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Author Topic: Where is Bitcoin used as store of value, other than the core community?  (Read 252 times)
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December 09, 2019, 03:40:52 PM
 #21

"store of value" is not something that rises in price. instead it is something that keeps its purchasing power and in modern time money is THE store of value that majority use. and since bitcoin IS money, it is also a store of value. the more it is used as money, the stronger store of value it becomes.

Many will dipute that bitcoin is Money - yet.

Too much friction and volaitily - not really unit of account...


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December 09, 2019, 03:53:01 PM
 #22

Currently, there are three, Venezuela, South Sudan, and Zimbabwe.
Argentina, Sudan, and Iran are also experiencing 50% inflation per year.
Holy crap, I wasn't aware of that inflation situation in Sudan and Iran.  Sudan doesn't surprise me, but I figured Iran's economy was relatively stable--though I have to admit I don't follow the world economic situation much, or politics, or global news (lol).

I don't know if bitcoin is being used as a store of value even in unstable countries like Venezuela.  If the citizens are using it at all, it's probably to pay for things.  And my understanding is that even though their local currency is hyperinflated, most people have turned to either the USD or currencies from neighboring countries if they're stable enough.  I've heard stories of Dash being widely adopted as a payment method in Venezuela, but I don't know if that's hype or what. 

I'm also not sure how many people in those countries are trying to store any value.  They're lucky if they have enough money to buy the basic necessities of life most of the time.  Correct me if I'm wrong.

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