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Peter Schiff Expressed: Now Saylor claims that Bitcoin isn’t a digital currency, but a digital asset. But if it’s not a currency, what value does it have as an asset? The original value proposition of Bitcoin was that it was a superior currency. If Bitcoin isn’t a currency, it’s an asset of zero value!
Community Reaction: That’s not true Peter, it is a great store of value just like gold.
Bitcoin is not a store of anything. You can’t store what you don’t have.
It will have value when it is fully distributed to the people who use it, for now it is only speculation of big “whales”, just look at these big market crashes.
And why is gold a store of value? Because of its consistent historical utility as a currency.
It first of all is a commodity, that makes it a possible money. And it has also properties that make it a good currency.
Gold isn’t a great store of value though. It’s the same price it was 10 years ago that means it’s losing vs inflation.
Ned Stark on bitcoin: ” You serve as store of value well when serving was safe.”
Something that can be shorted with 125x leverage and crush 40% in hours or 80% in a week, correlated to stocks isn’t a great store of value.
You crypto sheep still aren’t getting it. Even Craig Write who claims to be Satoshi says is just a hype bubble full of gamblers. Wake up Bitcoin maxi’s you are being played.
Gold is a crappy store of value. Bitcoin is better, it’s the hardest form of money.
BTC failed as “A Peer-to-Peer Electronic Cash System”, then narrative of BTC has changed to Store of Value which is a marketing BS. There is no social consensus behind it and it doesn’t behave like we expect from a SoV asset.
Stores of value does not go up 150% in a year, nor do they drop 20% overnight.
Price is what you pay, value is what you get. What value do you get that is stored in BTC when u pay 50k for a BTC?
Dude can’t remember a password. He is just not going to make it.
Gold requires constant energy and semi-conductors to exist. Bitcoin doesn’t require constant energy and requires no semi-conductors. What don’t you get?
I have a riddle for you. Is not a currency. It is not a money. It is easy to trace, but the price will always go up. What is this?
Real estate is not a currency, are you saying it has no value? It has tremendous value. You can shelter your family, host the holidays, and keep the bad guys from taking your stuff. No on an empty parcel of land. The value of an empty parcel of land is the option to build a home, or to grow food, or raise animals, or other tangible goods.
If gold is that amazing as an asset why do you need to continue to pound other assets? Just promote your Ponzi scheme, nobody wants to buy in gold. Gold is much a ponzi as you describe other assets. You got in early so it only benefits you old man.
Wait where can I go and pay for something with a gold coin, a golf nugget, an ounce of gold, or a bar of gold? Besides, Saylor explains Bitcoin is digital energy, so you’re wrong there, too.
Gold has its days numbered, there is more gold out there. when technology develops, gold will be one more mineral.
Bitcoin has a schedule of 21 million and there will be no more than that. So which of the two is doomed to disappear?
Look guys no one is denying you can make money and retire from crypto. But let’s not act like 97% of tokens right now won’t be here in a few years. Peter is partially right.
