Hedraios on Nostr: (1) I think Bitcoin's fiat price is strongly impacted by people who value fiat more ...

(1) I think Bitcoin's fiat price is strongly impacted by people who value fiat more than Bitcoin, and see Bitcoin as a means to get more fiat:

fiat -> BTC -> FIAT
[repeat]

(2) But others value Bitcoin based on its own characteristics and utility, and these people are largely interested in only a one-way transaction:

fiat -> BTC.


#plebchain
#Bitcoin