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First of all, I'm a fan of bitcoin and I do wish it becomes successful. Having said that, can someone explain to me why bitcoin folk watch and cheer on when BTC
by martythemaniak 14y ago
First of all, I'm a fan of bitcoin and I do wish it becomes successful. Having said that, can someone explain to me why bitcoin folk watch and cheer on when BTC/USD goes up? It seems like a terrible metric to watch. This figure going up is not necessarily indicative of bitcoin's success and may in fact impede it.
In my mind, the question "what is the size of the bitcoin economy" is a far better question and will give you a much better indication of what's actually happening to bitcoin. BTC/USD * # of bitcoin will not.
In startup terms (ie, "You make what you measure"), it seems like the bitcoin community is optimizing the wrong metric.
- thirtyseven 14y agoProbably because it makes them richer.
- drewblaisdell 14y agoHow do you determine the size of the bitcoin economy without using relative terms?