Re:Bitcoin Bubble Makes Dot-Com Look Rational
by 0bsidian on Tuesday November 28, 2017 @07:22AM
(#15796546)
I see what you mean, let me take back my previous comment, which was typed hastily.
I actually agree with you on the most part, you really can't prove that Bitcoin is a good store of wealth.
I am making an educated guess that a cryptographically secure way to transfer value for very cheap is probably here to stay, but it's far from provable.
In fact, if it were provable, it would become a very crowded trade and the returns would drop to zero immediately. The fact that it's unknown allows for potential greater returns (and greater losses if people who agree with me are wrong).
That's a false analogy. You can rewrite it that way if you like, but it doesn't actually show anything.
The OP claimed that "one can provable show it’s a good store of wealth."
That's more akin to saying that facebook will provably continue to be the top social network. You can't prove that, and much like with cryptocurrencies it depends on what else comes along, how facebook continues to perform and whether people lose interest in the whole area of social networking (or cryptocurrency).
BTC has been around a few years. Saying "It has scarcity therefore I can prove it's a good store of wealth" is bollocks, sorry. Lots of things have scarcity.