Quote from: pooya87 on January 11, 2022, 06:16:41 AM

This is why price is always arbitrary while value is fundamental. Which means demand (ie. buy orders) can drop on an exchange like it did in 2017 and price can drop down significantly (to 10 cents IIRC) whereas demand (adoption) for bitcoin remains the same ergo value of bitcoin doesn't change regardless of that arbitrary price drop.

In other words, you think that bitcoin has some "intrinsic value", that is, a set of unchangeable useful characteristics and properties that make it valuable in itself regardless of the market price and temporary supply and demand fluctuations. These inner qualities of bitcoin are what people adopting bitcoin should be thinking about, but not about a speculative demand for it where a bunch of traders, who primarily care about profit in fiat terms, decide every day at which price it is best to sell or buy bitcoin to maximize their wealth. I agree the qualities bitcoin has, the functions bitcoin performs, the freedom bitcoin may give to people are more important than the market price of it. All other people should think as I do to ensure bitcoin is being adopted for the right reason. However, the problem with "intrinsic value" (if such a thing even exists which I highly doubt) is that it is a highly subjective concept in the first place. The qualities of bitcoin that you consider inalienable and significant may be viewed differently by other people. For example, Michael Saylor doesn't care about the censorship-resistance of bitcoin because no one would censor Michael Saylor's transactions anyway. He also doesn't want bitcoin to be considered a medium of exchange because it implies inconvenience, additional regulatory risks, and uncertainty. This is not to say that I don't like him, I am just trying to make my point. Value is always subjective, it varies from one individual to another and cannot be measured or aggregated at all.