Why price brings more people to bitcoin than the technology

• Many people within the crypto space will make the claim that they are in the industry for one reason only, and that is because of the technology. 

• But even though many people are involved in bitcoin and other crypto assets for the technological side behind it, more people than most are in it for the money aspect.

Many people within the crypto space will make the claim that they are in the industry for one reason only, and that is because of the technology. But even though many people are involved in bitcoin and other crypto assets for the technological side behind it, more people than most are in it for the money aspect. 

After all, money makes the world go round…

When the financial crisis happened in 2008, bitcoin was created in order to take on the conventional financial sector. The main goal of the assets was to create an alternative which people could turn to when financial policy is made that hurts the people but helps the rich.

During times that we live in now with protests and demonstrations going on throughout the world during the COVID-19 pandemic, the message of bitcoin being a peaceful protest is a message we are seeing over and over. The CEO of the Binance platform, CZ is a big believer of this ideology. But on the other side, the ETH founder, Vitalik Buterin has said that the ability for cryptocurrency can go far beyond just reform of the financial world. 

The founder further says that the advent of blockchain tech could lead to a broader power for the people of the world. But within the crypto space, a lot of attention and interest is spent on the speculation of value. @ThinkingBitmex on Twitter gave his thoughts on the matter earlier this week.

The unspoken truth about Bitcoin:

Everyone has a price. The only reason you own this asset is to sell it for more US dollars than you bought it for. If you truly were "Against the system", you would be indifferent to price, as you do not care about the dollar valuation.

— ChimpZoo (@ThinkingBitmex) June 17, 2020

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!