Fundamental value of Bitcoin

Hoi said:
3) Offline storages are heavily guarded in equal or better ways than Fort Knox. Yes, the better ones even use multiple underground guarded bunkers. And of course multi-key (person) passwords.
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How do you know that, better than Fort Knox?

I just found this "According to BitX, the majority of customer funds are stored in keys that are kept safe in physical bank vaults inside safety deposit boxes, which they call the “deep freeze” storage solution. The deep freeze solution are keys which are multisig, with only specific individuals having access to the safety deposit boxes, and the same person does not have access to more than one safety deposit box. Private keys in the safety deposit box are encrypted, so it is impossible for a bank employee to steal the key"

So if it's inside a banks vault/safety deposit box it's good enough?
 
schweiz said:
There is not a single real and economical argument that can explain why cryptocurrencies go up with 100% in days and why a bitcoin would now be worth thousands of % of the initial value..
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Ah... back on track with my thread :)

I'm sceptic, but there is definitely a very big real and economical argument that explains those moves.

Supply and demand. Supply is very limited in that most people hold on to BTC because of the speculative aspect. Demand rises for several reasons.

That demand is pushed through marketing/sales....

Now what I was initially (and still am) interested in was the value connected with usage. That's still not answered. I personally don't believe in the value storage of BTC. So I see it as a means of transactions.... but since most people hold and not use it... it's speculatively driven up. If usage catches up, then value can be multiple of what it is now. But, again, all other coins can be used as transactional means... so that will depreciate that value of bitcoin.

So... yes.. sky is the limit...
 
JackRab said:
Ah... back on track with my thread :)

I'm sceptic, but there is definitely a very big real and economical argument that explains those moves.

Supply and demand. Supply is very limited in that most people hold on to BTC because of the speculative aspect. Demand rises for several reasons.

That demand is pushed through marketing/sales....

Now what I was initially (and still am) interested in was the value connected with usage. That's still not answered. I personally don't believe in the value storage of BTC. So I see it as a means of transactions.... but since most people hold and not use it... it's speculatively driven up. If usage catches up, then value can be multiple of what it is now. But, again, all other coins can be used as transactional means... so that will depreciate that value of bitcoin.

So... yes.. sky is the limit...
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What Bitcoin Traders Should Know About Fundamental Analysis

https://www.coindesk.com/bitcoin-traders-know-fundamental-analysis/
 
SunTrader said:
Agree with that. But how plausible is it to lug around gold bars and how do you parcel them out for a loaf of bread?
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I don't think gold is good either... basically, you need food and water... you can't survive on goldbars... it might get you ahead as a tradable item, but not far.

Usability of gold is limited. Same for bitcoins when the shit hits the fan.

Certain skills are probably your best trade... Doctor, farmer, generally having a decent brain... leadership capabilities...
 
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