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10930102 No.10930102 [Reply] [Original]

It's confusing, because "store of value" doesn't even require any real technological innovation to be a thing, all it needs is a scarcity mechanism and group consensus that it makes a good store of value. It could be gold, bitcoin, thomas kinkade originals, first edition mickey roonie baseball cards, whatever. But "store of value" is, in the cryptospace, unironically the only mature use case for the technology as well as by far the use case with the most money/potential money backing it. Everything else is highly speculative, immature, and far from certain to gain adoption or widespread use.

This is why salty alties are going to stay salty, because they've fallen for the altcoin mirage of whizzbang disruptive tech like smart contracts, dapp platforms and utility tokens. Even if some of these find a niche and eventually thrive, in very few cases is there a compelling mechanism for the underlying token to appreciate in value. Altcoiners are literally "in it for the tech" reddit-tier cringe. Meanwhile accepted store of value currencies like BTC and XMR can just sit there and be boring and not do anything interesting ever, but still are going moon without limit as all the world's old money comes to accept them as this millennium's answer to gold and other traditional value stores.

>> No.10931183
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10931183

>>10930102
>mickey rooney baseball cards

>> No.10931349

Its interesting right? But thats why bitcoin is the best for that purpose. It can easily be transfered to any wallet to be used by anyone in the world instantly, unlike physical goods. Unlike say baseball cards where the distribution is centralised by a company, anyone can start mining bitcoin with the same algorithm, and that makes it provably fair and decentralised.
I think that is the genius of it, because the value in bitcoin as a store of value compared to gold is fairness and usability

>> No.10931398

>>10931349
You Are fucking stupid. Bitcoin is the polar opposite of a store of value. If you bought bitcoin at 20k you would have been better off putting that 20k into casino chips for the last 8 months.

Gold is a store of value because it's REAL money and REAL savings.

The reason that people are throwing their money into crypto is because the dollar has problems and is dying. Unironically because gold doesn't back it anymore.

There is ZERO problem with gold as a store of value.

>> No.10931406

>>10931349
Moreover, if everything goes digital with crypto.... and fiat ceases to exist. It won't change the value of gold at all or make it any less worthless.

Remember... it is GOLD that gave value to the dollar...

If they started issuing dollars 200 years ago backed by nothing.... Americans would have told the banks to fuck off

>> No.10931914

>>10930102
>scarcity mechanism and group consensus

The scarcity mechanism is much less important than group consensus. If a part of the group decides Bitcoin needs to develop in a different direction and decides to make a fork or they move the store of value to a different asset, then the scarcity mechanism is effectively circumvented. You can't enforce group consensus because that would defeat the ideals of Bitcoin in the first place.