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It's the perfect store of value. Even gold's above ground supply doubles every 3 or 4 decades. It's optimised for storing large amounts of value for long peri
by npoc 2y ago
It's the perfect store of value.
Even gold's above ground supply doubles every 3 or 4 decades.
It's optimised for storing large amounts of value for long periods of time. Nothing else has the fundamentals that come close.
As more and more people/countries realise this, the demand and therefore value will continue to increase. The earlier adopters will have a large advantage over the late adopters.
It's the perfect savings technology for people/companies/nations.
Just as TCP is the digital protocol for the internet, bitcoin is the digital protocol for money.
It's quite something.
https://x.com/SimplyBitcoinTV/status/1868035093178056803 https://x.com/SimplyBitcoinTV/status/1868035093178056803
- bediger4000 2y agoBut we already can stockpile the single universal store of value, dollars. Dollars, unlike Bitcoin, is completely under USA control.
- npoc 2y agoBut the value of dollar is halved every decade through supply inflation. That's why the price of houses doubles every decade while their value is relatively stable.
- wwwtyro 2y agoDo you mean medium of exchange? I think it's difficult to make the claim that the USD is a good store of value.
- bediger4000 2y agoMoney has the property of medium of exchange, yes. It's also a store of value, and a unit of accounting. I took econ 101.
- npoc 2y agoFlowers are also a store-of-value, but like the dollar, not a very good one.
- AnimalMuppet 2y ago> Even gold's above ground supply doubles every 3 or 4 decades. Citation needed. In particular, Wikipedia says 201,296 tons exist above ground as of 2020. It also says the annual production is 1,480 tons. So, no, the gold above ground absolutely does not double every 3 or 4 decades. More: Look at the price of gold and the price of bitcoin. Which has been the more stable store of value?
- npoc 2y agoGold supply increases at a rate of around 1.5-2% per year. Last year gold supply increased by 4899 tons which gives 4899/212582 = 2.3% 2% annual increase means it doubles every 3.5 decades. https://www.lbma.org.uk/alchemist/issue-100/gold-production-over-the-past-and-next-25-years https://www.lbma.org.uk/alchemist/issue-100/gold-production-... As for the price, here's bitcoin priced in gold: https://imgur.com/a/xFDJ0Wq https://imgur.com/a/xFDJ0Wq