Is it a value reserve? - page 2. | Bitcointalksearch.org

Oilacris

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Quote from: snipie on May 22, 2019, 01:33:47 PM

Quote from: bonker on May 22, 2019, 03:28:47 AM

Quote from: alina345 on May 20, 2019, 09:20:47 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 price is not stable, it can in fact increase or less likely decrease from year to year, however it is by far more stable than bitcoin.
Bitcoin has a fixed quantity but not a limited one. If bitcoin adoption becomes global and demand >>>supply, the price will jump and the satoshi unit could be devised further to millisatoshi? nanosatoshi?...

That's an another story yet its just normal to think on about the law of supply and demand not only applied with Bitcoin which do have limited supply but on all sorts of things.

This had been an argumentation saying about Bitcoin is a value reserve which it really isn't if we do think deep through.

snipie

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Quote from: bonker on May 22, 2019, 03:28:47 AM

Quote from: alina345 on May 20, 2019, 09:20:47 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 price is not stable, it can in fact increase or less likely decrease from year to year, however it is by far more stable than bitcoin.
Bitcoin has a fixed quantity but not a limited one. If bitcoin adoption becomes global and demand >>>supply, the price will jump and the satoshi unit could be devised further to millisatoshi? nanosatoshi?...

South Park

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Quote from: Naida_BR on May 18, 2019, 03:27:14 PM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

Bitcoin is more than a way to store value.
Right now it is so because there are not any real use cases for it in our real gold, thus people hodl bitcoin and wait for it to become mainstream. Its feature may change in the future as the usage of it changes through time.

In my opinion it will never change, if people are willing to hold their bitcoin when it does not have many uses why they will sell their bitcoin for fiat once a significant portion of the population of the world is using it? At that point long term holders will just use enough bitcoin to cover their necessities and to spend on luxuries but the rest of their bitcoin will be in hardware and paper wallets and they will never sell it, or at least that is what I hope they will do because that is my long term plan.

bonker

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Quote from: alina345 on May 20, 2019, 09:20:47 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.

nur rochid

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Quote from: magneto on May 21, 2019, 03:30:17 AM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

What do you mean 'in a deterministic sense'? That's the part of your post that I did not understand.

Bitcoin is a long term store of value by design, given that it doesn't have the issues that fiat currencies are faced with in terms of the ease of which the value of fiat currencies can be debased simply through centralised manipulation.

Even if bitcoin doesn't necessarily replace fiat, it will be of value in the sense that it'll provide a stable, save haven type global asset for people to hedge against inflation in fiat, especially in countries which suffer from hyperinflation. Perhaps that's the answer you're looking for.

like in my country where although not as a currency, bitcoin will be included in the stock exchange as an investment tool. therefore it will be rich for those who are loyal to bitcoin to keep holding it in the long run

Kevin77

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I think it is funny that these super rich wealthy people are afraid of just one currency that is literally made up in paper and then put to use only 10 years ago by probably someone they would call a nerd.

I mean the power of "nerd" is literally going really up in the recent decade with all the facebooks and twitters and googles and all that, they became the wealthiest and richest people with the most power in the world who are also willing to help the world time to time (at least bill gates does and if not wrong Mark signed a deal to give away half of his wealth to charity when he dies). This sherman dude literally showing us that the new generation of rich will not be only rich but responsible and instead of the boomer period we will have a better world in the future, the potential is right there.

magneto

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

What do you mean 'in a deterministic sense'? That's the part of your post that I did not understand.

Bitcoin is a long term store of value by design, given that it doesn't have the issues that fiat currencies are faced with in terms of the ease of which the value of fiat currencies can be debased simply through centralised manipulation.

Even if bitcoin doesn't necessarily replace fiat, it will be of value in the sense that it'll provide a stable, save haven type global asset for people to hedge against inflation in fiat, especially in countries which suffer from hyperinflation. Perhaps that's the answer you're looking for.

alina345

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Hello =)

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.

Hypnosis00

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Quote from: indrakusumaindra on May 20, 2019, 11:27:33 AM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

~snip~

Well i heard the news about rusia going to sell their gold for bitcoin. I do think it could be real in future but still i do think bitcoin is a bad choices for value reserve cause bitcoin has a high volatility which is not a good choices to store value. But who knows in future bitcoin could be usefull and also have less volatility like gold.

I don't think so.n That is just a rumor and I know how gold represents for something, it is one of a precious metal and symbolize riches. Bitcoin is just a digital asset and its value is very considerable but not to the extend that it will be consider as a lifetime investment to hold compared to gold.

Cause for me, I will never sell my gold for any reason, maybe I'll find a way to get funds in order to buy Bitcoins.

indrakusumaindra

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

Well i heard the news about rusia going to sell their gold for bitcoin. I do think it could be real in future but still i do think bitcoin is a bad choices for value reserve cause bitcoin has a high volatility which is not a good choices to store value. But who knows in future bitcoin could be usefull and also have less volatility like gold.

fiulpro

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A value reserve should essentially be something that is non volatile and doesn't change it's value that drastically with respect to time , unfortunately it cannot be regarded as a reserve since it is quite volatile and cannot be taken as a store house of value for the future , quite the opposite it can become valued at zero the next moment and no one would be responsible for it therefore I don't think it can be taken as one.
Gold is something that we would need as long as there are women in this world or we find some better and cheaper alternative.
I think it cannot be regarded as gold till the time it's volatile and isn't backed up by any other cryptocurrencies.

ricardobs

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

A lot of people don't think Bitcoin should be used as a reserve for value because it not stable, the volatility of Bitcoin is too much that if you invest your money in it you're likely to lose at anytime if you're not careful. But Bitcoin can be worth it as an investment, and that's if you really know what you're doing and how to play your game perfectly. If you invest at the right time you're going to reap the fruits heavily as the price goes up, your profit will be going up as well.

whiteblue

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Quote from: Naida_BR on May 18, 2019, 03:27:14 PM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

Bitcoin is more than a way to store value.
Right now it is so because there are not any real use cases for it in our real gold, thus people hodl bitcoin and wait for it to become mainstream. Its feature may change in the future as the usage of it changes through time.

indeed a small part of bitcoin functions like that, but bitcoin can still develop again in the future even more so with the very limited number of bitcoin supplies that will make the price of bitcoin more expensive in the future.

sirminesalot

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Quote from: annango on May 18, 2019, 03:45:04 PM

Quote from: neonshium on May 18, 2019, 08:37:12 AM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

With the current state of bitcoin, it is possible for bitcoin to operate two identities, the first is as a store of value making it a digital gold that the value keeps appreciating over time, and with the help of segwit being implemented into the crypto space, it is even now possible to use bitcoin as a means of payment for transactions carried out even to the least, like purchasing of coffee, this can be done via the use of lightning network.

It largely depends on each people's thought that whether or not bitcoin is a value reserve. In reality, compared to fiat currency and gold, it shows much dominant role. Our world is going to approach cashless society, bitcoin is a good kind of crypto currency that can easily connect to the world of using advanced technology for payment. Although the number of country recognizes bitcoin officially is really few, still bitcoin is getting more developed and do its great role in the whole perpect of modern life acquire. I think bitcoin should be considered a value reserve.

I think that paper money will still be valuable to use today, rather than crypto money because there are not many countries that recognize bitcoin. but I agree that bitcoin must be considered a value reserve

annango

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Quote from: neonshium on May 18, 2019, 08:37:12 AM

Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

With the current state of bitcoin, it is possible for bitcoin to operate two identities, the first is as a store of value making it a digital gold that the value keeps appreciating over time, and with the help of segwit being implemented into the crypto space, it is even now possible to use bitcoin as a means of payment for transactions carried out even to the least, like purchasing of coffee, this can be done via the use of lightning network.

It largely depends on each people's thought that whether or not bitcoin is a value reserve. In reality, compared to fiat currency and gold, it shows much dominant role. Our world is going to approach cashless society, bitcoin is a good kind of crypto currency that can easily connect to the world of using advanced technology for payment. Although the number of country recognizes bitcoin officially is really few, still bitcoin is getting more developed and do its great role in the whole perpect of modern life acquire. I think bitcoin should be considered a value reserve.

Naida_BR

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

Bitcoin is more than a way to store value.
Right now it is so because there are not any real use cases for it in our real gold, thus people hodl bitcoin and wait for it to become mainstream. Its feature may change in the future as the usage of it changes through time.

Shenzou

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

In theory use, bitcoin similar to gold have a limited supply and a high demand that is ever increasing, and for bitcoin once all of the supply is limited the price is going to keep increasing, and it will become a rare thing to have, bitcoin as you said could make a change in the world, but there are people who are in their interest that bitcoin stays the way it is and falls down and perch, people who have the power lack vision and they only make decision based on their interest and not the world, but time only is capable of changing this so we have to keep supporting it.

otong

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

all possibilities can occur and no one can ascertain the future and what happens in technological progress and progress can happen and the development of the crypto currency depends on its own investors

neonshium

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Quote from: a7goo on May 13, 2019, 02:20:17 PM

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

With the current state of bitcoin, it is possible for bitcoin to operate two identities, the first is as a store of value making it a digital gold that the value keeps appreciating over time, and with the help of segwit being implemented into the crypto space, it is even now possible to use bitcoin as a means of payment for transactions carried out even to the least, like purchasing of coffee, this can be done via the use of lightning network.

snipie

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Quote from: yusupjatigumilar on May 18, 2019, 07:36:32 AM

The price of bitcoin is directly not reserved, but the increasingly overloaded supply and demand activities that make bitcoin valuable. In the future, it is not impossible that bitcoin can have a very high value, we can see when Bitcoin was first created and used to buy pizza with 10,000 btc, but now with that amount we can buy a pizza factory. in the future it will also be more than that.

From les than 1 dollar to more than $18k, well, %18000 rise ? Imagine someone having more than 100 bitcoin that time and now! And imagine the same thing happening in the future once the price rise to 6 digits. Bitcoin is the most valuable investment ever happened. It is better than gold that was used as a reserve...

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