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You're right that Bitcoin is only a store of value (thanks for reminding me of that word, btw!). It could definitely be successful with that purpose, particular
by alehul 9y ago
You're right that Bitcoin is only a store of value (thanks for reminding me of that word, btw!). It could definitely be successful with that purpose, particularly for short-term storage or for those in physical danger.
As a sibling comment mentioned, it could be a gold alternative. Bitcoin is much more volatile, however, and it already has a $160b market cap. The total value of all gold ever mined, from what I've found, is $1190b. Gold has gone up in value while Bitcoin has been rallying, which is a small but nonetheless existent indicator that people are not changing their store of value.
Bitcoin will only be stable when most of those invested in it view it as that store of value, however even then it will be shaky compared to gold. Though it may receive commercial adoption due to its popularity, the slow transactions you mentioned really disable that.
In conclusion: Thanks for the list of cryptocurrencies, as I'll certainly be looking into buying them rather than Bitcoin ;)