Bitcoin Forum

There are two types of price movements (https://www.coinbase.com/learn/crypto-basics/what-is-a-bull-or-bear-market): bull markets and bear markets. In the bull market, the majority of bitcoin investors are buying, demand outweighs supply, market confidence is at a high, and prices are rising. On the other hand, they are the opposite of the bull market. Bear markets are defined as a period of time where supply is greater than demand, confidence is low, and prices are falling.

In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System (https://bitcoin.org/bitcoin.pdf), Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.

So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?

The fact that Bitcoin's price is one of the big reasons for its huge adoption since its inception, we can't hide the fact that for the majority, the price is more important than its purpose as a currency. On the good side, however, that popularity leads more people to know more about what bitcoin really is aside from being considered mostly as an investment. There are lots of blockchain summits, discussions, meetups, and related events that are organized to give the community general knowledge about anything related to crypto, specifically bitcoin.

We also have to consider that using bitcoin as a currency is still limited to most places in the world, unlike the usual currencies. But as time goes by, we can expect that more countries will become bitcoin-friendly at such a point that most physical stores are now directly accepting bitcoin as legal tender.

Bitcoin has many more purpose than what it was created for, asides the peer-to-peer intentions for bitcoin, it has also found a purpose as investment worthy. Because we can invest in it, the price is more important than the first purpose it was created for, my reason is that it is the investment opportunity that made me buy some bitcoins in the first place, not for transactions.

Bitcoin price is a different thing as a whole and it volatility does not change the purpose for it creation no matter how, i have this assurance that bitcoin cannot be as low as equal to $1 again, when there's volatile in bitcoin price, it calls for a total concentrate on the shift about to take place in favour of it demand or supply which makes thearket price goes up or down, while bitcoin value has always remained despite these, it's still the same acceptable digital currency, asset, investment and profitable currency one can venture into with the highest number of people in search for it on the internet to benefit from it p2p network, that word decentralization is what the people want and as long as bitcoin remains the same standard it has always been, it will remain ever relevance regardless of it price volatility.

Price is a very important parameter of bitcoin which can satisfy its purpose. So both goes hand in hand and shouldn't have less priority above another. An electronic peer to peer cash system is fine, but unless a price tag is attached, what you will transact and how you will determine value? Without a price tag, it's simply impossible to transfer value using bitcoin. So price is very important factor which can satisfy its purpose of become and store of value. Nothing else will!

Most traders find price to important, its what makes bitcoin valuable. Generally, we all want its price to go up.

But the traders who often just trade on leverage and futures market are I think the ones that don't really value BTC but its price so they can acquire more USD. Nothing bad in making money though.  

Eventually, once mass adoption has been achieved then $ price isn’t as important. We have a long time until that happens though. For now, $ price per bitcoin is important to people. It’ll take a while until people can mentally accept things being priced in bitcoin rather than $.

with the price of bitcoin, people will be better informed of its purpose. It has been pretty evident in the few years that bitcoin had broken the mainstream internet. When people's trust rating of bitcoin is low, its price decreases and therefore along with it, its purpose is lost once again in obscurity, but when it does rise up in price, more and more people are becoming eager to know about bitcoin and its utilization. Although in the case of what's important, of course i would side with its purpose since that is what drove bitcoin to be created in the first place. But no one can deny how these two schools of thoughts complement and cooperate with each other.

Both the price and its purpose is very important. The price attracts more investors which leads to more publicity and adoption. It is also important to state that the drop or rise in price of Bitcoin is an avenue for investors to make profit, hence the price of Bitcoin is very important. But we must not loose sight of the main purpose of Bitcoin, which is to eradiocate middlemen in financial transactions. This is the main purpose of Bitcoin and it is through this means that Bitcoin would affect the common man on the street. Low and fast transaction charges because of the the bypassing of financial institution is the main benefit of people that cannot afford to invest or hodl Bitcoin.

It depends on who you ask, if you ask this question to speculators they will probably say to you that is the only thing that matters to them as they do not really care about the reasons bitcoin was created and I doubt they have ever read the whitepaper. The rest will say its purpose and the almost flawless execution of Satoshi was more important, but it is undeniable that the price and the volatility of bitcoin still play a huge role on why bitcoin has been adopted so quickly all over the world.

Unfortunately bitcoin is not used as intended. It is used as digital gold instead of digital cash.

I think that Satoshi did not expect bitcoin to become so valuable and beat the USD by so much. People were celebrating when it reached 1USD for the first time, then 10, then 100 then 1000...
One day it's going to reach 100k and you can't expect people to choose it to transact with over USD that loses more than 5% of its value each year.

The price is important because if it kept falling by 10% each year, you wouldn't find people willing to buy it. They'd simply choose fiat that loses value slower and is easier and cheaper to use. Being your own bank is nice but not if it costs you a lot of money. Bitcoin is so popular because it's not only a payment system but also an investment. 

Both idea are important, but I'm not a bitcoin adopter who can completely stay away from fiat. The idea of ​​satoshi is certainly very good about payment systems, but due to regulation and opportunities for profit, this mindset is formed among its users.

The price of bitcoin is important because then bitcoin becomes a valuable means of payment. Without a price, bitcoin would not be used as a means of payment ^{[despite not having it at the time of issue]} and both are equally useful for bitcoin. In my opinion, the price of bitcoin is more important than adoption as a means of payment, but of course because it doesn't interfere with other innovation.

Depends.

Depends on how you use bitcoin.

If you are an investor, price is all that matters. Obviously crypto adoption is a very important thing which drives the prices up or down but so is the FED's decisions. In the end it is the price the investor is ultimately interested in, nothing else.

If you use bitcoin as a medium of exchange as a consumer or a business owner, then you have the option to convert your crypto to FIAT instantly. Big credit card companies have these products if I remember it right. Bitpay does that for the merchants too. You don't even get any crypto, you just see the $$$ in your bank account and bitpay or the similar 3rd parties do the work for you. If that's the case then you have no business with the crypto prices.

Let's just admit it, the use of bitcoin will never be gone and we can use it at any time that we may be required. But the fact that it has a volatility in nature makes us look at the perspective of price is more important than its purpose. Although its purpose is to be spent and used as a payment, let's just accept the fact that there's another purpose of it these days and that is being an speculative asset for which the value of it is predicted and speculated by its own market, us.

Only few people are considered the purpose of bitcoin.They know the real value of bitcoin.Because they had invested their real money.So just check the price to know their profit or loss from their little investment.You should think about the one thing.The bitcoin value of 1 bitcoin is same as 1 bitcoin.Only the price was increased and decrease.The proportional value of bitcoin you had brought will be same and available in the market with certain period.

For me, the price is important but the purpose is more important because that's how Bitcoin was created. Bitcoin was created initially also because of payment. And Bitcoin also solves the current problems of our traditional finance like banking. We can have a bank from our pocket, that's the best use of Bitcoin for me. So price also important, because if Bitcoin got no price or no worth, it's useless.

I think they both work hand in hand, it is the purpose that bring about the value, without the purpose, there is no value, the price of bitcoin is as important as its purpose, so also is the purpose as important as its price.
Think of it this way ... If bitcoin was not useful --Purpose
No body would value it --price
And if price was not high as to draw the attention of many, alot of persons on the other hand would never discover bitcoin , let alone knowing it purpose ..
So both price and purpose of bitcoin work together for the good of bitcoin.
price gives it popularity..
while purpose gives it utility.

The ones whose been considered are the main supporters of its utility are to those people who had purchase or mined or invest into those early years.They do really believe on Bitcoins potential

and we know that the only way we could acquire is whether we do buy it from other people or would be mainly mining it.Later years it did really end up where majority of people been

eyeing into its value potential even though utility has been mostly ignored but cant really deny that people would really be looking after on its profitability.
Doesnt matter though because we do have different perceptions towards bitcoin or crypto market as a whole but there's only two options or reasons imho.

The price of bitcoin is a major attraction among the common people. When they initially get into cryptocurrency they never know anything about the real purpose. Even I don't know the real technology and the innovative things that made me into cryptocurrency.

Only after getting into the forum I realised how important is the privacy and how banks are stealing our money and having control over our funds. As if now we've got around 5% of the world population using cryptocurrencies in some means. If the price isn't this high or it hasn't experienced such a massive growth surely the usage percentage will be around 3%

It is undeniable that most people certainly consider the price of bitcoin to be more important than the actual goal, because if the price of bitcoin falls every year, it is certain that every investor will withdraw slowly, indeed the purpose of creating a digital currency in bitcoin is to run smoothly. decentralized spread not centralized, so that no one party regulates both the price and the distribution, but as time goes by most people are always asking about prices.

Admittedly, price is the top concern of investors but if you notice that price always goes hand in hand with the development of bitcoin, the higher the price of bitcoin, its adoption also increases. Bitcoin has gone beyond its original purpose thanks to the price increase, many people use it as an investment, a safe haven or a means of payment...So the price movement is perfectly fine for bitcoin without losing the initial target that satoshi was expecting.

Nope, the Bitcoin purpose is the most important thing how I choose Bitcoin over other currencies. I have never been comfortable if I leave my coins on centralized party where they're record all of my transaction, my personal information and freeze my money without any explanation. If I hold Bitcoin, I wouldn't face those problems and my Bitcoin is still Bitcoin, nothing will change. This is why I'm 100% trust with Bitcoin and most of my money are in Bitcoin.

Bitcoin has completed its purposes and the next channels was the pricing that is why they focusing on the price, we see it as digital gold since bitcoin can't feel or touched, but other hands Gold can be feel and touched or even seen at this point the pricing is the next that really matters to investors since its purpose has been accomplished I believe 20 to 30 percent of global population knows about bitcoin and 10 to 15 percent are likely to be using it for transactions as alternative means of payment.

No, the purpose of Bitcoin is for certain far more important than its price. That's for sure. After all, the price of Bitcoin is just a reaction to how Bitcoin is particularly designed. Of course, Bitcoin's design is such that it serves its purpose.

However, I'd be a complete hypocrite if I don't admit that Bitcoin's price is attracting me more than its being a peer-to-peer currency. If Bitcoin had a stable price, I'm not sure if I would want to accumulate a lot of it. At the end of the day, that it is a peer-to-peer currency is yet to be really felt locally.

No, the price of bitcoin is not more important than it's purpose.  If anything, bitcoin's increasing price over the years is very reflective of its ever increasing importance and use cases.

The benefits bitcoin has presented so far, out weighs whatever price simulations is inherent. The unstable nature of its prices is what makes it interesting to its users. For me, the purpose of bitcoin is far important than the prices.
There's many reasons to adopt the use of bitcoin, of which trade across borders and scapes is top on the list. A careful study of its bearish and bullish price fluctuations can also aid one understand better. It can provide an avenue to earn passively among other reasons one might require for its use.

I doubt there's a people who buy Bitcoin without looking at the price, actually most people are using Bitcoin to store a value or become investment asset. This mean they're mostly focus on the price in order to get huge return in the future. The Bitcoin purpose and use case is good: decentralization, but that's the part where anyone is feel safe to invest Bitcoin and the reason they're choose Bitcoin over other altcoins.

I think, majority of bitcoiners focus on Bitcoin price in the crypto market because if they can get it right during the bearish market to buy Bitcoin and hold until the market turn to bullish market, definitely they will have something good to achieve at the moment. Now that bitcoiners are expecting bull run before the end of this month, showed that those that invested in Bitcoin when the price was low in the market will not miss the opportunity. Bitcoin purpose are very important to the users, which are part of things that is making other countries to make it legal in their land.

Nowadays, people enter the market or invest in bitcoin largely because of the volatile price, rather than the technology or its true purpose. Just like you, I believe that people will realize the importance or great solutions that bitcoin offers only after they invest and start learning about bitcoin. I got to know bitcoin through a ponzi project and I became interested in bitcoin because of its volatility but I didn't know why bitcoin was created until later. It can be said that the price of bitcoin plays an important role in helping it grow and is a catalyst for people to pay attention to it to help it become more popular.

Both the price and the purpose of Bitcoin are important. The question is, to what extent are they important for the different kinds of Bitcoiners.
For the BTC traders/investors, the price is more important than the purpose. For the unbanked people living in poor countries, the purpose is more important than the price.
The true purpose of Bitcoin (being p2p electronic cash) isn't important at all for the people, who keep their BTC on centralized exchanges.
Those people are the majority of the Bitcoin users around the world. This is the sad truth.
I would say that there is a Pareto distribution, when it comes to the importance of both the price and the purpose. It's like 80/20.
80% is the BTC price and 20% is the purpose of BTC. That's how the people view Bitcoin.

For one aspect i want to consider the purpose as its morally and practically more important the freedom, decentralization the self custody and much more but for a narrow mindset and greed I can't avoid the Price point as for greed I need a reason to stay on BTC and its only the price of bitcoin if its stable even its decentralized and all these features I can be long term investor as I need money I want to grow up so both of things matter from a neutral point of view and this is a straight forward fact.

Both price and its purpose are important.
If Bitcoin has a good value, people are more interested to use Bitcoin. When many people are using Bitcoin, it will be easier to achieve the Bitcoin purpose. We cannot separate the value/price of Bitcoin and its purpose. Both of them are priorities, Satoshi should agree that Bitcoin price is necessary although he didn't state it in Bitcoin Whitepaper.

It is not easy to make Bitcoin to be global digital cash.
We need to ensure people that using Bitcoin is important. If Bitcoin has no price/value, I doubt people want to use it as digital cash.
So, to achieve the purpose should begin with the popularity of Bitcoin as a crypto asset.

Bitcoin purpose is unique because of its decentralised system,which makes it more preferable to fiat currency.  Most people holds Bitcoin because of its volatility ,which means they hold bitcoin because of its price. Now that bitcoin is in its bear market,bitcoin holders are not happy, some have even lost courage by selling theirs and when it hits the bull market,majority will also sell theirs to become rich.This shows that the price matters than purpose of its creation. Investors are getting the wrong idea on bitcoin.

Bitcoin was made for us to send money over the internet. This cryptocurrency was intended to have an alternative way of paying system that operate without the central control. We can't deny that one of the main factors in the massive acceptance of Bitcoin since its beginning has been its price; for most people, the price of Bitcoin trumps its function as a medium of exchange, because of these bitcoin's purpose was being satisfied.

Obviously the purpose, no doubt in that. I know people have now started using it merely as an investment tool but deep in the core bitcoin is a financial revolution. Moreover price is nothing but a function of demand which is created due to the underlying purpose only. So obviously purpose is much more important and honestly it has fullfilled it to some extent as well. Obviously not till a complete extent but still upto some extent bitcoin has achieved what it was created for.

Absolutely true, many people may have seen Bitcoin as an investment opportunity which is why most of us look and check more on the price rather than it's purpose.

However, It's purpose is what's more important as it is also the main reason as to why Bitcoin has its own value right now. Bitcoin may have not been the first crypto created but it's design, purpose and security is the reason why it's the most valuable crypto on the market.

I believe no one would likely to invest in bitcoin in the first place without its high price and high returns as people are more greedy in nature. However, not all people think like that because when you come to know bitcoin well and its purpose in the blockchain technology, you will discover that bitcoin is the future not only for its own high value but definitely of it’s own purpose. But if bitcoin’s price and purpose will go hand in hand, I guess that will be much better as it’s going to meet the satisfaction needed by the people.

Honestly, the bitcoin price is the only reason why I got involved in Bitcoin. I believed others have the same reason. If bitcoin has a stable price, it's like a normal currency for me and I might not be involved here just because of the technology.

But as I'm becoming an experienced user in crypto, I slowly understand the benefits of using bitcoin. However, fiat transfers also evolve their technology and I will say that fiat digital payment is far more convenient than using bitcoin.

Seems bitcoin will really be meant for investment purposes especially when bitcoin shows how strong it is during the peak of the pandemic.

Honestly, I am sure that investors believe that the price of Bitcoin will always increase although they are experiencing a bear codnition. It is because of their trust in Bitcoin, the technology, purpose, and also its real goal. They are sure that with this, many more people will acknowledge the existence and power of Bitcoin and its benefits. And what does that mean? More people will accept Bitcoin. Of course, this will have an impact on the price. And in the end, price is indeed the main priority for any investors to continue to invest in it, including Bitcoin.

The price of bitcoin is more important for those people who treat btc as an asset. They want btc to rise in price so that they can earn more if they sell but if btc is at the top, they are also wishing for it to go down for a while for them to buy it again. Those who use btc as a currency doesn't really care about its price that much because what is more important for them is that they can send/pay and receive money to someone else.

A lot of btc have been mined already but I think there are still lots of supply left and this is bigger than the demand but the demand is high, not low whenever there is a bear. Only those who have less confidence during that time are newbies.

Bitcoin has its high value because it has use cases and has been accepted globally.

From value, it has price on the market and despite of price volatility on market, its value increases solidly with time. Bitcoin has changed the world and forced governments to research, develop and launch their CBDCs.

Price is not important than value because we need it has value first. Value is made up of its use cases and adoption. Fortunately, we see both use cases, adoption of Bitcoin having growth with time.

Governments will not launch their CBDCs if they don't see advantages from blockchain technology and Bitcoin is a successful pioneer in blockchain.

CBDC tracker: https://cbdctracker.org/

very well-said. value should come first before the price. because how would it fetches a price in the market if it has no use case or application? mere speculation won't last. the price of btc today is owed to increasing use case of btc in the market. as payment method, the number of merchants are increasing integrating btc and other alts in their payment system. without its purpose or use case, the price of btc won't improve throughout the years.

For a practical answer, it is the price that is more important to me.  The purpose is secondary.  Why?  The purpose of Bitcoin won't feed me and my family.  True I can have freedom on transaction to send Bitcoin anywhere, anytime, but it won't feed my family.  Besides, in order to use Bitcoin it still needs to be converted to a fiat currency because stores that accept Bitcoin aren't available everywhere.

I think it’s very obvious that we are only after with the price of bitcoin the moment we enter bitcoin investment. We chose it because it may guarantee good profits and huge returns. However, as we learn to value more bitcoin and even established altcoins, we also get to know better it’s real purpose and how it will be very beneficial to the people. And it’s really a good thing that we come to invest in bitcoin, having both a good and impressive price plus an ideal purpose that will greatly help us to see financial growth and stability.

The Satoshi idea for Bitcoin creation is still very much active which is, Bitcoin being an alternative to fiat currency since the third-party system has so many limitations and paper money is subject to inflation, and Bitcoin as peer-to-peer electronic cash has performed that purpose and even though Bitcoin is also an asset, which price has to lead to wider adoption since most of Bitcoin holders are doing so with the expectation of it price rising due to Bitcoin volatility we still can't say Bitcoin price has become the sole organ of Bitcoin existence.

To be honest, the price of Bitcoin may be one of the strongest reasons why I want to invest in Bitcoin. Indeed, the technology behind Bitcoin and also a very strong goal. However, the price of Bitcoin that continues to rise has indeed become one of the very interesting and profitable things for investors, right? And I am also sure that most people expect the price of Bitcoin to continue to rise. Not hypocritical, if the benefits of investing in Bitcoin are inevitable. This is very promising, right?

Bitcoin was created in 2009 after the Goldman Sachs collapse and the global financial recession. It takes more than 13 years for Bitcoin to have similar chance to shine brightly when the world is in another recession. When fear is gone, mind is calm again, people will realize that they should hold their Bitcoin or buy more, accumulate more, not shake weak hands as they will regret a lot later.

Inflation, financial recession are perfect opportunities for Bitcoin to show its strength and attraction from finite total supply and technololigcal ability to allow people have and control their own banks.

Bitcoin won't be used if it does not have good usabilities which are built by top-notch technology. If it is not used by people, it should have no value. No value means no price on market as nobody is ready to trad, buy or invest in it.

The fact is Bitcoin perform a dual purpose as most time Bitcoin peer-to-peer payment is not always available offline and for security reasons, the most peer-to-peer transaction is done through the use of an exchange.
So Bitcoin can not exist without the banking system and exchange, and again Bitcoin price is one of the most important reasons why people adopt Bitcoin and that is why most people take Bitcoin as an investment other than a currency.

Going with Satoshi's vision, we have bitcoin that can be used without boundaries but there are other problems here, because that bitcoin cannot be easily spent for the article that you might need - at that point fiat currencies become more useful. So with that immediately comes in the question of BTC<>Fiat conversions. Eventually that market grew and became a speculative market.

1BTC is always 1BTC though, how much someone is willing to spend to buy/sell it changes with time depending on the demand/supply.

The purpose of bitcoin is still the same, but making a merchant accept that and making them use a bitcoin based payment system is a hell of a big job. Till then we can only rely on the P2P bitcoin transfers to buy/sell goods and not purchases directly with crypto.

Without the means to profit, I do not think Bitcoin will be that popular.  It is given that the purpose of creation of Bitcoin should be the most important thing but in adoption, people are driven by profit and rewards so at the current situation of Bitcoin, I think the Bitcoin price is more important.  Price volatility makes Bitcoin interesting, it also get the attention of huge company not because of its purpose but because there is profit to be earned.  I believe time will come that the purpose will weigh more than the price of Bitcoin but as of now, I believe almost everyone consider the price of Bitcoin to be the most important.

It is true as you have said but I think the price and value goes a long way to give it the desired attention it derives. If the value is not worthwhile, the price would not have be this hi high. The value makes the price appreciate. As it stands now, Bitcoin value has far surpassed many expectations and therefore gave room for the value. One of the most intriguing aspect of it is that it was the first blockchain Genesis therefore tagged digital gold which have paved way for other blockchain to emerge. Just as Satoshi Nakamoto has stated in the white paper which you stated already, the peer to peer value is another thing to look into because it is a botherless transaction and has since been the best options for transaction between and within customers doing business.

Never the less, price volatile is another beautiful aspect of blockchain because this calls for more investors. It is known that bear market is the best time to fill the bag so therefore investors makes good use of the opportunity to buy more which however increases their portfolio. Bitcoin price have never been stable and this gives room for profit making

So therefore, OP, as you have said in your topic, the both goes a long way to satisfy investors.

It's no hypocrisy that I'm here and I really support Bitcoin, one of the main factors because the price of Bitcoin continues to soar from time to time, especially during bullish times. And I'm also sure most people will be the same, wanting high profits from Bitcoin. However, it is undeniable that our increase and support for Bitcoin is inseparable from what is behind Bitcoin itself. The utility of Bitcoin, the trust, and the reputation that Bitcoin has are not the result of an instant process, but a very difficult process that has been passed. And if we are aware of the technology and the goals of Bitcoin itself, we will be more and more fond of Bitcoin.

It is an international borderless electronic currency.

On Earth, nowadays we have fiat currencies, Bitcoin, cryptocurrencies (alternative cryptocurrencies) and CBDCs. The number of available CBDCs is still small but it will increase with time when more governments and central banks develop and launch theirs.

It's good to have a diversification of different currency types to choose and use. It is helpful for daily usages locally.

It's true but investors have to take profit and get their initial capital safely back first. If they already have initial capital back, get some profit, they can strongly hold the rest bitcoins they have in 10 years or longer.

I see that the only purpose of bitcoin is to free us from the tyranny of the world economy that is controlled by governments and banks, I do not see that there is another utility, I know that Gold is an asset that is always worthy to have because of its wide acceptance, but I see that Bitcoin is much more valuable, both in price and in Shelter of Value, and I know that in a few years the price of bitcoin will be very high, so much so that it will be impossible for some people to acquire the bitcoin and now that there is the great opportunity at a price of $20k, which in 2017 was the highest price, are you thinking that it is very cheap and that it is useless, when it is at $70k will people think the same?

No definitely not, in my opinion is the purpose of Bitcoins 10 times more important than the price. For day traders it's all about the price, they are looking for the short term gain as they buy and sell each day. For me it's about the long term prosperity of Bitcoins. I stopped actively trading bitcoins a long time ago and joined the HODL community. It's much less stress and requires not a lot of time to buy and hold longterm. The price of Bitcoins is always going to fluctuate, as does any other asset in the world. But as long as there is a strong purpose behind bitcoins the longterm trend is going to be upwards. If bitcoin would lose its purpose, or become less dominant as the number one crypto currency, then also the price is going to be affected. Short term traders and long term investors need to work together to keep the bitcoin market active, if one of these groups would leave the market than the bitcoin price would collapse, and not recover if there is no new purpose for it.

For me it is hard to say whether Bitcoin is trojan horsing it's way into traditional finance in order to then activate things like anonymity and more efforts to remain immutable.  Right now though it certainly looks like Bitcoin price as an investment vehicle is all that matters.  So while I don't agree with this repurposing of Bitcoin as a hold only store of value asset, this may be what the world needs to let the horse in the front gates.  It is hoped that once Bitcoin has crossed the threshold of becoming inevitably used by the entire world, developers (who will have to be anonymous) will step up and provide us the privacy and safety needed to truly be free.

Also it is important to remember that without the technology and the ideals behind bitcoin the project would have never reached its current price, after all who would have bought bitcoin if it was centralized and controlled by a single individual? Such a coin would be even worse than the fiat currencies we have today and governments would have destroyed it long ago, so even if people do not care about the purpose behind bitcoin we know that it is the only reason why it still remains alive to this day.

Price is important, so bitcoin can fulfill its purpose, that is to provide a decentralized person to person transaction alternative. A minimum of stability is expected from bitcoin's price, so at the moment you purchased btc to send to someone on the other side of the world, its price will be almost the same on the moment that person receives the transaction. That is why price is important.

Otherwise, the transacted money could reach on the other side with a devaluation of 50% or more... on that case it wouldn' make sense to use bitcoin, as its purpose would be irrelevant.

Yeah, funny how many of us say Hodl instead of saying use it as a payment option. We can also read everyday Bitcoin news which tackles the ups and downs of the market, and when there is adoption news, the surge in Bitcoin market price is always attached to the news.  So this only means that Bitcoin price weigh more than its purpose at the current state of Bitcoin.

For me, Bitcoin's price works hand-in-hand with its purpose. Back in the old days, when bitcoin is still worth less than a dime not a lot of people are aware of its purpose, much more of its existence. But as it rose to power and price, more and more people are seeing its benefit in the financial and the security aspects. I do not think one is more important than the other, because without purpose, people wouldn't be so confident to invest on it and entrust their future to it, without price, no one would bat an eye to bitcoin and it would just be kicked into the curb like most ventures without enough financial backing.

I would not say that the price is more important than the reasons why Bitcoin is existing but since this is a P2P payment system and is openly traded in the marketplace we could never get away from the price...otherwise it would mean to have no financial value at all. Now, it would be safe to say that its purpose and its price are two important things for Bitcoin. This is like buying a shampoo...we are looking for its utility and of course we also look at the price.

People can only go with the mainstream. The fact on the ground is that the increase in value growth platforms such as exchanges and staking is more than the shops implementing bitcoin payments. The influencers also don't stop introducing bitcoin in terms of price and wealth prospects. With this influence, price has become the first talk of every bitcoin topic whether people think it is important or not.

However, this is what we are talking about when saying that you sort of need to care about the tech even if you are only an investor. As a tech person you won't need to care about the price because only thing you care about is the tech behind it and if all works perfectly as intended then people could sell it all, who cares, the purpose was to make it work in tech sense and the code works.

But, if you are just an investor, and the tech is wobbly and doesn't work right, that would still hurt you and the price would crash, so you need to care about the tech side as much as the price side, or the purpose as much as possible because all of that also impacts the price.

Although to activist, the qualities of BTC is the most important, they care about the price also.

As more people come into crypto, price becomes important because most are investors and speculators who are trying to accumulate. The price of BTC is the most talked about whenever it's mentioned. BTC is less attractive if the price dives and more talked about on TV when its price also soars to ATH.

Majority will choose its market value over its purpose simply because that is more beneficial to them/us especially as investors. Also, it is not yet accepted to most of the countries. Lastly, its volatile market value is quite of a problem on using it as a medium because there are times its value is high, and times wherein it is low. Would you wait for its msrket price to go up before you buy something? Ofcourse not, you'd be guilty by doing such 'coz you'd rather use money from your pocket. If you'd use it to buy things, you'd lose the chance to earn bigger profit, that's how simple it is, and the reason why people are mostly avoiding to use it as a medium for transactions.

But in the future, once more countries allowed it and somehow made its value less volatile, then that would be the time where the advantages of this technology will be maximized.

The majority that chooses Bitcoin value over its purpose doesn't understand the importance of Bitcoin because there's no way BTC will achieve its purpose that it won't impact the price of the BTC market.

Yes, the volatility of the BTC market has cons and pros. I could remember getting a loan from someone before the last bullish market and I have to x2 in USD the amount of loan I requested for.