[tossandthrow]

Bitcoin can not yet be deemed currency by commonly understood principles for a currency: You can not pay your taxes, it is not a store of value (it is volatile), and it can not generally be used to transact (Good luck getting trader joe accepting bit coins).

So that would not really constitute a bank that stores currency.

(I have nothing on crypto currencies, btw., and if it gives a feeling of agency to use them I applaud it)

[toenail]

> commonly understood principles for a currency

If you start from there, you'll never understand bitcoin. I own bitcoin precisely because it is not what economists, bankers and politicians want me to own.

[tossandthrow]

I don't really know what the goal of this comment is?

This thread was not about understanding bitcoins - but banking.

> I own bitcoin precisely because it is not what economists, bankers and politicians want me to own.

It doesn't really make sense to own something just because someone else are saying you should not own it - but whatever floats your boat and as long as your own the consequences of your own actions.

[Kenji]

Bitcoin is a better store of value than USD. Change my mind.

[ranger207]

Bitcoin's high volatility means that it's impossible to predict exactly how much value one Bitcoin will have tomorrow, next month, next year, or next decade. USD has comparatively low volatility. It's possible, but very unlikely, for USD to go to zero tomorrow, and while the uncertainty around exactly how likely USD is to collapse increases as you look further towards the future, most people would consider it less likely for USD to collapse than Bitcoin. Since markets are made up of "most people", most people are more willing to accept USD to exchange value than they are Bitcoin. Therefore, USD is a better store of value than Bitcoin

[andirk]

Prediction that has been right 100% of the time (so far): Bitcoin's value will be more in the future.

Now that stonk people are in to BTC and it's worth is much higher, it's volatility is far less. It's still a speculative asset and with plenty of risk, but it's definitely a store of value for at least some % of one's savings.