This graph says Bitcoin is up something like 500x since 2013.
That isn't a store of time, it is a speculative return. Gold, silver & the US dollar all did pretty much what they are advertised and expected to do (go flat, flat and steady down in value respectively). Nobody knows what Bitcoin is going to do next.
What Bitcoin does has nothing to do with storage. Obviously we'd all rather have had Bitcoin from 2013 to 2021 than storage, but hindsight makes these decisions easy.
A PoW coin with forever fixed block reward is a store of mining time. In a coin with a 1 minute blocktime and 60 coin block subsidy, each coin represents exactly one second of mining.
Every position is more or less speculative. This is why "asset management" is a thing.
Nobody knows what gold or fiat is going to do next either:
- Fiat can be advertised in whichever way but ultimately there is no guarantee things will behave the same as it's centrally planned. The pandemic triggered unprecedented action from the money printer.
- Producing more efficient ways of mining gold, discovering new reserves on the planet or outwith will trigger a re pricing of gold's value.
The only meaningful horizon is time, and so far Bitcoin is doing well.
roenxi|5 years ago
That isn't a store of time, it is a speculative return. Gold, silver & the US dollar all did pretty much what they are advertised and expected to do (go flat, flat and steady down in value respectively). Nobody knows what Bitcoin is going to do next.
What Bitcoin does has nothing to do with storage. Obviously we'd all rather have had Bitcoin from 2013 to 2021 than storage, but hindsight makes these decisions easy.
tromp|5 years ago
tom_mellior|5 years ago
disruptalot|5 years ago
Nobody knows what gold or fiat is going to do next either:
- Fiat can be advertised in whichever way but ultimately there is no guarantee things will behave the same as it's centrally planned. The pandemic triggered unprecedented action from the money printer.
- Producing more efficient ways of mining gold, discovering new reserves on the planet or outwith will trigger a re pricing of gold's value.
The only meaningful horizon is time, and so far Bitcoin is doing well.
cj|5 years ago
I know very few people who store their excess income as cash (or Bitcoin, or gold).
AlexKaul|5 years ago
pwinnski|5 years ago
Cobragri|5 years ago
ForHackernews|5 years ago
disruptalot|5 years ago
brulard|5 years ago
itsdsmurrell|5 years ago
puddingnomeat|5 years ago
unknown|5 years ago
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