I agree with everything you said there. I also wrote an article using Titanic as a metaphor. Personally, I put as much of my time and energy in the new system as possible. My whole life revolves around Bitcoin in most ways, which is great.

However I think telling people not to measure bitcoin in dollars is ignoring the current reality we are living in.

For example, if Bitcoin consistently lost fiat value year over year nobody would want to own it. It would have minor advantages over dollars (self custody/ censorship resistance ect), but I think NGU is fundamentally essential to bitcoin's success.

Claiming otherwise ignores economic reality. Maybe that's not Jeff's point or yours, but that's what I'm hearing when I hear someone way to stop measuring bitcoin in dollars.

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My read of Jeff’s “don’t measure bitcoin in the piece of paper” is: lots of people stop there in their understanding of bitcoin and all they see is NGU.

That typically leads to thinking it’s ok to hold ETFs, playing leveraged games, and planning to one day sell back to USD.

After you’ve understood that bitcoin is the new base layer and you choose which system you contribute your time and energy to, then it doesn’t hurt to make note of the USD price from time to time, because you won’t be going back and you’re just observing the natural disorder that must occur during a phase change like this.

This makes sense. I'm likely just reading into it too far because I'm too far down the rabbit hole to understand how most people are thinking about Bitcoin to begin with 🤙