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How is it better than gold? The primary goal with a store of wealth is price stability, and gold is way more stable than BTC. BTC is certainly better than many
by elil17 7y ago
How is it better than gold? The primary goal with a store of wealth is price stability, and gold is way more stable than BTC. BTC is certainly better than many fiats but it’s still highly unstable. Most people who are buying it are buying it as an investment, not a store of wealth.
- vvpan 7y agoI think the commenter is suggesting that sometimes the mobility of your store of wealth is more important than volatility. Hard to argue that gold is easy to move or store. People from the US and Western Europe are prone to forget how volatile the political and economic situation is for most of Earth's population.
- elil17 7y agoPeople who use gold as a money store don’t buy physical gold, though. They buy insured, gold backed securities which are held in a stable location, usually the United Kingdom. The account that holds those securities is protected by a password, just like Bitcoin
- ybalkind 7y agoI think that those that believe in Bitcoin as a store of wealth, believe that its volatility is temporary. The assumption (or hope) is that its taking a volatile path upwards and will eventually, like gold, reach relative stability at a much higher price than what it is currently. Couldn't it be argued that Bitcoin's volatility is a temporary