in

Bitcoin Price Action Does Matter


This is an opinion editorial by Joakim Book, a Research Fellow at the American Institute for Economic Research, contributor and copy editor for Bitcoin Magazine and a writer on all things money and financial history.

When bitcoin tumbles, Bitcoiners get poorer. They don’t have fewer sats in their (hardware) wallets but can get radically less stuff with those sats — hence “poorer.” Poorer Bitcoiners can do fewer things in the world; they have less command over the world’s economic resources. If you think Bitcoiners have something practical to contribute to the world, this is a bad thing.





Source link

Leave a Reply

GIPHY App Key not set. Please check settings

What do you think?

Crypto broker goes bankrupt, Bitcoin miner capitulates and China VC funding soars

Bitcoin: This is what traders can expect after BTC’s slow and steady comeback