Post
Topic
Board Bitcoin Discussion
Re: Bitcoin vs Dollar
by
Light
on 11/11/2015, 12:26:36 UTC
BTC offers individuals the ability to store and move wealth in an easy and discrete way.  As long as it does that it will have value, being used as a currency is just a bonus.

But that's just it - it's a poor store of wealth at the moment. Given that nobody actual accepts Bitcoin as Bitcoin (I can't think of a single merchant that doesn't denominate in fiat then do a conversion to BTC), Bitcoin's value is therefore tied to the fiat value at any given time. Since that fluctuates wildly - it isn't an effective store of a large amount of wealth. There is a reasonable chance it could drop and you lose anywhere from 20-80% of your wealth - which is terrible considering most other safe options either breakeven with inflation or are a little behind.