News for hackers. Stuff that matters.

A comment on Bitcoin sinks below $7000. Parent comment

Re:Bitcoin sinks below $7000 by freedom7775 on Monday February 05, 2018 @01:57PM (#16311036)
Behind what? Bitcoin is a store of value. 1 BTC will always be worth 1 BTC.

If you want to store your USD, perhaps you should keep them in the form of USD.

[ Parent | on HN ]
Re:Bitcoin sinks below $7000 by dragonwriter on Monday February 05, 2018 @02:09PM (#16311143)
> Bitcoin is a store of value. 1 BTC will always be worth 1 BTC.

You really want to look at a store of value in terms of other goods and services, not itself. (Major world currencies tend to be stable in value against common goods baskets in the short-term with slow inflation in the longer term, so comparing—especially over a short term—a more volatile store of value to a major currency can also;make sense.)

[ Parent | on HN ]
Re:Bitcoin sinks below $7000 by inyourtenement on Monday February 05, 2018 @02:04PM (#16311101)
But ... what is the value of 1 BTC? If it's not reasonably stable, then what is being stored?
[ Parent | on HN ]