Re:Bitcoin surpasses $50K as major companies jump into crypto
by hanniabu on Tuesday February 16, 2021 @08:29PM
(#26161464)
So value is only a result of demand for USD but when it comes to BTC that doesn't apply?
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Re:Bitcoin surpasses $50K as major companies jump into crypto
by tylerhou on Tuesday February 16, 2021 @09:06PM
(#26161729)
Value is a product of demand for both USD and BTC. So as I said above, your question was tautologically true: if the demand of Bitcoin will always be high, then yes it will be a store of value, because things that are in high demand have value. But that is true for any good.
I could ask the same question about cow dung, or any scarce good. If the demand for cow dung was as high as the USD, will it be a stable store of value? Yes.