The thing about Bitcoin is that it's original intended purpose was to be a digital cash, not a store of value. Cryptos will never be a good store of value without utility. That's why I think STEEM is so great.
RE: Stellar's valuation is a HUGE problem!
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Stellar's valuation is a HUGE problem!
Bitcoin is still used that way. Cryptos are a better store of value than fiat money because they're deflationary instead of inflationary. But I think the cryptos that make a good digital cash will be the ones that people will store the most value in.
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It's only deflationary for a single blockchain. You can just copy the code and start a new blockchain. You have to have a reason for people to want to store their value in a particular blockchain.if not it's just speculation like everything else.
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Store of value only works when there are no close substitutes.
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The blockchain gives you full control of your own money.
And if someone buys or sells stuff using a crypto then they might as well store their money in it as well for convenience.
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Hard to say. I'm not sure about "never be a good store of value" but in comparison shouldn't do as well as the ones with utility. Speaking of which, if I were to be investing for retirement 30 years down the road like your generation might be doing, I wouldn't invest in any crypto that are Proof of Work, like Ethereum. They will slowly become obsolete as more people realize it just doesn't make sense to have to consume huge quantities of electricity to ensure security in the platform, when other options like Delegated Proof of Stake (like Steem) exist and become more known. I wonder what would happen if some big, well respected name like Ben Bernanke comes out and says something like, "Well, I guess crypto isn't such a bad idea after all, but I sure as hell wouldn't invest in Bitcoin as long as they still use Proof of Work. Who thought that was a good idea"?
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Keyword is "good." Ethereum is supposed to switch over to PoS this year.
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