Bitcoin isn't a Store of Value.
https://news.bitcoin.com/putting-an-end-to-the-bitcoin-store-of-value-fallacy/
I read this article the other day and it really set me off. All the technical reasons about why Bitcoin technically isn't a store of value. No, it's not a store of value.
It's a store that creates value.
Bitcoin is better than a store of value. It's called Gold 2.0 because you can hold it and it actually improves itself for free.
When you think about it, all inflation on the Bitcoin network is allocated to the miners. 100% of inflation is used to secure the network, so what about all the fundamental development being done on Bitcoin every single day worldwide? Those gains are all pro bono.
Imagine if you had a chunk of 12 karat gold that was slowly upgrading itself into 24 karat gold. Unlike gold, in the case of Bitcoin, there is no cap on how much value can be generated. Buy Bitcoin today and hold it for ten years, because the Bitcoin of the next decade is a thousand times better than the Bitcoin of today. The market will prove it.
Bullish on Bitcoin for some reason.
I've never been bullish on Bitcoin,
but here I am, being bullish.
It's a little odd.
Or gold being able to easily be sent across the world... or gold being accepted at Wholefoods.
Bitcoin might very well be the AOL of crypto but I think we can all agree the internet wouldn't be what it is today without AOL bringing it to so many people... and if it keeps improving it might just last forever. I honestly can't wait until I can pay my rent with it... and that doesn't feel far off at all.
If the main reason bitcoin is superior is that it is able to improve itself over time, could (theoretically) some fiat currencies also be improved? In a different way, of course (centralized authority making changes), but it could theoretically mean bitcoin doesn't have as much of an edge there as we thought?
fucking awesome bud and couldnt agree more
have a great day dude i am off to do chores all day
ttyl
Did I wait too long?
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Financial advice blah blah blah :D
So not confident enough to answer that.
I just saw an opportunity in real time and took it.
Mmmhhm
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People are always going to publish hit pieces on this, they said that about the internet, ecommerce, social media and now all 3 are household names!
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Gold does the same thing because it can not be inflated. When the currency supply contacts it gets better. Also you cant use bitcoin without two things. Electricity and a network.
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Well when electricity and networks go away then I guess you win?? lol
Lol I guess that was the fatal flaw all along
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Speaking from a country with massive power outages fiat can also be pretty useless without it lol!
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