Why do people say bitcoin is a "store of value" similar to gold? I'd much rather own gold long term

This is propaganda that the BTCniggers came up with when BCH split to scale better and proved that it scaled better. The only route left to argue for the BTCniggers was that their """digital cash""" wasn't actually supposed to be used as cash but instead as digital beanie babies. Michael Marquardt and the fucking Stasi censors that own every BTCnigger forum pushed this propaganda. Only later did the BTCniggers decide their lie didn't fucking work and that instead of digital beanie babies they wanted to swap digital deeds to digital beanie babies, and hence the lightning vaporware was born.

both are useless, one is imaginary memes the other shiny rocks. The only real money is fiat, backed by actual governments and militaries and companies that produce actual products and services

>Bitcoin relies on the dollar.
nah you are stupid

The primary function of money is to measure value of goods exchanged for it. That's what money is... a measure of value...

Bitcoin doesn't measure shit. Gold measures value perfectly.

If bitcoin doesn't rely on the dollar then why the fuck are people pissed off that bitcoin went from 20k to 3k? And vice Versa ....... why did people get all excited when bitcoin went from 2$ to 20,000$? If it doesn't rely on the dollar? Square that circle for me fuckhead

If bitcoin didn't rely on the dollar then nobody would give a shit about its dollar price you braindead nigger

You autistic fucks are stupider than shit

>Bitcoin relies on the dollar. Gold does not rely on the dollar.

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it's a hundred times more easier to spend btc in retail than gold get fucked you idiot!
>Bitcoin doesn't measure shit. Gold measures value perfectly.
completely arbitrary and baseless statement sure sign of brain damage

Baseless? Gold has been money for milennia. You can go read the Bible and read a passage saying that 1 ounce of gold bought you 350 loaves of bread 2,500 years ago.

If you take a gold ounce to a coin shop you'll get $1,250 for it and if you take that $1,250 to a grocery store you'll still get roughly 350 loaves of bread with bread being about 3.50 a loaf.

And it doesn't matter if it's easier to spend. The currency has to have a basis of value and be backed by real money you fuckhead.

They made the dollar so it was easier to transact but the dollar represent gold you fucking idiot.

Then why does the dollar price of gold matter if it doesn't rely on the dollar?

If the dollar goes to shit and becomes worthless what is your bitcoin worth?

If the dollar goes to shit my wealth in gold is completely protected

the store of value is just cope. it is a peer to peer electronic cash system, the problem is that governments and banks already provide us with better cash systems.

retards look at the declining purchasing power of the american dollar over the last 50 years and think this matters. in reality it means nothing because it does not take 50 years to transfer the value.

the modern, centralized, systems available to us are either already instant or soon to be instant, with reasonable fees in exchange for safe, secure and guaranteed transfers with high assurance the intended value will actually be transferred. with bit coins that value can change significantly by the time the transfer even completes. it is literally the same level of certainty as you would get if a transfer of trusted, valuable fiat currency had to be physically transported by a ship that took 10 years to reach its destination.

people just want to be paid for their hard, honest labor so they can in turn exchange the value for the goods and services they want. nobody is interested in holding cash for any length of time, they are literally so disinterested in this that they try to exchange as much of it as possible in advance of even receiving it.

because of these realities the delusionists pivoted to the store of value larp. they carry on about retarded characteristics like anonymity and fast transfers, these things may apply to a cash system but have literally nothing to do with storing value, why would anybody care about transferring what they are storing. store of value, as a meme, was a success, but now the true eraser of value is exposed.

1000 times this

And all governments are making anonymous money besides physical cash eseentially illegal due to counter terrorist funding laws

CME bitcoin futures created an unlimited supply paper bitcoins

bitcoin is quite the opposite of a store of value. So much so that it's down over 80% in less than a year.

Because they're trying to cope with the fact that it cannot actually fulfill its original goal of acting as a currency due to scaling problems.

The problem is, once you have more money than you can spend. What do you do with it? That's great I can send you $5 instantly, but what if I have it now and don't want to spend it / send it to you until 2050?

If you don't buy something with that money that increases in value faster than inflation can depreciate its value, then you're losing your 'value'.

I'd personally rather risk it on crypto than housing, stocks, bonds or any other investment vehicle.

My time horizon is decades, not days.

Lol your worries are literally the number 1 reason to buy gold. That's why the system is fucked. You can't save your money without being fucked. Which is the opposite of a normal economy.

If you can't save without being fucked then the system is fucked.

Gold is savings.

You morons know the system is fucked but your going along with it and spending when you shouldn't have too.

Going deeper into debt to buy more shit is the opposite way of running an economy

Dude without savings there no economy. We are in a debt fueled Ponzi scheme economy.

If you went back 100 years people would think your fucked in the head to not want to save money.

Gold is savings. That's why the economy wasn't completely fucked back in the day because we were on a gold standard

No people want to be paid but they also don't want their wealth confiscated through inflation.

50 years ago had you earned a dollar it went a lot further back then that it does today. What's changed? What's happening?

Sure people might not care in a large time scale like that in a vacuum but nobody was saying the term "income ineqUality" 60 year ago when in a gold standard. Today "income inequality is a top 3 issue. So you are wrong to say that the dollar losing value doesn't mean anything over a long period of time.

You are literally throwing your money in shitcoins because you can't make it anymore....because we aren't in a gold standard anymore unironically

Unironically true and the best post in the thread.

Wrong gold is not useless. Gold is real savings

You don't think Venezuelans wish they could go back in time in convert their bolivars into gold?

How fucking stupid are you?

have fun storing U$1 million+ in gold

Have fun losing all your wealth in bitcorns

Well you can risk it on whatever you want but this is obviously still spending the money, and whatever it was the only real factor that actually matters is the desired amount of value being received.

You want to buy the stock because it will increase, it does, now you want to spend your profit on a house. If you used bit coins you would literally have got bogged 50% between agreeing to purchase and settlement payment.

The time horizon for a cash system does not need to be decades, a store of value does not need features of a cash system

Can you please give me an example of an event that would result in both the dollar disappearing and people willing to trade material goods for gold

i'm not saying anything about the merits of value stores. i am saying bitcoins are a shit cash system being flogged off as a reliable store of value on the basis that specific actions at specific historical points would have resulted in increased wealth. they might as well say chicken fights are a fucking store of value just bet on the winner.

>Gold is not volatile at all. A gold ounce 900 years ago is that same gold ounce today. Doesn't matter if the dollar exists or not.
you make a lot of claims with nothing to back them up. also very convenient for you that any data concerning the dollar is irrelevant.

but its not fun

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If the stock market crashes and there is a bank run, the banks may respond by putting a freeze on accounts because they only hold 10% reserves. The late withdrawal people will still need to purchase things until the thaw.

if you bought Bitcoin 1-2 years ago you'd still technically be up

What do you mean I have no data to back it up?

Did gold all of a sudden become valuable when America was born and the dollar was created?

It's not data it's fucking common fucking logical sense

And of course the dollar value of gold is irrelevant you idiot. The entire reason you buy gold is because you fear the dollar will implode because it's a scam. That's the entire fucking point you idiot.

You don't buy gold hoping it goes up in price like a stock you buy gold to keep your wealth in tact after the fiat paradigm ends.

Jesus you people are stupid.

A gold ounce is just a gold ounce it's savings and real money. It doesn't generate revenue like a stock does

EXACTLY!

That goes for precious metals too!

I'm a Platinum group kind of guy myself.

Neither are a store value
Both are scams

If you want to hold the value of your money you buy bonds. Doomsday faggots will say otherwise

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Amazing how stupid they are even when you spoonfeeding them

>What do you mean I have no data to back it up?
that gold isn't volatile. and presumably you're buying it because you think it will be volatile in your favor. so I don't even know what your point is anymore
>The entire reason you buy gold is because you fear the dollar will implode because it's a scam.
or you're just crazy and shilling a rock that doesn't do anything.
since you seem to think it's so obvious that the dollar is some conspiracy theory you should be more concerned about why nobody believes you despite the obvious benefits of foreseeing such an event.

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Bagholders would say anything to trick people into buying their bags.

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>give me an example of an event that would result in both the dollar disappearing and people willing to trade material goods for gold

The US dollar is currently the world reserve currency and has a floating exchange rate because it's not backed by gold but 4 things:

1.Dollars Held in reserve by Foreign Nations
2. Debt Bonds Held by Foreign Nations Maintained by the U.S. Govts payment of interest on its debts.
3. The Volume of Production within the US economy
4. Trading in Commodities using the US Dollar as the medium (as it is the world reserve currency)

As the US's Debt inevitable grows the proportion of the federal budget taken up by the interest payments. by 2021 12% of the US federal budget will be interest payments. by 2040 it could be 20% or even 30%!

If US leaders want to pay Less on the Interest or lower the interest rates because they'll have less of budget to spend on things the American people need they won't be able to because the foreign bond holders and USD reserve holders will choose to sell their bonds and divest themselves of US dollars as they no longer pay dividends.
If all the Countries try to get rid of their dollar reserves by selling them but no one wants to buy them...that means they're worthless. The Dollar becomes worthless when no country want to hold it and no country will accept it anymore.
That's ONE thing that can plunge the dollar- and also cause a global collapse.

Another Way it can die is from the Commodity trade...the most crucial commodity tied to the worth of the US dollar is Oil.
WHY?
Because of agreements with major oil trading nations that they will ALWAYS trade for oil in US DOLLARS. That should clue you in onto why the US is sucks on Saudi Arabia's ass so much.
It's NOT just protecting the Oil itself...but the TRADE OF OIL.

Why? If Oil is no longer traded in US DOLLARS the USD becomes far less relevant in Global trade and has a similar effect to previous example of the dollar losing it's use

Secure? HAHAHAHAH "SECURE" HAHAHA KEK
most hacks and thefts occur within the bitcoin core.

>give me an example of people willing to trade material goods for gold

People trade currency for gold and gold for currency TODAY.
Like right now people are collecting and trading GOLD and other precious metals.

Currency is a lot more convenient than Gold, but people only use it so long as it maintains stability and widely accepted use. Hyper Inflation has occurred muliple times in the past century and it has also occurred as recently as the economic collapse of Venezuala.

LOL you think gold needs to be shilled? It's been money and a store of value since before Christ was alive. And you think I need you to buy it for it to still be valuable? Lolllll

Rock that doesn't do anything yet has been money and savings for milennia.

Get to bed zoomer. You gotta be up early for junior high tomorrow

>You morons actually think that gold relies on the dollar existing.
Gold has no use besides dollar value. If the dollar disappeared in some doomsday event, gold is the last thing people will care about. It's an inefficient raw material compared to other metals.

100 years ago a good weekly salary was 20$. And 20$ equaled an ounce of gold.

Had you held that 20$ under your pillow for 100 years until today you can't even buy lunch for two at Taco Bell with it.

Had you held that gold ounce underneath your pillow for 100 years your value was stored for 100 years because the fiat value of that ounce is $1,250 which is still a good weekly salary today.

Get it now zoomer? Gold is savings. Your wealth in paper loses its value and your wealth is stolen through inflation

fucking retarded, a FIAT currency collapse is not a fucking zombie apocalypse

How can you not see that Gold and all Precious Metals are UNIVERSALLY treated as stores of value by every. single. society.

Why ? Because it's malleable, can be minted and DOES. NOT.EVER. DECAY.
outside of making circuitry, it's not good for anything else than to be a medium of exchange as it has been since the Romans...

Are you retarded? It was gold that gave the dollar its value. The dollar was convertible to gold at banks for almost 200 years.

Your investing in speculative shitcoins because you can't make it anymore because the dollar is dying unironically because it isn't backed by gold.

Why do you think our founders put in the constitution that only gold and silver shall be legal tender? For fun? For no reason? No... because they knew if we had a fiat monetary system you'd end up with a country that bitches about income inequality because it becomes incredibly hard to make it.

You never even heard the term "income inequality" under a gold standard.

Why the fuck you tbink the middle class is dissapearing? Why do you think prices are rising?

You think your faggit shitcoins are the solution to the monetary system? Your faggit shitcoins are how you are trying to save yourself from ass raping inflation. That's it

The Dollar has no use outside of being a currency aka a medium of exchange...however, as a paper fiat Currency- which have a history of imploding- the dollar can lose it's worth and be dropped.

Cryptocurrencies are also just as vulnerable to implosion as Fiat Currencies.
Except you can't use Crypto unless you're in a location that has electricity internet connectivity. That's an advantage even dollars have over crypto.

But when Governments Fail and there's no internet or electricity...all CURRENCY IS TRASH and PROMISES.

Gold will still work because the only things it relies on Human Nature and the Laws of Physics Through Chemistry.

Lemme Know when physics and human nature stop working and then I'll be worried.

The funniest part is they call crypto the new gold not even realizing that there's zero problem with gold and that the dollar is dying becsuse it isn't backed by gold

Right?
These fucking Kids, man. They wanna learn the hard way. Every single time.

"There's nothing new under the sun." as the saying goes

Not relevant. The average goy has merely a few thousand dollars in savings. It is not because inflation is stealing his wealth, it is because he is spending as fast as he can earn. Forcing him to use gold as currency rather than an easily accessible wealth storage option doesn't do anything.

Lmao

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>LOL you think gold needs to be shilled?
yeah:
>Glenn Beck Discusses Reason To Purchase Gold
youtube.com/watch?v=JugzmUOc5Fs
and 20 years ago your gold would be worth roughly the same. gold would have done worse than a treasury bill over the same 100 years. shit is volatile as hell.

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youtube.com/watch?v=sN3iITo7gNA
hyperinflation

WE. DON'T KEEP GOLD AS AN INVESTMENT.
It's not kept to earn dividends it's kept as safe store of value for when fiat currencies hyperinflate. so Volatility doesn't matter unless you're a Gold Speculator.
The Likelyhood of gold overabundance and rejection in the global economy is unlikely.
Even IF that somehow came about, Another Precious metal would come up in its place.

(((They))) can manipulate the paper price through the comex exchange. Remember when the economy was on the ropes 9 years ago and gold almost hit 2k per ounce? And now it's worth $1,200? It went back down because they sedated the economy with QE and made everyone think that things were getting better and the dollar price of gold went down also.

Money is a weight and measure. That's what gold is. Sure.... if you buy gold at 1800$ and sold at $1300 you lose value in fiat but your first and foremost buying to fiat to collapse. When that happens that's when you really make it with gold

Yeah he's spending as fast as he can earn because cost of living has been skyrocketing because of inflation and destruction of wealth.

If prices for everything were 80% cheaper like they were 60 years ago then you would have more savings duhhhhh

i stored every last dime i had in btc when it was 20k.

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>WE. DON'T KEEP GOLD AS AN INVESTMENT.
I didn't even reply to you, but your gold shill friend seems super stoked for gold to make him rich after an economic collapse.
now you're just back peddling form 'gold isn't volatile' to 'gold is volatile because (((They))) made it that way'.

>protect wealth from inflation

This kills the goldfag

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you inflationtards really are brainlets. 60 years ago salaries were more than 80% smaller too. deflation is even worse than inflation, thats what a recession is, without at least some inflation your salaries will become smaller and you would still not afford to buy stuff or save

You're making the same idiotic argument as crypto maximalists.

Buying power is measured in dollars. Dollar value shrinks, so does your purchasing power. An ounce of gold may be an ounce of gold. But a dollar is also a dollar and a bitcoin is also a bitcoin. That makes the point no more relevant and no less stupid.

And with deflation people hoard wealth which leads to economic stagnation and then collapse.

Because btcfags are too emotionally attached to admit that their prototype crypto cannot function at scale

Holy shit you are one retarded motherfucker.

>A gold ounce 900 years ago is that same gold ounce today

One bitcoin will always be equal to one bitcoin too you absolute moron.

One btc will be worth less than 7000 sats EOY

>t. boomer

You're posting the pricing of Gold during the Post 08' goldrush.
Which is fine because gold endures. as it always has.

When a fiat currency dies. It disappears.

Meanwhile Gold and all other metals are 4000 years strong. Always relevant and never forgotten.

>Buying power is measured in dollars
FOR NOW.
Dollar is doomed to destruction by the US Govt inability to indefinitely contain debt.

a dollar is a dollar until nobody wants it anymore. Then it's just USELESS.
A Bitcoin is a Bitcoin until nobody wants it anymore.
Then it also becomes USELESS.

Somebody Somewhere throughout all of time and history will Want Gold and other Precious metals.

>it's basically better than gold in every which way.

Bitcoin’s track record is 0.1% as long as golds, and already Bitcoin has had a worse calendar year drawdown

how does bitcoin rely on the dollar lmao
do you even know how the ledger works you fucking kike lol

Retard

>delusional cryptofag imagining himself owning 10 million filthy fiat units

Why not Have Both?
Karabit.exchange
Karatbit.com
Cashgold is fungible gold for the whole world, no matter what country.

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your gold is worth however much mass in gold you own, just as bitcoin is worth however many bitcoins you have. There is literally no difference, only yours requires physical storage space, can be counterfeited, and is less readily divisible.

Neither gold nor bitcoins have any intrinsic value, they are only worth anything when other people also want them.

>Neither gold nor bitcoins have any intrinsic value
FALSE.

Gold and other Metals are PHYSICAL RESOURCES and have INTRINSIC UTILITY outside of exchange.

Gold can be used for heat shielding, wiring/ ciruitry in elecytonics, dental inserts.
Gold Isotopes can be used to treat cancers, Gold-based chemicals can be used to treat arthritis.
Gold is essential in Spacecraft engineering and plating on telescope equipment and is even used in creating glass.

Bitcoins and Dollars have no intrinsic value and rely comepletely on subjective/relative appraisal to be used.

dollars are only good because they're convenient for exchanges.

BTC is nowhere near as ubiquitous as other currencies and credit systems

no one wants your shitcoins or imaginary money