**Is price an attack?**

With a 20% monthly drop, #Bitcoin looks like anything but “money”.

_My L3 research protocol_

Layer 1, Surface:

Price drops, everyone stares at red candles, headlines scream “crypto = casino”.

Layer 2, Depth:

Volatility isn’t just a market quirk; it’s the perfect vector to discredit. Regulators don’t need to ban what they can delegitimize. A sharp downturn works as free propaganda, reinforcing the idea that fiat is the “stable” refuge, even when real inflation says otherwise.

Layer 3, Hidden Structure:

Is price an attack? You don’t need daily manipulation, just a fragmented market, shallow liquidity and CEX dependence. Instability becomes a political tool, not a financial one. The implicit conclusion they want you to accept is neat: “If it isn’t stable, it isn’t money.” The premise is circular, built so that state money always wins.