[0bsidian]

>Anyone can fork the codebase, or even the blockchain, or one of the many other blockchains out there. There is absolutely nothing provable about BTC as a store of wealth.

Let's rewrite the above as follows:

>Anyone can copy Facebook's model, or even its code, or one of the many other social networks out there. There is absolutely nothing provable about facebook as a good social network.

[Nursie]

>> >Anyone can copy Facebook's model, or even its code, or one of the many other social networks out there. There is absolutely nothing provable about facebook as a good social network.

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.

[0bsidian]

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).

[code51]

If Facebook had quit providing any sort of value to the people, had quit providing incentive to store their valuable assets like photos, videos, opinions etc. on their system, then yes, I think if someone copied Facebook %100 and started operating it properly, they'd be a good social network.

Facebook is not just a code or just a network. ICQ had a network. MSN Messenger had a network. Heck Google actually has a network.

But without providing value, a network is not worth a thing.