Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
This is just grammar mate. Nothing has intrinsic value in itself. Value is only value if it is percieved as value.
BTC crashes again
- Thread starter Coinaire
- Start date
- Apr 3, 2019
- 600
- 768
Would you say it is “just grammar” with barter items in barter economy? If we would trade with food, that has value, so do metals, etc… I know barter items are not currency, I guess metal coins come as close to the actual currency while retaining real value, as possible.
But I see your point. Food has greater value to a hungry person.
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 717
No, look, I don't see BTC as money, more like an artwork, that's why I said it represents blockchain. Buying Bitcoins is like buying pieces of original Mona Lisa. That's all.
I am pretty sure it won't be used as currency, there will be other cryptos to do that better. Probably will be used in universities to teach students how it was in the beginning of blockhain era or something lol
You've answered your question by yourself. BTC is a store of value in the crypto world, like gold is for fiat. It was the first one and everyone will trust it to store their money in it no matter how much it dips.
It's hard and costly to move and store gold, but people are still buying it.
The real estate prices are 60% up for the last 10 years. Gold is up 20% for the last 10 years. BTC is up 100% for the last 5 years even if you bought at the top at 2017 and sell now at 40K.
Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
Well times are changing. There was a time I used Bitcoin as money to make and receive payments - until discovered cheaper and faster altcoin cryptos. I cant fathom making payments with it now with its crazy fees. Its not even on my radar for investments either. Altcoins take the cake here. So Bitcoin really is being driven now by traditional investors new to the cryptoverse. Thats my honest opinion.
Maverick1111
BANNED
- Jul 6, 2017
- 2,480
- 679
Hold on, just money is shifting here to there, I don't have single coin, but I know stock market so I can understand.
Man of Action
Registered Member
- Feb 2, 2020
- 74
- 73
I'm definitely not a crypto advocate. Cryptos can have value in the same way that payment processors have value, through the value of the service they provide.
They can also act as a bank account for people living in countries with unstable currencies or banking laws. For instance, I'd rather have money in a portfolio of stable coins than Venezuelan Bolívars.
WorkingNow
Regular Member
- Feb 27, 2018
- 455
- 245
Fiat = Crypto as long as tether exists.
Honestly if btc falls too much like it seems to be now and trends below say 30k for more than a day tether will implode, you will see some major discounts when that happens. I imagine most whales and institutions will be out by then, just make sure youre not holding the bag.
Honestly if btc falls too much like it seems to be now and trends below say 30k for more than a day tether will implode, you will see some major discounts when that happens. I imagine most whales and institutions will be out by then, just make sure youre not holding the bag.
UnknownJones
Registered Member
- Feb 14, 2021
- 70
- 13
Time to trade in some of my btc for some hardware before the real crash
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 717
I wouldn't dismiss Bitcoin completely as investment, although I'm not quite in tune with this new narrative "store of value, electronic gold", I think Bitcoin can grow a lot in time. Let's not forget who's the party starter for crypto bullruns. Also, every single crypto out there is traded for BTC. There is always at least a Shitcoin-BTC pair on exchanges. Maybe no FIAT pair, but definitely BTC pair.
So, you can say alts are "backed" by BTC, somewhat like Gold standard in the past for Fiat.
Whatever real world use cases (and ultimately value) altcoins have, a share of that value goes into Bitcoin as well.
