By your metrics, nothing is a store of value.
Do you consider Bitcoin's slow transaction speeds as a Major issue?
- Thread starter zghorner
- Start date
A bank account is a store of value. It is secure, backed by the financial strength of the bank and regulatory requirements, it does not expose my funds to hackers, my bank does not risk to go under at any time. A basket of daily items (aka inflation) has not gained in price value for the past 10 years and I can still hold tbills to have a semi inflation hedge. A pretty solid store of value in my book. Most assets that increased in price value are speculative assets such as properties and I hold a stock portfolio long term to keep up with that. Hence my mentioning of investment assets previously.
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So if your identity is stolen and your bank account emptied - how is that a "store of value", then you claim BTC can be lost. Anything can be lost! When you have money in saving you are losing to inflation!
You are comparing unrelated issues. Of course, if you hand the keys to someone you might get robbed. Regardless. But if my credit card details get stolen or someone hacks into my bank account while I maintained safe handling standards then I get reimbursed. Not so with a crypto exchange or market place. My hsbc or JPMorgan does not disappear overnight like crypto exchanges in the past and present. If a Rogue employee at my bank steals something then I as customer get reimbursed by my bank. At a crypto shop a single employee can bring down the entire shabang.
Inflation,people speak of inflation. There is NO inflation other than in speculative assets and you can hedge by being long speculative assets, lol. Once basic consumption baskets exhibit inflation again you can place your cash into tbills. This all applies to scenarios where there are not negative interest rates charged on savings or chequing account balances.
Inflation,people speak of inflation. There is NO inflation other than in speculative assets and you can hedge by being long speculative assets, lol. Once basic consumption baskets exhibit inflation again you can place your cash into tbills. This all applies to scenarios where there are not negative interest rates charged on savings or chequing account balances.
Yes you get reimbursed with a crypto exchange. But honestly nobody cares what you do with your money. If you want to make less than 1% with a bank account that's fine with me, just please stop preaching about it. Nobody in here wants to hear about you making nothing storing your pathetic earnings in a bank controlled environment...
please dont run the guy off he is throwing out some decent arguments and that is what forums are all about...the worst thing that could happen is this turn into an echo chamber circle jerk where everyone repeats and agrees on the same shit.
You are conflating issues. We spoke of "store of value" not speculative investments. I do hold speculative assets but I am mentally capable of seeing a clear separation of concerns between the two. Speculative assets are not a store of value. They teach you that in econ 101.
When someone does not take the time to educate themselves on bitcoin and the level of adoption and many options on how to utilize its ecosystem, it is difficult to have a meaningful discussion with them.
When these things are enumerated as a reply and ignored by that person, what more can you do to inform the person
If a person's tone in the post has a superiority complex about it and is condescending to others that may not be located in first world countries, it invites a response that is less than cordial
You're a good person, zghorner, you started a thread where you explained that you are not as informed on the subject. Please know that the person you are trying to defend is not the same
I have a close family member who is a sociopath and once I accepted it, I realized that the actions of others are not always well-meaning
It clear that Bitcoin is not a store of value for you. For an accelerating number of folks it has become increasingly more so.
Not necessarily from a $ standpoint but what it can teach you about your own values and why you believe what you believe. It’s multi-dimensional.
Like or not, fintech & DeFi are where there is an incredible about of innovation happening. BTC and ETH are what is used as the base (for comparison and contrast) against most of these innovations. You might not call that a store of value, many on the other hand do.
