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Why do you care so much about predictable supply if the price is anything but predictable? How is such high volatility commodity a good storage of value? It mig

Why do you care so much about predictable supply if the price is anything but predictable? How is such high volatility commodity a good storage of value? It might be a good speculation vehicle, but people looking to store value typically look for something more stable. It remains to be seen how resistant Bitcoin is if powerful governments really decide to take it down. Bitcoin and Blockchain is an interesting project but 1 BTC > 50k USD... Yeah, sure...

throwaway3699 6y ago
It doesn't matter if there's some instability, as long as it's not a downward trend. > Bitcoin and Blockchain is an interesting project but 1 BTC > 50k USD... Yeah, sure... Bitcoin could conceivably become the next global reserve currency, 50k USD is horribly undervalued from that PoV.
repartix 6y ago
I applaud you for asking good questions. > Why do you care so much about predictable supply if the price is anything but predictable? Because the price will go higher. When the price goes over $x MM per BTC it will be very predictable. > How is such high volatility commodity a good storage of value? It stores more value than any other commodity. When the stock market started in 1920s it was no less volatile than Bitcoin. Volatility is a sign of disruption as much as it is a sign of value. > 1 BTC > 50k USD... Yeah, sure... If only you could see the data I'm seeing.
- andresp 6y ago
  "Because the price will go higher" isn't really an answer. You can either explain it or you just have faith that it will do what you want. People could use that same argument for everything. The stock market was never meant to be a way to store value but a public tool to finance and own projects that actually produce economic value. Comparing it to the bitcoin market is a false equivalence. But best of luck for your investments.
- wwtrv 6y ago
  The NYSE was opened in the 1790’s and even in the 20’s stock volatility was significantly smaller compared to bitcoin, DJIA “only” grew around 5 times between 1920 and 1929 (so comparable to the decade between 2009 and 2020). To find something on a similiar scale to bitcoin you might actually need to go back to the 18th or 17th centuries (see the “South Sea Bubble” or the “Tulip Mania”).

throwaway3699 6y ago

It doesn't matter if there's some instability, as long as it's not a downward trend. > Bitcoin and Blockchain is an interesting project but 1 BTC > 50k USD... Yeah, sure... Bitcoin could conceivably become the next global reserve currency, 50k USD is horribly undervalued from that PoV.

repartix 6y ago

I applaud you for asking good questions. > Why do you care so much about predictable supply if the price is anything but predictable? Because the price will go higher. When the price goes over $x MM per BTC it will be very predictable. > How is such high volatility commodity a good storage of value? It stores more value than any other commodity. When the stock market started in 1920s it was no less volatile than Bitcoin. Volatility is a sign of disruption as much as it is a sign of value. > 1 BTC > 50k USD... Yeah, sure... If only you could see the data I'm seeing.

andresp 6y ago
"Because the price will go higher" isn't really an answer. You can either explain it or you just have faith that it will do what you want. People could use that same argument for everything. The stock market was never meant to be a way to store value but a public tool to finance and own projects that actually produce economic value. Comparing it to the bitcoin market is a false equivalence. But best of luck for your investments.
wwtrv 6y ago
The NYSE was opened in the 1790’s and even in the 20’s stock volatility was significantly smaller compared to bitcoin, DJIA “only” grew around 5 times between 1920 and 1929 (so comparable to the decade between 2009 and 2020). To find something on a similiar scale to bitcoin you might actually need to go back to the 18th or 17th centuries (see the “South Sea Bubble” or the “Tulip Mania”).