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This is another great indicator. The skeptic would suggest it’s just a derivative of the price, but I think the simple fact that Bitcoin is exposed to more peop
by kasey_junk 9y ago
This is another great indicator. The skeptic would suggest it’s just a derivative of the price, but I think the simple fact that Bitcoin is exposed to more people indicates it has more utility so I’m good with this indicator.
- cwkoss 9y agoAside from price, it's a (very rough) measure of the number of people who would be willing to accept Bitcoin as a form of payment. The 'utility' of Bitcoin is you can pay for things with it, so the number of people who will let you pay for things with it is a reasonable-but-somewhat-lacking way to value the 'fundamentals.'