> about as "reliable" as a store of value as a casino chip
Casino analogies are misleading because the problem with the casino is that the expected outcome is negative. The problem with the casino isn't the volatility.
There are plenty of stores of value which have extreme volatility but are still prized by investors, like real estate or artwork.
> demonstrably not one of them
We are talking about an asset class that has existed for about 1 decade. Nobody is really sure what it will be able to achieve, but its ability to act as a store of value seems promising. As more people form their opinion about this and other matters related to cryptocurrencies, we should expect the volatility to decrease. So the volatility at the current moment is not really a good indicator for the long-term volatility.
> about as "reliable" as a store of value as a casino chip
Casino analogies are misleading because the problem with the casino is that the expected outcome is negative. The problem with the casino isn't the volatility.
There are plenty of stores of value which have extreme volatility but are still prized by investors, like real estate or artwork.
> demonstrably not one of them
We are talking about an asset class that has existed for about 1 decade. Nobody is really sure what it will be able to achieve, but its ability to act as a store of value seems promising. As more people form their opinion about this and other matters related to cryptocurrencies, we should expect the volatility to decrease. So the volatility at the current moment is not really a good indicator for the long-term volatility.