“Why is Bitcoin going up???”
The questions pops up every time there’s a nice rally, people start scouring the news and Twitter to try to figure out why. But does it even matter?
It may soothe our desire to be right - to know that others are in the same boat as us in our evaluation of this new money, but after a while you know the day to day movements don’t really matter.
All that matters is that Bitcoin keeps on working as it was designed.
Obsession With Bitcoin Price - Why the Interest?
The dollar price of Bitcoin is merely a reflection of the total number of people who have adopted it, and their collective level of conviction.
After Bitcoin was created, there were a few years when it was valued at less than $5 per coin. What changed? The collective knowledge about Bitcoin - what it was, what it represents, and what it could potentially mean for all humans alive.
As humans - we have a deep desire to communicate with each other.
Communicating value has always been difficult as language and cultural barriers often interfere. Add to that the human tendency to be greedy, and you have a recipe for a monetary system that disadvantages a huge segment of earth’s population.
Bitcoin is merely a reflection of the human desire to communicate and transfer value in a fair and efficient manner.
What Does the Price of Bitcoin Really Mean - Winning!
When you zoom out, the fiat price really communicates one important fact:
BITCOIN IS WINNING
Its not really difficult to come to any other conclusion.
Collectively, humans see this token as being being valued at a much higher price point than when it was introduced. Could it just be an illusion? A so-called ponzi as critics scream day-in and day-out?
Nah. Its simply a parallel money system - an inclusive rather than exclusive club.
Trillions settling in “dollar value” every year on the Bitcoin network, and millions worldwide build around this network voluntarily to make it stronger and more robust for not only themselves, but their children.
Yet a Higher Dollar Price is Not the End Goal - Removal of the Old System
There will always be a stream of speculators drawn to Bitcoin.
The initial goal is always going to be “wen Lambo?” for these newcomers, even when the next level of institutional money starts rolling in.
But everything is good for Bitcoin, always remember that rule.
New eyes, new minds and new capital - these things are the lifeblood of the emerging Bitcoin network.
With Bitcoin, is simply is a matter of time.
As each person recognizes the superiority of Bitcoin, they contribute both intellectual and real capital to the cause - building the new system as the old one fades into oblivion.