0 sats \ 0 replies \ @Michelson_Morley 1 Nov 2023 \ parent \ on: What if price matters a lot? bitcoin
Yes measured in dollars you are quite right. That's not what price is though. Nothing has intrinsic value, in the sense that binds it to price. Bitcoins price—its collectively summed up perceived value by all actors on all markets— fluctuates more than the dollar. How many cows is a bitcoin worth in a year? How many dollars is a cow worth in a year? This is what i mean by unstable, "bad intermediary of change".
It's also a good point in favor of bitcoin maximalism. Regardless of if any other coin has better qualities in every way (cough monero cough) the goal we are trying to achieve is replacing fiat with unmanipulable money. And bitcoin is 10 times stronger than monero at least.
Yes i was being hyperbolic. But do you see people online going "The US dollar hasn't even reached 1% of it's potential!!! I'm HODLing dollars until 1 dollar is worth 100000000000 euro!!!!!!!" ? Not great intermediary of exchange. But not a disqualifying point either. Bitcoin is gold, store of value. Lightning can be the money.