Parman - Activate OP_GFY now!! on Nostr: The price of Bitcoin is reflected by the value assessed by the people that have it, ...

The price of Bitcoin is reflected by the value assessed by the people that have it, and, WANT IT THE LEAST.

It is not a measure of adoption, just a partial indicator - eg a historical look at cycle lows can give some indication. You can never see adoption in today's price.

It's also important to understand the price is not a justification for the validity of a token to compete as money.

No matter what price a shitcoin may achieve, or the returns it has provided, you should never use that to justify its existence. High price scams are successful scams, and will all eventually fail as money.

Similarly, you should not use Bitcoin's price as justification for it being the best money contender.

So how is adoption measured if it is not with price? Fundamentally, adoption is the size of the network of people preferring to receive Bitcoin as payment for their time and labor, in terms of the portion of that payment they wish to keep as their savings in Bitcoin, rather than convert back to their local government shitcoin... This is not something that can be easily measured and it is not seen with clarity in the price.

By the way you should also not use the price of a shitcoin to attack it, because then you are supporting the idea that price can be used to assess if something is a scam or not.