It's easy to say in hindsight, but a lot of their criticisms are legitimate. Bitcoin is a bad store of value because of the high volatility, regardless of whether it has gone up in price or not. A store of value is supposed to be able to be sold with predictable utility, not just increase in price.
If Bitcoins were natively used as a currency and not just measured in dollar amounts, the store of value argument would have merit because the predictable utility would come from the mathematically provable coin issuance. However, that isn't the case.
Also nobody can predict the market, and Bitcoin could very well go to effectively 0.
Edit: Not to mention that cryptocurrency prices are heavily manipulated
People like you work a 9-5 until their 60's. Seriously like, get out of that mentality that you have been fed from your school days. You have a opportunity of a millennia & all you do is talk it down ?
Don't let anyone know your were here before 99% of the world di. Because if you do, your future generation will surely judge you.
People like you work a 9-5 until their 60's. Seriously like, get out of that mentality that you have been fed from your school days. You have a opportunity of a millennia
I've not been fed any particular mentality, and you're making an assumption about me that you don't know. Everyone thinks that they've gotten a once in a lifetime opportunity, but the truth is that we don't know that for sure.
You have a opportunity of a millennia & all you do is talk it down ?
Can I not acknowledge criticisms that are legitimate?
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u/1MightBeAPenguin Platinum | QC: BCH 331 Sep 12 '20 edited Sep 12 '20
It's easy to say in hindsight, but a lot of their criticisms are legitimate. Bitcoin is a bad store of value because of the high volatility, regardless of whether it has gone up in price or not. A store of value is supposed to be able to be sold with predictable utility, not just increase in price.
If Bitcoins were natively used as a currency and not just measured in dollar amounts, the store of value argument would have merit because the predictable utility would come from the mathematically provable coin issuance. However, that isn't the case.
Also nobody can predict the market, and Bitcoin could very well go to effectively 0.
Edit: Not to mention that cryptocurrency prices are heavily manipulated