[chadash]

> commodity

It's not really a commodity. More of a currency.

> you want high price for a longer period of time, but are turned off by the exact and only mechanism in which it gets there - large % and large $ amount price increases. fascinating.

I'm not saying it's worth nothing. If bitcoin stays above 5k for a long time, i'm willing to say it's worth at least 5k. If it stays above 50k for a long time, i'll come around and say it's worth at least 50k.

> I’d like to leave you with an alternative tool for valuing, and its just scarcity.

Scarcity alone doesn't mean anything. I can create a cryptocurrency any time that's scarce. Doesn't make it valuable.

> Bitcoin’s not a company so dont use company comparisons.

The only commodity that it is comparable to is gold and maybe a few other precious metals that serve as value stores. And gold, for one, has held high value for thousands of years. Maybe it doesn't have intrinsic value in the way that canned beans do, but the chances of it being near worthless tomorrow are very very low since it has a 5000+ year track record. On the other hand, yes, there's seasonality and volatility in things like oil and pigs, but there are also real world use cases for those.

[vmception]

scarcity and liquidity then?

there’s nothing wrong with low float assets, really seems like you are making a separate higher standard for bitcoin

yes all cryptocurrencies inherit that capability to an extent, just have to convince others to share the same view, with the security of the database becoming the limiting factor

the future value of bitcoin are the drivers of its scarcity, if all of those drivers are too intangible for you then they wont become so

[chadash]

> scarcity and liquidity

So it's valuable because it's scarce and it's liquid because it's valuable? I imagine you can see how a skeptic might view this. I would be skeptical of gold coins too, but for the fact that a gold coin today would have been valuable in ancient Rome as well. So I don't really understand why gold is so valuable, but the fact that it's been very valuable (to varying degrees) for 5000 years leads me to think that that will hold for at least for the rest of my life.

I agree that Bitcoin has advantages as a store of value over gold. But it's value is only as high as people value it for, so the trillion dollar question is whether it's just a fad. For those of us who are skeptical, there are definitely things that could bring us to the other side, such as sustained value for a longer period of time.

[vmception]

interest in bitcoin can completely evaporate, and the same is true for gold.

you needed to hear it, so there it is. having more bitcoin than you need isn't for you, owning bitcoin when you don't need it isn't for you.

the reasons people own bitcoin are all of the reasons people own gold and more. it inherits the same sentiment and does it better. do with that what you will.

just remember that the oft cited tulip bubble and the beanie baby bubble are not examples of irrational behavior. Tulips was a derivatives contract discrepancy that ended in a few months after the bubonic plague killed the traders, the spot market was unaffected and we dont know what would have otherwise happened. Beanie babies had accurate proce information from expected permanent supply chain failure, which ended from a surprise supply increase flooding the market. Only the equities bubbles were irrational.