> You shouldn't call it "losing 5%," BTC price is not an exchange rate, it's a measure of exchange volatility with an integral component tracking trust in ECC,

> You shouldn't call it "losing 5%," BTC price is not an exchange rate, it's a measure of exchange volatility with an integral component tracking trust in ECC, network availability. No, I'm talking about the exchange rate. I don't care what bitcoin means internally or how it functions, I care about what it's worth on the market today and tomorrow, because there's no to way live in the purely crypto world. That's the whole point of a currency, that you and I agree that some instrument of value will stay consistent enough to transact with. Crypto is just not there because the ecosystem is full of scams. You could design a perfectly federated system that's worthless because bad actors abuse the platform. If you build a system that assumes everyone is a criminal, then that's what you wind up building, a system in which everyone is a criminal.