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I use it as a store of value. Because I expect that it will continue to significantly appreciate (it has gone up 10X or more in the last year!), I couldn't car
by afc 6y ago
I use it as a store of value.
Because I expect that it will continue to significantly appreciate (it has gone up 10X or more in the last year!), I couldn't care less about its volatility. I expect that as its exponential rise slows down (like all exponential growth, it must come to an end, perhaps after a few more halving cycles), the volatility will decrease accordingly.
You're right that there are other systems to store value, but it doesn't follow that Bitcoin doesn't have value as one. It does for me, today. I've used it (together with some other systems to store value) in a very real sense to store portions of my salary and, months later, consume it, acquiring tangible assets. I couldn't care less about having to convert it to Euros first, that doesn't make it any less useful to me.
- postalrat 6y agoDo you feel all crytocurrencies (or crtyptostoreofvalues) deserve the same status as bitcoin? If not what makes bitcoin special?
- benhurmarcel 6y ago> I use it as a store of value. Because I expect that it will continue to significantly appreciate Then you don't use it as a store of value; you use it as a speculative investment.
- afc 6y agoMeh, not really. At the end of the day, same as gold, bonds, stocks, fiat and real estate, I use it just to park the outputs of my production today, with what I think is a reasonable expectation that I'll be able to get it back in the future (which I use together with other similar asset types). So far, it has greatly fulfilled my expectations and I have little doubts that it'll continue to do so. I consider it very useful. But sure, you're free call it whatever you want and continue to push your world view, and miss the point that, for me, today, it is very useful.