Here Are 4 Reasons Why Bitcoin Price Does Matter.
781 sats \ 6 comments \ @ssaurel 19 Nov 2023 bitcoin
Bitcoin Price Is Not the Most Exciting Thing About Bitcoin, but Bitcoin Price Does Matter.
Here are 4 reasons:
  1. When the price of Bitcoin increases, the adoption of Bitcoin accelerates, as we enter the Bitcoin Positive Feedback Loop.
https://www.bitcoinpriceinwords.com/bitcoin_positive_feedback_loop.jpg
  1. When the price of Bitcoin falls, it gives a chance to new entrants to take advantage of the Bitcoin revolution.
  2. When the price of Bitcoin rises in fiat currency, goods, and services see their price fall in standard Bitcoin.
  3. Studying the price action of Bitcoin is something extremely interesting.
After what I just told you, I maintain that the price of Bitcoin is not the most exciting thing in the Bitcoin world.
The impacts of the Bitcoin revolution on the world today and tomorrow are much more exciting to study.
However, the price of Bitcoin does matter in terms of getting new people interested in the Bitcoin system.
This should not be overlooked, as it is part of a kind of marketing that benefits Bitcoin adoption.
On the other hand, once you understand the why of Bitcoin, you will do as I and other Bitcoiners do, you will be interested in the price of Bitcoin, but it will not change your strategy with Bitcoin.
Your interest in Bitcoin is long-term, so studying the price of Bitcoin should only be done for the sake of discovering how this market works, not to take foolish risks that would jeopardize your adventure with the Bitcoin revolution.
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316 sats \ 0 replies \ @siggy47 19 Nov 2023
I agree. I posted this back in March expressing similar sentiments, and got some pushback: #157847
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11 sats \ 0 replies \ @quark 19 Nov 2023
I agree it is important. I have an alert set at the price of $999,000 because I don't want to miss the party of the breakout to 2 million. 🤠
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1 sat \ 0 replies \ @ShortSimon 19 Nov 2023
We all come for the gains and stay for the revolution.
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0 sats \ 0 replies \ @BTCLNAT 30 Aug
I totally agree. Many of us are drawn to Bitcoin because of its prices and even because we trade with it as if it were a stock market. Then we started to get to know it, we started to fall in love with it and now we can't separate ourselves from it even if it means losing the supposed freedom that this enslaved world offers us.
But it is also true that an important aspect for the general adoption of Bitcoin is related to its price and it is important that people know that it is a strong asset, with a future and scarce, that now is the time to accumulate what we can. It is also good for people to learn that in times of decline we must buy and accumulate and in the rise sell something scarce to have liquidity and thus accumulate again in the correction that always occurs or in the manipulation that sometimes makes the price ask for its mouth.
For us it is not the most important thing, but it is important in its adoption.
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0 sats \ 0 replies \ @TwoLargePizzas 19 Nov 2023
Another reason the fiat price matters is that it's a proxy for purchasing power. One day, it won't be.
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0 sats \ 0 replies \ @Scholarhacker 19 Nov 2023
Of course it does. Even the most diehard “Bitcoin is the money” bro’s know its price relative to “Fiat” is important.
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