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BTC's main purpose is as a store of value not as a currency. Volatility will eventually go down, think 30+ years.
by JoshTko 6y ago
BTC's main purpose is as a store of value not as a currency. Volatility will eventually go down, think 30+ years.
- Robotbeat 6y ago> BTC's main purpose is as a store of value not as a currency. Not if you read Satoshi’s original paper on the topic!
- washedup 6y agoThat was over ten years ago. Things change. And it can still be a currency, just not a good one today.
- DamnYuppie 6y agoI think what many people are missing is that it may not be a good currency for small purchases but for moving very large sums of money it can be very convenient. There are no instruments in the world today that would allow you to move from $1,000,000 up and up by fitting it easily and discretely into your pocket. Could be a smartphone, USB drive, or a san disk. People in the west forget that like 85% of the world live in very corrupt countries where confiscation of property/wealth is real. If you want to get your money out of said countries this is the best way to do it hands down!
- xirbeosbwo1234 6y agoIts main purpose is as a currency. This is what the original authors clearly intended it to be and what all the popular discussion was about until a year or two ago. The "store of value" narrative is a rationalization of the fact that Bitcoin has failed.
- waynecochran 6y agoI don't even know what that means.
- JoshTko 6y agoThe most common store of value is cash. But it can be other things like a house, or stocks, or bonds. Anything that you can use to purchase other stuff. Key desirable store of value attributes is that it is widely accepted and doesn't lose value over time.
- waynecochran 6y agoBut for something to have "value", at some point, it can be converted to currency .. i.e., I can use it to buy something.