205 sats \ 1 reply \ @SimpleStacker 26 Oct 2023 \ parent \ on: What if price matters a lot? bitcoin
This.
Price matters if you define price as the exchange rate between bitcoin and other goods. After all, what is the point of bitcoin if we don't use it in exchange for other goods? And one of the things we like about bitcoin is that its value won't be depreciated relative to other goods by endless printing.
However, the way I would phrase it is short term price fluctuations don't matter. So the people who constantly stare at the ticker price and obsess over it are wasting their time. Short term fluctuations can happen for any number of reasons at this early stage. In the long run, Bitcoin is the superior monetary technology and will be adopted
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1 sat \ 0 replies \ @SpaceHodler 26 Oct 2023
I would say fiat price doesn't matter, regardless of whether it's short term or long term. I'm not interested in whether bitcoin goes to $1m by a given date, but rather what I can buy for it. If I can still buy a car, good. If I can only buy a bicycle or a pack of chewing gum for that $1m, then I've lost purchasing power.
Short term price doesn't matter, because we're in it for the long haul. Long term price doesn't matter, because price is only a short term proxy for purchasing power.
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