What would be dead is the inflated expectations of a few overzealous people. That's all.
So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?
Honestly answer the question. 2014 is nearly over, it's been 10 months.
If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.
Sticky please. First post everyone should read who enters this forum.
This is what frustrates me about the constant touting of bitcoin as a "store of value." Ask anyone who bought in during 2014 how that's working out for them.
Now go ask the same question to those who bought in 2012/2013 and come back in a few years.
Is that what a "store of value" is? Buy today, lose more than 1/2 the value in several months, and then hope we have a bubble that goes 10x my initial buy-in a few years later? Is that a "store of value"?
scarsbergholden: You seem to be exaggerating a little bit and playing ignorant. I believe that store of value merely means that by the time you cash out, the asset is worth at least the same and potentially more than it was worth when you purchased it. Surely, with storage of value, you would probably like it to hold at least the value of relatively stable storage of value mechanisms... maybe expecting some appreciation of value between 3 to 5% per year. Of course, if it gains greater value than otherwise stable value storage vehicles, then that would be icing on the cake.
Then we disagree on the definition of a store of value. While Wikipedia is shite, I think it has this sentence right -- "The point of any store of value is intrinsic risk management due to an inherent stable demand for the underlying asset."
To act as if bitcoin can serve this role would be to play ignorant. Bitcoin is in its infancy. I'm not denying the potential, but I don't think we have the price history and historic demand to feel confident as a store of value at all.
Using stores of value is a way to manage your risk. Buying bitcoin is, on the other hand, a very risky investment. That doesn't mean we can't go to the moon. But the point still stands.
The point also still stands that I explained my point of view, so the fact that you consider BTC to NOT be a good store of value is your perspective and your way of treating it (actually you seem to be completely denying that it can be used or even considered to be a store of value, which seems a bit extreme from my point of view); however, even if you want to have a narrow definition regarding what is or what is NOT a store of value that does NOT mean that others may NOT have means to incorporate BTC in to their total store of value package... as I already explained in my earlier post.... and I find NO need for you to attempt to denigrate others for having a different perspective from you.
..... YET.
