I've noticed that there are many people who approach bitcoin as though it were some form of "get rich quick" scheme. But, in reality, the true value of bitcoin is transmitted through its utility. As long as an equal day's wage is exchanged for an equal day's productivity, the system will be sustainable. Yes, early adopters were blessed with the fortunate opportunity to be "in the right place at the right time" but that was only because they were the first to recognize and understand bitcoin's utility and that "blessing" was just a side effect of the larger picture.
If bitcoin's monetary value increased without bound, then the experiment will fail. Only when bitcoin can be exchanged with equity (labour hour for labour hour, productivity for productivity) can it be considered a success. If bitcoin is held as an investment, and bitcoin's price continued to increase at the expense of late adopters, then wealth will centralize as opposed to distribute....
So, when we're pondering the direction we should be guiding bitcoin, should we approach it as an investment opportunity or as a vehicle that opens up freer and fairer access to the global economy and the world's resources? Is bitcoin a "get rich quick with very little effort" opportunity or is it an opportunity to bring about social and political change by taking back control of our personal productivity? These are questions we should be asking ourselves....
Thoughts? Does the price of bitcoin really matter, or is bitcoin's utility where value is realized?
For me, it is both. Price also plays an important role aside from utility. It drives more awareness and people to accept and use bitcoin. If utility alone, there will be limited people to embrace the digital currency😄
