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Glossy

Bitcoin as a store of value

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On 9/29/2019 at 6:09 PM, 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.

I dont exactly know about it.and how it really works.all i know is bitcoin is a decentralization coin that why the price is not stable and it change every now and then.but its gonna make me curoius about youre questions

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I don't think of Bitcoin as a store of value because bitcoin is always volatile and risky and unstable here.

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On 1/7/2020 at 7:49 AM, Lifeman said:

This what they mean by as a store of value, so we keep it for the price to have more value than before

Mainly if you store your all asset investing on btc then i think you can get a good profit without doing anything. just need to hold it to any safe place.

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It's not quite ready to function as a store of value. The price would have to become stable first. Maybe that will happen if it becomes too illogical to increase the price of bitcoin in a few decades.


Why are you looking for another faucet in signatures like mine, cryptotalk is the best earnings site. 😉

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As most analyst say Bitcoin should be treated like gold as a stored value and not for everyday transaction. That why we have altcoins that offers much faster transaction and cheaper fees compare to bitcoin.

 

So if you want to diversify your wealth and secure your money against inflation, bitcoin is one of the best options to secure your wealth together with gold and silver.


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On 9/29/2019 at 3:09 PM, 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.

If we store XRP,XLM and LTC they can gave us good profit.Bow their price is low but can be higher  in future.And they are acceptable on every form.So if we shift from BTC we can store more coins which can be useful in future.

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At present, Bitcoin is being used as a store value in many places and one of the reasons is that they have already realized that in the virtual currency world Bitcoin is more powerful than Gold and its community is more potentMore powerful is like gold but its supply is more limited than this, and because of its high demand in the market, its price is high and it is understood that Bitcoin is more and more frequent.
General Chat Chat LoungDifferent banks currently store bitcoin as a good store

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In my opinion Bitcoin is not a store of value because its value changes day by day. Bitcoin is trading and investing and the repository I find is not so right

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6 hours ago, yoasswbi21 said:

Bitcoin is a digital currency and gold is a physical value. BTC is the most valuable currency in the cryptocurrency market. and we profit from them

yep i agree with you. I think Bitcoin is a crypto that has the "safest" price because all cryptocurrency (altcoin) refers to the price of bitcoin.

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Bitcoin might become a store of value but still this needs way too more time than 10 years to be validated. Gold exists for thousands of years and it is used this way. Oil perhaps isn't one either. Cryptocurrencies and Bitcoin are mostly speculative aspects and you can notice this by the time most of people here are rushing to sell and profit in fiat. This will change if we ever see mass adoption and usage of Bitcoin. If it remains a speculative asset there won't be much in it for the future. Sadly since everyone only cares about the halving and profits it is kept promoted like a get rich quick scheme.

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The Bitcoin status as a store of value is one of the biggest problems. The utility of Bitcoin as a value store depends on its utility as an exchange medium.  Bitcoin is not backed by physical commodities and valuable metals, as are fiat currencies.

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I prefer bitcoin, because altcoin prices are too unstable and based on my experience precisely altcoin prices go down and make a loss 😅

Edited by Sid

 

YOUengine-cryptotalk.png.2ca158a48ed925f2af8f14fc1863c423.png

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4 hours ago, Sid said:

I prefer bitcoin, because altcoin prices are too unstable and based on my experience precisely altcoin prices go down and make a loss 😅

I am agree with you. btc price may go down but its price will increase any time we know that. we all trust btc  much and it has a bright future

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Bitcoin No institution, country, or organization can increase the amount limited to 21 million Bitcoin units. And the market reached 80% of the total number of bitcoin. This made the notaries of the coin (the two miners) find it difficult to mine it. Which leads to her vow, and vowing something means high value.

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On 9/29/2019 at 6:09 PM, 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.

Yes there’s a lot coin that is good to hold but I will stick with bitcoin because it’s safe to hold it and you will make sure that the price will go up unlike the other coin.

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Monero is my second favorite right after Bitcoin.

I think that Monero will some day be second in market cap as I see it as the only reasonable altcoin that has adoption and an actual use-case. Somehow too many useless coins are still above it but this will change soon.

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On 9/29/2019 at 3:09 AM, 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.

Well we do not trust that kind of coin many coin this day that can be control it is somehow that it is impossible but it is possible so be wise.


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Bitcoin is a great choice as a store of value. Rather it can also be used as an investment when its price is a little down. 

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On 10/10/2019 at 11:10 AM, Consignee said:

Leave the part 1 bread/1 sat, with LN, we will be able to send single sat? or not. People are testing LN already. What's the minimum amount can be sent with LN. Currently the minimum amount is 300 sat or so if I'm not mistaken.

There will must to be gigantic costs on marketing the project and its capabilities. Libra doesn't necessitate that to grow in the community.

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On 2/1/2020 at 8:10 PM, IceChallange said:

I think people prefer both of them. Some people prefer using Bitcoin as an investment and don't want to use it like fiat money much. Some people don't see Bitcoin as investment and they just want to use it on activities like shopping etc.

It all depend on person  but one thing is clear BTC is valuable for people they want BTC in their wallets .So they don't have to carry around fiat currency.Investing BTC gives you profit and using BTC gives you free from unnecessary  taxes.

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The price of bitcoin is currently not fixed, so that its dependence as a source for storing value is a little risky, but bitcoin has a high price for that, which can be stored for profit.

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On 9/29/2019 at 11:09 AM, 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.

I think gold here should be actually categorised as a store of value not Bitcoin because value of gold will still remain even for a hundred years to come unlike bitcoins that drastically drops

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On 9/29/2019 at 3:34 PM, 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

I don,t think so that anyone person will track the coin or anyone know that which coin will send in which type of wallet and this is true thats why the peoples will make great transactions with low fee and we can make good money through this.


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On 9/29/2019 at 6:09 PM, Glossy said:

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

Well, for me i will store my assets in bitcoin and i will only buy at dip price so that i will get more profit when bitcoin price start to increase.

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