Bitcoin: "Maybe Is a Partial Store of Value"

[Eugenar]

Bitcoin is not s store of value,its just medium of exchange.

The value of bitcoin keeps increasing so it maybe partially considered as storage of value too.

You just contradicted your idea in the first place. Bitcoin is surely a store of value as we cannot think of any idea how we can implement it to small scale market transaction and commerce. If ever we need to to save money, bitcoin is the number one option for me, but not in terms of daily transactions since I find bitcoins transaction fee so high and it has an unstable market price.

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[BartS]

Next stop would be "bitcoin could be awesome but I still think it will go down to zero" or something, how could you still believe that something will go down to zero when you believe it has a partial store of value? I mean if it can store value that means it can't go down. It is like saying "this is a rare painting of van gogh, there is no other one like it, it is very valuable and whoever buys it could store it and sell it for a lot higher in the future, I think it will worth zero one day".

Do you realize how idiotic that sounded? Like really, HOW idiotic that sounds, well this dude sounds as moronic as that sentence if not more. Bitcoin is a digital commodity that has a store of value and a way of spending it as well that rivals anything ever in history of mankind and can't go down that much.

They never had any arguments about why something like bitcoin should not be incredibly valuable but now they are really desperate to try to find anything they can say to try to say bitcoin will not maintain its value.

They tried in the past to use the stability of fiat as a sign that it was better but since then inflation is making sure we notice that stability is for nothing if our purchasing power is going down while we see the opposite process happening with bitcoin.

[qwertyup23]

<snip...>

The value of bitcoin is determined by the people who are willing to purchase it at a given price. Due to this scenario, the law of demand/supply dictates its price on the market given that it only has a limited supply of 21 million (which by the year 2140, all bitcoins will be mined out).

If you based the price depending on its history, you can see that its price continuously increases/decreases depending on external and internal factors. While some claim that Bitcoin is a whole bubble, others see it as an alternative method for investment. But one thing has not changed, the price still continues to rise.

I would say that holding bitcoin can be a good store-of-value especially if you consider the long-term aspect of its potential and applicability in the future. Not to mention, we are only experiencing and enjoying its face-value and we have yet to see the blockchain be implemented in our transactions.

[TheUltraElite]

They never had any arguments about why something like bitcoin should not be incredibly valuable but now they are really desperate to try to find anything they can say to try to say bitcoin will not maintain its value.

So you can see how flawed and baseless their arguments are and it does not take long for the long timers to understand what these people are trying to stir and thus become immune to such "opinions". People can opine what they want. Does not matter to you if your belief and faith are in the right place.

They tried in the past to use the stability of fiat as a sign that it was better but since then inflation is making sure we notice that stability is for nothing if our purchasing power is going down while we see the opposite process happening with bitcoin.

Stability of fiat vs bitcoin is more of a cognitive bias. You dont say any market to be stable. Every market is moving and is potentially volatile. But the newbies who are entering the market easily get swayed unless they have a background of trading and market psychology.

[Vishnu.Reang]

It is all relative. If I am living in a country such as Venezuela or Zimbabwe, then I would use Bitcoin as a store of value. Because I know that BTC is more stable when compared to either the Zimbabwean Dollar or the Venezuelan Bolivar. But that is not the case if I am a resident of some other country, such as the United States or the United Kingdom.