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RE: How Do We Agree on What is a Reliable Store of Value ? - FieldCoin
I think store of value is a complex idea, because first of all, what is "value"? How do we measure value?
Is fiat price, the "value" of a thing? I say no. Price is what you pay, value is what you get.
In that sense volatility from the perspective of fiat price becomes interesting but irrelevant.
So when we talk about crypto not being a store of value, I think we are really making the mistake of conflating price with value.
Btc price is fiat is hugely volatile, but its value is in its utility, if it has utility. I believe it does but that is a seperate conversation. So price volatility can exist in an asset and yet that asset be considered a "store of value" in my opinion.
Good read. Thanks.
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Thanks for the comment @infidel1258. I agree, store of value is a complex idea, one that is certainly very fluid and relates highly to notions of perceived supply and demand. It's an abstract concept which crypto has begun to challenge. Disruptive technology is interesting in it's ability to not only improve on previous iterations but also it's ability to disrupt thinking & behaviours... which is why I became interested in crypto in the first place. The BlockChain Revolution may still be in it's early days but I think that within a decade, this relatively new technology will have literally changed the very fabric of society due to a few simple and immutable rules contained therein ;) kind of hoping it might...
Im with you, but as it happens I also stack silver, and own a home, and buy and store food and water, because I recognize as you point out, that wealth, and store of value can come in many shapes.
I think historically speaking, silver and gold have the best case for being "money", meaning, a unit of account, that is also a store of value, and a medium of exchange, while simealtaneously being:
Thanks for the post and the reply.
cheers ace, yes. value is what we agree upon and often, by no coincidence, often what we need. It's no surprise that second hand cars, clothes and gadgets are often a fraction of their original cost to buy but antique furniture, truffles and precious metals stay expensive. what's really valuable though are ideas, compassion, truth, community and knowledge. I wish someone could come up with a blockchain which recognises those things and monetises them.. oh yeah, steemit ! ha :)