Can we agree BTC is not a store of value?

[thirdprize]

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value.  It has been a few years since $20K and even now, each peak is smaller than the previous peak.  Probably be $3K by the end of the week.

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[Yogee]

We can never agree on that because each individual investor have their own narrative. By the way, this topic is related to this https://bitcointalk.org/index.php?topic=5232642.0

[o_e_l_e_o]

Nothing is a store of value at the moment. Global markets are down, gold, silver, copper and platinum are down, oil and gasoline are down, corn, wheat, cocoa, and coffee are down, futures are down, FTSE, CAC, DAX, IBEX, Hang Seng, Nikkei, Shanghai, RTS, ASX are all down. The only reason NASDAQ/Dow Jones/S&P have stabilized a bit today is because the government have cut interest rates yet again, now down to 0%, and announced yet another round of quantitative easing (although did the last round ever actually finish with all those "overnight" repos?) to the tune of $700 billion, with much more likely to come.

Everything is decimated at the moment, but the Fed have moved too early and are now out of ammo. They have nowhere to go from here other than printing even more money even faster than they already are, or negative interest rates, which will be a disaster for them. When fiat is rapidly devaluing because the Fed are injecting trillions in to the system, and you have to start paying your banks for the privilege of them holding your money, where do you think people might turn? This is only just beginning.

[joinfree]

Bitcoin is not a good store of value because the very people who claim to be supporting it are full of doubts about its future anytime its price drops. We need to learn how to trust the volatile system and also learn how to hodl during these times but in reality you can tell what people should do with their money so it ends up being dumped on the market. That's exactly what we are seeing at the moment with all the panic selling which is crushing the price of bitcoin.

[Broly46]

Not even gold is store of value in this climate, I’m watching at everything getting dumped and that’s absolutely out of this world, no logic behind what’s all the number ticking, but don’t be fooled, everything would adjusted to normal over the time amounting to weeks, months or even years, nobody can manipulate the true value of any asset forever.

[travwill]

I don’t think that we will reach $ 3000 again. In any case, if this happens, it will be the lowest mark, because the last time we were on it for a long time, and did not go down.
I believe we will stop at $ 4000 and will be on them until the crisis ends.

[mu_enrico]

If Bitcoin can be mainstream P2P cash, I would say NOT YET*. However, if it still used as a speculative asset, similar to stocks and metals, it will follow thereof price movements.

*No cash/assets can be 100% store of value in an extreme situation since the price is relative. Read about the diamond and water paradox, about how a glass of water can be more valuable than a diamond when you desperately need to drink. That said, when there is a world war or similar crisis, basic needs will be more expensive than anything.

[gentlemand]

One day it has the potential to be that one day. All the necessary elements are present.

As for the present fuck nooooo.

It's a toy, a bet and a plaything to obtain more dollars in the minds of most. I'm not sure who'll be left if most of those people clear off but they'll be back just as quickly if it's looking sunny.

[South Park]

Listen to this podcast.
https://unconfirmed.libsyn.com/coronavirus-how-it-will-impact-bitcoin-and-the-halving-ep116
However much you want it to be, BTC is NOT a store of value.  It has been a few years since $20K and even now, each peak is smaller than the previous peak.  Probably be $3K by the end of the week.

Bitcoin was not designed to be a store of value under the present circumstances, however I can assure you that in the case we go through an hyperinflation bitcoin together with gold will be one of the few assets that will outpace or at least keep up with the rate of inflation making it a store of value, and it seems that day is getting closer as Central Banks are really running out of options and the only weapon they have left to try to stabilize the situation is to print more money.

[Gozie51]

From the beginning and during the bull, bitcoin has not been considered as store of value for many. The criticism of this is because of its rate of increase and decrease. Just as the present, the price have kept falling and not having a stop because no indices or policy on it to cause a stop.

[johnyj]

Of course it is, still worth more than 160 barrel of brent oil per coin

If people can get rid of the habit of using fiat money to measure value of other things, then it is easier to see the truth

[Stedsm]

What I understand is: Look at this situation in an extremely different manner. Think of this as an opportunity.

Fear is what it takes for such situations to arise, just think, why the markets are dooming ATM? Think for a moment, if I were you, I'd definitely take a big advantage of this rampant situation and go all in over everything, from Gold to Stocks, from Alts to BTC. Just think that when the dust settles, what will you be with. You'll turn a penny into a pound with just minimum patience (considering that you don't encounter with this disease). And for everyone's information (real info and not-so-fake one that you're hearing through media), go find out cases which died through Coronavirus, you'll see that people above 50 and mostly >60 have died due to this and all the severe cases have around 85% of old aged people only, so this is not going to affect those with better immunity systems if - Either diagnosed at right time or - have taken correct measures like handwashing for 20 seconds every 3 hours, using a mask if necessary, use a tissue paper to cover the mouth while sneezing.

[Twentyonepaylots]

One day it has the potential to be that one day. All the necessary elements are present.

As for the present fuck nooooo.

I can't get it no, are you guys only sees bitcoin if the price is above $10K? a store of value when high and not when it is low?

It's a toy, a bet and a plaything to obtain more dollars in the minds of most. I'm not sure who'll be left if most of those people clear off but they'll be back just as quickly if it's looking sunny.

Okay I see, you guys are just making bitcoin a playable investment as most of the people in here but wouldn't it not be too obvious if you call it not a store of value as of the moment because of the its current state? That is why it is called cryptocurrency , a currency in it, wasn't made for investment but it became when the volatility over take. Hope the crisis ends.

[Febo]

Can we agree BTC is not a store of value?

Of course is not if on average change value for few % every day. It will take many many years before Bitcoin will become stable currency to be store of value.

[Broly46]

Of course the real store of value is nothing other than you as a men.

Property price soar to the record high and women can just scream “racist” and dozen of men will line up willingly to obligated and provide free housing to the women, but what can men do when facing such discrimination and they have to work their ass out of this hardship to get to what women can get with just crying “discriminate”, men has to work so many productive hours to afford a house that is flipped to the moon, that’s crying out loud but nobody will give a damn when you’re men.

I also despise the facts that women had it easy when it came to sex and relationships. Whereas women could sleep around easily, I would even feel jealous of their multiple sexcapades at such a young age, and they never had to improve themselves to enjoy the perks of a rich dating life. So basically I had to go through years of unprogramming, unlearning, studying game, learning escalation, working out, build muscle, eating right, facing countless rejection etc, just to get to where they already were all their lives.

[desertfox470]

I think everything is just going down atm, and although btc has been down for quite a while I think that the current drop cannot be attributed to bitcoin by itself. Rather just the economy as a whole has taken a toll and bitcoin is included in the mess. I think bitcoin is an innovation in thinking and business rather than storing someones value.

[Kemarit]

The whole narrative Bitcoin is a store of value has change because of the corona pandemic. We haven't seen this before, and we really don't know how to react. Even the traditional global markets is also reacting negatively isn't it? So currently, with the obvious dump, I would say yes, it could not be considered as a store of value. But nevertheless, in the future, when we have this kind of crisis again, maybe the whole context will change.

[gentlemand]

The whole narrative Bitcoin is a store of value has change because of the corona pandemic. We haven't seen this before, and we really don't know how to react. Even the traditional global markets is also reacting negatively isn't it? So currently, with the obvious dump, I would say yes, it could not be considered as a store of value. But nevertheless, in the future, when we have this kind of crisis again, maybe the whole context will change.

If Bitcoin was 100 years old and this was the first time it had happened then I think people would be more justified in feeling a little surprised. Since it didn't even exist the last time the world creamed its knickers I have little sympathy for anyone who's profoundly shocked by this.

[dnprock]

Long-term, Bitcoin is a Store of Value.

Short-term, Bitcoin is a speculative asset.

By long-term, I mean the time horizon is 5-10 years (more than 1 halving). This is my current thesis. We can divide Bitcoin owners into two groups: long-term hodlers and short-term traders. The groups are somewhat fluid. Some hodlers switch to trading. Some traders switch to holding.

Bitcoin's price movement is mostly controlled by traders in the short-term. But in the long-term, hodlers will ultimately decide the price movement. Bitcoin price long-term has been up. That suggests a growing number of hodlers. Data also suggests growing hodlers.

People will move their money around. Know your long-term timeline. Ignore short-term price movement.

[johnyj]

I think everything is just going down atm, and although btc has been down for quite a while I think that the current drop cannot be attributed to bitcoin by itself. Rather just the economy as a whole has taken a toll and bitcoin is included in the mess. I think bitcoin is an innovation in thinking and business rather than storing someones value.

Nothing is going down, just fiat money suddenly get a pump. Value is all relative, when EUR/USD exchange rate crashed, you can't say if it is EURO get cheaper or USD get more expensive

The real problem is that people use fiat money to count value, thus fiat money automatically become the stable store of value without government doing anything. Once this mindset is changed, things will be interesting, but so far, almost no one have the ability to understand this