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It's something mankind has never seen before - a liquid asset with perfect scarcity - which makes it the ideal store of value. There's approximately $1000T of s
by npoc 3y ago
It's something mankind has never seen before - a liquid asset with perfect scarcity - which makes it the ideal store of value. There's approximately $1000T of stored value in the world looking for a better home. You do the math.
- ArtTimeInvestor 3y agoWhere do you see those $1000T? I only see $13T - the market cap of gold. Everything else seems to be a different game. Who holds fiat currency will not buy Bitcoin. For the same reason they did not buy gold or any other asset - they simply don't think beyond fiat. Who holds stocks plays a different game too. They are investing in enterprises. Same for real estate, bonds etc. Those are all different games for different types of people.
- npoc 3y agoAll stored value is looking for the best store of value. Until bitcoin there was no clear winner - gold, real estate, stocks, bonds, savings accounts, pensions etc. have all got their own significant drawbacks. People don't need to think beyond fiat, they'll simply store their wealth where its nominal value goes up the most, especially if it offers the most liquidity, portablilty, divisibility, etc Here's a good analysis: https://www.onceinaspecies.com/p/bitcoins-full-potential-valuation https://www.onceinaspecies.com/p/bitcoins-full-potential-val...