Topic: Is it a value reserve? (Read 866 times)

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

It's more like a gold in a digital aspect because of it's value. But I doubt if it could change the world's monetaty system.

Marry Finch

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Quote from: Kemarit on May 23, 2019, 06:42:17 AM

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

Now many people use Bitcoin and cryptocurrency as a whole as a reserve of value preservation. How can Bitcoin be used as a reserve value? At the same time, Bitcoin as digital gold is not very good due to high price volatility.
As for the question of changing the cryptocurrency world at least in the field of finance, it is too early to talk about it. Recently, the European Central Bank announced that cryptocurrency has not yet had a significant impact on financial relations in society. Cryptocurrency has just started to develop and we should not make premature conclusions for now.

South Park

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I am terrible at Fantasy Football!!!

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Majority called it digital money, or even digital gold (comparing it to Gold, because it's being mine). And as far as changing the world, well it has disrupted the financial industry already. Just look at how banks and government treat crypto. Some of they think that crypto will lead to chaos and economic collapses. But so far we haven't heard anything except positive outcome, specially in countries like Venezuela and Zimbabwe for instance.

Exactly, banks and governments are trying to scare people away from bitcoin and while there are without a doubt some issues, like the huge amount of scammers, those issues are not really inherent to bitcoin, however when there are economic issues in a country we are seeing that cryptocurrencies can be used to alleviate those problems and as cryptocurrencies become more powerful and influential it will not surprise me that its effects will become even more pronounced and positive during the next world crisis and that will lead people to realize their power and to finally adopt them.

Greed Dev

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Quote from: maxreish on May 23, 2019, 01:22:01 AM

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

any kind of property that becomes invalid or lost, influences many people. When Bitcoin is lost, it affects the whole market crypto in many respects. We can say that the importance of Bitcoin is huge because it is accounting for more than 55% of the market share of crypto market. It is a huge value and it can cause recession and reduce supply in the financial trading market.

TheUltraElite

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So anyway, I applied as a merit source :)

We can say that the economic status is now changing. Thanks to the cryptocurrency.

The effect on crypto has been widespread but it is still meek and in its early stages. I wont say that it has made a huge impact but has made a sizeable impact.

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In fact yes, we can consider bitoin as a digital gold now since it was some kind of investment that can fluctuates and can earn profits like physical gold does.

Only if you sell your bitcoin. Not if you keep holding your coins. Parting with your bitcoin can be a tough decision if you are stubborn like the few hodlers of the early days.

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Anyhow, the world is slowly adopting blockchain technology. See how some businesses are accepting it now? It is widely used nowadays.

Blockchain even though is something that is being adopted should not be though to be similar to bitcoin. People are still very skeptical about bitcoin and its future. Many people even take bitcoin seriously as something to be used in future.

ricardobs

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Quote from: a7goo on May 13, 2019, 02:57:52 PM

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

I believe that is the purpose for Bitcoin , to be a store of value and not cash. But it is not there yet, and there are also a lot of risk in holding Bitcoin. If you buy Bitcoin the rate of its volatility shows that you're giving t be taking a lot of risks, because you can check the next day only to notice that your asset has drastically dropped in value.

So I think for now it is not yet a store of value but it is evolving to become a store value soon. For now we are still going to hold gold in position of being the better option when we talk of a means of storing our values.

Kemarit

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Certainly ........ but paying a pizza 10,000 btc in 2010 is not very cheap....Laszlo Hanyecz DOCET. The future is a Satoshi' s idea and his paradigm.

Forgot about Laszlo Hanyecz, that time bitcoin is purely on its experimental phase. No one would have thought that the price could zoom at $19000 at pop in 2017.

Quote from: Supercrypt on May 23, 2019, 03:14:44 AM

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

Majority called it digital money, or even digital gold (comparing it to Gold, because it's being mine). And as far as changing the world, well it has disrupted the financial industry already. Just look at how banks and government treat crypto. Some of they think that crypto will lead to chaos and economic collapses. But so far we haven't heard anything except positive outcome, specially in countries like Venezuela and Zimbabwe for instance.

leea-1334

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Temporary forum vacation

If bitcoin supply eventually get exhausted, there will always be chance to transfer within the circulating one, and this is why many people believe that bitcoin has the tendency of increase to about 1 million dollars per one when the supply becomes very scarce and miners can no longer mine again, other than purchasing from already existing holders.

Don’t forget the fact too that we still have other good coins too that can serve this purpose, like Ethereum.

How on earth can bitcoin supply get exhausted? It is a currency as much a value reserve and people will continue to use it. Look at the transaction history and statistics. Blocks getting more full every day. More transactions per second every year, and this is even with Lightning Network taking more and more transactions off the chain.

If no one uses the coin, there is no demand, then there is no use for supply.

Supercrypt

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At least Bitcoin isn't a fractional reserve currency. Bitcoin itself is mined much like Gold and has a limited quantity. The value of each Bitcoin is created and strengthened by the vast quantity of miners around the globe. Bitcoin is a store of value which moves in the direction of the media, government, businesses and developers who support it.

Bitcoin has limited quantity but not the stable value like gold so the chances of using it as reserve for value to any currency is null and bitcoin itself a currency whereas gold is not.

I think the supply we have can still serve many nations, reason being that a time will come that 1 bitcoin will become very expenses, so quantity won’t really matter again, but the cost of even purchasing I bitcoin.

If bitcoin supply eventually get exhausted, there will always be chance to transfer within the circulating one, and this is why many people believe that bitcoin has the tendency of increase to about 1 million dollars per one when the supply becomes very scarce and miners can no longer mine again, other than purchasing from already existing holders.

Don’t forget the fact too that we still have other good coins too that can serve this purpose, like Ethereum.

maxreish

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Quote from: dark1234 on May 22, 2019, 07:24:33 PM

Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?

We can say that the economic status is now changing. Thanks to the cryptocurrency. In fact yes, we can consider bitoin as a digital gold now since it was some kind of investment that can fluctuates and can earn profits like physical gold does. Anyhow, the world is slowly adopting blockchain technology. See how some businesses are accepting it now? It is widely used nowadays.

cocoadreamboy

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Quote from: cocoadreamboy on May 22, 2019, 06:52:11 PM

Quote from: kemetz on May 22, 2019, 06:30:18 PM

Quote from: cocoadreamboy on May 22, 2019, 06:52:11 PM

At least Bitcoin isn't a fractional reserve currency. Bitcoin itself is mined much like Gold and has a limited quantity. The value of each Bitcoin is created and strengthened by the vast quantity of miners around the globe. Bitcoin is a store of value which moves in the direction of the media, government, businesses and developers who support it.

Bitcoin has limited quantity but not the stable value like gold so the chances of using it as reserve for value to any currency is null and bitcoin itself a currency whereas gold is not.

gold and bitcoin I think it's not too much different because every year the price will definitely be the same as moving up
only if bitcoin has a limited amount so that the price will continue to move according to the turnover in exchange
we don't know what the future will be like, bitcoin, whose value is always unstable if it is used as a currency, I don't think it will run smoothly

Bitcoin actually has a greater value reserve than gold because bitcoin has ACTIVE investment chasing it. The exchange volumes are inflated by over 95%. There is very little actual volume it is all lies. Check out my website to see how the price floor works:

https://www.amsinger.org/subscriber-data

good article guys ....
and of course bitcoin will always be able to increase by more than 95% because we know bitcoin can be rarer than gold and in trading every day with a higher volume ratio we can see it in CMC and every day, therefore a long-term investment for bitcoin is more challenging because there is a high level of risk and a very large profit offer

Be very careful with CMC volume quotes this is a very good article about how CMC and exchanges overly inflate the volume of crypto:
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf
CMC is a manipulative institution, and it is a big reason of why I made my site, to present a clear truth.

Aaron

dark1234

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Quote from: kemetz on May 22, 2019, 06:30:18 PM

Quote from: kemetz on May 22, 2019, 06:30:18 PM

At least Bitcoin isn't a fractional reserve currency. Bitcoin itself is mined much like Gold and has a limited quantity. The value of each Bitcoin is created and strengthened by the vast quantity of miners around the globe. Bitcoin is a store of value which moves in the direction of the media, government, businesses and developers who support it.

Bitcoin has limited quantity but not the stable value like gold so the chances of using it as reserve for value to any currency is null and bitcoin itself a currency whereas gold is not.

gold and bitcoin I think it's not too much different because every year the price will definitely be the same as moving up
only if bitcoin has a limited amount so that the price will continue to move according to the turnover in exchange
we don't know what the future will be like, bitcoin, whose value is always unstable if it is used as a currency, I don't think it will run smoothly

Bitcoin actually has a greater value reserve than gold because bitcoin has ACTIVE investment chasing it. The exchange volumes are inflated by over 95%. There is very little actual volume it is all lies. Check out my website to see how the price floor works:

https://www.amsinger.org/subscriber-data

good article guys ....
and of course bitcoin will always be able to increase by more than 95% because we know bitcoin can be rarer than gold and in trading every day with a higher volume ratio we can see it in CMC and every day, therefore a long-term investment for bitcoin is more challenging because there is a high level of risk and a very large profit offer

cocoadreamboy

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At least Bitcoin isn't a fractional reserve currency. Bitcoin itself is mined much like Gold and has a limited quantity. The value of each Bitcoin is created and strengthened by the vast quantity of miners around the globe. Bitcoin is a store of value which moves in the direction of the media, government, businesses and developers who support it.

Bitcoin has limited quantity but not the stable value like gold so the chances of using it as reserve for value to any currency is null and bitcoin itself a currency whereas gold is not.

gold and bitcoin I think it's not too much different because every year the price will definitely be the same as moving up
only if bitcoin has a limited amount so that the price will continue to move according to the turnover in exchange
we don't know what the future will be like, bitcoin, whose value is always unstable if it is used as a currency, I don't think it will run smoothly

Bitcoin actually has a greater value reserve than gold because bitcoin has ACTIVE investment chasing it. The exchange volumes are inflated by over 95%. There is very little actual volume it is all lies. Check out my website to see how the price floor works:

https://www.amsinger.org/subscriber-data

kemetz

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