Agreed that the volatility is not reassuring. However, in respect to a South African mindset Bitcoin sure seems like a plausible store of wealth. Especially when you take into consideration what has happened in neighboring Zimbabwe where $100 Trillion bills became the rough equivalent $1 USD.
If I were a South African, I'd sure sleep easier at night knowing I had some portion of my savings in Bitcoin. It sure seems like once awareness of Bitcoin/crypto reaches the far corners of the world (and with it internet access), everyone will be inclined to allocate at least some portion of savings towards the space. Just my two cents!
If value is not at all tangible and is based on a belief system then value can be stored in just about anything. the only reason gold price seem to have stability is because it is centralized, controlled and in the hands of a few. Bitcoin is a lot safer to hold than most if not all government currencies that exist today.
If the government fucks up the currency goes down and the community belief system that gave the currency value goes with it.
bitcoin has no government to fuck up the belief will fluctuate so will the value and so will the price. bitcoin is gonna be around for a while
Nope, just miners and developers arguing over what is best for it ;)