bitcoin isn't a store of value

[Anonymous No.24713526]

The medium of exchange is the tool that facilitates the indirect exchange system, which we created as a solution to the inefficient barter system.

Instead of having to 'sell' the good that you dont want directly for the good you do want to 'buy' (barter), you can now 'sell' the good for another good(the medium of exchange), and then 'buy' the goods and services you want with the medium of exchange.

For this to work, the medium of exchange(money) must be a useful commodity that can retain consistent tangible value and utility, and therefore always have demand from others who are in turn looking to exchange their goods for said commodity (now the means of exchange). One of the most important benifits of this is that the medium of exchange can now act as a 'store of value', where 'purchasing power' can be stored in a commodity that can reliably be predicted to retain value over time.

Many commodities have been used as the means of exchange throughout history, but the free market has determined Gold and Silver suit our purposes for a means of exchange best.

Crypto currency fails as a means of exchange as it is not a commodity with any utility in and of itself, therefore cannot be a store of value. Despite its advantages over commodities in a digital sense, it is still expensive, slow, and difficult to use(relative to other mediums)

[Anonymous No.24713536]

>>24713526
I must point out the despite the beliefs of the crypto investing public, cryptocurrency is still plagued with the primary problem that baseless Fiat money has - and that is not infinite supply cap, but the simple fact that it has no tangible, inherent value in and of itself.

They will argue that its inherent value is that it's a 'superior means of exchange to anything else', but this is folly, and rooted in economic ignorance. It is no surprise, considering for the past 100 years+ the general public has been kept totally ignorant of even the most basic economics i am describing here.

Cryptocurrency certainly is superior to Fiat in its qualities, the most obvious being a limited/predictable supply. But unfortunately this is not enough, and ultimately time will prove it to not be adequate when capital flight flees from crypto and into a genuine store of value, precious metals.

[Anonymous No.24713840]

>look mom I posted it again
go post it on reddit, if you haven't realised half of this board has gotten insanely rich from this thing that "isn't a store of value"
Cope, seethe, dialate. saged

[Anonymous No.24713878]

>>24713526
>>24713536
What inherent value does gold have?

[Anonymous No.24714558]

>>24713878
what inherent value does wheat have? what inherent value does copper have? what inherent value does iron have? each commodity has unique properties that give them certain utility and applications, and are all necessary for the function of any economy. golds qualities make it perfect for a wide array of industrial applications, but because it is so rare, it is hoarded and has come to be used a means of exchange. https://en.wikipedia.org/wiki/Gold

>>24713840
>if you haven't realised half of this board has gotten insanely rich from this thing that "isn't a store of value"
>half this board has gotten insanely rich

top kek. not an argument

[Anonymous No.24714990]

>>24714558
gold is replaceable and you cant buy anything with it

[Anonymous No.24715439]

>>24714558
imagine comparing useful things like wheat (something we can eat) and iron (something we can use to make tools) to gold (something that has no inherent value that we use for nothing but pretending its worth something on the market). It is the same thing but gold is more expensive and less efficient

[Anonymous No.24716088]

>>24714990
>>24715439
If you needed further evidence that you should never listen to anyone on /biz/, look here, because these are the sort of people giving you 'investment' advice.

The only reason gold is NOT used widely as an industrial commodity is precisely because of its scarcity. They are called 'precious metals' for a reason.

You obviously haven't read the OP, because I have explained that the utility, yet scarcity of precious metals make them the perfect store of value.

Also

>You can't but anything with it

The only thing you can buy with bitcoin is more speculative vaporware.

[Anonymous No.24716133]

>>24715439
>Gold has no inherent value but wheat and iron does

What a fucking idiot

https://geology.com/minerals/gold/uses-of-gold.shtml