Federal Reserve admits Bitcoin *IS* a Store of Value, similar to gold, disconnected from macro forces...

For all the statists that say Bitcoin is a scam and isn't a Store of Value, your fiat printing overlords disagree with you. Even tho their initial quotes are somewhat conflicting, and the conclusion claims to need more data.... this study portrays Bitcoin's price to be less connected to macro forces than other assets.

https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1052.pdf

​

Here's one of the best quotes....

​

We then compare Bitcoin with precious metals. Bitcoin shares most of the featuresof a store of value, such as gold. The number of units is finite and it can be used tohold and transfer value.

As designed by Satoshi... Bitcoin is MONEY. The finite supply & disinflationary nature of Bitcoin are THE KEY ELEMENTS OF MONEY! And as we saw the markets react to JPow's speech last week, we realize that they love disinflationary money, too! It's truly the best form of inflation.... and Bitcoin's got that covered for the next 117 years!

​

Crypto assets are highly volatile (...) They’re more of an asset for specu-lation, so they’re not particularly in use as a means of payment. It’s moreof a speculative asset. It’s essentially a substitute for gold rather than forthe dollar”Jerome PowellFederal Reserve chair(March 23, 2021)

You guys might've heard or seen this quote from JPow a couple years back, but he obviously didn't know anything about the Lightning Network.

​

Unbacked cryptos lack any intrinsic value, too. They are speculative as-sets. Investors buy them with the sole objective of selling them on at ahigher price. In fact, they are a gamble disguised as an investment asset.”Fabio Panetta(January 5, 2023)

This was obviously thrown in at the beginning to discount a large majority of Bitcoiners, who have no intention of selling because WE LIKE MONEY > CURRENCY! I know I'm not the only one that has zero intention of "mining fiat". What's the point, when you KNOW your currency will have lesser purchasing power over time?!?

The intrinsic value of Bitcoin is in a monetary settlement layer that is built around Trust Minimization to the most extreme measures. If you don't know what Trust Minimization is, I made a post about it here that didn't get a lot of traction --> https://www.reddit.com/r/CryptoCurrency/comments/10vuxvq/do_you_understand_what_trust_minimization_is_if/

The PoW network, composed of the ABSOLUTE highest form of security, where there is ZERO trusted third party (no permissioned entities, as seen in XRP, BNB, Hedera, etc.) and ONLY math + energy + work create an actual product of value that not only mines new blocks, but protects the ENTIRE blockchain from being compromised. A monetary settlement layer that acts like digital gold, that's incredibly divisible and instantly verified (this is perhaps 1 of the greatest reasons that merchants don't accept gold, which is by far the best form of money man had ever known before Bitcoin). If this isn't intrinsic value, I don't know what is.

EDIT:

• For the people downvoting EVERY comment (Guessing Nanobots that didn't watch the video in my link about Trust Minimization? --> https://youtu.be/D5LpgX-pkUM Might as well lWATCH & LEARN why the "democratic representation" of DPoS / ORV are just as bad as the TRUSTED entities of any other shitcoin).....
• For those who can't help but focus on the quotes, which I *already* quoted....

It’s essentially a substitute for gold rather than forthe dollar”Jerome Powell

Gold = Historical SoV. There is NO OTHER Store of Value. That they recognize Bitcoin *is* "digital gold" is no coincidence.

Gotta read between the lines.

"Lacks intrinsic value" is obviously a bogus claim, which I clearly address, above. It's really their way of trying to backpedal what JPow said thru a flat out lie. Here's some more clarity for you that just don't get it, straight from the mouth of Goldman Sachs' Jeff Currie (global head of commodities research) --> https://twitter.com/BTC_Archive/status/1623278863022272516