Pamadar
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May 14, 2019, 01:24:30 PM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
Bitcoin cannot be considered with gold because of instability on the prices and it is not regulated by most of the governments so it will not be used as storage of value.Bitcoin is the first of its kind,its just revolutionary invesntion to make decentralized payment without any hidden costs and it also prone to inflation,but ist demand and supply will cause swing on the prices in future as well. The volatility makes it hard to consider as a good reserved, unlike gold where most government already recognized its value and even there's certain mobility it's not that much like how bitcoin did, the sway makes it different as it's give opportunities, maybe after some more years when every government accept this system and recognized it's worth.
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pushups44
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May 14, 2019, 02:13:06 PM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
The answer to this is obvious: yes. Since bitcoin is a mathematically founded protocol with a predictable rate of inflation and built-in scarcity, it acts as a store of value. Bitcoin is also more portable than gold and is more difficult for outside governments to confiscate or place sanctions on.
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TheUltraElite
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So anyway, I applied as a merit source :)
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May 14, 2019, 03:46:55 PM |
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The volatility makes it hard to consider as a good reserved, unlike gold where most government already recognized its value and even there's certain mobility Gold is also prone to market volatility and in fact the volatility of gold is much more than bitcoin. Bitcoins volatility is often time dependent - certain trends tend to push up the price like an positive feedback cycle and gold tend to vary between points in a known amplitude. There is a lot of difference between the two and they are not comparable in terms of government reserves. it's not that much like how bitcoin did, the sway makes it different as it's give opportunities, maybe after some more years when every government accept this system and recognized it's worth. You can keep that idea aside. Governments would rarely if ever accept crypto unless they are a failing economy like Venezuela. Rest of the countries dont even care about what happens with crypto unless some big institution in that country comes up with a demand.
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jrrsparkles
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Eloncoin.org - Mars, here we come!
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May 15, 2019, 08:42:03 AM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
Bitcoin cannot be considered with gold because of instability on the prices and it is not regulated by most of the governments so it will not be used as storage of value.Bitcoin is the first of its kind,its just revolutionary invesntion to make decentralized payment without any hidden costs and it also prone to inflation,but ist demand and supply will cause swing on the prices in future as well. But I think we can refer to it as a reserve if we take a look at what has happened to price since this month. Investors who have held their coin bought since January have had double on what they have. As for being a digital gold, I also think it is of that nature because it is digital and maybe can't just fit into physical gold and its stability at the moment. Nah,just because of it is giving profits doesn't mean it will be similar to gold and can be called as digital gold.When we want something to be used as storage of value then it should have same value always like gold but bitcoin has up and down and we still don't know how long it is going to stay here.
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VanDeinsberg12
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May 15, 2019, 09:17:35 AM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
Bitcoin cannot be considered with gold because of instability on the prices and it is not regulated by most of the governments so it will not be used as storage of value.Bitcoin is the first of its kind,its just revolutionary invesntion to make decentralized payment without any hidden costs and it also prone to inflation,but ist demand and supply will cause swing on the prices in future as well. The volatility makes it hard to consider as a good reserved, unlike gold where most government already recognized its value and even there's certain mobility it's not that much like how bitcoin did, the sway makes it different as it's give opportunities, maybe after some more years when every government accept this system and recognized it's worth. But when you are seeing bitcoin from its utility and that will better compared with the gold, did you know where gold gets its value? some people think the value of gold comes from its art and there was another guy that think the value of gold comes from elements that contained by the gold itself. Basically bitcoin contains the utility usage and that will be more valuable. The volatility just usual thing. it caused by bitcoin used its utility to create demand and supply to create value but that's not a big problem.
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d1ceplayer
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May 15, 2019, 10:43:33 AM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
Bitcoin has come to stay and in many decades to come, bitcoin will be used as store value or reserve after the adoption rate has become so high, by the time the adoption rate becomes high, it is expected that the price of bitcoin would have almost turned to a stable coin then because of its very low or no volatility in its market. That would be in the future though, but for now, I doubt if bitcoin is really good to serve as digital gold now, since we are still at its early developmental stage and the market volatility is still very high. So bitcoin serving as digital gold in future could really change the world.
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loopes
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May 15, 2019, 02:14:21 PM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
The answer to this is obvious: yes. Since bitcoin is a mathematically founded protocol with a predictable rate of inflation and built-in scarcity, it acts as a store of value. Bitcoin is also more portable than gold and is more difficult for outside governments to confiscate or place sanctions on. Although bitcoin is more portable than gold but gold still better than bitcoin. Both are very worthy. Bitcoin has many advantages that will help many people. It can become currency and asset at the same time, the value of it is tend to rise. Bitcoin theoritically is appropriate as a store of a value, it has limited amount, uncounterfeited, fast in term of transaction and many more but since there are many hoarders or what we call whales who influence it price in the market then for now it risk become bigger.
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shinharu10282016
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May 15, 2019, 10:31:14 PM |
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Bitcoin does indeed have a value reserve, but it is probably not what you might think. Over the course of bitcoin there has been repeated investment in 2 categories: - Infrastructure (computing equipment)
- Electricity (and operating costs)
In order to make a bitcoin it costs money and the combined investment over time has created a momentum. That investment in infrastructure and electricity is built into the price of bitcoin and always has been. No one makes something for less than what it can be sold for. Here is a picture covering the last 3 years of bitcoin's price over the infrastructure cost and the price floor (infrastructure cost + electricity cost). It is a realtime number that changes based on the hash rate and mining efficiency. Click on the link to see the image You can find out more about it here at my website if you like: https://www.amsinger.org/fundamental-methodHope I have helped! So its value reserve depends on the mining community? because as you said Infrastructure (the computing equipments) are the ASIC people use to mine it. and; Electricity which is certainly a big part of it. No one can create bitcoin without these two.
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eternalgloom
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May 16, 2019, 08:17:22 AM |
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Well, if it couldn't change the world, then we wouldn't have people like this trying to make Bitcoin illegal: https://cointelegraph.com/news/us-rep-sherman-calls-for-crypto-ban-says-it-threatens-to-diminish-american-powerAccording to him, Bitcoin is a threat to the US in a number of ways. Here's a quote from him (from the article above): Sherman concluded by claiming that the end result of cryptocurrencies would be not only to disempower U.S. foreign policy, but also the country’s tax collection and traditional law enforcement — and thus to utterly transform both the domestic and the global status quo.
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slaman29
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May 16, 2019, 09:37:14 AM |
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Although bitcoin is more portable than gold but gold still better than bitcoin. Both are very worthy. Bitcoin has many advantages that will help many people. It can become currency and asset at the same time, the value of it is tend to rise. Bitcoin theoritically is appropriate as a store of a value, it has limited amount, uncounterfeited, fast in term of transaction and many more but since there are many hoarders or what we call whales who influence it price in the market then for now it risk become bigger.
Bitcoin is not just more portable than gold, it's extremely more portable. In fact, I can't think of more extremes. I can carry Bitcoin inside my head if I wanted to (memorize my seed and restore any time I want) so it's like the most extreme comparison you could ever make. Speaking of counterfeit, we all thought it couldn't happen but BCH/BTG and whatever other fork all showed that even if people counterfeit Bitcoin, it still has value if enough people are tricked.
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RealMalatesta
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May 17, 2019, 09:52:04 AM |
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Because could bitcoin represents a value reserve or acts as a "digital gold", really could it change the world in a deterministic sense?
The answer to this is obvious: yes. Since bitcoin is a mathematically founded protocol with a predictable rate of inflation and built-in scarcity, it acts as a store of value. Bitcoin is also more portable than gold and is more difficult for outside governments to confiscate or place sanctions on. Although bitcoin is more portable than gold but gold still better than bitcoin. Both are very worthy. Bitcoin has many advantages that will help many people. It can become currency and asset at the same time, the value of it is tend to rise. Bitcoin theoritically is appropriate as a store of a value, it has limited amount, uncounterfeited, fast in term of transaction and many more but since there are many hoarders or what we call whales who influence it price in the market then for now it risk become bigger. When you said gold is still better than bitcoin, to me I expected you to list out all the reasons why you think gold is better than bitcoin, but after reading the remaining part of your comment, what you statement fully interpret to me is that Bitcoin benefits far outweighs that of gold which makes it better than gold. Bitcoin is just at its early stage for now, it’s just barely 10 years old, while gold is almost over a thousand years old now, and everyone knows that bitcoin is yet to fulfill that aspect of its benefits of having it as store of value because of its high volatility, but in future, bitcoin become far more better than gold when the rice becomes stable.
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add1ct3dd
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May 17, 2019, 10:12:41 AM |
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Well, if it couldn't change the world, then we wouldn't have people like this trying to make Bitcoin illegal: https://cointelegraph.com/news/us-rep-sherman-calls-for-crypto-ban-says-it-threatens-to-diminish-american-powerAccording to him, Bitcoin is a threat to the US in a number of ways. Here's a quote from him (from the article above): Sherman concluded by claiming that the end result of cryptocurrencies would be not only to disempower U.S. foreign policy, but also the country’s tax collection and traditional law enforcement — and thus to utterly transform both the domestic and the global status quo.
Bitcoin is just a threat to them because we see how bitcoin is doing it and overpowering in all over the world. We might conduct such things like not to fall for them, its fascinating how bitcoin doing it.
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el kaka22
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May 18, 2019, 09:16:58 AM |
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Wouldn't that be amazing? I mean think about countries having bitcoin reserves, even if the national money that you use loses its value the bitcoin reserves the nation has could be used to cover that expense and sell it, I know it is not that easy to do but in the end they could potentially could do it slowly and increase it a bit. For example the taxes they charge from the people who do bitcoin related stuff could be used to buy bitcoin or even charge bitcoin to those people and save it aside.
Bitcoin taxes are brand new thing and wouldn't be missed so if people do something related to crypto and have to pay taxes on it then governments should take it as crypto currency and put it on a governmental safe and lock it there until there is a nation wide Venezuela like inflation in which case it could be used to sell and recover the economy.
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bitgolden
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May 18, 2019, 09:57:36 AM |
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Well, if it couldn't change the world, then we wouldn't have people like this trying to make Bitcoin illegal: https://cointelegraph.com/news/us-rep-sherman-calls-for-crypto-ban-says-it-threatens-to-diminish-american-powerAccording to him, Bitcoin is a threat to the US in a number of ways. Here's a quote from him (from the article above): Sherman concluded by claiming that the end result of cryptocurrencies would be not only to disempower U.S. foreign policy, but also the country’s tax collection and traditional law enforcement — and thus to utterly transform both the domestic and the global status quo.
Bitcoin is just a threat to them because we see how bitcoin is doing it and overpowering in all over the world. We might conduct such things like not to fall for them, its fascinating how bitcoin doing it. Funny enough, the only power they have over bitcoin is to use media and news to create strong FUD news about bitcoin because there is nothing that U.S can really do to stop cryptocurrency, technology wise and even governmental wise. Cryptocurrency technology has made it impossible for them to know who the users of crypto are for them to prosecute them and some countries has already legalized bitcoin and using them as payment processor for their companies. SO if US want to stop their citizens from using crypto, then they might have to block their own access to internet permanently.
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kryptqnick
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May 18, 2019, 11:33:23 AM |
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What are we talking about here? An asset valuation reserve is capital required to be set aside in order to cover a company against unexpected debt. The asset valuation reserve serves as a backup for equity and credit losses. A reserve will have capital gains or losses credited or debited against the reserve account. Source : https://www.investopedia.com/terms/a/asset-valuation-reserve-avr.aspor 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. More generally, a store of value is anything that retains purchasing power into the future. Source : https://en.wikipedia.org/wiki/Store_of_valueI do not know if you have your description 100% correct for the question you are asking. I believe the op is talking about the store of value, since the text refers to gold for comparison. I think that it is actually the mist realistic scenario for Bitcoin. Yeah, sure, we want it to be digital money. But the fees and the speed really make it not very suitable for the role, except for the cases of rare expensive purchases. Bitcoin seems to be great for long-term investments, so this will probably become its dominant purpose in the future, if it is not so already.
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yusupjatigumilar
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May 18, 2019, 11:36:32 AM |
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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.
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snipie
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May 18, 2019, 11:41:50 AM |
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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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neonshium
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May 18, 2019, 12:37:12 PM |
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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.
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otong
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May 18, 2019, 06:51:03 PM |
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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
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Shenzou
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May 18, 2019, 07:08:46 PM |
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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.
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