Ninjastic
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Re: Will Bitcoin become a long-term trusted store of value?
by
Rrotess
on 04/06/2018, 10:08:38 UTC
Quote from: andrei56 on March 05, 2018, 04:27:45 AM
Quote from: dinoloverpete on March 01, 2018, 11:01:38 PM
Quote from: amirshaf on March 01, 2018, 10:47:02 PM

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.


Where do you get this figure from?

Bitcoin has the basic characteristics of a store of value, the main one being a limited supply. It will need to have some utility for it to be trusted as a store of value so it must succeed in some form as a currency.
True, bitcoin has the perfect characteristics to be a store of value in fact its characteristics are even better than gold, however there is a lot of competition with many other alts trying to take its place so if bitcoin is become a store of value it needs to leave no doubt that it is the best coin in the market and for that it needs to be adopted as a currency or have some other use.

Well, bitcoin has several uses. It carries good characteristics to be called the store of value. Nevertheless, we have to maintain and preseve that qualities and characteristics so that in the near future it will be the most valuable among them all.