This is why we are here. To challenge each others perspectives and perceptions, but more importantly to challenge our own. It seems we have helped each other grow. This is community!

This is Bitcoin!

Stack sats, stay humble.

I could agree with most of you say in the post. Keep in mind one aspect: the "price" of to day, is the price you pay to get some BTC. You get BTC as store of energy, for future use. Bitcoin is damn energy stored in the perfect way that you can store it.

The "value" of your BTC you "buy" or earn today it still do not contain the future value of tomorrow.

Price is NOT value. The price in fiat money of buying 1BTC means your "entry point".

And here is an example in form of a meme:

Nah, it's not!

But yaaaaaaaaaaayyyyy!!!! $100K LOL

Great write up. Permission to cross-post this on Nostr please.

Adoption is what matters. In a scarce asset price should eventually follow, even if it doesn't in the short term. But to your point, growing adoption is easier when the price is stable or rising. If everyone thinks Bitcoin is dead because "crypto" is all a scam and blowing up or because price has dropped 70%, it is more difficult to explain to people why they need some.

Short term, yup you may be right. But most ppl hodling BTC don't think short term. Trend kills price.

Well this is true for now, but its interesting to observe the trend. More and more countries are ditching or trying to ditch the dollar as a global settlement currency. Its happening right now. It will only take selling oil for something other than US dollars and the ponzi will be over. So... using this price in dollars as information only works if you think status quo will remain the exact same. Which many bitcoiners believe it won't, and the trend is proving those bitcoiners right.

Its difficult for ppl to really grasp and understand this. PPL that have not lived with the consequences of your state debasing the shit out of your currency. Ask anyone in Argentina how much matters price of stuff in Pesos, its BS and now ask yourself how much longer can the dollar be printed to infinity while being a global currency... 5 more years? 10? Why does price matter that much?

Higher prices matter only those that want to milk the protocol to get more fiat, "the investment bitcoiners". My POV is, I am trying to shrink my fiat exposure, not making it bigger.

My only concern right now is getting my stack deeper and wider.

You can price BTC in anything. Don't need to use USD. As of now, 1 BTC = 3431.58 bushels of wheat.

The price going up in mind blowing ways is one of the ingredients of Bitcoin success recipe. It's one of the factors that causes the virtuous cycle of growth and adoption.

Many of us came to this for greed and stayed for the revolution, and that is fine. Most new joiners will come because of it, and that is fine as well. Nobody wants to become poor.

If Bitcoin's supply cap was not in place, thus removing the Ngu part of it, I would have very little faith in Bitcoin going mainstream any time in the future.

Price is the market signal.

Came to Bitcoin from my own greed and the dollar value go up a while back.

Learned a whole new unit of value.

Stayed for the revolution.

I think both ideas are right. Price doesn't matter in dollar denomination. But the value of the scarce unit is currently being priced against the most common "currencies"

Sats priced in oil, an acre of land, a winnebago, or as Darth pointed out, ramen. These are all abstractions we use to find "price".

Stop pricing Bitcoin in US Dollars and start pricing US Dollars in Bitcoin.

That's the way I like to think about it. BTC is the only money ever created to have a fixed supply. That makes it a very good measuring tape against everything else.

You can price anything in anything. For example, in the 1970s a house cost about 95,000 cartons of eggs. Today a house costs about 90,000 cartons of eggs. In other words, houses are getting cheaper relative to eggs.

That's pretty profound when you think about it. And it highlights how silly it is that we use dollars to measure price.

I disagree. Price increase gets a lot of low-conviction newbies. They are in it for the money, they'll go when price dumps and they spread missinformation about the fundamental values of Bitcoin.

I'd much rather have no price action and get more people that are in it for the ideals of a hard and decentralized money even if that means adoption is slower.

The long story short and also the well known golden rule is:

So the stable price is the measure of security of the bitcoin network.

And ideal situation is if price is steady, slowly increasing (like 1k/mo) and never going down.