. If bitcoin price rises, it gives profit and when it reduces it gives losses. You can only be safe if you don't sell at loss and if bitcoin reverses from down trend to uptrend.
The best store of value is gold and not bitcoin. The volatility of bitcoin made it not to be a good store of value.

kryptqnick

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Bitcoin can be a store of value, but depending on the situation, it might not be the best option. For instance, some countries have very strong fiat currencies and banking systems, so people trust that enough to have no need for Bitcoin. In other countries, however, putting money into a bank account can be much riskier, and fiat inflation can be terrible.
Another factor to consider is duration. If a person may need access to that wealth within the next year or two, Bitcoin may be a worse option than something more stable like gold because it can be in the bear market for a long time. But it also has more liquidity because Bitcoin can be used as a currency, whereas gold usually can't be used like that.

Nrcewker

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Bitcoins value won’t remain same for ages, so I won’t consider it as store of value. Rather the value might increase as Bitcoins are limited in numbers. Bitcoins truly don’t need any maintenance and the key aspect is the fixed supply, hence many people are fond in investing the coins. Bitcoins have already surprised the investors by touching 69k usd, so for that reason many are considering it as a good store of value. Let’s see what new price Bitcoins touch in the next bull run.

Blitzboy

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People who think of Bitcoin as only a short cut to wealth are completely nuts. They miss the real significance of Bitcoin's potential as a ground-breaking store of value and only perceive monetary signs. Unmatched in its capacity to circumvent established financial systems, transfer money with ease, and hold its value over time is Bitcoin.

However, these same people will unavoidably succumb to the temptation of useless meme coins in an attempt to make quick money. Those fools will watch their hard-earned money disappear as they invest it in these "shiny objects." Money and a fool are soon parted. While true crypto aficionados profit in the long run by comprehending and appreciating the fundamental features of Bitcoin, others will have to learn their lesson the hard way.

aylabadia05

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

A lot of people only think of how they can make money from bitcoin to become rich and this is all they can think about bitcoin.

Because they don't want to think about how Bitcoin works, what they have in mind is that Bitcoin can make money quickly.
Tell them that their way of thinking is wrong about Bitcoin if those people are your friends.
At least they can judge Bitcoin like your current assessment that says Bitcoin is a currency that is useful as a hedge that is worth investing in for the long term.

xSkylarx

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I like the way you compare Bitcoin to propeties in which they are both the same it is just Bitcoin is a digital one and also less expenses on maintaining it but you just need to also invest into its security like having a hardware wallet to make sure your assets is safe , same with the property that you need to have maintenance on it to make it good. Also with the value you cant really say that it wont lose value because of its volatility but proven from the history of it value really keeps increasing

SatoPrincess

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

The potential to make good gain out of an asset without losing its initial value proves the worth of the asset and this is exactly what bitcoin is as a good store of value .

1 bitcoin is 1 bitcoin. So I agree that initial value of bitcoin doesn’t change, but unlike stable coins the market price of bitcoin can fluctuate because bitcoin is a volatile asset. I do not particularly enjoy the banter of “bitcoin is better than gold “ or “bitcoin investments is better than Real Estate”. These are pointless arguments that do not affect the market and I see them as people just being overly passionate about bitcoin. In my opinion, the argument of which is better is just a matter of preference.

rat03gopoh

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Quote from: Y3shot on August 11, 2023, 03:27:01 PM

Bitcoin is a store of value, it can converted from one currency to another without losing any value.

Bitcoin value is unstable, you know that.
Historically the value of bitcoin has increased cyclically, but along the way it has fluctuated greatly and you run the risk of losing a few percent of its value when it "done" at an inopportune time.
I only agree that bitcoin is good for storing assets without the intervention of ownership status as long as it is done correctly. At this point, you should be less concerned with the value.

TravelMug

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Quote from: posi on August 12, 2023, 12:21:56 AM

I don't know what people define as a good store of value, but to me it's an asset that isn't volatile too much and doesn't depreciate over time. In my opinion, gold or silver is called a store of value. Bitcoin is just a highly volatile asset, it is more suitable for speculative use than a store of value.

Yes but what separates bitcoin to the rest like gold or silver or any other precious metal is that we have a bull run every 4 years. So people might think of sitting their wealth or least a percentage of it to bitcoin and then hold or used it as store of value as it will grow overtime.

Quote from: posi on August 12, 2023, 12:21:56 AM

Another thing, bitcoin is like any other asset, you will also have to pay transaction fees, and if you are a good citizen, you will also have to pay taxes on owning bitcoin. So there is no way you can own bitcoin without any other expenses attached.

It's just the transaction fees that is involved, not sure about the tax as it depends on which country to live it and how they treat bitcoin legally or not.

posi

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I don't know what people define as a good store of value, but to me it's an asset that isn't volatile too much and doesn't depreciate over time. In my opinion, gold or silver is called a store of value. Bitcoin is just a highly volatile asset, it is more suitable for speculative use than a store of value.

Another thing, bitcoin is like any other asset, you will also have to pay transaction fees, and if you are a good citizen, you will also have to pay taxes on owning bitcoin. So there is no way you can own bitcoin without any other expenses attached.

ranochigo

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Bitcoin is a speculative asset, not a good store of value. Generally, you consider stable assets as a good store of value, where there is little risk of fluctuation and loss of value even for a long term. Things like gold, platinum and basically most precious metals are good store of value. They neither decrease nor increase very much in the long term. Part of it is due to the wide acceptance of them as a stable commodity and their application in crucial consumer components.

Bitcoin, on the other hand is regularly subjected to scrutiny and regulations. It does not fit the criteria to be a good store of value.

Topic: Bitcoin as good store for value - page 6. (Read 901 times)