Topic: BITCOIN IS NOT A STORE OF VALUE - page 5. (Read 958 times)

This forum exists for more than a decade and there are still people, who keep comparing a programming code with precious metals.
Yes, there's no denying that gold and silver are being used as raw materials in some industries. And so what?
I don't see people using gold and silver coins to buy and sell goods, just like in antiquity/middle ages. The times have changed.
Copper, iron and bronze are also being used as raw materials. Does that make them store of value?
Bitcoin can't be used as a raw material. Bitcoin doesn't have the same utility as gold and silver. And so what?
Fiat money are a questionable store of value, but the majority of the people think that they are a store of value.
Can fiat money be used as a raw material? Do you think that they have an actual utility, other than being medium of exchange?

What a load of rubbish.

'A store of value is essentially an asset, commodity, or currency that can be saved, retrieved, and exchanged in the future without deteriorating in value'

https://www.investopedia.com/terms/s/storeofvalue.asp

Bitcoin is a store of value. We can discuss whether it is its main function or not. Whether it is more a medium of exchange than a store of value, but don't make a fool of yourself by insisting on this nonsense.


LMAO. Keep dreaming.

BTC is shit

BTC will switch to POS coming soon. Then it becomes double shit

Agree, because there is no comparison. 6,000+ years vs. a 14 yr old man made invention. Keeping in mind that EVERYTHING that man has ever created was built with underlying flaws, bitcoin is no exception.

People here like to try to call a crypto-CURRENCY a store of value, just correcting their mistakes.

I don't know what do you mean by yours words. But I think there shouldn't be any compare on gold , silver vs Bitcoin .Because they are individually valuable gold and silver in their separate places, they have been important assets for ages era's and I think they will not depreciate until the end of the world, but will increase in value. On the other hand Bitcoin was invented digitally just like fiat currency, so I think comparing Bitcoin to gold silver is completely foolish .

Gold is replaceable... With what exactly? 6000+ years of monetary history disagrees with you, and most other people posting here today.
All due respect, I personally prefer to follow the world banks and governments since they always manage to retain control (throughout history), and no offense to you, they are alot more organized and quite frankly, more intelligent than the herd mentality that you, and so many other people share today.

Gold is only formed when a star explodes, lets see you replicate that, or explain how? Tricked? Artificially scarce? I really don't care if you buy gold or bitcoin, however banks and governments prefer if you didn't buy gold... They would like to buy it instead, as they have all (ALL WORLD BANKS AND GOVERNMENTS) have been purchasing more reserves in record numbers than ever before. Maybe they know something that you don't? You think you can somehow become more powerful than a world government using a crypto-currency? Show me...

Value is relative, gold has MAINTAINED it's purchasing power, it offers stability in ANY AND ALL economic situations, that's a fact that the world governments and banks seem to be alot more privy to than you. What an ounce of gold purchased 2000 years ago it is still able to purchase the same today in terms of goods and services. If it could be replaced by something else, then why hasn't it?

Let's talk about artificial since you mentioned it... JP Morgan as well as numerous other banks have been artificially suppressing the price with paper derivatives. They have been brought up multiple times on price manipulation. They are keeping the physical price artificially low so they can buy up as much physical as possible. Meanwhile your government auctions off bitcoin... You think they are dumb, or you are somehow smarter than them? How come they don't see it as valuable as you and alot of other sheep today? I can't wait to see the look on your face when your left holding empty space...

Honestly, I would rather follow the people that manipulated you into thinking crypto currency is only used by criminals and can't be tracked, lets take a look at all the AML/KYC laws and then tell me your going to have economic freedom... First touted as a currency that the government can't track or tax, the taxes are coming due, make sure you file bro. Can't track my gold and silver though.

Then just leave it at BTC is a digital currency that fluctuates extremely verses Government Based FIAT money.

Quit the store of value nonsense,
so people don't put their kid's college fund in BTC , and then 1 month before the kid starts college ,
have to tell the kid they have to wait 5-10 years for BTC price to recover.  

BTC is a trip to Vegas, sometimes you win, sometimes you go home with nothing.
People that only hold BTC never prosper, they just die and their coins get lost.

We don't live in an alternate universe, we live in this one where gold and silver exists and will continue to exist and be used to manufacture electronics and we will continue using those electronics to create new innovations such as bitcoin.
In other words your arguments are moot.

This is why bitcoin was invented as a currency not a store of value. It can and is being used as a medium of exchange and only to some extent it can act as a store of value when you look at it from a long term perspective and ignore the short term volatility.

I completely agree with your prospective, Bitcoin is not a commodity, it's an ever evolving innovation. There is not limit to application of innovation. Infact applicability is the value of Bitcoin. Looking at the current and future prospective, I think value of Bitcoin is only going to shoot up..

Agree.  What started out as a medium of exchange also added a store of value under its belt, due to the belief of the maximalists and old coiners who believe beyond the medium of exchange and figured they had something very special on their hands.  This belief wound up spreading like wildfire.  At one time 10,000 Bitcoins bought you a pizza, now even in a down time would be close to 200 million.

Is someone trying to trick you into thinking gold is a store of value?

Someone mined that gold and the miner of it or its designer ate food.

Gold is replaceable, most things are replaceable. You can't say something an store value when it's value has dropped in real terms since 2012 - we're around 2012 prices minus inflation. Gold can be replaced with copper and silver fairly easily when it needs to be. Platinum also makes for a good alternative to gold (along with many other metals).

Don't be tricked into buying something that's over inflated and artificially physically scarce. Find something like a business to actually invest in instead if you want to protect your wealth - most assets are risky buys though so remember to diversify where reasonable.

Electronics buy and large all require silver and gold for their electrical conductivity properties that other metals cannot compete with when it comes to size and efficiency, if you choose lets say copper for example to replace silver, your electronic equipment would be roughly 11% larger and heavier and 7% less energy efficient. Lets try replacing mining equipment with copper instead of silver, and tell me how much more space would be required, and how much less efficient the equipment would be. The same basic principle applies across the board for all electronics, as you mentioned there won't be a perfect outcome. However, supply and demand dictate that consumers the world over require efficiency.

Case and point, people demand compact, efficient devices. It's general supply and demand. Sure bitcoin is scarce relative to other cryptocurrencies to some degree, but what happens to the value if the infrastructure becomes highly inefficient (which it is if you look at how much energy it consumes in order to compute each block today). It was a great idea, but physically speaking you cannot hold on to it. Take into account power or internet outages that are ongoing (which is the case in alot of countries suffering from economic poverty), what's it worth at that point when you cannot send or receive payments? What's the solution? Additionally, what if consumer electronic devices are too expensive for everyday people to afford, how will they transact?

Store of value can only be experienced through long term value stability. Bitcoin is unpredictable, and volatile. If and when it becomes stable (price wise), then and only then does it earn the right to be declared "store of value".

What you're trying to convey. TV, computers and phones were the store of value. There is a difference between store of value and the devices. Innovation doesn't have limits, if gold and silver weren't found we could've made the same innovative devices with something else for sure. Maybe we don't get the perfect outcome as gold and silver, but there'll be a solution for it.

The rare availability makes it more valuable, with bitcoin the limited supply makes it more valueable. Being a store of value is simple, as bitcoin carries a value it is considered as store of value. Even if the credit goes to gold and silver it isn't a big thing.

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.