Re: Medium of Exchange vs Store of Value: Where is Bitcoin today?
A store of Value , Holds it Value Relative to Fiat.
Bitcoin is not a store of Value as over 80% can be lost at a moment's notice as the past year has proven.
Things that value is almost fixed are a store of value.
People need to learn the difference.
Bitcoin is a fluctuating medium of exchange, it has never been and never will be a store of value.
Bitcoin is not a store of Value as over 80% can be lost at a moment's notice as the past year has proven.
Things that value is almost fixed are a store of value.
People need to learn the difference.
Bitcoin is a fluctuating medium of exchange, it has never been and never will be a store of value.
Your view is likely a valid one. However, according to Wikipedia, a store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. In other words, a store of value is anything that retains purchasing power into the future. For instance, the most common store of value in modern times has been money, currency, stock or a commodity like a precious metal or financial capital. Do you agree that Bitcoin is money, currency or an asset? If yes, then, it could likely serve as a store of value.
Store of Values don't depreciate 80% and still be called a store of value.
So while you could make the argument Bitcoin functions as a crypto asset, it would be like milk with a short expiration where the value is completely Lost!
Sorry, no good store of value analogy works at all for bitcoin, it depreciates too much to have any true usage as such.
While Bitcoin has proven to be in the last Year is a Collapse/Loss of Value nothing more.
It is a Gamblers Dream , but too unstable for real financial security.
Want to based your kid's college fund, your mom's retirement on something that loses 80% before you can cash out.
No Bitcoin is Risk, and should be considered Pure Gambling as it has proven , it will make some rich and others poor,
much like a black jack table or roulette wheel.
Has anyone ever called betting on the horse races a store of value.
The Crypto races are the same, make your bets on your favorite crypto.
Just as race horses can die so too can Bitcoin.
