undefined | Better HN

0 pointsceejayoz8y ago0 comments

> But as a store of value, it's actually pretty good.

It's got a pretty short, volatile history to be deciding that.

0 comments

also much more difficult for average person or even gigantic corporation to secure than a physical good e.g. gold. And coins change over time with forks n crap, gold just stays gold.

nicky08y ago

It's very easy to secure. Just generate a private key offline and never tell it to anyone.

y4mi8y ago

Gold is very easy to secure. Just dig a hole and throw it in. Nobody will find it if you don't tell anyone about it.

Seriously! A digital key is NOT easier to secure than a physical one. If anything, it's harder.

Gold only becomes hard to store if we're talking about huge quantities

2 more replies

mirimir8y ago

Over the past ~7 years, the price has increased by ~10^5. There have been some bubbles, for sure. But all that has paled over the past year. The price could crash, certainly. Still, if futures become available, it could spike a lot higher before it does.

wpietri8y ago

And this is exactly what makes it a terrible store of value. As Wikipedia says, "The point of any store of value is risk management due to a stable demand for the underlying asset." Stable demand is definitely not a characteristic of Bitcoin.

sprafa8y ago

one word: gold

no reason it stores value outside of the fact that we all agree that it does, and we all accept it for curreny. Bitcoin is at that point. It's turning into digital gold.

I agree with the original commenter. Looking at Bitcoin as a currency with terrible UX kept me from investing for the past years. Now it's going past inflection point - it's a store of value that will be acceptable everywhere soon.

1 more reply

mirimir8y ago

Yes, demand has overall increased dramatically since 2010. And it's still increasing. Perhaps dramatically. You can characterize that as unstable, if you like. But given that my mean cost basis is well under $1K, it's stable enough for me.

charlesdm8y ago

How much did the value of Peter Thiels Facebook stock go up since he initially invested?

mrb8y ago

«the price has increased by ~10^5»

Actually more than 10^6: http://bitcoin.zorinaq.com/price/

j / k navigate · click thread line to collapse

0 comments

zzzzzzzza8y ago

also much more difficult for average person or even gigantic corporation to secure than a physical good e.g. gold. And coins change over time with forks n crap, gold just stays gold.

nicky08y ago

It's very easy to secure. Just generate a private key offline and never tell it to anyone.

y4mi8y ago

Gold is very easy to secure. Just dig a hole and throw it in. Nobody will find it if you don't tell anyone about it.

Seriously! A digital key is NOT easier to secure than a physical one. If anything, it's harder.

Gold only becomes hard to store if we're talking about huge quantities

2 more replies

mirimir8y ago

wpietri8y ago

sprafa8y ago

one word: gold

no reason it stores value outside of the fact that we all agree that it does, and we all accept it for curreny. Bitcoin is at that point. It's turning into digital gold.

1 more reply

mirimir8y ago

charlesdm8y ago

How much did the value of Peter Thiels Facebook stock go up since he initially invested?

mrb8y ago

«the price has increased by ~10^5»

Actually more than 10^6: http://bitcoin.zorinaq.com/price/

j / k navigate · click thread line to collapse