BITCOIN IS NOT A STORE OF VALUE

[PSCQQSCQQP]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

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[Vaskiy]

What you're trying to convey. TV, computers and phones were the store of value. There is a difference between store of value and the devices. Innovation doesn't have limits, if gold and silver weren't found we could've made the same innovative devices with something else for sure. Maybe we don't get the perfect outcome as gold and silver, but there'll be a solution for it.

The rare availability makes it more valuable, with bitcoin the limited supply makes it more valueable. Being a store of value is simple, as bitcoin carries a value it is considered as store of value. Even if the credit goes to gold and silver it isn't a big thing.

[PSCQQSCQQP]

What you're trying to convey. TV, computers and phones were the store of value. There is a difference between store of value and the devices. Innovation doesn't have limits, if gold and silver weren't found we could've made the same innovative devices with something else for sure. Maybe we don't get the perfect outcome as gold and silver, but there'll be a solution for it.

The rare availability makes it more valuable, with bitcoin the limited supply makes it more valueable. Being a store of value is simple, as bitcoin carries a value it is considered as store of value. Even if the credit goes to gold and silver it isn't a big thing.

Electronics buy and large all require silver and gold for their electrical conductivity properties that other metals cannot compete with when it comes to size and efficiency, if you choose lets say copper for example to replace silver, your electronic equipment would be roughly 11% larger and heavier and 7% less energy efficient. Lets try replacing mining equipment with copper instead of silver, and tell me how much more space would be required, and how much less efficient the equipment would be. The same basic principle applies across the board for all electronics, as you mentioned there won't be a perfect outcome. However, supply and demand dictate that consumers the world over require efficiency.

Case and point, people demand compact, efficient devices. It's general supply and demand. Sure bitcoin is scarce relative to other cryptocurrencies to some degree, but what happens to the value if the infrastructure becomes highly inefficient (which it is if you look at how much energy it consumes in order to compute each block today). It was a great idea, but physically speaking you cannot hold on to it. Take into account power or internet outages that are ongoing (which is the case in alot of countries suffering from economic poverty), what's it worth at that point when you cannot send or receive payments? What's the solution? Additionally, what if consumer electronic devices are too expensive for everyday people to afford, how will they transact?

Store of value can only be experienced through long term value stability. Bitcoin is unpredictable, and volatile. If and when it becomes stable (price wise), then and only then does it earn the right to be declared "store of value".

[jackg]

Is someone trying to trick you into thinking gold is a store of value?

Someone mined that gold and the miner of it or its designer ate food.

Gold is replaceable, most things are replaceable. You can't say something an store value when it's value has dropped in real terms since 2012 - we're around 2012 prices minus inflation. Gold can be replaced with copper and silver fairly easily when it needs to be. Platinum also makes for a good alternative to gold (along with many other metals).

Don't be tricked into buying something that's over inflated and artificially physically scarce. Find something like a business to actually invest in instead if you want to protect your wealth - most assets are risky buys though so remember to diversify where reasonable.

[2stout]

Don't listen too much on youtubers, they just haters or don't have any idea about bitcoin or they just click baiting you for the views. Anyways, bitcoin is a store of value hence bitcoin started from the above and look what bitcoin now, it has rises on price better than gold. Even big names in the industry believes that bitcoin is better than gold or any investing medium that can think of.

Agree.  What started out as a medium of exchange also added a store of value under its belt, due to the belief of the maximalists and old coiners who believe beyond the medium of exchange and figured they had something very special on their hands.  This belief wound up spreading like wildfire.  At one time 10,000 Bitcoins bought you a pizza, now even in a down time would be close to 200 million.

[amishmanish]

What you're trying to convey. TV, computers and phones were the store of value. There is a difference between store of value and the devices. Innovation doesn't have limits, if gold and silver weren't found we could've made the same innovative devices with something else for sure. Maybe we don't get the perfect outcome as gold and silver, but there'll be a solution for it.

The rare availability makes it more valuable, with bitcoin the limited supply makes it more valueable. Being a store of value is simple, as bitcoin carries a value it is considered as store of value. Even if the credit goes to gold and silver it isn't a big thing.

I completely agree with your prospective, Bitcoin is not a commodity, it's an ever evolving innovation. There is not limit to application of innovation. Infact applicability is the value of Bitcoin. Looking at the current and future prospective, I think value of Bitcoin is only going to shoot up..

[pooya87]

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

We don't live in an alternate universe, we live in this one where gold and silver exists and will continue to exist and be used to manufacture electronics and we will continue using those electronics to create new innovations such as bitcoin.
In other words your arguments are moot.

Store of value can only be experienced through long term value stability. Bitcoin is unpredictable, and volatile. If and when it becomes stable (price wise), then and only then does it earn the right to be declared "store of value".

This is why bitcoin was invented as a currency not a store of value. It can and is being used as a medium of exchange and only to some extent it can act as a store of value when you look at it from a long term perspective and ignore the short term volatility.

[LegendaryK]

This is why bitcoin was invented as a currency not a store of value. It can and is being used as a medium of exchange and only to some extent it can act as a store of value when you look at it from a long term perspective and ignore the short term volatility.

Then just leave it at BTC is a digital currency that fluctuates extremely verses Government Based FIAT money.

Quit the store of value nonsense,
so people don't put their kid's college fund in BTC , and then 1 month before the kid starts college ,
have to tell the kid they have to wait 5-10 years for BTC price to recover.  

BTC is a trip to Vegas, sometimes you win, sometimes you go home with nothing.
People that only hold BTC never prosper, they just die and their coins get lost.

[PSCQQSCQQP]

Is someone trying to trick you into thinking gold is a store of value?

Someone mined that gold and the miner of it or its designer ate food.

Gold is replaceable, most things are replaceable. You can't say something an store value when it's value has dropped in real terms since 2012 - we're around 2012 prices minus inflation. Gold can be replaced with copper and silver fairly easily when it needs to be. Platinum also makes for a good alternative to gold (along with many other metals).

Don't be tricked into buying something that's over inflated and artificially physically scarce. Find something like a business to actually invest in instead if you want to protect your wealth - most assets are risky buys though so remember to diversify where reasonable.

Gold is replaceable... With what exactly? 6000+ years of monetary history disagrees with you, and most other people posting here today.
All due respect, I personally prefer to follow the world banks and governments since they always manage to retain control (throughout history), and no offense to you, they are alot more organized and quite frankly, more intelligent than the herd mentality that you, and so many other people share today.

Gold is only formed when a star explodes, lets see you replicate that, or explain how? Tricked? Artificially scarce? I really don't care if you buy gold or bitcoin, however banks and governments prefer if you didn't buy gold... They would like to buy it instead, as they have all (ALL WORLD BANKS AND GOVERNMENTS) have been purchasing more reserves in record numbers than ever before. Maybe they know something that you don't? You think you can somehow become more powerful than a world government using a crypto-currency? Show me...

Value is relative, gold has MAINTAINED it's purchasing power, it offers stability in ANY AND ALL economic situations, that's a fact that the world governments and banks seem to be alot more privy to than you. What an ounce of gold purchased 2000 years ago it is still able to purchase the same today in terms of goods and services. If it could be replaced by something else, then why hasn't it?

Let's talk about artificial since you mentioned it... JP Morgan as well as numerous other banks have been artificially suppressing the price with paper derivatives. They have been brought up multiple times on price manipulation. They are keeping the physical price artificially low so they can buy up as much physical as possible. Meanwhile your government auctions off bitcoin... You think they are dumb, or you are somehow smarter than them? How come they don't see it as valuable as you and alot of other sheep today? I can't wait to see the look on your face when your left holding empty space...

Honestly, I would rather follow the people that manipulated you into thinking crypto currency is only used by criminals and can't be tracked, lets take a look at all the AML/KYC laws and then tell me your going to have economic freedom... First touted as a currency that the government can't track or tax, the taxes are coming due, make sure you file bro. Can't track my gold and silver though.

[|MINER|]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

I don't know what do you mean by yours words. But I think there shouldn't be any compare on gold , silver vs Bitcoin .Because they are individually valuable gold and silver in their separate places, they have been important assets for ages era's and I think they will not depreciate until the end of the world, but will increase in value. On the other hand Bitcoin was invented digitally just like fiat currency, so I think comparing Bitcoin to gold silver is completely foolish .

[PSCQQSCQQP]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

I don't know what do you mean by yours words. But I think there shouldn't be any compare on gold , silver vs Bitcoin .Because they are individually valuable gold and silver in their separate places, they have been important assets for ages era's and I think they will not depreciate until the end of the world, but will increase in value. On the other hand Bitcoin was invented digitally just like fiat currency, so I think comparing Bitcoin to gold silver is completely foolish .

Agree, because there is no comparison. 6,000+ years vs. a 14 yr old man made invention. Keeping in mind that EVERYTHING that man has ever created was built with underlying flaws, bitcoin is no exception.

People here like to try to call a crypto-CURRENCY a store of value, just correcting their mistakes.

[Bitcoin SV]

BTC is shit

BTC will switch to POS coming soon. Then it becomes double shit

[Don Pedro Dinero]

What a load of rubbish.

'A store of value is essentially an asset, commodity, or currency that can be saved, retrieved, and exchanged in the future without deteriorating in value'

https://www.investopedia.com/terms/s/storeofvalue.asp

Bitcoin is a store of value. We can discuss whether it is its main function or not. Whether it is more a medium of exchange than a store of value, but don't make a fool of yourself by insisting on this nonsense.

BTC is shit

BTC will switch to POS coming soon.

LMAO. Keep dreaming.

[davis196]

This forum exists for more than a decade and there are still people, who keep comparing a programming code with precious metals.
Yes, there's no denying that gold and silver are being used as raw materials in some industries. And so what?
I don't see people using gold and silver coins to buy and sell goods, just like in antiquity/middle ages. The times have changed.
Copper, iron and bronze are also being used as raw materials. Does that make them store of value?
Bitcoin can't be used as a raw material. Bitcoin doesn't have the same utility as gold and silver. And so what?
Fiat money are a questionable store of value, but the majority of the people think that they are a store of value.
Can fiat money be used as a raw material? Do you think that they have an actual utility, other than being medium of exchange?

[adzino]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

What are you trying to say here? Would have been better if you explained a little what's happening on the video instead of making us go through the whole video.

But right now, at the current state, bitcoin is a store of value. People are using it more as a store of value than as a regular currency for making day to day transaction. Look at how many people are holding bitcoin and how many of them made a good fortune out of it. Maybe in the future when bitcoin and crypto currencies become main stream, people will use it as a regular currency.

[Frengki_cisco]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

That's the nature of precious metals, noble above all, almost all devices such as electronics use precious metals, everything created by the ruler of nature is useful for human life, not the same as Bitcoin created by humans, only useful for some humans, not all of them can feel Bitcoin, but precious metals, all of them.

[Despairo]

BTC is a trip to Vegas, sometimes you win, sometimes you go home with nothing.
People that only hold BTC never prosper, they just die and their coins get lost.

Not really sure what you mean, you're talking about gambling, investing in Bitcoin isn't a gambling, period.
Even Bitcoin price will dump 80% from the current ATH, you still have 20% in USD rate and you could sell it if you want, you're not lost everything.

Many early adopter who mine BTC in the early days are have good life and become a billionaire, the reason why their coins get lost is they think it's worthless so they didn't make any back up. Now when Bitcoin already worth for $20.000/each, many people already back up and tell their family about their private key.

[PSCQQSCQQP]

https://www.youtube.com/watch?v=n41GPPhLkhI&t=30s

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

What are you trying to say here? Would have been better if you explained a little what's happening on the video instead of making us go through the whole video.

But right now, at the current state, bitcoin is a store of value. People are using it more as a store of value than as a regular currency for making day to day transaction. Look at how many people are holding bitcoin and how many of them made a good fortune out of it. Maybe in the future when bitcoin and crypto currencies become main stream, people will use it as a regular currency.

"Store" of "Value"

A store is a place for something. Value is the worth we assign something. An object with value has some kind of tangible worth.

It may be food. It may be real estate. It may even be a collectible, in which case the value is more subjective than objective.

You may see value in a Picasso. I may not. In a zombie apocalypse, you may still see value in that Picasso, but I will prefer the objective value of a bazooka (with things to shoot from it).

If something has value, it can be exchanged with another person for something of value - and it isn't always the same thing that gets exchanged.

Money can be exchanged for food, for example.

Food can be exchanged for guns, and so on.

Suppose you live on a farm. You can harvest food from that farm. The farm remains a store of value as long as you produce food. In fact, everything involved with growing and harvesting that food is a store of value because every item is needed to create the food.

Aluminum is a store of value. We need aluminum to make some of the machinery to farm the land. Water, seeds, land - these are all stores of value.

So, if something is going to be a "store of value", it should hold that value under all but the most remote of circumstances. Its objective and subjective value may fluctuate, but over the long term, it will maintain much of that value.

The real estate market crashed in 2009, but it has recovered. Over the long term, real estate not only holds its value but its value also increases. That's because the land has many ways that value can be extracted from it, and because there is a finite amount of it. The value of that asset is stored.
Bitcoin Is Not A Store Of Anything

Bitcoin has no intrinsic value. It is not backed by any asset. It has no collectible value. It isn't even a tangible thing you can hold in your hand. It's vapor, living out there as 1s and 0s.

Talk about a ghost in a machine!

Bitcoin is not a store of or for anything. If it is a store of value, I should be able to convert fiat currency into bitcoin and bitcoin will maintain that value.

That does not happen.

Here's Bitcoin's track record at maintaining the value of US dollars over the last 3 ½ years.

https://ibb.co/mczqpm5

That chart is not maintaining anything. It's incredibly volatile.

Bitcoin's volatility is why it is not a store of value. It is also not a store of value because nobody needs it. Gold and Silver have always remained reliable stores of value, because they are needed and used the world over.

Maybe you believe that "one day" Bitcoin will stabilize and become a store of value.

Great! But why would you hold any Bitcoin until that day arrives?

If that day comes, what if it ends up at a 1-1 exchange ratio with the US dollar and you bought it at $8,569? Not only will you have realized Bitcoin wasn't a store of value, but you'll also be poor, and very angry.

You will also have opportunity cost - what you could have earned with that money while you "maintained" it in Bitcoin.

Means of Exchange
I want to make it clear that there is a big difference between being a store of value and being a means of exchange.
Currency is not a store of value. It is a means of exchange. Currency does not retain its value because of inflation. MONEY on the other hand, (which is gold), always maintains it's purchasing power.

Bitcoin is a means of exchange, but not a reliable one.

The problem is that it is a worse means of exchange than any other stable country's currency because of its volatility.

By the time you execute a currency conversion into bitcoin, and then into another currency, there is no guarantee the value will be maintained during the exchange (discounting commissions). "Hence, exactly why bitcoin is not a store of value".

[bittraffic]

Just look at what we are doing with BTC today, we trade, buy something using BTC and keep it in our wallet. When we fund the charity foundation using BTC, it is accepted so it's got to be more than just a store of value. Regardless of what this guy is saying, digital assets will be adopted and will be used widely that governments today are grabbing.

[PSCQQSCQQP]

Just look at what we are doing with BTC today, we trade, buy something using BTC and keep it in our wallet. When we fund the charity foundation using BTC, it is accepted so it's got to be more than just a store of value. Regardless of what this guy is saying, digital assets will be adopted and will be used widely that governments today are grabbing.

Governments are auctioning off bitcoin to fools like you, while purchasing precious metals in record breaking numbers... Are you being willfully ignorant of the facts? Google how much Gold China has purchased, or Russia...

There's a reason why they are selling it to you... To track everything you do. You're about to lose the little bit of anonymity that cash brought, now that they are phasing cash out and going digital, you'll be 100% spied on and you don't even seem to care...

At least Gold and Silver still offer 100% privacy. Don't even start with monero or dash that. Its all been reverse engineered. And at the very least they can be censored by ISP's via government regulation. Tell me all about how bitcoin works outside the system, until it didn't... Funny how that story suddenly sank like the titanic.