Bitcoin as a store of value

[Glossy 615]

What do you think about more traditional assets like gold, silver and real estate in comparison with Bitcoin? What would you prefer?

To me it is best to diversity assets a little - but what is yours opinion about that?

[xBDT Script 4371]

18 minutes ago, Glossy said:

What do you think about more traditional assets like gold, silver and real estate in comparison with Bitcoin? What would you prefer?

I think gold, silver steal has it's value. But to me Bitcoin is the best. When you store physical gold or some form of ornaments at home and when you want to sell them you do not get the market price. Plus you need space to store them too.

But with crypto there are no such hassle. The one who started with Bitcoin before 2016 and have 100+ coins they are millionaire now. 

[Glossy 615]

10 minutes ago, xBDT Script said:

I think gold, silver steal has it's value. But to me Bitcoin is the best. When you store physical gold or some form of ornaments at home and when you want to sell them you do not get the market price. Plus you need space to store them too.

But with crypto there are no such hassle. The one who started with Bitcoin before 2016 and have 100+ coins they are millionaire now. 

You are right that the Bitcoin is easier to store and use, but in my opinion it is good to have some of investment portfolio in precious metals too - in case of catastrophic events without electricity it will be the only means of payment along with cash or physical goods.

Edited September 30, 2019 by Glossy
Fixed grammatical errors

[xBDT Script 4371]

2 minutes ago, Glossy said:

in my opinion it is good to have some of investment portfolio in precious metals too

I am not denying it. What I said is my personal preference. If anyone ask me to pick one from bitcoin and gold then I will go for bitcoin. In fact all my saving are in bitcoin LOL

If you value me based on my bank balance then I am a homeless 😄

[Glossy 615]

15 hours ago, xBDT Script said:

I am not denying it. What I said is my personal preference. If anyone ask me to pick one from bitcoin and gold then I will go for bitcoin. In fact all my saving are in bitcoin LOL

If you value me based on my bank balance then I am a homeless 😄

I hope it will turn out good for you, it is pretty risky but I guess you know what are you doing 🙂

I have been heavily investing in ETH and some altcoins but I got burned badly and thats why I try not to invest too much in crypto now.

[xBDT Script 4371]

2 minutes ago, Glossy said:

I hope it will turn out good for you, it is pretty risky but I guess you know what are you doing 🙂

I do have good faith in Bitcoin, I bought them when the price was only $600 and I also bought when the price was $15k+ on average if I compare with fiat then even if Bitcoin drops to $1,500 still I will be in profit.

Thing is as we go there will be more adoption for bitcoin and more adoption meaning more demand. Demand increases the price. However 1 BTC = 1 BTC always and I dream for a generation where bitcoin and other crypto will be the main currency.

[Glossy 615]

8 minutes ago, xBDT Script said:

I do have good faith in Bitcoin, I bought them when the price was only $600 and I also bought when the price was $15k+ on average if I compare with fiat then even if Bitcoin drops to $1,500 still I will be in profit.

Thing is as we go there will be more adoption for bitcoin and more adoption meaning more demand. Demand increases the price. However 1 BTC = 1 BTC always and I dream for a generation where bitcoin and other crypto will be the main currency.

With Lightning Network transaction speed has rised dramatically. I have been using it on testnet and I was very suprised in positive way how fast it is. I believe that now everything is ready for mass adoption 🙂

[xBDT Script 4371]

Just now, Glossy said:

With Lightning Network transaction speed has rised dramatically.

True, using 2 satoshi you can transfer money, pay bills and do all sorts of tx.

We are still experimenting lightning network and let's see how far we go with it. Bitcoin really needs an intermediate section so that people can use it for their daily shopping.

[hexwin 4931]

I heard one prediction that maybe one day you it will be proper value if you can buy one bread for 1 satoshi.

Now calculate how much should 1 btc be in that case 😉

Anyway we need some network update for that to work 

[xBDT Script 4371]

1 minute ago, hexwin said:

Anyway we need some network update for that to work 

Good people are working to improve bitcoin experience. You need to admit that we are still very young. It's been only 10 years gone and we still has a long way to go.

Fiat started hundreds of years ago and the system did not built up very quick. Everything takes time.

[Kumar 260]

Bitcoin is only the main store of value in the whole crypto world but rather considering altcoins, so their are variety of it in which people must be confused and require a lot of research.

[Dulce1972 2]

The problem with Telegram is that they have a much smaller community than Facebook. There will need to be huge spending on advertising the project and its capabilities. Libra doesn't need that. Me very strongly worries the that private trade commanded very a large number of time and many multimillionaires have been able buy kollosalnoe childrens coins. These people will be able to manage the market due to their large volumes. Therefore, we will expect - a game of prices.

[LilGirl1978 0]

Recently, I have heard a lot about the crypto wallet project called Cloud token (COT), which was introduced as a blockchain 3.0 technology application wallet (an exaggeration) with many advantages. It is worth noting that it is a crypto wallet, with the interest payment mechanism for users, this is a model similar to the Plus token wallet, now the Plus token has become a Biggest scam in China. It is believed to be the cause of the sharp decline in the price of BTC. Will the Cloud token become the second Plus token?What is your opinion about this wallet ?.

[Consignee 2395]

On 10/1/2019 at 5:00 PM, hexwin said:

I heard one prediction that maybe one day you it will be proper value if you can buy one bread for 1 satoshi.

Now calculate how much should 1 btc be in that case 😉

Anyway we need some network update for that to work 

What will be the fee of that transaction? A fraction of satoshi? In that case we need to have something another unit mSAT, lol. I'm not sure how it will work. I too have seen its possible to send 10 satoshi even. But I'm very much confused how it will happen.

[hexwin 4931]

3 hours ago, Consignee said:

What will be the fee of that transaction? A fraction of satoshi? In that case we need to have something another unit mSAT, lol. I'm not sure how it will work. I too have seen its possible to send 10 satoshi even. But I'm very much confused how it will happen.

Only way for this would be with some second layer solution or with major Bitcoin network upgrade.
But 1 bread/ 1 satoshi is just a prediction of how much we can grow in price and adoption
 

[s107n 5726]

On 29.09.2019 at 13:09, Glossy said:

Как вы думаете, какая криптовалюта является лучшей для сохранения стоимости?

Биткойн является самым популярным, и многие используют его, но есть и другие криптовалюты с другими преимуществами.

Например, Монеро является частной монетой, которую невозможно отследить.

 

А какие еще активы вы предпочитаете как средство сбережения?

Например, золото традиционно использовалось сотни лет.

I believe that if the address of the coin is tracked, the turnover of the coin is tracked, transactions are tracked, then this suggests that the coin is not completely anonymous. For me, anonymity is a complete concealment of data and only the owner sees his balance, and the transaction is visible only to the sender and recipient.

[Consignee 2395]

1 hour ago, hexwin said:

Only way for this would be with some second layer solution or with major Bitcoin network upgrade.
But 1 bread/ 1 satoshi is just a prediction of how much we can grow in price and adoption
 

Leave the part 1 bread/1 sat, with LN, we will be able to send single sat? or not. People are testing LN already. What's the minimum amount can be sent with LN. Currently the minimum amount is 300 sat or so if I'm not mistaken.

Edited October 10, 2019 by Consignee

[hexwin 4931]

6 minutes ago, Consignee said:

Leave the part 1 bread/1 sat, with LN, we will be able to send single sat? or not. People are testing LN already. What's the minimum amount can be sent with LN. Currently the minimum amount is 300 sat or so if I'm not mistaken.

I don't think we will ever be able to send 1 satoshi in near future. 
They need to create something better even than LN, and I don't think this is possible

This was minimum Bitcoin output back in 2017:

Quote

Bitcoin Core 0.14.1 the minimum for outputs is:

5460 Satoshi
54.6 μBTC
0.0546 mBTC
0.00005460 BTC
5460/100000000 BTC

https://bitcoin.stackexchange.com/questions/17830/whats-the-minimum-transaction-with-bitcoin

Edited October 10, 2019 by hexwin

[Consignee 2395]

2 minutes ago, hexwin said:

I don't think we will ever be able to send 1 satoshi in near future. 
They need to create something better even than LN, and I don't think this is possible

This was minimum Bitcoin output back in 2017:

The minimum is 546 satoshi, not 5460 satoshi. I have found a link here- https://bitcointalk.org/index.php?topic=5142876.msg51040516#msg51040516

I will be back with LN information as well, I'm getting curious now.

[hexwin 4931]

1 minute ago, Consignee said:

The minimum is 546 satoshi, not 5460 satoshi. I have found a link here- https://bitcointalk.org/index.php?topic=5142876.msg51040516#msg51040516

I will be back with LN information as well, I'm getting curious now.

Correct it is 546 sats, and to be more precise, with added 1 satoshi it is 547

Link for dust test.

https://github.com/bitcoin/bitcoin/blob/f0fd39f37630729690e71f7523e696de6cfb1902/src/test/transaction_tests.cpp#L695

I am not 100% all this data is valid for year 2019, but it probably is.

[Consignee 2395]

1 minute ago, hexwin said:

Correct it is 546 sats, and to be more precise, with added 1 satoshi it is 547

Link for dust test.

https://github.com/bitcoin/bitcoin/blob/f0fd39f37630729690e71f7523e696de6cfb1902/src/test/transaction_tests.cpp#L695

I am not 100% all this data is valid for year 2019, but it probably is.

546 is correct.

I just checked one article, what I have learnt is Lightening Network node will fix their fee. It can be high or can be low. Certainly users will choose less fee node for operate a transaction. I need to dig a little more to learn the whole process, may be I will give it a try soon.

[hexwin 4931]

3 minutes ago, Consignee said:

546 is correct.

I just checked one article, what I have learnt is Lightening Network node will fix their fee. It can be high or can be low. Certainly users will choose less fee node for operate a transaction. I need to dig a little more to learn the whole process, may be I will give it a try soon.

Ok thanks.

Also very good websites for tracking Bitcoin transactions and mem pool so we can see exact size and fees for bitcoin network:

1.  https://mempool.space/tv

2. https://jochen-hoenicke.de/queue/#0,24h

First one is my new favorite

 

Edited October 10, 2019 by hexwin

[starwalkerz 164]

In my opinion, Bitcoin has been a great store of value for the past ten years, after all the value has increased a hundredfold since some kind of adoption outside of the core group, but in my opinion the growth is limited by the emergence of competing investment opportunities in the same genre.

[andrehol 16294]

Bitcoin is very good for investment. Of course, it is better to divide investments into parts: real estate, gold. But if there is nothing special to share, then I’d better risk it with bitcoin

[Glossy 615]

On 10/19/2019 at 3:01 PM, andrehol said:

Bitcoin is very good for investment. Of course, it is better to divide investments into parts: real estate, gold. But if there is nothing special to share, then I’d better risk it with bitcoin

Yes it is risky but the gains are potentially very big. It all depends when will people start using it more and more.