Topic: Bitcoin: "Maybe Is a Partial Store of Value" - page 4. (Read 673 times)
Yes it definitely is a store of value. Even if we consider fiat and other currencies even they are considered as a store of value then how can we say that bitcoin is not at all a store of value. It's primary function is a medium of exchange but can definitely also be used for store of value. But using it merely as a store of value will hamper it's growth. Which is the main problem people are concerned about.
With these statements it seems that he’s going to adopt it anytime soon. He has some points and we cannot reject that ideas coming from him, the real challenge in this community is to prove him that he’s wrong. I understand where he’s coming, he base the current situation on what he had learn from the past economic behaviour.
Is it me or he starts to understand that his old propaganda just makes him look stupid?
Is it me or he starts believing in Bitcoin?
Last time I've followed one minute of what he was saying, everything around him was shitcoin. Now it starts, with small steps, become a store of value?
It's still far, but let's be nice and see that there's a bit of progress in it
Is it me or he starts believing in Bitcoin?
Last time I've followed one minute of what he was saying, everything around him was shitcoin. Now it starts, with small steps, become a store of value?
It's still far, but let's be nice and see that there's a bit of progress in it
Bitcoin existed as a store of value, and further when it gained more and more value it got used as a transition medium. From my understanding it is completely a store of value. Quoting the scalability, and lack of mainstream usage it was mentioned as partial store of value. Everything won't get such a level of growth, it takes time. On such a thought process I believe in future everyone will realize it a complete store of value.
Quote
Economist Nouriel Roubini — also known as “Dr. Doom” for his prediction of the 2007-2008 financial crisis and a notorious critic of cryptocurrencies — has conceded that Bitcoin (BTC) is “a partial store of value.” Roubini made the concession during a panel together with a host of high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays — during the CC Forum 2019 conference in London on Oct. 16.
As Tone Vays suggested in a tweet on Oct. 17, Roubini’s admission arguably represents “baby steps” forward in his stance towards cryptocurrencies — notwithstanding the fact that Roubini swiftly followed his comment with a suite of criticisms:
“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable [...] in spite of its rally earlier this year, it’s lost 60% in value since it’s peak, so I don’t see it going anywhere frankly.”
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This is a little bit funny. While admitting that Bitcoin can be a store of value -- at least partially -- Mr Roubini remains adamant on his old position against Bitcoin, in other words nothing has changed despite his admission which can just be influenced by people he was with in that conference. Well, as they are saying, there will always be two sides to the coin and in any human innovations there will be people whose role is to warn of possible impeding doom if we continue the change we are into. I have a great respect for this man because he is actually making some sense in many areas and I think we should also give space for people like him as their inputs can still be useful. However, don't get me wrong, it does not mean we have to follow what he is saying.
So is it really partial or full?
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