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Glossy

Bitcoin as a store of value

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What do you think what cryptocurrency is the best for store of value.

Bitcoin is the most popular and a lot of people use it, but there are other cryptocurrencies too with different benefits.

For example Monero is private coin that can not be traced.

 

And what other assets do you prefer as a store of value?

Gold has been traditionally used for hundreds of years for example.


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1 minute ago, Glossy said:

Bitcoin is the most popular and a lot of people use it, but there are other cryptocurrencies too with different benefits.

Bitcoin so far and I think it will be for long time because of it's popularity and limited supply. The chances for others are very much not existence right now. I thing Bitcoin dominance is over 65% right now.

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Cryptocurrency is not a good store of value as the price is changing so fast.

For me this currency is made to earn and lose, therefore, the only amount we should have on this is the money we dont need to spend.

BUT, IF local stores and merchant will accept crypto in their routine then that is the call to shift.

For now i will choose still to have FIAT and GOLD as a store value.


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15 minutes ago, cryptokram said:

BUT, IF local stores and merchant will accept crypto in their routine then that is the call to shift.

We only had 10 years since Satoshi release his whitepaper. Give it enough time. There will be technology like LN and paying with BTC will be less costly.

May be for someone it's not storing any value but I see it as store of value. $10K dollar today is not going to have same buying power after 10 years but $10k worth of Bitcoin will have more buying power than now.

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24 minutes ago, Glossy said:

What do you think what cryptocurrency is the best for store of value.

Bitcoin is the most popular and a lot of people use it, but there are other cryptocurrencies too with different benefits.

For example Monero is private coin that can not be traced.

 

And what other assets do you prefer as a store of value?

Gold has been traditionally used for hundreds of years for example.

We can not exactly track how much Monero there are because of its privacy, and that is why Monero will simply NEVER be a store of value.

It should be limited in numbers to be source of value

Edited by hexwin

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49 minutes ago, xBDT Script said:

Bitcoin so far and I think it will be for long time because of it's popularity and limited supply. The chances for others are very much not existence right now. I thing Bitcoin dominance is over 65% right now.

Yes Bitcoin is by far the most used cryptocurrency, but that doesn't mean that some other coin will take its place.

 

49 minutes ago, cryptokram said:

Cryptocurrency is not a good store of value as the price is changing so fast.

The price will stabilize eventually and become less volatile - but even the price of gold changes from time to time

36 minutes ago, xBDT Script said:

May be for someone it's not storing any value but I see it as store of value. $10K dollar today is not going to have same buying power after 10 years but $10k worth of Bitcoin will have more buying power than now.

That is correct, the same amount of BTC will hopefully be much more worth

 

35 minutes ago, hexwin said:

We can not exactly track how much Monero there are because of its privacy, and that is why Monero will simply NEVER be a store of value.

It should be limited in numbers to be source of value

Do you think because of its privacy properties that someone can manipulate it?


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1 minute ago, Glossy said:

but that doesn't mean that some other coin will take its place.

That's what I am saying too. If we talk about popularity then other coins are miles behind and if we talk about hash power then it's the same.

Bitcoin brought up the concept of decentralization and made it popular so my guess is that as long as decentralization stays Bitcoin will stay and dominate.   

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No privacy coin can ever be store of value as I said, because for something to be a store of value there need to be limited number of coins and they should be public and not private.  So, something maybe can replace Bitcoin but it can never be any privacy coin as a store of value

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2 hours ago, hexwin said:

No privacy coin can ever be store of value as I said, because for something to be a store of value there need to be limited number of coins and they should be public and not private.  So, something maybe can replace Bitcoin but it can never be any privacy coin as a store of value

I am quite confused with your statement. What's the relation between not being store of value when it's a privacy cryptocurrency? People are mostly using it for both untraceable transaction as well as hiding their assets from prying eyes. So, I think it has nothing to do with not being a store of value.

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2 minutes ago, Consignee said:

So, I think it has nothing to do with not being a store of value.

Agree there. I just learnt the yobit coins are costing 0.12btc and if people see it has storing value then they will use it. It's the same with privacy coins.

However I do not see there are any competition for Bitcoin yet in this matter.

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7 minutes ago, Consignee said:

I am quite confused with your statement. What's the relation between not being store of value when it's a privacy cryptocurrency? People are mostly using it for both untraceable transaction as well as hiding their assets from prying eyes. So, I think it has nothing to do with not being a store of value.

It is very much connected with that. You can study more about this topic.

With privacy coins you can NEVER know exactly how much coins there are.

Bitcoin has exact 21 million coins and you can track exact supply.

Low and limited supply is what gives value to any asset not just crypto.

Example is GOLD

https://en.wikipedia.org/wiki/Store_of_value

Edited by hexwin

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1 minute ago, hexwin said:

Low and limited supply is what gives value to any asset not just crypto.

And this is why Bitcoin is the first choice. Now one can argue that how about other coins that was forked from Bitcoin. Such as BCH.

Problem with others that they do not have much demand in the space hence the hashrate is dying.

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1 minute ago, hexwin said:

Low and limited supply is what gives value to any asset not just crypto.

Maximum supply of DeepOnion is- 25,000,000

Max supply for BTCP is- 22,873,588

Max supply for Dash is- 18,900,000

There are a lot of coins which has limited supply, not privacy coin /= mean they are store of value.

Privacy coin has also limitation, Monero doesn't though. I think only limited and low supply can't be an indication of store of value.

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Just now, xBDT Script said:

And this is why Bitcoin is the first choice. Now one can argue that how about other coins that was forked from Bitcoin. Such as BCH.

Problem with others that they do not have much demand in the space hence the hashrate is dying.

Miners choose BTC Bitcoin when split happened, and great majority of users with hashrate stayed on Bitcoin.

If people want to use BCH they can,  but even RogerVeer don'r belive in whole 'store of value' story.

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To store value, bitcoin is the best option, because it has a greater history and has more people who join the market every day, since Monero is very good, and used if you want to keep anonymity, the only thing is that if Bitcoin falls in price Monero will suffer, so no Altcoin for me has a life of its own, unless they are coins that survive the Pump and Dump.

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2 minutes ago, hexwin said:

people want to use BCH they can,  but even RogerVeer don'r belive in whole 'store of value' story.

Ver is an opportunist, he will move where he will see money. Right now he is pushing BCH thinking it has future. I think it would have a good shot if ver would accept that it's an alt not bitcoin. 

Seems like ver is having a good fight with his emotion and reality.

Edited by xBDT Script

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3 minutes ago, Consignee said:

Maximum supply of DeepOnion is- 25,000,000

Max supply for BTCP is- 22,873,588

Max supply for Dash is- 18,900,000

There are a lot of coins which has limited supply, not privacy coin /= mean they are store of value.

Privacy coin has also limitation, Monero doesn't though. I think only limited and low supply can't be an indication of store of value.

I am telling you again... please study more about store of value before you claim that any privacy coin can become some store of value.

With all this privacy coins we never know exact current supply of coins. We can never be sure.

Some may even argue that Dash is 100% private as many other so called privacy coins.... they can be semi-private.

 

That does not mean I am against privacy coins. 😉

Edited by hexwin

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Just now, hexwin said:

please study more about store of value before you claim that any privacy coin can become some store of value.

I didn't say that, I am not saying privacy coins are store of value. My point is they can be store of value if this coin has enough potential in the market.

1 minute ago, hexwin said:

With all this privacy coins we never know exact current supply of coins. We can never be sure.

Why mate? You can always get the exact information on coins on circulation in the market. You ca easily know how many coins are there because you know each of the coins has its own mining algorithm and their distribution model. You can easily calculate how many coin have been mined.

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6 minutes ago, Consignee said:

I didn't say that, I am not saying privacy coins are store of value. My point is they can be store of value if this coin has enough potential in the market.

Why mate? You can always get the exact information on coins on circulation in the market. You ca easily know how many coins are there because you know each of the coins has its own mining algorithm and their distribution model. You can easily calculate how many coin have been mined.

Ok.

You must be very smart person.

Please try to calculate this for Monero coin, and ask someone who is smarter then me and understand economy why privacy coins can never be good store of value.

If you don't understand why, then I can't help you 🙂

 

As for DASH... 

coin lost almost 96% of its value ...not exactly a store of value

Og9oN94.png

 

Edited by hexwin

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1 minute ago, hexwin said:

why privacy coins can never be good store of value.

I am genuinely curious to know the reason? Is this because of the supply, max cap? Or currently there are no such privacy coin yet in the industry?

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1 minute ago, hexwin said:

Please try to calculate this for Monero coin, and ask someone who is smarter then me and understand economy why privacy coins can never be good store of value.

What you are exactly looking for? Current supply of Monero? It's available on coin stats sites, isn't it? Coins on circulation is available. I am now quite confused, hopefully not making confused you as well. May I didn't get what you meant.

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One more example of not store of value Monero. It has some value as a best privacy coin.

Lost almost 90% of it's value so far.

image.thumb.png.c55cd4fc34c7aa2f0e9cd8088a26d82f.png

Ask economists and study literatury to understand Store of Value.

I will not write essays here about it 🙂

 

Bcash lost almost 95% of its value

image.thumb.png.a9c18343ed94e48e8c50ecd226be2f0f.png

 

So far they are just suck value 😂

SuckOfValue

Edited by hexwin

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By this definition Bitcoin also do not have store value. If you ask those guys who bought at the price of $19k plus and those who bought at the price of $1 - you will hear different opinion.

 

Even though Bitcoin has limited supply.

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