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Funny, I always thought of it as a near perfect store of value and nothing more. The fact of the matter is that this is all Bitcoin has been used for so far (n
by GigabyteCoin 13y ago
Funny, I always thought of it as a near perfect store of value and nothing more.
The fact of the matter is that this is all Bitcoin has been used for so far (no company has used Bitcoins thus far for micropayments) so I think it will continue to evolve into an even more perfect store of value as time goes on.
- tocomment 13y agoWhy do you think it's such a good store of value?
- GigabyteCoin 13y agoMainly because it is impossible for anyone to take your bitcoins without your consent (if you know what you're doing, of course). It's not like you can place a password on your gold to prevent authorities from seizing it as they have done in the past.
- shabble 13y agoI'm not sure it's any more resistant to rubber-hose attacks ("What's your private key/passphrase?" vs "Where did you bury your gold stash?"). Perhaps a little more convenient, though.
- aneth4 13y agoThere is no such thing as a perfect store of value that is nothing else. A store of value must have real value - for use as a material or as a medium of exchange. Otherwise, there is no value to store. By this logic, any cryptographically strong series of bits is a perfect store of value.
- kyboren 13y agoCheck out http://bitvisitor.com http://bitvisitor.com -- they pay out hourly in > 10^-5 BTC increments (~$0.0012 at current prices). There are totally legitimate reasons to allow micro-transactions.