undefined | Better HN

0 pointsnabla95y ago0 comments

> Bitcoin ever becomes a more attractive store-of-value or reserve asset than gold

Bitcoin valuation can't increase infinitely. At some point, people want to sell them more than there is demand and the price either stabilizes or collapses.

0 comments

tradri5y ago

Personally, I'm not invested in Bitcoin or any other altcoin so please don't assume I'm biased, but theoretically Bitcoin could increase in value indefinitely.

There will always be people that lose their private keys and the population of earth/universe will (probably) also increase over time.

Therefore, even when all the hype dies down, it is still designed to get scarcer and scarcer over time, regardless of the demand.

smnplk5y ago

I am not sure if this is completely true. Bitcoin core can change via Bitcoin Improvement Proposal process. If 95% of miners vote for a specific BIP it gets into core. Now I am not sure what happens if 95% of miners are in China.

tradri5y ago

Yes, I assume that the core rules will not be changed, which requires an element of trust, making it more similar to FIAT currency than gold in that regard.

j / k navigate · click thread line to collapse

0 pointsnabla95y ago0 comments

> Bitcoin ever becomes a more attractive store-of-value or reserve asset than gold

Bitcoin valuation can't increase infinitely. At some point, people want to sell them more than there is demand and the price either stabilizes or collapses.

0 comments

tradri5y ago

Personally, I'm not invested in Bitcoin or any other altcoin so please don't assume I'm biased, but theoretically Bitcoin could increase in value indefinitely.

There will always be people that lose their private keys and the population of earth/universe will (probably) also increase over time.

Therefore, even when all the hype dies down, it is still designed to get scarcer and scarcer over time, regardless of the demand.

smnplk5y ago

tradri5y ago

Yes, I assume that the core rules will not be changed, which requires an element of trust, making it more similar to FIAT currency than gold in that regard.

j / k navigate · click thread line to collapse