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RE: Store of Value vs. Exchange of Value

in #busy5 years ago (edited)

First of all this is a big debate on twitter? The last time i was on crypto twitter this was a debate months ago aka I just visted crypto twitter an hour ago lol

This is just talk like pow vs pos. No can win bc of ideology.
Right now twitter is talking about the hashwar and making fun of initiative q.

Now to the issue you said:
Depends on what economic philosophy you follow.
A store value based on hard Austrian economics is this:
Trusted
Old
Proven
Universal
hard to make
low supply

Gold is one of them.
Gold is a store of value that hard to move, expensive to make, and not really usable as a payment system.

Bitcoin also follows this.
Bitcoin is old,trusted,well known. It has a low supply.
POW makes it hard to make.
A store of value does not have to be fast. It can heavy and expensive.
Gold was hard to move but second layers such iou made it easier to transact. Bitcoin has the LN which is a second layer.
The difference is that the LN trustless and can't make fractional reserve happen.
By these logic Bitcoin is the better store of value in crypto.
The Bitcoin Standard talks about this view in depth more.

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Yeah, you make some good points. Personally, I only hold bitcoin to trade with.

🤷‍♂️ Not everyone holds gold either-still doesn't stop it from being a store of value :P