Quote from: larry_vw_1955 on July 08, 2022, 05:45:20 AM

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

the majority of bitcoin buyers today are people who buy them on a fiat basis with the aim of increasing the value they invest in, so that when the price of bitcoin drops, they will immediately complain and panic. In addition, when the price of bitcoin drops, the media is busy spreading the news very quickly so that the panic grows.