Medium of Exchange vs Store of Value: Where is Bitcoin today?

[cabron]

I think ass long as there is an intrinsic value of the coin, it still can be both medium of exchange and store of value. Value after all are presumed by traders which makes its value. The whole point for satoshi is to make it available for everyone and thus Bitcoin can be sent to anywhere in the world and this had been achieved long time ago as long as it has a value no matter how low it is.

[globalcitizen]

A store of Value , Holds it Value Relative to Fiat.

Bitcoin is not a store of Value as over 80% can be lost at a moment's notice as the past year has proven.

Things that value is almost fixed are a store of value.

People need to learn the difference.

Bitcoin is a fluctuating medium of exchange, it has never been and never will be a store of value.

Your view is likely a valid one. However, according to Wikipedia, a store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. In other words, a store of value is anything that retains purchasing power into the future. For instance, the most common store of value in modern times has been money, currency, stock or a commodity like a precious metal or financial capital. Do you agree that Bitcoin is money, currency or an asset? If yes, then, it could likely serve as a store of value.

[incomefromcoins]

bitcoin is in a transition stage in between mass adoption and government regulators green signal bitcoin already proved both the features like the medium of exchange and store of value. when trillions of dollars are processed in blockchain it proves it is exchange and store of value

[xuan87]

Bitcoin still in medium exchange phase and need to be on that phase to survive in the future, but for now Bitcoin is more popular due to the store of value, most of the fluctuating value is coming from the trade action, to become currency,Bitcoin still need to face many obstacles

[globalcitizen]

Bitcoin as a medium of exchange is still vague and not yet widespread as it should have simply because of its volatility,its somewhat not possible to get the required number of merchants to accept the bitcoin that'll make it an acceptable medium of exchange,considering how volatile and unpredictable the bitcoin is, and also putting into consideration that the major aim of a merchant is his or her profits and nothing more

Bitcoin being a store of value wasn't the perceived purpose for it's creation,but it definitely can act as such based on its value/price/unpredictability
I think this days the bitcoin is used more as a store of value as we've got less bitcoin enthusiast looking to spread the word about bitcoin or get a store near them to accept the bitcoin as a means of payment.
We're all cool with purchasing and storing for a pump in order to earn huge bucks

I totally identify with your point. I do believe that bitcoin's main goal is financial inclusion and decentralized digital economy. And this can only be achieved if bitcoin can effectively play the role of money as a medium of exchange. But this is not going to happen if it cannot be used as a good store of value. Its ability to serve as a store of value will inspire confidence in its use as a medium of exchange.

[valentin68]

Bitcoin is the BEST currency that exist in the world now. It is better than the Euro and the USD, because it give the possibility sending money everywhere in the world, and have the PROOF that you have done that.
 When we talk about sending money everywhere in the world Paypal is the best, Bitcoin having the disadvantage of some time delay (usually 30 minutes) necessary for 3 confrmations of the transaction) until the money arrives. Bitcoin is good because of these confimations of a transaction, when a transaction is done, then these confirmations are the proof that it has been done.
 This is why bitcoin is good, better than the Euro and the USD.

Bitcoin has been invented as a medium of exchange, because it is very good, it has become a Store of Value.
Alt-coins are being used now as a medium of exchange, their confirmation time is faster and they are more convenient (as example the number of the dogecoins in this world is not limited, when compared to the number of bitcoins: 21 Millions of bitcoins in this world).
 

[Zin-Zang]

A store of Value , Holds it Value Relative to Fiat.

Bitcoin is not a store of Value as over 80% can be lost at a moment's notice as the past year has proven.

Things that value is almost fixed are a store of value.

People need to learn the difference.

Bitcoin is a fluctuating medium of exchange, it has never been and never will be a store of value.

Your view is likely a valid one. However, according to Wikipedia, a store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. In other words, a store of value is anything that retains purchasing power into the future. For instance, the most common store of value in modern times has been money, currency, stock or a commodity like a precious metal or financial capital. Do you agree that Bitcoin is money, currency or an asset? If yes, then, it could likely serve as a store of value.

Store of Values don't depreciate 80% and still be called a store of value.

So while you could make the argument Bitcoin functions as a crypto asset, it would be like milk with a short expiration where the value is completely Lost!

Sorry, no good store of value analogy works at all for bitcoin, it depreciates too much to have any true usage as such.

While Bitcoin has proven to be in the last Year is a Collapse/Loss of Value nothing more.
It is a Gamblers Dream , but too unstable for real financial security.

Want to based your kid's college fund, your mom's retirement on something that loses 80% before you can cash out.

No Bitcoin is Risk, and should be considered Pure Gambling as it has proven , it will make some rich and others poor,
much like a black jack table or roulette wheel.
Has anyone ever called betting on the horse races a store of value.
The Crypto races are the same, make your bets on your favorite crypto.
Just as race horses can die so too can Bitcoin.


 

[Vigme86]

A store of Value , Holds it Value Relative to Fiat.

Bitcoin is not a store of Value as over 80% can be lost at a moment's notice as the past year has proven.

Things that value is almost fixed are a store of value.

People need to learn the difference.

Bitcoin is a fluctuating medium of exchange, it has never been and never will be a store of value.

It depends, how are you defining store of value ? In a free market, nothing has a fixed price.
If you see Gold/USD 50-years chart, it has highs and lows too.
Do you think gold is not a store of value ?

A store of value is an asset that maintains its value without depreciating.
https://www.investopedia.com/terms/s/storeofvalue.asp

BTC has 80% losses every 2 or 3 years , a store of value it is not.

Gold remains relatively stable , and when it price decreases too much , their are alternative uses in industry for it that eventuality increase it's price.

BTC has no other usage except as a payment system, which the miners are now losing money to keep it running.

Gold can't die, because a group of miners stop mining , bitcoin can.

Find anyone that purchased Bitcoin above $6000 and tell them it is a store of value,
don't be surprised when they laugh in your face and ask for their thousands of dollars of value back that evaporated into thin air.
 

 

You do have a point, but BTC is a store of value not in the mid term (2-3 years) but in the long one (at least 5 years).

Gold has lost 50%+ of its value against USD in the past within two years (Jan 1980 - Jun 1982), but in the long term has always kept its value.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

BTC is really too young to be judged on a long term view, but it has always shown a steady growth since its foundation, we'll see in 2021 who's right.
If someone invested a sum at 6,000 USD/BTC that he cannot afford to lose I'm sorry for him, but that's a misinvestment.

By the way BTC can't die if current miners stop mining, this just means difficulty will be lowered, medium hashrate will decrease, new miners will come.

[globalcitizen]

Bitcoin is the BEST currency that exist in the world now. It is better than the Euro and the USD, because it give the possibility sending money everywhere in the world, and have the PROOF that you have done that.
 When we talk about sending money everywhere in the world Paypal is the best, Bitcoin having the disadvantage of some time delay (usually 30 minutes) necessary for 3 confrmations of the transaction) until the money arrives. Bitcoin is good because of these confimations of a transaction, when a transaction is done, then these confirmations are the proof that it has been done.
 This is why bitcoin is good, better than the Euro and the USD.

Bitcoin has been invented as a medium of exchange, because it is very good, it has become a Store of Value.
Alt-coins are being used now as a medium of exchange, their confirmation time is faster and they are more convenient (as example the number of the dogecoins in this world is not limited, when compared to the number of bitcoins: 21 Millions of bitcoins in this world).
 

Your position that Bitcoin is the best currency that exists in the world today is very debatable. This is because you got to consider its other weak points such as high volatility, underdeveloped and narrow adoption, as well as weaning confidence in the market by the ecosystem players. The ability to confirm transactions in the public ledger using cryptography is not enough to give it that status as the best currency in the world. After all, transactions done using other currencies such as USD and Euro can as well be confirmed, although in a private ledger. Bitcoin needs to do more if it must earn that status.

[erikoy]

Well it has not been accepted and legally adapted to all countries around the world. The bitcoin system is still on the process and the big disappointment that bitcoin will not going to survive and it will going to end as the system has been accused as scam due to the ICO projects that uses the concept of bitcoin.

[globalcitizen]

Well it has not been accepted and legally adapted to all countries around the world. The bitcoin system is still on the process and the big disappointment that bitcoin will not going to survive and it will going to end as the system has been accused as scam due to the ICO projects that uses the concept of bitcoin.

Although Bitcoin is facing a very hard time in its survival journey I still strongly believe that it is not going to be its end - not with the highly acclaimed valuable nature of blockchain, the technology that powers it. Bitcoin isn't going to die. It will survive as blockchain continues to gain more popularity and adoption across borders.

[maxamus]

Well it has not been accepted and legally adapted to all countries around the world. The bitcoin system is still on the process and the big disappointment that bitcoin will not going to survive and it will going to end as the system has been accused as scam due to the ICO projects that uses the concept of bitcoin.

Although Bitcoin is facing a very hard time in its survival journey I still strongly believe that it is not going to be its end - not with the highly acclaimed valuable nature of blockchain, the technology that powers it. Bitcoin isn't going to die. It will survive as blockchain continues to gain more popularity and adoption across borders.

There are few countries which is not allowed the use of bitcoin hence there are few intermediaters or brokers who help the people in exchanging btc to other coins in terms of storing btc there are few hardware tokens available and software available to store coins.  Bitcoin is fighting back to get its value and gaining confidence from investors.

[coolcoinz]

It's a very good store of value, despite what newbies and people from outside of the space are saying. There are only 2 things that you have to understand.
1. Bitcoin has a steady gains of around 10% a year, which means that it's slowly gaining value if you buy only at the lowest yearly prices. If you bought at the low of 2016, it will retain value and bring you some profit in 2017 and so on, if you buy at the low of 2017, it will be worth more in 2018.
2. You should avoid buying hypes and pumps, and it's easy to spot these events. If Bitcoin is going up more than 50% in a single month, it's in a hype phase. It's known to gain over 300% a month, which is exactly the time when you should never buy if you want to treat it as a store of value, and not as a "get rich quick and forget about it" scheme.

I bought my coins in 2015 and don't believe that I'll ever see sub $500 Bitcoin, which means that it is going to work as a store of value for me.

[AltcoinTradingSignal.com]

Currently, I think, it still acts as a store of value. However, this might change slowly as soon as lightning network opens up to the public. Right now, the lightning network is used by merchants in a closed environment.

[realcrypto]

Till date I still standing my ground of my opinion that bitcoin is better to be use as a store of value instead of fiat which loses value as the years goes by. Check the value of $1 dollar 10 years ago and the value of 1 bitcoin 10 years ago. You will understand what I am saying.

[Pab]

We are in the time of change and chaos
Chaos is change
Crypto industry is in change
If we read news than we can see that something new and real is going to born
We have biggest companies coming to crypto and blochchain
We are just before introducing 5G what will bring us AI VR AR
Soon all that technology will be our daily life
Blockchain will be one of them
It is enough to say that blockchain is priced on over 2 trillions dollars what is twice more than current internet value
But old has to die before new will born

[aoluain]

Bitcoin will always be a medium of exchange, ir payment system or currency
regardless of its FIAT value. We can send payment and exchange this coin
worldwide in a matter of minutes.

It is looked on as a store of value because of what it can potentially become
a rare commodity with a lot of adoption and a real world usage as above.

At the moment in one perspective it doesnt look like a good store of value
especially for those people who are showing FIAT losses but again i point
to bitcoins potential.

One of the major issues with bitcoin is the emphasis put on its FIAT value
and its difficult not to because so many of us exchange our FIAT into bitcoin
so we are looking to see a gain. We really need to forget about that FIAT
and think in terms of bitcoin.

[globalcitizen]

It's a very good store of value, despite what newbies and people from outside of the space are saying. There are only 2 things that you have to understand.
1. Bitcoin has a steady gains of around 10% a year, which means that it's slowly gaining value if you buy only at the lowest yearly prices. If you bought at the low of 2016, it will retain value and bring you some profit in 2017 and so on, if you buy at the low of 2017, it will be worth more in 2018.
2. You should avoid buying hypes and pumps, and it's easy to spot these events. If Bitcoin is going up more than 50% in a single month, it's in a hype phase. It's known to gain over 300% a month, which is exactly the time when you should never buy if you want to treat it as a store of value, and not as a "get rich quick and forget about it" scheme.

I bought my coins in 2015 and don't believe that I'll ever see sub $500 Bitcoin, which means that it is going to work as a store of value for me.

I never thought it this way. You got a good defence for the price movement. The challenge is just that most people whose sole aim isvto make quick cash enter the market when almost everybody is entering only to find their fingers burnt by the prevailing hype at that time. If everybody can understand the market the way you do I don't think they will have any reason to lament.

[globalcitizen]

Bitcoin will always be a medium of exchange, ir payment system or currency
regardless of its FIAT value. We can send payment and exchange this coin
worldwide in a matter of minutes.

It is looked on as a store of value because of what it can potentially become
a rare commodity with a lot of adoption and a real world usage as above.

At the moment in one perspective it doesnt look like a good store of value
especially for those people who are showing FIAT losses but again i point
to bitcoins potential.

One of the major issues with bitcoin is the emphasis put on its FIAT value
and its difficult not to because so many of us exchange our FIAT into bitcoin
so we are looking to see a gain. We really need to forget about that FIAT
and think in terms of bitcoin.

I feel that people look at the fiat value of it because most people get to own it by exchange fiat to get it. So it is normal that its prevailing value is compared to the amount of fiat that it can equate to. That's why too much volatility is not good for the coin.

[setialovers]

As a student of bitcoin and blockchain, I have learnt that the deployment of bitcoin as money was its flagship usage as proposed and implemented by Satoshi Nakamoto. I also do know that it has remained the most popular application of bitcoin in the industry today. But the question is, how well has bitcoin performed in its role as money, especially, as a medium of exchange, and as a store of value? I think bitcoin has not done well as a store of value and its usage as a medium of exchange is still yet to gain popularity among merchants and shoppers. What do you think?

I think right now bitcoin is store of value. Not many merchant accepting bitcoin as medium of exchange because many government not allow it. But as store of value, bitcoin in grey area and i think its like digital gold