Can we agree BTC is not a store of value?

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Quote from: BITCOIN4X on July 23, 2020, 10:38:28 AM

Quote from: kolbalish on July 23, 2020, 07:41:26 AM

Nothing in the world is reliable, just as BTC is not reliable.

But at least now we can still rely on bitcoin as a cryptocurrency that has many benefit.

Crypto has many benefits from the start already. Its just that many users and investors are not seeing the true benefit and the true reason why Bitcoin has been made in the first place.

I agree that Bitcoin isn't reliable and nothing is reliable. Bitcoin has many benefits in my part. From paying bills to buy some stuffs online. Although I'm not using Bitcoin directly since there are no merchants here that are accepting it but the fact that it came from BTC and just converted is a proof that it has a benefit for us users of it

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Crypto is not a religion but i like it

BTC is a savings tool for those who a) have extra money b) who believe in "to the moon"
For others (for me at least) it is the same means of speculation and trading for almost instant winnings. I have not looked at btc as a gold token for a long time - and I am not sure that we will see such heights again...

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Quote from: thirdprize on March 16, 2020, 07:21:47 AM

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.

Unfortunately, bitcoin at the moment is nothing but a store of value.
You can buy something with it and it is adopted by some businesses, but we all understand that apart from lightning network it is a high fee slow transaction coin.
There are many others more usable coins and tokens out there that deserve attention

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Quote from: Janation on July 24, 2020, 07:02:12 AM

Quote from: BITCOIN4X on July 23, 2020, 10:38:28 AM

Quote from: kolbalish on July 23, 2020, 07:41:26 AM

Nothing in the world is reliable, just as BTC is not reliable.

But at least now we can still rely on bitcoin as a cryptocurrency that has many benefit.

Living in a country that can't really use Bitcoin, still, I can agree with this.

The benefit we get from Bitcoin is that we can have some profit in a long period of time, we can use to pay bills thruogh exchanges taking advantage of its fast and free transactions and very convinient. I know that we can't still directly use Bitcoin but usually it is a speculative asset and not a store of value.

Even if you can't sell it in your country for the moment, you can sell that in other country through p2p trading, selling bitcoin is not really hard since we don't need a 3rd party to process our transaction, that's the beauty of decentralized network. We can use it both as payment system and investment.

Janation

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Quote from: BITCOIN4X on July 23, 2020, 10:38:28 AM

Quote from: kolbalish on July 23, 2020, 07:41:26 AM

Nothing in the world is reliable, just as BTC is not reliable.

But at least now we can still rely on bitcoin as a cryptocurrency that has many benefit.

Living in a country that can't really use Bitcoin, still, I can agree with this.

The benefit we get from Bitcoin is that we can have some profit in a long period of time, we can use to pay bills thruogh exchanges taking advantage of its fast and free transactions and very convinient. I know that we can't still directly use Bitcoin but usually it is a speculative asset and not a store of value.

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Maybe it's too simple of an answer, but it just continues to be too unstable. Therefore that you can say Btc is not store of value.
But today, most major global currencies are fiat and many governments and societies have found that fiat currency is the most durable and least likely to be susceptible to deterioration or loss of value over time
Currency is usable if it is a store of value, or, put differently, if it can reliably be counted on to maintain its relative value over time and without depreciating.

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Quote from: kolbalish on July 23, 2020, 07:41:26 AM

Nothing in the world is reliable, just as BTC is not reliable.
It can't be called a store of value because it rotates. It's value sometimes upswings and sometimes lowerings. It can't be said that the BTC store could be very worthwhile in the future. Because it is skeptical.

People can think whatever they want but I will still use it as a currency and not any value. People think that they could put in 10 thousand dollars into bitcoin and get roughly 1 bitcoin and change, they could keep it there, if inflation happens their bitcoin will go up and in theory they will not lose any money, sure they are "earning" some but at the same time life gets more expensive so they are keeping their "value" which is the idea of store of value.

I do not see bitcoin like that, I see it as a thing that you can spend and earn, just like dollars, just like euros, I see bitcoin as a currency. I will work, earn some, I will then go out and spend it, that is what bitcoin is for me. So to speak, I agree that it is not a store of value, not because it can't be but because I do not use it that way at all.

BITCOIN4X

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Quote from: kolbalish on July 23, 2020, 07:41:26 AM

Nothing in the world is reliable, just as BTC is not reliable.

But at least now we can still rely on bitcoin as a cryptocurrency that has many benefit.

Quote from: kolbalish on July 23, 2020, 07:41:26 AM

It can't be called a store of value because it rotates.

Bitcoin or other cryptocurrency of course can never be used as a safe place to store value. Change in price at any time will never be suitable for those who do not want to take a big risk on the value of money. It is also not recommended to use bitcoin as a value storage asset and if someone does, the risk must be accepted.

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Quote from: thirdprize on March 16, 2020, 07:21:47 AM

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.

$ 3k is unlikely to happen this year. Bitcoin is still on the rise because the halving has taken place and maybe in the coming days it will pump. The level of pump will still depend on the general economy, if the disease is still raging in many large countries, then it is likely that bitcoin will only fluctuate around $ 8k - $ 10k this year. I don't think it will plummet once more.

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Nothing in the world is reliable, just as BTC is not reliable.
It can't be called a store of value because it rotates. It's value sometimes upswings and sometimes lowerings. It can't be said that the BTC store could be very worthwhile in the future. Because it is skeptical.

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Quote from: Text on July 15, 2020, 09:04:18 AM

Quote from: Questat on July 15, 2020, 08:48:03 AM

BTC is volatile but it's not depreciating, because when we say it's depreciating it will not be valuable again, that's not the nature of bitcoin, so I don't agree with the way you describe bitcoin.

it could be a no or a yes, it doesn't matter, what matters is what we believe as everyone of us who are into crypto and investing in bitcoin might not have the same answer or belief.

Thanks for hitting me. I seem to be getting what the store of value really means. It is not true that BTC does not belong as a store of value because it is not depreciated. Is depreciated the amount that is gradually decreasing that can no longer return to the previous price or increase such as computers, vehicles, tools and etc.? So it just depends on a user whether he will consider BTC as a store of value if its price rises or falls.

That's correct, you got it right now, they depreciate due to the wear and tear resulting to long time usage, bitcoin though considers by some as properly, it's not a physical proper that depreciates, in fact its value is appreciate if you look at the general point of view, its just that it's volatile so some would easily judge that this coin is depreciating because they are not looking at its value from the start.

When we say vehicle depreciation, you purchase it at $10,000, in 10 years, its market value could drop to $5,000 or even lower.

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Quote from: thirdprize on March 16, 2020, 07:21:47 AM

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.

You just made this thread because of conona virus effect and now you wanted us to believe that it would fall to 3k?
But sorry it didn't happen because recovery follows right away and the price comes back to 9-10k again.

Quote from: Alert31 on July 09, 2020, 12:32:53 PM

Bitcoin can't be a store of value because it is volatile . It is just good as investment. Now that there is a pandemic ,i think nothing could be possible as store of value because everything is going down drastically cause by covid pandemic.

lol we had already passed that point,Covid now seems nothing to effect the market look around,check the prices.

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Quote from: thirdprize on March 16, 2020, 07:21:47 AM

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value. It has been a few years since $20K and even now, each peak is smaller than the previous peak. Probably be $3K by the end of the week.

For me Bitcoin is not a store of value but is it an investment because it was volatile.Although this time of pandemic all are affected and i can say that there is no store of value at this moment. Anyway ,maybe on other people it could be a store of value because we have different perspective about it and i think there is no problem if other people treat it as store of value and others are not.

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Quote from: Text on July 15, 2020, 09:04:18 AM

Quote from: Questat on July 15, 2020, 08:48:03 AM

BTC is volatile but it's not depreciating, because when we say it's depreciating it will not be valuable again, that's not the nature of bitcoin, so I don't agree with the way you describe bitcoin.

it could be a no or a yes, it doesn't matter, what matters is what we believe as everyone of us who are into crypto and investing in bitcoin might not have the same answer or belief.

Thanks for hitting me. I seem to be getting what the store of value really means. It is not true that BTC does not belong as a store of value because it is not depreciated. Is depreciated the amount that is gradually decreasing that can no longer return to the previous price or increase such as computers, vehicles, tools and etc.? So it just depends on a user whether he will consider BTC as a store of value if its price rises or falls.

I agree on that. I guess it is really on the person whether bitcoin is a store of value or not. For me, it is not a store of a value, but for other it is. I guess the reason is that while time passes, we are seeing higher value of it and it also increases further. But bitcoin also falls sometimes and we do not know when it will happen because of its volatility.

I also agree that even though I beleieve that it is not a store of value, I will keep on holding it since I think it will give more profits in the near future.

RealMalatesta

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Why do we have to agree on something just because you think it is like that? I mean obviously you can think that way but that doesn't mean that others have to think that way neither. Bitcoin is a store of value to me, that is my decision and that is my idea, I am not saying you should see it store of value as well, I do not care what others think about bitcoin, you can think of it however you want, I am not going to try and change that.

But, I will also not allow others to change my perspective on bitcoin neither. Right now we are living in a bitcoin world where we are trying to remove ourselves from the governments grasps, why? Because financially and socially and basically in all aspects of life government makes decisions for us, with bitcoin we take that power back, and I will not do that just so I can give it to some other guy.

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Quote from: Questat on July 15, 2020, 08:48:03 AM

BTC is volatile but it's not depreciating, because when we say it's depreciating it will not be valuable again, that's not the nature of bitcoin, so I don't agree with the way you describe bitcoin.

it could be a no or a yes, it doesn't matter, what matters is what we believe as everyone of us who are into crypto and investing in bitcoin might not have the same answer or belief.

Thanks for hitting me. I seem to be getting what the store of value really means. It is not true that BTC does not belong as a store of value because it is not depreciated. Is depreciated the amount that is gradually decreasing that can no longer return to the previous price or increase such as computers, vehicles, tools and etc.? So it just depends on a user whether he will consider BTC as a store of value if its price rises or falls.

Questat

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Quote from: Text on July 15, 2020, 08:45:13 AM

A store of value is an asset that maintains its value without depreciating...

So, do you think that is a characteristic of Bitcoin?

Isn't it? Because BTC is volatile, it changes its value in no time.

Btc is volatile but it's not depreciating, because when we say it's depreciating it will not be valuable again, that's not the nature of bitcoin, so I don't agree with the way you describe bitcoin.

Quote from: Text on July 15, 2020, 08:45:13 AM

I agree BTC is not a store of value.

But, I am one of the investors and HODLers who believe that its price will increase in the future so they prefer to save more.

it could be a no or a yes, it doesn't matter, what matters is what we believe as everyone of us who are into crypto and investing in bitcoin might not have the same answer or belief.

Text

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A store of value is an asset that maintains its value without depreciating...

So, do you think that is a characteristic of Bitcoin?

Isn't it? Because BTC is volatile, it changes its value in no time.
Maybe later or tomorrow its value or price will be lower compared to today.

I agree BTC is not a store of value.

But, I am one of the investors and HODLers who believe that its price will increase in the future so they prefer to save more.

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Quote from: mindrust on July 09, 2020, 05:16:55 AM

Quote from: thirdprize on July 09, 2020, 05:06:33 AM

You have just described an investment, not a store of value.

What is a store of value?

Anything that retains purchasing power into the future.
Good example are fiat money or precious metal.
The point is risk management and low volatility
connected with asset.

Topic: Can we agree BTC is not a store of value? (Read 761 times)