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Nobody keeps bitcoin to store value. They keep it because they think it will appreciate in value. Why? Because of has went up in the past. If people lose faith
by rhino369 9y ago
Nobody keeps bitcoin to store value. They keep it because they think it will appreciate in value. Why? Because of has went up in the past.
If people lose faith that it will keep going up, then it stops holding value.
It’s pure speculation based on the greater fool theory.
- pas 9y agoA lot of people do use it to store value, its deflatory nature makes it ideal for that.
- rhino369 9y agoPrice is based on supply and demand. It's only deflationary if demand stays the same. But if people stop believing bitcoin is going to MOON, then demand can/will fall. There are a limited number of beanie babies too.