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Author Topic: Is Bitcoin the best reserve asset?  (Read 483 times)
overttherainbow
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November 03, 2020, 08:22:59 AM
 #21

Bitcoin is too unstable to be used as reserve asset
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November 03, 2020, 09:32:16 AM
 #22

Bitcoin is too unstable to be used as reserve asset

Prices have been fairly stable in the last years in bitcoins. The volatility isn't higher than in some previous metal markets, prices on commodities are fluctuating too with the general market sentiment. Bitcoins might not be the best reserve asset but it's definitely one. There are even companies now who use bitcoins as reserve asset.
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November 03, 2020, 09:52:06 AM
 #23

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An excellent way to evaluate any investment is to take $100 million and move it forward a hundred years and ask the question what happens. If I had $100 million worth of currency in any of the largest cities of the world in the year 1900, and I went forward for 100 years, and I put the money into the best bank in the city, I have two types of risks; counterparty risks and inflation risk. Regarding counterparty risk, every major bank in every major city around the world failed in 100 years. And that is a 90% probability you lose everything

How is this an excellent method, if few people even live to 100 years. And it's not true that in 100 years your fiat investment will be worthless, take Nobel prize fund as an example - adjusted for inflation, it still pays as much money as 120 years ago, and all this time it was entirely self-sufficient.

Bitcoin hasn't even existed for 100 years, no one knows if it will exist for that long, saying that it's safer than precious metals and other mainstream investments is just delusional.
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November 03, 2020, 11:11:32 AM
 #24

Bitcoin is too unstable to be used as reserve asset
This would depend on what metric you're looking at; Bitcoin's supply is the most stable of all the other asset classes which are used as reserve currencies, it is immune to supply shocks and fiscal policies are not implemented to adjust to changes in economics conditions. The protocol of Bitcoin would likely be the same 10 or 50 years from now.

You're are probably analysing volatility in the market price, Bitcoin is highly speculative with regular price fluctuations, but it is a decade old currency with lots of time to adapt and evolve to suit various markets. This volatility does not make it very suitable as a reserve asset now especially if the company is looking for stability; so those companies adopting it now are probably being forward thinking to get ahead of the curve (the value is generally appreciating, so in a couple of years it would likely be higher than it is now when compared with fiat or gold).

Also, you cannot only focus on one quality and use that to qualify an asset. Bitcoin has other unique attributes that makes it stand out and which are useful in a reserve currency.

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November 03, 2020, 11:49:10 AM
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 #25

Is bitcoin the best reserve currency/asset globally? Yes; Is Bitcoin an investment? Not really; Right from my involvement in bitcoin back in 2017 I had stayed true to the original vision of satoshi considering bitcoin as a global currency without the intervention of any third parties like banks. Fiat currencies follow inflation pattern where our money doesn't have more purchasing power in the future! A person can buy a comic at the average selling price of 10 cents at the beginning of 1960s but the same comic book sells for around $3 in 20th century. This example is more than enough to prove that fiat currencies has lesser buying power over the time frame i.e they are inflationary and we need to spend more to receive anything in return.

Whereas on the other hand, Bitcoin has more purchasing power i.e they are deflationary and all you need to spend is just handful of satoshis in future to buy a PC itself. This will be favorable to the government and central banks when they try to buy goods/products from other countries using their reserve currency (btc) in future. They can be doing a smart investment choice to buy bitcoin when they are lesser in price and use them whenever necessary over the time period. This doesn't mean that a common citizen should hold their bitcoin like a reserve asset! You should spend as and when you have the need and should be saving the rest.

If a bitcoin isn't spent like a currency what's the purpose of itself over the years? Just to be present as mere numbers in our wallet? Gold or other precious metals are physical items which can be used for multiple purposes other than just investments alone. If Lazlo didn't end up in paying 10k btc back at the start of the decade, what was the purpose of invention of bitcoin? Are developers wasting their time in trying to scale the network in the name of Segwit or other advancements? Is the introduction of lightning network a joke? Why should we process 1 million transactions if no one is willing to spend their bitcoin?
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November 03, 2020, 02:54:10 PM
 #26

Using of world 'best' is half wrong when are talking about assets, Depending on yourself and how much risk you can take in your life, bitcoin cab be good choose. But in the other hand, you are looking for a long-term and stable investment, bitcoin can't be good choose for you. Better to not call it best reserve asset for now because bitcoin is still young and have a little market small marketcap comparing to other similar assets. But maybe soon, in just a few years, bitcoin can be the best and life saving reserve asset, All I'm saying is bitcoin is not even is the middle of the road and there is a long way to go for it.

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November 03, 2020, 03:19:03 PM
 #27

I can’t tell for sure. Other things you have mentioned here have stayed more than hundred years, but Bitcoin only have been around for a decade.

So, how sure are we about what’s going to happening in the next hundred years?

That’s why diversification is always very important, if you decide to put your eggs in one basket, you might be disappointed, but when they are stored differently, if one happens to have a problem you’re not going to be regretting it as there would be other means to recover from the loss. So, maybe Bitcoin shouldn’t be our only option.

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November 03, 2020, 03:56:09 PM
 #28

Using of world 'best' is half wrong when are talking about assets, Depending on yourself and how much risk you can take in your life, bitcoin cab be good choose. But in the other hand, you are looking for a long-term and stable investment, bitcoin can't be good choose for you. Better to not call it best reserve asset for now because bitcoin is still young and have a little market small marketcap comparing to other similar assets. But maybe soon, in just a few years, bitcoin can be the best and life saving reserve asset, All I'm saying is bitcoin is not even is the middle of the road and there is a long way to go for it.
It may not really considered as reserve asset since there is a need for it to be backed as well to be readily available to consider as asset. But its in fact a good investment or used as a substitute in our fiat in terms of using it in doing payment transactions. The best thing about bitcoin is we will have a chance to take advantage of it as investment at it's early stage since there is still a lot of room for it for adoption,those who have it early can take advantage of future benefits it can give.

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November 03, 2020, 09:32:59 PM
 #29

Here Are the Top Public Companies That Have Adopted Bitcoin as a Reserve Asset - source https://news.bitcoin.com/here-are-the-top-public-companies-that-have-adopted-bitcoin-as-a-reserve-asset/

I already wrote about this in some other topics! As you see some big companies are adopting bitcoin as reserve asset! I can only say this is just the beginning, many more will join, and it's the trend for the next few years! It's like now or never, but with bitcoin is a bit different, it's like buy low now or wait and buy for much higher prices! If people are not convicted by now that next year will be amazing for all of us, I don't know what else you need to convice you!

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November 04, 2020, 08:29:43 AM
 #30

From what I understand it is like "We have some investments, we have some expenses and there is this cash laying around somewhere that we are not using right now, it is going to be used eventually when we find something proper to invest into, but until we find a place to spend this, it is going to just idle and stay here" and that is what reserve asset is. It is like a bench player from sports games, maybe it will get in, maybe it won't.

Bitcoin is definitely the BEST on these occasions, if you are not using that money right now, best way to keep it is bitcoin because price always goes up, if you end up profiting while keeping your money unused that is even better for you isn't it? However I think bitcoin could also be investment directly instead of being just a reserve.

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November 04, 2020, 10:10:21 AM
 #31

This investment reflects our belief that bitcoin is a reliable store of value and an attractive investment asset with more long term appreciation potential than holding cash, as the worlds most widely adopted cryptocurrency. Bitcoin has emerged as a significant addition to the global financial system since its inception over a decade ago, with characteristics that are useful to both individuals and institutions. Bitcoins has been recognized by MicroStrategy as a legitimate investment asset that can be superior to cash, and has therefore made bitcoin the main holding in its treasury reserve strategy.
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November 04, 2020, 11:19:33 AM
 #32

I think it really depends on someone’s perspective. For some, the best reserve asset is gold, real estate properties to few, and bitcoin to others. I think there’s no exactly the best reserve asset to mention as it is subjective matter.

Gold’s price increase over time, hence making it a good kind of investment. Like what they say, you can never go wrong in investing with gold, may it be jewelries or gold bars in general. But gold can be stolen away. This is the risk that comes along in investing in gold. In real estate properties, the price vary depending on situations. There are times that the selling price of real estates were downhill because of some reasons such as the area became a bad location because it became calamity prone as time pass by.  Another thing is that some real estates require maintenance. While in bitcoin, it doesn’t differ that much to the two mentioned. Its price varies depending over time as well. The value relies on what season it is. This is a great investment as it can reach its peak price, however risky as well because it might drop anytime too.

The things aforementioned were great investments. The prices of these can increase or decrease as time pass by. There’s no constant thing after all. What i can say to those planning to invest for future use is to diversify. Never put all your eggs in one basket. You can never be so sure what the future holds. It’s better to invest in different assets that you trust and you are confident with, so that when one of it fails, you still have something as a back up.
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November 04, 2020, 12:52:33 PM
 #33

The rate at which institutional investors stacked up BITCOIN is increasing yearly, it's has been a safe haven compare to traditional assets. At a time, they were against the use of Bitcoin because of volatility but we all seen how volatile Gold and others were during their recovery when Feds Reserve were massively printing dollar bills with zero interest rate without considering inflation.
There is this unique feature that is inherently in bitcoin, its ability to quickly recover no matter the crysis and media hunt for bitcoin, that's why this guys will continue and always see bitcoin as an option for the future.

If Gold price was bitcoin and crash just the way BTC did back in March this year, do you think it would have bounce back to $13k?
Well I can't tell since Fed is ready to inject another $3 trillion stimulus check to economy but that's absolutely nonsense and hyper inflation.
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November 04, 2020, 04:24:15 PM
 #34

Reserve assets should be stable one and I will think about fiat currencies. Bitcoin is more like an investment. Although in the case of large companies buying large amounts of Bitcoin as reserve assets, they also say that they will sell them at a good profit. Obviously, it is an investment rather than a reserve of assets.

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November 05, 2020, 04:28:59 AM
 #35

Quote
An excellent way to evaluate any investment is to take $100 million and move it forward a hundred years and ask the question what happens. If I had $100 million worth of currency in any of the largest cities of the world in the year 1900, and I went forward for 100 years, and I put the money into the best bank in the city, I have two types of risks; counterparty risks and inflation risk. Regarding counterparty risk, every major bank in every major city around the world failed in 100 years. And that is a 90% probability you lose everything

100 years is a pretty meaningless time horizon to look at inflation since nobody lives that long.  Even in shorter time frames where you're looking at still a "long time horizon" (perhaps 50 years), people don't hold cash that long.  People with enough excess cash invest it.  People without investable cash are constantly spending the cash they have. In short, nobody suffers the inflation rates touted for the USD.


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November 05, 2020, 05:25:09 AM
 #36

Someone who's going to answer it will answer depending on his bias. A bitcoin investor will answer it's the best asset, a realtor and real estate investor will say that it's the best asset and the rest with gold and other investment instruments. IMO, it's best to have at least 2-3 of those investments and you should include bitcoin as part of your diversified investments. As for the comparison of bank deposits and bitcoin, clearly, we have the winner between the two. Money in the bank for years will have lesser purchasing value if you just deposit it. But if you put it as an investment, you only gain a very low interest annually. Whilst in bitcoin, despite the risk that you'll take and it's quite high, it's very rewarding.
This conversation or rather a single thought was here for a long time now:
Bitcoin has more risk than most fiat-based stocks or precious metals, but has more profit potential period.

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November 05, 2020, 10:10:29 AM
 #37

Bitcoin is too unstable to be used as reserve asset

Prices have been fairly stable in the last years in bitcoins. The volatility isn't higher than in some previous metal markets, prices on commodities are fluctuating too with the general market sentiment. Bitcoins might not be the best reserve asset but it's definitely one. There are even companies now who use bitcoins as reserve asset.
No, that is not enough for bitcoin to become a reserve asset. It needs to be stable in a large amount of time. Look at how bitcoin performed in March and April, the price was reduced to one third and suddenly it was pumped up to $9000. And right now, the price of bitcoin is $14000. We are nearly reaching our previous peak and that is a good sign for bitcoin. But becoming a reserve asset is way too beyond its purpose and it might take several years for bitcoin to be adopted regularly. As you can see, there are many people who do not like bitcoin and without their support, it is hard for bitcoin to make a dramatic impact on our economy. And companies which consider bitcoins as reserve asset does not strong enough to have their own speech

Don't expect in bitcoin too much. One day it might be replaced by another digital asset which is stronger, better, and safer. Just try to accumulate bitcoin and sell it at a good price and always remember to support the blockchain technology with your own heart

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davinchi
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November 05, 2020, 03:09:25 PM
 #38

I can't believe it has come to this level for bitcoin but it is definitely the best reserve asset right now. I can't believe it because I have been here for a very long time and I have seen bitcoin from disregarded and I have seen it become reserve asset for a lot of companies for hundreds of millions of dollars. Literally from paying 10k bitcoins for a pizza to paying hundreds of millions for 30k to keep a huge companies cash reserves in bitcoin, that type of change was not something I would have even dared to imagine.

The companies who bought bitcoin in bulk at 10k have already made 40% this year and it has been like just 6 months since they told us they did this, if they bought even under that price they may have profited 50%+ and that is insane to think about how much of a profit for a regular company that must be.
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November 05, 2020, 05:01:07 PM
 #39

The crypto adoption has becoming quite a interesting topic for everyone and many countries as well as institutions are making rules and regulations to adapt cryptocurrencies in their fiscal systems.But most of the companies like MicroStrategy, Square Inc has invested in Bitcoin and keep them as reserve assest which is good thing but only with the prospective as investment opportunity that will yeild them profits in future when the price rises but there is risk of volatility in this types of reserves due to price fluctuations as they are not backed by stable coin in the market.Moreover many people think btc and other alts as store of value like gold but it was built by Sathoshi with a different perspective of coin that will change the traditional methods of payments with decentralised digital revolution for the world which has many other functionalities in the market. MicroStrategy has gained over 40% of profit after it has invested in Bitcoin with over 39148 bitcoin in their reserves with increase in prices as per the reports as prices plunged over $14 this week.So weed need to understand the basic use of this coin and when we will use it in proper way the prices will automatically increase with increased demand and limited supply of 21 million and you can gain profits on them.

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November 05, 2020, 06:47:46 PM
 #40

Why are you comparing Bitcoin with assets that has been around for hundred years?
If you said for a decade I would have said better, because for the last decade now Bitcoin has been increasing  and as time goes on it keeps getting bigger and bigger and if you have been the holding the asset for long now you possibly must have gotten something from it.

But, you telling me to take and move it forward a hundred years, seriously? If I am to make that kind of calculation with Bitcoin , which hundred years am I moving to? Bitcoin, but the point you’re making here is what I don’t get.

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