Ninjastic
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Re: I want to store bitcoin in USD without transferring to my bank?
by
CanIHazBitcoin777
on 09/10/2015, 21:02:52 UTC
Quote from: VirosaGITS on October 09, 2015, 06:43:15 PM
Quote from: CanIHazBitcoin777 on October 09, 2015, 10:50:06 AM
Quote from: VirosaGITS on October 08, 2015, 08:54:50 PM

Its not really easy to steal gold from a vault and those are insured. Bitcoin is a unknown store of value. Its not because its protected from fiat inflation that its a good store of value. Its volatile as hell and probably what people would give as an example to being a poor store of value. If the price change a lot, its not a "good store of value".

It may however be a "good long term hold investment" if you bet on Bitcoin succeeding its revolution.

If it fail you lost everything, Hence a bad store of value.

Meanwhile gold, even if ever government blow up/vanish, the world end will retain value.

I think toilet paper is a better store of value than Bitcoin Wink

Gold can be stolen by "confiscation", if too many people start to use it. All vaults are at the mercy of the government, if they choose to enact a law to confiscate gold, and give you a "redeemable" toilet paper , then you are also mistaken.

Bitcoin on the other hand cant be confiscated, even if its price is volatile.

Confiscated, do you live in Brasil or something? Its completely illegal for the government to do this here. If you live in a country where you cannot trust the government, then i would understand your prerogative and would leave it as an option for people that live in countries with stable governments.

I dont think there is a country where you can trust them Cheesy

I mean they make the laws and can change it anytime, they just issue an emergency executive order to "save the economy" and boom your gold is gone, they will confiscate it all...