Quote from: dnprock on March 19, 2020, 04:55:16 AM

Quote from: Khaos77 on March 18, 2020, 11:11:07 PM

If you think Bitcoin is a store of value at any time frame, you are marking yourself as a moron.

Store of value need to be stable, bitcoin is never stable.

It either shoots up in price or crashes down, stable it has never been!

Nutjobs , don't think bitcoin can die, and products can be replaced by newer better performing products.

Confusing religion beliefs with a product cycle is why so many here lose their shirt with bitcoin. Tongue

I used to think a Store of Value needs to be stable. But maybe, that's wrong. A Store of Value does not need to be stable. The important requirement is to retain value over time. Bitcoin is digital and has 21M supply. There will never be enough. It is going to be volatile. Gold has 1.5% inflation rate. It's still volatile. Governments hoard gold to reduce its volatility. Gold screwed economies up badly over the years. People abandoned it. They don't like using gold as a medium of exchange because it's volatile. Gold has been a Store of Value for thousands of years.

Stock markets are volatile. Governments implement measures to stabilize the markets. Its stability is done through manipulation. We saw this in 2008 and now.

So a Store of Value is usually volatile.

That mindset is somehow helpful to prevent being problematic when the price of the bitcoin goes down. Being optimistic and understand reality is somehow effective to become more efficient in storing bitcoin. It is true that stock markets are volatile depending on the events or happenings around the world that can affect its value. For example, the covid-19 is surely a factor why bitcoin is in a $5000 USD right now. I hope that the government should work on this so that people will not have a hard time storing bitcoin on their own. Like promoting bitcoin, it helps us to increase the volume of people using it so the demand also increases. Gold and Bitcoin are the same because they have limited resources.