I love DJ, but him and Mr. Booth say this kind of stuff a lot and I agree that it’s philosophically true and is a sound long-term perspective. But, beyond a way of framing your view of the world, it is practically meaningless for most people who struggle to save money and who live paycheck to paycheck. Again, this is _most_ people. TLDR: NGU is not just a meme, if number doesn’t go up then it won’t be the denominator in any meaningful sense.
Dr. Jeff's avatar Dr. Jeff
The fear is palpable among the many who still price their lives in dollars or other fiat currencies. Few understand that Bitcoin is the only Denominator that matters.
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>NGU is not just a meme, if number doesn’t go up then it won’t be the denominator in any meaningful sense. What's the timeframe for NGU and what is the expected volatility? I feel Bitcoin is behaving more or less as expected given its historical trend, but everybody is kind of panicking
My post wasn’t about the price action presently, it’s about the commentary from people who don’t have to worry about feeding themselves on a daily basis and that dismiss denominating bitcoin price in fiat as some kind of perspectival error. Even if they are rightfully predicting that bitcoin will be the world’s money 100 years from now that is a perfectly meaningless hypothetical to the vast majority of people in the world today.