agentx44
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December 10, 2019, 07:38:40 PM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameThis kind of changes with the store value of a certain currency happens when the country's economy is unstable wherein inflations can be greatly observed since they have no choice but to do that to cope up with their falling economic status. There are instances wherein an event causes the store value to fall down and it can't be avoided with currency like fiat. Cryptocurrency is clearly a decentralized one, its store value doesn't change that much no matter what is happening making it a better currency that what most of the countries in the world have.
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teosanru
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December 10, 2019, 08:10:49 PM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameActually you are right the traditional money is not at all a store of value because the value that it stores doesn't remains consistent but actually what the makers meant by "store of value" was that it would retain it's value in absolute terms not in terms of purchasing power parity. It means a dollar 1 bill would remain dollar 1 bill in 50 years but it never meant what you could buy with this $1 50 years from today. I think you are a bit mistaken here.
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btcmurat
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December 10, 2019, 08:38:29 PM |
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States should invest in bitcoin to keep their economies strong. I'm not surprised. I don't think states that can't get bitcoins are managing their economies right. Bitcoin is a value storage tool. They do not have to officially announce that they have received Bitcoin. But they need to take precautions.
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cutesgirl
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December 14, 2019, 01:39:54 AM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameActually you are right the traditional money is not at all a store of value because the value that it stores doesn't remains consistent but actually what the makers meant by "store of value" was that it would retain it's value in absolute terms not in terms of purchasing power parity. It means a dollar 1 bill would remain dollar 1 bill in 50 years but it never meant what you could buy with this $1 50 years from today. I think you are a bit mistaken here. Almost all local currency always have lower value every year although with USD, last year you can buy one pack candies with $1 maybe next year you have added $2 to buy one pack candies, its called with inflation with local currency and bitcoin can increase your saving value and keep profitable if you want make bitcoin as currency digital payment and you can get much profit every time.
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Getmon
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December 14, 2019, 01:52:19 AM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameFiat currencies could never be considered store of value because their value is decreasing. If someone will hide a big amount of fiat under the ground to make sure he has something to spend after a decade or so, he will most probably have so little to buy with that same amount by the time he digs it up. The problem with fiat is that it is not valuable in itself unlike gold or even Bitcoin to a certain extent. Fiat is just a piece of paper without value.
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MEGA |
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piebeyb
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December 14, 2019, 09:24:28 AM |
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where there is gold, there will be banknotes that will be printed according to the value of gold, but even though there is no gold, paper money continues to be printed, whether that way will continue to have value, I think not, in my country more and more prices are rising and not according to income, a small example if in the past 10 years ago I could buy a lot with $ 100 now it might be a lot less, but it's different from bitcoin and crypto currencies if we compare the values from 10 years ago until now, I want to see the failure of banks and countries who went bankrupt for defending a financial system like this that should have been replaced by something new, who knows what? I'm not saying bitcoin and cryptocurrency, but let time be the answer ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I think the answer here why there are still money being printed all around the world is because we all have a government running our country and this is there basis as a legal tender. Whether or not they are valuable solely depends on the country's economical performance and even though they technically lose value because of inflation still this is considered to be a sign of demand rather than a bad thing it is actually a sign of growth in a country. Because not all kinds of inflation are bad as there is an acceptable rate and there are the ones that aren't. What you are also asking for is really not a good idea as well, why would you wish something like that when a lot of lives are at risk? not this idea came from me but from who was the inventor of bitcoin itself, why was bitcoin launched in 2009 a year after a troubled economy in several countries in 2008, so what is the purpose of bitcoin itself, I don't want to say just speculate bitcoin is presented for what and replace what? who are the people who made the price of bitcoin rise and how much drama was made to make it look like bitcoin didn't come from a government idea, I can't say much just invite you to see what happens after 2020, cheers
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Zackgeno96
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December 14, 2019, 12:55:26 PM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameCurrencies are no more a store of value, in the past the national currencies were tied with the amount of gold that was present in the national gold reserves but as the demand increased then the currency was made only as a promise that the government will pay the bearer. That's why crypto is much better than using currencies as its value also increase and it is a good piece of investment for millenials as they truly understand what innovation and also accepts the new changes very well.
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ChrisPop
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December 14, 2019, 01:42:43 PM |
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Fiat currencies are simply for doing day-to-day transactions. I don't recommend anyone to hold cash in their non-interest bank accounts or under the mattress as they say for more than 1 year unless they are savings for bad days aka unforeseen events. Of course that this is not financial advice, I am NOT a financial advisor. Gold, silver and precious metals have passed the test of time regarding their store-of-value function, but the question is if they will lose value in front of Bitcoin which seems to be the new era money.
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adzino
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December 14, 2019, 01:46:39 PM |
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Yeah, for now crypto currencies can be used as a store of value. In fact it is actually a perfect thing to store for value. The coins will be all yours. No one, not even the government will be able to confiscate your coins. Thus, they will be safe with you forever (as long as only you have access to your wallet). We still need to improve a lot on this field in order to make it a currency that can be used on regular basis to make our day to day transaction.
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Amel
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December 14, 2019, 01:51:44 PM |
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In general, any currency should fulfill the function of storing value, another thing is that they perform this function in different ways, depending on many factors. Paper money of states periodically and gradually lose their value due to inevitable inflation. A decentralized cryptocurrency can hardly be attributed to good value storages due to its very high price volatility. And it seems that she will always have high volatility.
Well, that's normal tho. Inflation of market when it come to centralized and ATH in the world of crypto seems ideal for me already. Some of you might say that word "ideal" is too much, okay fair enough, I say so because in reality it's very rare to see such conditions ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) . I guess the best thing we could do is to pray for the best and get used to it at the same time — less expectations, less hurt. If you will ask me to choose one, I would probably choose the high volatilty. At least you still got chance of sudden price spike compare to slow but constant inflation. I understand that, but don't just focus on the chance of a surge that will occur but also see the opportunity for a decline that will occur, it could be worse than inflation that occurred. From what I understand, actually both have their own advantages and disadvantages, depending on how we like, whether high volatility or low volatility. And also the government will certainly not agree with currencies with high volatility.
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Betwrong
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December 14, 2019, 03:47:57 PM |
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In general, any currency should fulfill the function of storing value, another thing is that they perform this function in different ways, depending on many factors. Paper money of states periodically and gradually lose their value due to inevitable inflation. A decentralized cryptocurrency can hardly be attributed to good value storages due to its very high price volatility. And it seems that she will always have high volatility.
Still, high volatility is better than constant decreasing. There is a way of dealing with volatility, actually. First you should set a goal such as "Two years later I want to buy the same amount of goods and services for my Egyptian Pound as I can today". Then, after two years have passed, wait for the moment when your goal is reached and cash out immediately. There is a big chance that with many weak currencies you will be successful acting this way.
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BITCOIN TO THE MOON ☾ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿
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Dart18
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December 14, 2019, 03:54:23 PM |
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Good, we dont really need that. We could say it is already history that we should never go back into. It is too bad to remember.
Yes, fiat is just the same as commodities. But it needs to be done to make the trade easier than it was before. Examples are buying potatoes in exchange for a cow since you dont have anything but just cows. Unfair right? So they created something that will equal the trade. Money. Same thing as gold before. Looks to melike you know history so I would not explain it anymore.
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tenakha
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December 14, 2019, 10:56:25 PM |
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Fiat currencies could never be considered store of value because their value is decreasing. If someone will hide a big amount of fiat under the ground to make sure he has something to spend after a decade or so, he will most probably have so little to buy with that same amount by the time he digs it up. The problem with fiat is that it is not valuable in itself unlike gold or even Bitcoin to a certain extent. Fiat is just a piece of paper without value.
Gold is just a metal, and BTC is just a cryptocurrency whose value is currently calculated in USD. Nothing in the world spontaneously gains value, we are the ones who value it. In terms of value store, the better side of BTC than USD is that it is limited, as a updated money. Otherwise, a method of payment that is self valued in the world and fully meets the value of each valuable asset has not yet been discovered. Actually, when we think we are the ones who value everything, I do not know how we will be able to get such a payment method.
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batang_bitcoin
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December 14, 2019, 11:40:16 PM |
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Bitcoin is another kind of currency which doesn't have a stagnant value unlike $1 it would always be $1 and with inflation that value goes down. With the character bitcoin has, you can check the history of it and assess if it's a good store of value. Before 1 bitcoin was equals to less than $1 but now 1 bitcoin is equals to more than that. So, what do you think? with that simple comparison. Can you tell if bitcoin is a good store of value?
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Rent this sig space so that BTC goes to $100k.
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Getmon
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December 15, 2019, 02:27:05 AM |
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Fiat currencies could never be considered store of value because their value is decreasing. If someone will hide a big amount of fiat under the ground to make sure he has something to spend after a decade or so, he will most probably have so little to buy with that same amount by the time he digs it up. The problem with fiat is that it is not valuable in itself unlike gold or even Bitcoin to a certain extent. Fiat is just a piece of paper without value.
Gold is just a metal, and BTC is just a cryptocurrency whose value is currently calculated in USD. Nothing in the world spontaneously gains value, we are the ones who value it. In terms of value store, the better side of BTC than USD is that it is limited, as a updated money. Otherwise, a method of payment that is self valued in the world and fully meets the value of each valuable asset has not yet been discovered. Actually, when we think we are the ones who value everything, I do not know how we will be able to get such a payment method. I don't know if we can consider gold as just a metal. There is no other metal that shines like gold. Metals are quite common, we use them to build houses, create coins, make spoons and knives and forks, and so on but they are the most common metals. Easily accessed thus cheap. Gold is not like them. It is very limited and does not rust and shines really bright. And this is perhaps the beginning of the value of gold. It is just different. And it will always be valuable in the years to come.
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MEGA |
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BartS
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December 15, 2019, 03:03:45 AM |
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Hi i'm monolica คาสิโนA quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it. Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war." sagameOne of the most basic characteristics of money is that it should be a store of value, and the reason for this is really simple, if your income exceeds your expenses then you will have savings and at some point in the future you will want to use that money to buy something that you need or that you want. So you want your money to be a store of value because that way even if time passes you can still buy in the future with that money what you can buy right now, but as fiat currencies can be printed in any amount that the government wants then they are a terrible store of value.
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Sithara007
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December 15, 2019, 03:08:24 AM |
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Almost all local currency always have lower value every year although with USD, last year you can buy one pack candies with $1 maybe next year you have added $2 to buy one pack candies, its called with inflation with local currency and bitcoin can increase your saving value and keep profitable if you want make bitcoin as currency digital payment and you can get much profit every time.
Inflation is within the tolerable limit now, even in the developing nations. For example, in India we used to have inflation rate up to 14% a few years back. But now this rate has got reduced to around 4%. This has made the usage of fiat currency as a store of value possible. At 4% per year inflation, the purchasing power of the currency will get reduced by 33% when compared to 73% in the earlier scenario. Now 33% is not a very good amount, but it is still tolerable in my opinion.
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AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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Betwrong
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December 21, 2019, 11:04:35 AM |
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Bitcoin is another kind of currency which doesn't have a stagnant value unlike $1 it would always be $1 and with inflation that value goes down. With the character bitcoin has, you can check the history of it and assess if it's a good store of value. Before 1 bitcoin was equals to less than $1 but now 1 bitcoin is equals to more than that. So, what do you think? with that simple comparison. Can you tell if bitcoin is a good store of value?
Yep, with the exception of two or three short periods of time, Bitcoin has been one of the best stores of value for the past 10 years. Few people realize that investing in Bitcoin was a much wiser decision than investing in Apple or Netflix 10 years ago. When saying "few people" I mean the world, not this forum, of course. As of today, I prefer to stay optimistic regarding the future Bitcoin adoption. And wider adoption means higher demand, which, in turn, means higher price.
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BITCOIN TO THE MOON ☾ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿
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deisik
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December 22, 2019, 05:34:06 AM |
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Bitcoin is another kind of currency which doesn't have a stagnant value unlike $1 it would always be $1 and with inflation that value goes down. With the character bitcoin has, you can check the history of it and assess if it's a good store of value. Before 1 bitcoin was equals to less than $1 but now 1 bitcoin is equals to more than that. So, what do you think? with that simple comparison. Can you tell if bitcoin is a good store of value?
Yep, with the exception of two or three short periods of time, Bitcoin has been one of the best stores of value for the past 10 years. Few people realize that investing in Bitcoin was a much wiser decision than investing in Apple or Netflix 10 years ago. When saying "few people" I mean the world, not this forum, of course What you are referring to here is correctly called an investment asset, not a store of value Bitcoin has been able to grow like many thousand times but that only makes, or rather made it, an excellent investment choice provided you invested in it early (as its future is uncertain with respect to its price). But quite a few startups in different fields were able to gain as much or comparable. Does that make them a good store of value? I don't think so It feels like a good investment doesn't necessarily make a good store of value, and the reverse seems to hold true as well. For example, gold is a goddamn good store of value proven in ages, but for the last 40 years or so it was a poor choice as an investment vehicle since it has been unable even to beat the US dollar inflation
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Betwrong
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December 23, 2019, 09:19:04 AM |
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Bitcoin is another kind of currency which doesn't have a stagnant value unlike $1 it would always be $1 and with inflation that value goes down. With the character bitcoin has, you can check the history of it and assess if it's a good store of value. Before 1 bitcoin was equals to less than $1 but now 1 bitcoin is equals to more than that. So, what do you think? with that simple comparison. Can you tell if bitcoin is a good store of value?
Yep, with the exception of two or three short periods of time, Bitcoin has been one of the best stores of value for the past 10 years. Few people realize that investing in Bitcoin was a much wiser decision than investing in Apple or Netflix 10 years ago. When saying "few people" I mean the world, not this forum, of course What you are referring to here is correctly called an investment asset, not a store of valueBitcoin has been able to grow like many thousand times but that only makes, or rather made it, an excellent investment choice provided you invested in it early (as its future is uncertain with respect to its price). But quite a few startups in different fields were able to gain as much or comparable. Does that make them a good store of value? I don't think so It feels like a good investment doesn't necessarily make a good store of value, and the reverse seems to hold true as well. For example, gold is a goddamn good store of value proven in ages, but for the last 40 years or so it was a poor choice as an investment vehicle since it has been unable even to beat the US dollar inflation Thanks for the correction! It nudged me to do some research, and now I see that, formally, there is a difference between what's called a good investment asset and a store of value. A speculative asset, such as Bitcoin today, for instance, can't be called a store of value because it lacks stability. But what I also found out during my research is that there are two conflicting theories in regards to what causes the demand for money. One of them, the Cambridge cash-balance theory, saying that "money's ability to store value is more important than its function as a medium of exchange". And another one, Fisher's theory, saying that "demand arises because money is needed for exchange". I think it's interesting to note that currently the demand for Bitcoin is mostly formed by people's treating it as a "store of value"(although formally BTC isn't one). But I think in the future the demand for BTC will be formed by people's willingness to use it for exchange.
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BITCOIN TO THE MOON ☾ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿
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