My perspective is, Bitcoin not moving much on-chain typically suggests strong HODLing sentiment, meaning investors and users view Bitcoin as undervalued compared to its potential long-term value. When Bitcoin’s valuation reaches a level perceived by users as fair or appropriate—reflecting wider market acceptance or economic necessity—there will naturally be increased usage.

A low level of on-chain activity doesn’t mean irrelevance; it often indicates a mature base of holders waiting for the right conditions to use or move their coins. Additionally, with the growth of Layer 2 solutions like Lightning, more transactional activity moves off-chain, preserving the base layer primarily for security and high-value settlement. This combination is healthy for Bitcoin’s long-term adoption and stability.

Why is the "security budget" concern utterly nonsense?

Because there will always be enough nodes and miners to keep the network secure, especially now with #Bitaxe solo home mining on the rise. We don't need commercial miners that are only after the money!

👉 TAKE #BITCOIN MINING AWAY FROM CORPORATIONS BACK TO THE PEOPLES 👈 nostr:nevent1qvzqqqqqqypzpyrf2vkwd2rjyvm8h7cyndvzzejx4pq44z94gefe6ml65thtyx56qy88wumn8ghj7mn0wvhxcmmv9uq3jamnwvaz7tmswfjk66t4d5h8qunfd4skctnwv46z7qgnwaehxw309ac82unsd3jhqct89ejhxtcqyrx2fh42e2w5prqpx345f3z2wwzm6dhwyw6w9n8gpez02w55jmzzyx2gfq3