Topic: Bitcoin is neither a currency nor a store of value ! - page 6. (Read 1837 times)
Lol, the fudster spelled god instead of gold.
Damn, all that FUD just to bring Bitcoin down. With China and the bankers FUD atm its working pretty well sadly.
It's volatile because it's in the early stage. In a typical country you have like 50 million people using fiat currency every day. Compare that to the current state of BTC.
As for the store of value, it's a great one. If you choose any year between 2009 and now and imagine you have decided to store your money in BTC, you could pick that wallet now and see that not only your money is still there, but you've made a lot during that time. You've even gained some free BCC!
As for the store of value, it's a great one. If you choose any year between 2009 and now and imagine you have decided to store your money in BTC, you could pick that wallet now and see that not only your money is still there, but you've made a lot during that time. You've even gained some free BCC!
Bitcoin is not a currency but a crypto currency, and I don't know how you can claim nobody will trade as its volatile, rather for this many people likes to trade with BTC. And people do use it as a currency and transact, not holds as an asset.
And about store of value, yes I know its not stable as you mentioned some physical assets like gold, silver, but its been similar, just thats its volatile.
But still you are wrong, if Bitcoin doesn't have store of value, you are simply been ignorant, if I still exempt the statistics.
And about store of value, yes I know its not stable as you mentioned some physical assets like gold, silver, but its been similar, just thats its volatile.
But still you are wrong, if Bitcoin doesn't have store of value, you are simply been ignorant, if I still exempt the statistics.
I don't agree with you but I guess the attitude it's about point of view and experiences. Everyone has the right to its own opinion. I use Bitcoins as a currency, I pay for goods and services with it so I consider it to be a currency. And if Bitcoin is a scamw, than a very big mumber of people around the world is very stupid and naive but I don't think anyone of them would agree with that statement.
Well, you are wrong, because anything that can be exchanged for goods or services is a currency. This could be sea shells, as it has been in the past.
The sales on my website tell a different story, as people are indeed using BTC as a currency, and purchasing tangible goods with it.
As in regard to a store of value, this is also incorrect, as it has certainty been a store of value for many. I have been around on these forums, since before the times of $1 BTC. I think to these people, it has been an amazing store of value.
Yes, I would rather agree with you, because it is senseless to say btc is a scam nowadays. It definitely is a currency, even though a very volatile one. We also have other coins which have some improvements, but who knows which problems they would experience if they were used to so many people. As for the store of value, it is even stated on wikipedia that cryptocurrencies count on this matter. The sales on my website tell a different story, as people are indeed using BTC as a currency, and purchasing tangible goods with it.
As in regard to a store of value, this is also incorrect, as it has certainty been a store of value for many. I have been around on these forums, since before the times of $1 BTC. I think to these people, it has been an amazing store of value.
It is currency, I can pay my bills using it if I want to, I just prefer to convert is first. Yes, because of that volatility. Also why it can't be considered a surely secure store of value, at least if you want the value to stay the same. Still, even with fluctuations, it still does go up.
It'll only really stabilize once it's all mined out. And do you even know what a Ponzi is?
It'll only really stabilize once it's all mined out. And do you even know what a Ponzi is?
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
It's obvious that Bitcoin is not a great store of value right now due how volatile it is, and it's even more obvious that it is not a great currency due how (also) volatile it is, but notice that the volatility is due the marketcap being tiny for its potential.
Once BTC is worth +1 trillion marketcap, it's going to be way harder for FUDsters to cause market crashes. So if you have some perspective, you must see the current volatility as a sign of how it's still very early on in the game and long temr holders will get rich.
Similarly, once we get lightning network, we will have instant cheap transactions under trillions of a marketcap to make it less volatile: it will also be the ideal currency.
Miners selling to cover mining resources is not enough selling pressure to not allow it to grow. Also im sure in the future miners will be able to pay electricity costs in Bitcoin directly.
Well, you are wrong, because anything that can be exchanged for goods or services is a currency. This could be sea shells, as it has been in the past.
The sales on my website tell a different story, as people are indeed using BTC as a currency, and purchasing tangible goods with it.
As in regard to a store of value, this is also incorrect, as it has certainty been a store of value for many. I have been around on these forums, since before the times of $1 BTC. I think to these people, it has been an amazing store of value.
The sales on my website tell a different story, as people are indeed using BTC as a currency, and purchasing tangible goods with it.
As in regard to a store of value, this is also incorrect, as it has certainty been a store of value for many. I have been around on these forums, since before the times of $1 BTC. I think to these people, it has been an amazing store of value.
You registered just to say that?
It is obvious to me that somones are trying hard to bring prices down and buy a whole lot of btc for themselves. Must be the rich who missed their chance to take the ride earlier.
Makes me buy even more btc myself. If the rich do it, it must pay off eventually.
It is obvious to me that somones are trying hard to bring prices down and buy a whole lot of btc for themselves. Must be the rich who missed their chance to take the ride earlier.
Makes me buy even more btc myself. If the rich do it, it must pay off eventually.
Bitcoin is not a currency.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.
Bitcoin is not a store of value.
Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.
So what is Bitcoin?
It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.
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