Bitcoin is not the most convenient medium of exchange in the crypto-sphere. However it beats traditional financial institutions hands down.
As to not being a stable store of value, with exception to those who panic buy the top Bitcoins fixed supply only grows more “valuable” with respect to fiat. As long as the panic buyers don’t turn into panic sellers their purchase will also appreciate.
On the other hand fiat has been tried some 700 times in recorded history and to date has always been devalued until it’s worthless. If strait up comparing BTC fundamentals to fiat fundamentals BTC is a better “store of value” however that’s not to say that it is the “best” store of value.
globally there are:
- 0.385toz silver per person with low production
- 0.0027 BTC per person with near zero production, and production cap of 21,000,000 total coins.
- 2628 USD per person, but who really knows with that one and quite a bit of production recently
- $6000 USD per person in total fiats conservatively, with corona printing I am unable to locate any real source as to much how much there really is. extrapolation for USA, CAD, and EU would be closer to $8000usd equivalent.
So as long as buyers and sellers don’t make it go up and in value its very stable. ROFLOL!
“globally there are:
- 0.385toz silver per person with low production
- 0.0027 BTC per person with near zero production, and production cap of 21,000,000 total coins.
- 2628 USD per person, but who really knows with that one and quite a bit of production recently
- $6000 USD per person in total fiats conservatively, with corona printing I am unable to locate any real source as to much how much there really is. extrapolation for USA, CAD, and EU would be closer to $8000usd equivalent.”
Very good points. I will add that there are only 0.0007 original run Beanie Babies per person on the planet. Good to hear my aunt’s retirement is set.