Quote from: deisik on July 11, 2017, 10:21:42 AM

Quote from: 1Referee on July 11, 2017, 09:45:36 AM

Quote from: UFCkid on July 11, 2017, 07:35:09 AM

Not much of a store of value if it drops 10% in 1 day. Thats HUGE - definitely not peanuts.

I think you have to look at things from a different perspective - short term fluctuations don't harm anyone's long term store of value plan. Point is that as long as the value of your coins is going up over a longer period of time, that the fluctuations we experience every now and then won't impact the value of your holdings at all. Important factor is that a store of value is meant to hold its value over a longer period of time, and that's exactly what Bitcoin has been doing throughout the years. In addition, it gave most people a thick fat bonus on top of that.

There can be different approaches

Personally, I'm more inclined to consider as a store of value not something which is going to hold its value over longer periods of time (though I don't deny the viability and plausibility of this approach) but rather something which is resistant to factors contributing to the loss of value during times of economic meltdown and chaos. For example, gold is slowly losing its value over time (I mean time when the economy booms or just moves ahead) but it is likely the only monetary asset out there which will preserve its value during severe crises or even wars. In this way, Bitcoin can hardly be thought of as a store of value. In fact, no speculative asset can be rightfully considered that even if they show consistent profits over longer periods

@1Referee - I liked your response and give you credit for having the ability to think bigger picture.

But my thinking was more towards how @deisik has explained it. That when everything is in the red - a commodity that is a good store of value should be able to withstand the bloodshed. So when you said it has only dropped 10%, which is nothing compared to how much it has risen, my opinion was that the previous price rises were besides the point - a 10% drop was not a good indication of a good store of value- even more so since it is down 26% from last months ATH.

@deisik - best post I've read on BCTalk for ages.