Quote from: fonestar on December 28, 2017, 04:29:16 PM

First of all I am pro-Bitcoin and pro-Crypto-Currency, so let me get that out of the way first.

But the idea that Bitcoin serves as "a store of value" is so absurd and full of logical fallacies that I think it deserves to be explored.

First, in order for something to be "a store" of anything... it needs to exist in the present moment first. Bitcoin's value comes (or came) from the fact that it is a usable network to send payments efficiently and cost-effectively. Bitcoin's value in the present is totally dependent on network-effect, upon the fact that people are actually using the network (today, right now).

Now the idea that everyone else on Earth is going to buy 0.1 BTC, 0.05 BTC or 0.001 BTC and simply sit on it forever (HODL) for your benefit is ridiculous.

BTC Bitcoin in its current state is only a semi-functioning network plauged by high fees and long transaction times. In theory, if BTC Bitcoin was the only digital payment and remittance system on Earth, and was guaranteed to remain the only digital payment and remittance system on Earth... yes... then BTC Bitcoin *could* serve as a store of value. But of course this is not the reality of the world we live in where ideas are copied and improved upon and people gravitate towards newer products.

From the vantage point of someone who is entering cryptos for the first time in 2017/2018 it is far better to be an alt-coiner and have fast, secure payments. As opposed to buy a slow moving coin to further enrich yourselves.

I don't think your arguments make much sense. Look at gold - noon would doubt that this metal is used as store of value. As you using it for transactions? Is it easy to make payments with it or transfer between people?