Quote from: cybersofts on January 01, 2019, 06:40:43 PM

Bitcoin on Track to Replace Gold as Dominant Store of Value: Crypto VC

Venture capitalist Lou Kerner says bitcoin is well on its way to replacing gold as the dominant store of value, noting that its market cap has already surpassed that of silver.

What [bitcoin] has evolved into is a store of value, Kerner told Bloomberg. Today, the main store of value is gold. Its an $8 trillion [market]. Bitcoin today is around $60 billion, so it has an opportunity to actually replace gold as the dominant store of value.

Kerner doubled-down on his remarks from August 2018, when he predicted that BTC would supplant gold as the most trusted store of value.

Crypto Will be Bigger Than the Internet
Kerner, the founding partner of New York-based CryptoOracle, said despite the current bear market, crypto would be a far more disruptive technology than the Internet.

The disruption from that is gonna be bigger than the disruption that we saw from the Internet, Kerner predicted. Bitcoin is kind of the early leader, like the Yahoo of its day. And while its a massive thing, its not the thing [right now].

But in 20 years, BTC and crypto will be off-the-charts, Kerner claimed.

We really believe that in 20 years, bitcoin will have created trillions of dollars in value similar to how the Internet has, he said. Were at the very beginning today.

When asked why the bitcoin price has plunged from its record high of $19,500 last December, Kerner said its because the market got ahead of itself due to unchecked capitalism.

Kerner said virtual currencies and blockchain would eventually prove that they are far more revolutionary than first imagined.

Theres something called Amaras Law, which is that the impact of all great technological changes is overestimated in the short run, but underestimated in the long run, he said.

Basically, Kerner is saying that the true impact of crypto and blockchain wont be known until 20 years into the future.

Reference: https://www.ccn.com/bitcoin-on-track-to-replace-gold-as-dominant-store-of-value-crypto-vc/

a store of value doesnt drop 80 percent during a year, for me it looks more like a fanatic cult group of sectists.