Bitcoin is a reliable store of value - what’s a reliable store of value for you? - page 2.

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Quote from: samcrypto on September 11, 2022, 07:24:14 PM

Quote from: GreatArkansas on September 11, 2022, 07:27:42 AM

Quote from: el kaka22 on September 10, 2022, 01:55:22 AM

As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now.
(....)

This does not define how reliable store value is. It does not make sense with this kind of mindset. It seems you are just investing which investmen comes with risk and profits over the time.
So, store of value for me is something you not depreciating the value of it over the time regardless of other effects or financial system catastrophic.

Store of value which means appreciate over time and with Bitcoin, there’s no assurance for that and beside that is not the real purpose of Bitcoin before. For me, if there’s too much volatility I can’t consider that as a good store of value, maybe it can appreciate in price but there’s still a huge risk that it can go deeper so be careful on storing too much of it. Gold might still be the best option to many, i can agree on that.

Whether people believe that bitcoin is a store of value or not what matters is that people at least make the effort to put their money in an asset which can keep their value over the long term, whether it is bitcoin, gold, silver or real state it doesn't matter, what matters is that people protect themselves.

And this is more important now than ever because as we can see the inflation is very high and despite the efforts of the governments to try to make it to go down they have failed to do so, and who knows if they will be successful, so for the time being what matters is to protect ourselves in the case things get even more difficult from now on.

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Quote from: samcrypto on September 11, 2022, 07:24:14 PM

Quote from: GreatArkansas on September 11, 2022, 07:27:42 AM

Quote from: el kaka22 on September 10, 2022, 01:55:22 AM

As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now.
(....)

This does not define how reliable store value is. It does not make sense with this kind of mindset. It seems you are just investing which investmen comes with risk and profits over the time.
So, store of value for me is something you not depreciating the value of it over the time regardless of other effects or financial system catastrophic.

Store of value which means appreciate over time and with Bitcoin, there’s no assurance for that and beside that is not the real purpose of Bitcoin before. For me, if there’s too much volatility I can’t consider that as a good store of value, maybe it can appreciate in price but there’s still a huge risk that it can go deeper so be careful on storing too much of it. Gold might still be the best option to many, i can agree on that.

I don't think so. Store of value doesn't mean it should appreciate over time. Quite literally, it simply means it is something that stores the value. So if you want to avoid losing your value, then store it in something. It's different if you want to make a profit. That's investment. It is enough for something, even though it does not appreciate over time, to be a store of value for as long as it also does not depreciate over time. And store of value more or less implies long periods of time. If something keeps the value for a short time only, it is not a store of value.

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Quote from: GreatArkansas on September 11, 2022, 07:27:42 AM

Quote from: el kaka22 on September 10, 2022, 01:55:22 AM

As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now.
(....)

This does not define how reliable store value is. It does not make sense with this kind of mindset. It seems you are just investing which investmen comes with risk and profits over the time.
So, store of value for me is something you not depreciating the value of it over the time regardless of other effects or financial system catastrophic.

Store of value which means appreciate over time and with Bitcoin, there’s no assurance for that and beside that is not the real purpose of Bitcoin before. For me, if there’s too much volatility I can’t consider that as a good store of value, maybe it can appreciate in price but there’s still a huge risk that it can go deeper so be careful on storing too much of it. Gold might still be the best option to many, i can agree on that.

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Quote from: GreatArkansas on September 11, 2022, 07:27:42 AM

Quote from: el kaka22 on September 10, 2022, 01:55:22 AM

As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now.
(....)

This does not define how reliable store value is. It does not make sense with this kind of mindset. It seems you are just investing which investmen comes with risk and profits over the time.
So, store of value for me is something you not depreciating the value of it over the time regardless of other effects or financial system catastrophic.

Same here, that is a reliable store of value for me. With that, I believe Bitcoin at its current condition isn't a good or reliable store of value. Don't misunderstand, I also see Bitcoin as a store of value but I think its high volatility makes it unreliable as a store of value. This is another reason why most financial institutions don't consider Bitcoin as money. Because of its poor performance when it comes to the store of value.

GreatArkansas

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Quote from: el kaka22 on September 10, 2022, 01:55:22 AM

As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now.
(....)

This does not define how reliable store value is. It does not make sense with this kind of mindset. It seems you are just investing which investmen comes with risk and profits over the time.
So, store of value for me is something you not depreciating the value of it over the time regardless of other effects or financial system catastrophic.

wagmi

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Quote from: Fundamentals Of on September 08, 2022, 10:12:50 PM

In many aspects, Bitcoin is better than gold.

1. Gold is scarce, Bitcoin has a fixed amount.
2. Gold is hard to store, Bitcoin is stored in the blockchain, like in thin air.
3. It is hard to cross international borders carrying gold. With Bitcoin, nobody knows you've got some.
4. Gold could easily be seized. With Bitcoin, it could die with you.
5. With gold, there is the possibility that miners could go out of space and harvest all they want. With Bitcoin, there will only be 21 million even after a thousand years.

You are very right here, Bitcoin is technically advanced compared to Gold because Gold is just naturally existing.

But Bitcoin was customized by Satoshi, so he could look at Gold and improve Bitcoin's properties.
He looked at Gold and made Bitcoin more scarce,
He made Bitcoin more fungible and easier to send
He created an robust network of PoW

Bitcoin is advanced Gold, one could say.

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I wouldn't say reliable, at least, not for the medium term even (and for me that's 5 years or so).

I'm a Bitcoin guy, DCAing for as long as I remember, and have had to liquidate significant sums due to emergencies and while it's worked out for me overall, I can't imagine if my journey had started say in 2017 and then then I needed to rely on it over the next 2 years. Would have been a huge loss.

And if you can't rely on something to retain (not appreciate) value in a year or two, I don't think you can call it reliable, can you?

P.S. I do think it's a great store of value long term, always up eventually!

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Quote from: Don Pedro Dinero on September 10, 2022, 03:49:18 AM

Being a store of value is not a subjective matter. There is an objective definition of what it is:

'A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.

The most common store of value in modern times has been money, currency, or a commodity like a precious metal or financial capital. The point of any store of value is risk management due to a stable demand for the underlying asset.'

Bitcoin is a good store of value, or we could say the best at present, and it does not look like it is going to change this in the future. What happens is that in the bear market that we are in, there are people questioning it,but if bitcoin was not a store of value due to the behaviour of the price this year, gold would not be either. We have to look at the long term when we talk about this.

Bitcoin is still very new compared to gold or currency and we cannot be sure what the future of bitcoin will be. We are bitcoin investors so it is completely understandable to believe in bitcoin, but to be fair, compared to gold and other assets, bitcoin is still riskier.
Bitcoin can still be a store of value but to say it is the best is inaccurate. To be considered a secure store of value, it must be stable, low-volatility, and legally recognized worldwide.

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Being a store of value is not a subjective matter. There is an objective definition of what it is:

'A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.

The most common store of value in modern times has been money, currency, or a commodity like a precious metal or financial capital. The point of any store of value is risk management due to a stable demand for the underlying asset.'

Bitcoin is a good store of value, or we could say the best at present, and it does not look like it is going to change this in the future. What happens is that in the bear market that we are in, there are people questioning it,but if bitcoin was not a store of value due to the behaviour of the price this year, gold would not be either. We have to look at the long term when we talk about this.

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As long as we have "diamond hands" as they call it these days, then we can make a profit from bitcoin. Bear market is not a reason to sell your coins, if anything it is a reason to buy more bitcoins right now. Haven't we said "buy low, sell high" enough times already? You buy as many as you can during bear run, and you sell as much as you can during bull run and keep repeating that and eventually you will have a lot of money.

I am the type of person who buys at bear and buys at bull, I like to have 1 bitcoin before I die, but I would understand selling at the top in order to buy even more when it goes down, I just don't believe in myself to know when it is at the top.

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Quote from: Jating on September 08, 2022, 04:44:51 PM

Quote from: pieppiep on September 08, 2022, 12:15:03 PM

I still want to keep my money in bitcoins and even though the price will still be as it is now, up and down, I'm not afraid because it's just a part of bitcoin that will probably always be there until later. If you are afraid to save money, maybe you need gold as a place whose price will not change much compared to other types of investments.

As long as you are not going to sell it in a bear market or at least a time that you will never profit then your money is good with it as store of value.

Hopefully, I can have strong hand to still hold my coins, especially bitcoin. And yes, the bear market still appear on the market and that can make us to become panic. But with experienced we had, we do not have to feel panic instead calm down for a while.

Quote from: Jating on September 08, 2022, 04:44:51 PM

Quote from: pieppiep on September 08, 2022, 12:15:03 PM

Bitcoin is a unique store of value because its price can go down and up, and we never know when that will happen. Apart from that, the rarity of bitcoin is one thing that makes it unique so I think bitcoin is a store of value as well as gold.

Again, still boils down on how you are going to put your money on it to become a store of value. So it's really up to us per individual on how we are going to make it our own store of value. Because if we look at the price it is very volatile, hence could not be classified per se at SoV.

To have bitcoin as a store of value is an option for people, especially if they want to earn big profits in the future. But if they still have doubts about bitcoin, they shouldn't try to invest in it because it will make them worry about seeing the price fluctuate.

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Quote from: Fundamentals Of on September 08, 2022, 10:12:50 PM

In many aspects, Bitcoin is better than gold.

1. Gold is scarce, Bitcoin has a fixed amount.
2. Gold is hard to store, Bitcoin is stored in the blockchain, like in thin air.
3. It is hard to cross international borders carrying gold. With Bitcoin, nobody knows you've got some.
4. Gold could easily be seized. With Bitcoin, it could die with you.
5. With gold, there is the possibility that miners could go out of space and harvest all they want. With Bitcoin, there will only be 21 million even after a thousand years.

So we could probably say that Bitcoin is a better and more reliable store of value than gold.

Have you considered the risk in the internet space?, The internet is considered a dangerous place that is always lurking and attacking us even when we don't know we are being attacked. Maybe you have a hardware wallet that is secure enough to store bitcoins but that doesn't mean you will be 100% safe holding bitcoin. Not to mention the accidents that cause you to lose your private key due to natural disasters, fires... everyday accidents can still cause you to lose your private key. Can't say which is more secure, it all depends on how we store them.

Bitcoin is a very volatile asset, gold is much more stable so I don't think bitcoin is a better store of value than gold. Bitcoin is a better investment than gold.

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In many aspects, Bitcoin is better than gold.

1. Gold is scarce, Bitcoin has a fixed amount.
2. Gold is hard to store, Bitcoin is stored in the blockchain, like in thin air.
3. It is hard to cross international borders carrying gold. With Bitcoin, nobody knows you've got some.
4. Gold could easily be seized. With Bitcoin, it could die with you.
5. With gold, there is the possibility that miners could go out of space and harvest all they want. With Bitcoin, there will only be 21 million even after a thousand years.

So we could probably say that Bitcoin is a better and more reliable store of value than gold.

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I guess we might be wrong as we might be comparing it to gold as store of value? Gold has been with us for centuries and I would say has been tested like in WWII wherein it was being used by countries for reconstruction. So it could be a good store of value plus it appreciates overtime. While compare it to bitcoin which is very young and still in it's infancy and the best case for it is the pandemic. But then again, it's very volatile so it won't fall on the definition of store of value, but we can say that it is value is derived from being durable and scarce.

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Quote from: OgNasty on September 07, 2022, 07:02:16 PM

I don’t consider Bitcoin to be a store of value. It’s a highly speculative asset.

Bitcoin is a store of value but it has massive upside potential. It is still risky but we need to have an overall view at it.
Despite being very volatile, Bitcoin has resulted in massive gains and is likely to do so again, making it a good store of value.

Quote from: Jawhead999 on September 08, 2022, 07:30:32 AM

Quote from: OgNasty on September 07, 2022, 07:02:16 PM

I don’t consider Bitcoin to be a store of value. It’s a highly speculative asset. When I think store of value, I think things with a very long history of increasing value. That leaves the S&P 500 as the best place to store money, followed by owning your home, and then things like artwork or gold jewelry. Bitcoin is a bet on a new emerging asset class.

I think if Bitcoin already proven survived for many decades and everyone trust it, then Bitcoin can be said as store of value.

I agree, Bitcoin is proven for a long time and will continue to do so. It is just starting because at some point, Bitcoin has to be inventend and is still new.
But it is reliable and we are just extremely early.

Quote from: Jawhead999 on September 08, 2022, 07:30:32 AM

Bitcoin would resistant against government centralization and dictatorship, but we don't know how much Bitcoin will worth since the adoption will highly decreased.

Exactly, Bitcoin is also very useful against dictators like Putin.

Quote from: Jating on September 08, 2022, 04:44:51 PM

Quote from: pieppiep on September 08, 2022, 12:15:03 PM

I still want to keep my money in bitcoins and even though the price will still be as it is now, up and down, I'm not afraid because it's just a part of bitcoin that will probably always be there until later. If you are afraid to save money, maybe you need gold as a place whose price will not change much compared to other types of investments.

As long as you are not going to sell it in a bear market or at least a time that you will never profit then your money is good with it as store of value.

You are right, we should not sell Bitcoin in a bear market because it would mean selling at a loss.
Buy high, sell low is not a good option.

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Quote from: pieppiep on September 08, 2022, 12:15:03 PM

I still want to keep my money in bitcoins and even though the price will still be as it is now, up and down, I'm not afraid because it's just a part of bitcoin that will probably always be there until later. If you are afraid to save money, maybe you need gold as a place whose price will not change much compared to other types of investments.

As long as you are not going to sell it in a bear market or at least a time that you will never profit then your money is good with it as store of value.

Quote from: pieppiep on September 08, 2022, 12:15:03 PM

Bitcoin is a unique store of value because its price can go down and up, and we never know when that will happen. Apart from that, the rarity of bitcoin is one thing that makes it unique so I think bitcoin is a store of value as well as gold.

Again, still boils down on how you are going to put your money on it to become a store of value. So it's really up to us per individual on how we are going to make it our own store of value. Because if we look at the price it is very volatile, hence could not be classified per se at SoV.

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Quote from: Jawhead999 on September 08, 2022, 07:30:32 AM

Quote from: OgNasty on September 07, 2022, 07:02:16 PM

I don’t consider Bitcoin to be a store of value. It’s a highly speculative asset. When I think store of value, I think things with a very long history of increasing value. That leaves the S&P 500 as the best place to store money, followed by owning your home, and then things like artwork or gold jewelry. Bitcoin is a bet on a new emerging asset class.

I think if Bitcoin already proven survived for many decades and everyone trust it, then Bitcoin can be said as store of value. Bitcoin would resistant against government centralization and dictatorship, but we don't know how much Bitcoin will worth since the adoption will highly decreased.

Fiat isn't a store of value too since it's only created by paper, but since everyone are trusting fiat and believe the value based on the number that written on the paper.

So we need to wait for that only to see if btc is really a store of value or not? I think that's boring but as of now, many people already trust bitcoin and can say that it's one of the store of value because of its limited supply and as we can see it grew a lot from its over 13 years of existence.

Btc adoption will not decrease but it can only increase since many people didn't knew btc yet. We don't know the exact value of btc but once massive adoption takes place then for sure its value can increase over 100k. Fiat money isn't a store of value not because it's only a paper but because its value depreciates over time due to its unlimited supply.

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I still want to keep my money in bitcoins and even though the price will still be as it is now, up and down, I'm not afraid because it's just a part of bitcoin that will probably always be there until later. If you are afraid to save money, maybe you need gold as a place whose price will not change much compared to other types of investments.

Bitcoin is a unique store of value because its price can go down and up, and we never know when that will happen. Apart from that, the rarity of bitcoin is one thing that makes it unique so I think bitcoin is a store of value as well as gold.

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Quote from: OgNasty on September 07, 2022, 07:02:16 PM

I don’t consider Bitcoin to be a store of value. It’s a highly speculative asset. When I think store of value, I think things with a very long history of increasing value. That leaves the S&P 500 as the best place to store money, followed by owning your home, and then things like artwork or gold jewelry. Bitcoin is a bet on a new emerging asset class.

I think if Bitcoin already proven survived for many decades and everyone trust it, then Bitcoin can be said as store of value. Bitcoin would resistant against government centralization and dictatorship, but we don't know how much Bitcoin will worth since the adoption will highly decreased.

Fiat isn't a store of value too since it's only created by paper, but since everyone are trusting fiat and believe the value based on the number that written on the paper.

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I honestly think that gold is still one of the good stores of value in the market and if I have money to have it, I'll definitely have it. But since bitcoin is existing, it's not my priority and my attention is on bitcoin. For those heavy investors of gold, they'll argue that it's the best store of value, and whilst for us, it is bitcoin that's the best store of value. Don't forget about the other assets that can also be of good store value and is good to appreciate as time passes by like real estate. If I have the chance to have them all, I'll do it.

Topic: Bitcoin is a reliable store of value - what’s a reliable store of value for you? - page 2. (Read 461 times)