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0 sats \ 5 replies \ @jerry 18 Jul 2022 \ on: Does The Bitcoin Price Matter? bitcoin
Yes of course Bitcoin price matters.
Bitcoin price is signal of where we are in the bitcoin financialization process. Just comparing bitcoin at $0.02 and $20,000 give people different perspective what this beast could become one day.
If price is the measurement of success you're only setting yourself up for failure because when it does revert, you're saying that bitcoin is failing. To me price doesn't matter, hash rate matters, wallets increasing matter, capital in lightning matters, velocity of satoshis matter. Looking at stats within the system
Worrying about the secondary market so much what does it really help? If you going to compete on a price a new shitcoin with its first cycle is always going to outperform bitcoin and normies will flock to it
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If bitcoin price stay below this current price FOREVER, yes i would say bitcoin is failed to be what it supposes to be (or at least what I hope it to be), which is to replace central banking.
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Why? If people are still using it in droves, who cares? If people are buying and selling and finding value in the network.
Do you really think people who are not on the Dollar lets say the Malawian kwatcha are going to care if bitcoin is at 20k? It's already worth more than 85% of the world can ever hope to acquire in purchasing power
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sir, adoption drives prices. if we stay below say $20k forever, meaning there is no adoption. If got adoption, price will have to go up.
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Adoption comes with time, the longer the network remains alive and active the stronger the lindy effect becomes, the fact that governments are irresponsible with their monetary system pushing people to bitcoin is secondary
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