A store of value doesn't equal a risk off asset,
I'm here to learn and I want to better understand this. So just so that I have this straight - you are saying that bitcoin is not a currency and you believe it to be a very bad store of value? Is that your thinking?
Now now! It's been pointed out to you that personal commentary is not appreciated. This afterall is a discussion - not of me or you - but of the subject.I don't know why you needed to deflect instead of just answering the question.
That honesty is shining through - I commend your thirst for learning. It's truly a sight to behold.I'm honestly trying to learn how you view and value it given our differing opinions.
Uff! so close. You had me at 'honestly' ...and yet despite my yearning to agree with you, I'm very much struggling here. So we daren't observe how things develop? Oh dear. I mean if you're holding a gun to my head, I guess I better offer an opinion? But it appears my opinions are rhetoric. Riddle me this:At the end of the day all of this 'give it time' rhetoric is just opinion and can't be proven.
- Are your opinions rhetoric?
- Are @Brendan Burgess , @Duke of Marmalade 's opinions 'rhetoric' when they say that bitcoin is going to zero come what may and that there isn't even a zero % chance of there being any other outcome? I'm honestly trying to learn how you view and value that - given our long standing differing opinions. Perhaps they form opinions that 'can' be proven in this instance? Is that your understanding?
By contrast little old me offering to see how it turns out has been found guilty of presenting with an incredibly indecisive opinion that apparently...can't be proven!? Well I never! I'm learning so much already.
Just on a related point, in the past I've been guilty of suggesting we should park certain aspects of the subject up or 'wait and see'. Some folks don't get the social cues but it's a polite way of saying we've expressed our opinions and so we don't need to restate them and leave it there. I mention that as it seems to have upset you in the past.
And just for the record vis-a-vis my overall opinion...as I've stated many times at this point, I'm quite happy to accept that bitcoin could crash and burn and never be heard of again. Whilst that's not my current thinking in terms of a likely outcome, I consider it prudent to acknowledge unlikely outcomes. I also believe it useful to continually review and reserve the right to change my opinion as and when the facts change.
Oy veh! The volatility - right, got it! So the $100 worth of btc of yours? Will you be divesting that toot suite what with bitcoin being a lousy currency and lousy store of value?Bitcoin is not an effective currency today because of its volatility. A main trait of a currency is that it has a steady value. I know my $100 today will be worth $100 tomorrow and in these increments of time inflation isn't a factor. With Bitcoin I don't know what my $100 will be worth tomorrow.
It's uncanny you should bring this up. I was only saying to Ana Mercedes at lunch that I could have sworn the pupusas were 36,000 satoshis each on Thursday and there she was charging me 38,250 satoshis. That pesky inflation!As goods are still purchased in fiat, bitcoin also is impacted by inflation.