It seems now that BTC and many of the main cryptos are our of reach for a majority of people. It’s become a speculative disaster waiting to happen. A peer to peer decentralised form of payment now left in the hands of 2 individuals who own more than 40% of it and an ever increasing and volatile price which makes transacting in BTC for goods and services practically impossible. It’s fair to assume that satoshi would be appaled by what is taking place.
Man hell to the no this price is not justified. I think of bitcoin as the original utility token. there is no bitcoin inc, or a centralized entity making profit and sharing it through bitcoin; the price rises hopefully as people realized the utility it provides, and increases demand. So as I frequently state, what utility has been built in recently, hell, even since 2017, that would justify this price. Either I missed something huge, or bitcoin is the most undervalued asset in the world atm.
and you are right. if we dont get a handle on the price, it will never be attractive to merchants in a real way (accepting bitcoin and immediately converting it to fiat is not helpful to the ecosystem, its downward sell pressure tbh)
