Quote from: pooya87 on November 10, 2019, 05:49:42 AM

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I will address three fundamental flaws with your reply.

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bitcoin is not a store of value, bitcoin is FIRST a CURRENCY and then because of a dozen reasons it can be used as a store of value.

Bitcoin is absolutely a store of value and designed as such with a emission schedule imitating that of gold. The base layer has throughput limitations that preclude it from being a 'currency' useful for general/micro transactions.

It's borderless, secure, censorship resistant, immutable and decentralised. There is $30 trillion in tax havens and swiss banks, using BTC as a SOV is a no brainer.

Additionally, BTC's deflationary nature does not encourage transactions and by extension lends itself to hoarding which would be more in line with an SOV. People in this forum hate Keynesian economics (and perhaps for good reason), but its proven deflationary assets experience lower use and becomes hoarded.

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and there can be "next bitcoin" but it doesn't have to replace bitcoin! it is like saying there could only be room for only one CPU (Intel) and there is no room for another one (AMD).
if some day a better innovative idea came along that could be as good as bitcoin, it will simply grow to bitcoin levels and is used alongside of it.

Bitcoin as a SOV is fundamentally different to two different companies delivering mass market products - we would be comparing apples with oranges. There can only be one dominant SOV which is explaned in my original post.

By way of analogy, Silver has more market uses than Gold, why are governments/institutions hoarding gold over silver?, why has government/institution inventories of silver dropped precipitously to almost non-existant levels?

Both these articles are excellent and reinforce my point on Bitcoin as the dominant SOV and the problem with utilities:

https://medium.com/john-pfeffer/an-institutional-investors-take-on-cryptoassets-690421158904
https://medium.com/john-pfeffer/doubts-about-the-long-term-viability-of-utility-cryptoassets-db04350b1f55

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not everything is about illegal activities. most of the times it is about not wanting to bend over to the corrupted centralized power. look at India for instance.

I never claimed this to be the case.

My point is that there is pretty much no point in decentralising uses aside from money (MoE) and perhaps illegal market places. All other uses are better suited to centralised databases where the market (operators and users) are happy to bear the risks cumbersome and expensive decentralised platforms seek to eliminate.