Quote from: jaredl on March 05, 2018, 12:09:41 PM

Quote from: amirshaf on March 01, 2018, 10:47:02 PM

Whether one should invest in bitcoin or not depends on whether you think Bitcoin will become a long-term trusted store of value.
If it does become a long-term trusted store of value, BTC should trade around $2,000,000 a coin (depending on how many coins are lost and are actually in circulation). That is over 100x the price of where BTC is today.
If BTC does not become a long-term trusted store of value, its likely price will be close to zero (unless it becomes a "cool" collectible... which is a possibility).
So if you think BTC has a 10% chance of becoming a long-term trusted store of value, it is a good investment with a nice expected return. It is still very risky but professional investors should invest some small portion of their portfolio in this case.

I really do not understand how did you calculate this $2,000,000 as the value of bitcoin to be considered as a good long term store of value.

What is a good long term store of value? Do you understand the meaning? A good store of value is basically an asset that you can use to hedge against inflation..

So the long term inflation rate is about 3.22%, so any asset that can keep up with this inflation rate would qualify as a good storage of value.

That is why people tend to buy gold and properties to hedge against inflation and use as a "storage of value".

Pulling a figure of $2,000,000 is merely wishful thinking and has no economical basis.

It's quite too much for an asset to have a price value like that and no one could ever buy at that price range except for those early adopter and whales. Those guys will compete to each other without us because we can't even afford to buy such price but i think we can't go there. Bitcoin is already a long-term trusted store since it broke its silence and begin to gain fame as more people are getting attracted to the value of it everyday, that's why there's fluctuation and price correction.