Downvoted for facts? This place really is turning into fucking Reddit.
It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
It's essential that a real "digital money" preserve privacy anyway. Monero / ZCash seem far better. But onroading people onto BitCoin is helpful short term (harmful long term)
Without private transactions, the government will simply create blacklists and tell exchanges & miners that they must refuse to do business with certain blocks/wallets.
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
if you don't like BTC or ETH, you can use a dozen different stablecoins that are readily tradeable. stablecoins are pegged to mainstream fiat, can get it on any major fiat currency. have to stick with ones issued by audited issuers though, or there's no proof they actually have the currency to redeem it and you'd just be a bag holder.
the real issue is that you need to keep it in a private wallet, not on exchanges. private wallets cannot be frozen. exchange accounts can.
BTC loses too much value in a day to be a good store of wealth.
Downvoted for facts? This place really is turning into fucking Reddit. It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
It's essential that a real "digital money" preserve privacy anyway. Monero / ZCash seem far better. But onroading people onto BitCoin is helpful short term (harmful long term)
I think it's far more important that it isn't controlled by a central authority, which could seize funds, than transactions being hidden.
Without private transactions, the government will simply create blacklists and tell exchanges & miners that they must refuse to do business with certain blocks/wallets.
bitcoin has become a cult. its going to go up 500% any day now. you just dont know how to trade them, retard
It’s gone up a lot more than 500%.
Once? and then it crashes for a long while. Its mostly traded by suckers atm
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
Yeah I think thats what some of these people are thinking when they say "a store of wealth".
If you were trying to use it as a store of wealth, you would have done nothing but gain value.
if you don't like BTC or ETH, you can use a dozen different stablecoins that are readily tradeable. stablecoins are pegged to mainstream fiat, can get it on any major fiat currency. have to stick with ones issued by audited issuers though, or there's no proof they actually have the currency to redeem it and you'd just be a bag holder.
the real issue is that you need to keep it in a private wallet, not on exchanges. private wallets cannot be frozen. exchange accounts can.
You don’t measure a store of wealth by day to day values. Is the dollar a good store of wealth?