Will bitcoin become a legitimate store of value or not?

I see no reasons why it shouldn't, it's significantly better than say silver and gold, because it's easier to store, transport and transact with. I imagine in the few years every 0.1% richfag will have a part of their wealth stored in bitcoin because they diversify heavily in case of catastrophes.

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it will not be a legitimate, mainstream store of value until the price becomes stable. you cannot have an asset as a store of value that swings 50% in 3 weeks

for that to happen the market cap would have to become an order of magnitude larger than it is now, which i don't see happening for BTC because of the technological limitations. it will happen for a different coin in the long term.

Do you believe PayPal ever will be a store of value? How about Western Union? Visa? Maybe MasterCard?

If your answer to any of those above is no then you have officially diagnosed yourself as mentally retarded.

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go read a book

First here was Bitcoin. Then came Ethereum. Then came #3, then #4, then #5 and so on. Tech cycle is extremely fast. How can something with an expiry date of 10 years function as a store of value?

I fell for the user and ((their)) tricks and bought in December at 15.7K .
Now I have lost about 50% of everything and I am stuck with a small amount of BTC.

What should I do now? Any plan ideas to at least get back what I put?

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>> implying anyone stores their value in dollars
>> implying centralized services have anything to do with personal storage
>> implying you would risk more than $1k in any of those services

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this is answer to

you are right, the particular coin may switch every few years with the tech (or the main coins might just be updated), but once crypto is fully adopted and mainstream (ie has a market cap in the trillions and is used by billions of people daily) there will at least one currency that operates as a store of value

How long will an apple function as a store of value? How about an orange? Maybe a pear? How long will something with an expiry date hold its value? Can something with an expiry date (such as tech) work as a store of value? Especially software. 1's and 0's with no physical existence.

Do you know what the recycle value of a PC is? It's precious metals content minus extraction costs.

It doesn't need to. Bitcoin is anarchic, it was never meant to replace fiat. It perfectly serves its role as an underground, darknet store of value. This is the real revolution everybody keeps talking about, and even when it plummets back to sub 1k, it will still be extremely useful.

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microsoft stock does not decay even though their technology does, because the team behind it is constantly refreshing. if you had a coin the size of microsoft it could have the staff to keep up to date or even shape the development of the field

explain to me how can it store any value with a low market cap, it doesn't make sense to me

I don't know if you support Bitcoin or are trashing it, but what I'm certain of is that you're retarded

I'll tell you what though, no (((corporation))) invented/owned "cryptocurrency" fraud will ever become a store of value.

"real" stores of value (gold, silver, art, real estate) doesn't have a CEO/Mission Statement/Marketing Department.

>why is a new technology volatile guys

Don’t forget another reason why it’s better than gold, which is a limited supply. Gold is being continuously dug up even after having been used as money for millennia. As its price rises mining becomes more profitable driving the price back down.

Dominance can switch to a coin that is better. It’s called competition and progress, you know. Something fiat will never have as it’s designed to lose value over time.

Truth is that I have high IQ, and most of you have very low IQ, hence why you don't understand.
How much was Microsoft worth in 00? Adjusted for inflation almost 900 billion. Note this was before the recent tech advancement. Microsoft has branched out into many new fields since then, and they have still lost value.

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The appearance of ETH doesn't make BTC worthless. It is the stem of the crypto economy and it will be a store of value with high market cap.

>solar flare or emp
>all bitcorns destroyed forever

>leave gold in a vault
>completely unchanged for billions of years

>store wealth in coin #3
>coin #4 gets introduced
>coin #4 kills coin #3
>what happens to the wealth that was stored in #3?
There is no limitations on cryptocurrency. The limitation is only superficial. It's not real, simply an illusion.
And it makes it impossible for cryptocurrency to ever function as a store of value

Dude you really make me uncomfortable
cringe af

>Leave gold in vault
>radiation happens
>now you have lead

>Truth is that I have high IQ, and most of you have very low IQ, hence why you don't understand.

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the brainlets on here who think Market capitalization has anything to do with currencies are fucking retarded step-children. When you trade FOREX and trade some USD for GBP, do you look at the fucking market crap? What's the Market fucking cap of Japanese Yen? How about the stupid cap of Canadian Dollars? fucking idiots.

but bitcoin is still the dominant sov coin by a huge margin. if it ever does get taken over then you can just write off crypto being used as a sov entirely anyway.

To have low IQ and face facts can probably create all sorts of reactions.

Bitcoin isn't a store of value.

What the fuck.

You are actually a fucking moron LOL

To start off, anything is a store of value, even pebbles fetch a price on the market. The question is what is a better store of value than other things, what retains value or even gains it over time. Bitcoin is replacing gold and fiat because unlike them it has a limited supply and can be sent without government permission. What do you mean by illusion - can you create bitcoins at will outside of the boundaries of its network rules and have them be accepted? No, so your claim is false. If something better and more in-demand than bitcoin comes along, then it becomes a better store of value and the wealth is transferred into that new monetary system. Money like anything is and should be subject to progress. In conclusion, like others have said, you are legitimately absolutely fucking retarded and don’t belong on this board, so please leave.

This.
If you ever have to worry that the newest coin XRapidEtherNano coin will overtake the currently established store of value, or fork #47293 will flippen the main chain, because of "better tech", you can NEVER have confidence that your current "store-of-value" coin will retain that "store-of-value" status in the future, or if something "new" will eventually overtake it.

If anything ever overtakes bitcoin, cryptocurrency as a store-of-value will forever have that "obsoletion" risk, and the BIG money (billionaires, institutional money, etc.) will NEVER take that risk and thus never use cryptocurrency as a store-of-value.

If bitcoin fails to establish itself as a store-of-value, the "global experiment" of crypto-as-a-store-of-value has failed.

No, anything isn't a store of value. That goes against the "store" part of the "store of value" concept. Maybe you should look up "store of value" in a dictionary before you write your next post.

And so we come to the conclusion that Bitcoin isn't and indeed can't be a store of value simply because the scenario that something better comes along is too great for anyone with high IQ to "store" his/her wealth in Bitcoin.

We need the OC to make the skin not sparkle, then this gif would be perfect

Dayum that's brutal

I think I will have to hold for the next 10 years and wait..

I mean the cat, not the 50% loss. That's understandable after fomoing.

If you've got enough btc to diversify, get in on LINK, REQ and NANO in descending order. If you're left with just enough btc for one mission and have to go all in, make it LINK.

Don't sell, don't trade just hodl for a few months and cross your fingers.

At least you're not a cat that let a mouse eat his food and did nothing, broseph

Seriously, that's the most disgusting thing I've read all day

There will be no competition to Bitcoin ever though. Some say its "old tech" and yet it the most secure and most powerful computer network in history by a factor of 500. To be a store of value you don't need it to be the fastest or to have multiple functions,
You need it to be
THE SAFEST.

im not gonna say better than bitcoin, but it is

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"In 2016, the Japanese currency in circulation was valued at approximately 107.2 trillion Japanese yen"
multiply with USD currency and you get market cap.
All currencies have a specific amount of money circulation, their market caps are just so big that their values don't change much. And also comparing different countries market caps is kinda irrelevant.

I should have known better before I try to play with buttcoins. It moved exactly like stocks. After it goes 'public' it's over. It will crash like shit. You gotta buy at the smart money phase.
It's ok. It was $250. I have $126 BTC now..

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I have $126 BTC now.. Only the transfer costs will fuck me up.. I will hodl.

Or find something else and go all in on it. I will look into LINK.

Sell now and buy back in if it goes up again. Back to 15k looks unlikely in the short term and there is a chance it goes to 4 or lower

You should invest in a more promising coin that have large market cap.
ETH, NEO, GAS, BNB and ADA seem good.

i could change to ETH but it seems it went the same way.
Till January went up and up and now went all the way down.

You are retarded if you don't appreciate just how much Bitcoin has actually managed to mimic gold and that it will probably become a legitimate store of value like it. It isn't deflationary like Ethereum, it doesn't have a founder (that we know of and hopefully will never know of), it was the first

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It already is.