We are happy. Bitcoin is dead. Again.

Every cycle brings the same headline. The price falls in fiat terms and commentators declare the experiment over. Traders panic. Critics celebrate. Speculators disappear. And quietly, some of us feel relief.

I would gladly see bitcoin return to one dollar. Not because I enjoy volatility. Not because I want people to lose money. But because lower prices strip away illusions. They reveal who was here to speculate and who is here because they understand what this is.

Bitcoin is not an asset competing for yield inside the current system. It is not a company that must produce quarterly results. It is not a bet on innovation. It is a monetary network with a fixed supply that cannot be politically expanded or quietly diluted.

If that is true, then its price in fiat currency is temporary. It exists only because the older system still dominates global trade and accounting. Measuring bitcoin in a currency designed to lose purchasing power is using a moving reference to judge a fixed one.

If bitcoin fulfills its purpose, there will be no meaningful price in fiat terms. The comparison disappears when the older monetary system fades. Monetary systems are not voted out. They are abandoned when something more reliable proves itself over time.

So a falling fiat price does not threaten the long term thesis. It accelerates clarity. It lowers the barrier for those who understand that this is not about multiplying dollars, euros or yen. It is about opting into a system that does not move the denominator.

Price volatility matters to traders. It matters to headlines. It matters to those trying to win inside the current framework. It matters very little to those who see Bitcoin as the gradual replacement of that framework.

If this sounds extreme, consider a simpler question. What happens when an honest monetary system competes with one that can be expanded without limit?

*Original article: *https://bitcoinawareness.substack.com/p/we-are-happy-bitcoin-is-dead-again

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