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> BTC is superior to gold in every respect as a store-of-value) Maybe in some respects, but every respect? Is it really beneficial for a store of value to have
by beervirus 5y ago
> BTC is superior to gold in every respect as a store-of-value)
Maybe in some respects, but every respect? Is it really beneficial for a store of value to have wild fluctuations in its value on a timescale of days/weeks?
- oleganza 5y agoThat's just early stages of adoption. Until BTC saturates the market, there will be huge rallies, huge drops and otherwise volatility. Right now everyone knows about USD and gold and holds as much USD or gold as they want. But there are still millions of people who don't know about Bitcoin or don't know they want to hold Bitcoin. Once Bitcoin reaches its saturation point (which could be at gold's level or 10x higher - who knows), of course it will be no more volatile than any other established commodity. In other words, volatility is not an inherent feature of Bitcoin or any commodity whatsoever, but just a state of the markets. The better argument would be to point out some inherent issue with Bitcoin that keeps it niche, the markets thin and value subject to wild swings forever.