Oddbean

Of course it's about the store of value. That's all money is. How else would they use Monero? I'm not taking a smile and a wink as payment. And I can't teleport gold, and gold is a worse store of value anyway.

"gold is a worse store of value" I think we haven't the same definition on store of value. I think Gold (& Silver) is the only good store of value because: - Gold is untouchable, we can't modify it // Bitcoin is a human invention, it can be modified and it was many time already - Gold have no dependencies // Bitcoin constantly need electricity and internet - Gold don't care about any regulation, hack, bug, conflict, shut-down, catastrophic event // The first thing downed in modern war is telecommunication systems, phone, internet, electricity, if you are in a war or catastrophic zone, there is a lot of probability you will don't be able to access Bitcoin, that mean when shit happen, you can't rely on Bitcoin A store of value is not something that will 100x in a year or even keep value against inflation, it something that will preserve your wealth at any time, peace or war, communism or capitalism, democracy or tyranny... Bitcoin is one of the best investment of the decade for sure but it will never be a store of value, it's just impossible, simply because Bitcoin depend on electricity & internet. What will happen if Internet became heavily monitored and access to the Bitcoin network impossible ? What is going on China or north Korea for example ? How will it be in 10 - 20 - 50 years ? I know Gold will be here, I'm not sure about Bitcoin, that's the difference, that's why Bitcoin can't be a store of value

Assuming we'll always have electricity and global communications, which I think is a safe assumption for our lifetimes, then it's a better store of value than gold, because gold is mined at 1.8% per year. That's why the fed claims to have an inflation target of 2% (though it's way beyond that, and in reality way beyond what they even claim). So the amount of gold that exists doubles about every 40 years. The point of Bitcoin is that it doesn't do that. That's why I say it's a better store of value than gold. But if you calculate the risk of mass EMP to be higher than I do, then you'd prefer gold. In that way, Bitcoin is a bet that we'll always have electricity and a way to communicate, with only brief and localized exceptions.

Sorry, you were mislead by Bitcoin influencers, podcasters, and saifedean acolytes https://image.nostr.build/3d7a8b836098ef9b09f31bf7510fe0ca0fa8859b5f8b263dceeb42dfb2a497c8.jpg https://image.nostr.build/ccf181ed168942446d16535fa01942fcb9f471b7b689c9d9f8d12839df0b629c.jpg https://image.nostr.build/18459d728b1bbad4099cbb2f4980c06c22d12274dd46812fa098daf0fa16cca0.jpg https://image.nostr.build/0f0150dfab9b18705528d59b928e44fada6843c483f95cb5f4717ffb91140f85.jpg