Crypto investors price holdings against dollars because cryptocurrencies aren't usable for everyday spending yet. The speaker argues they should value crypto in Bitcoin or Ethereum instead, though the dollar system makes that shift hard. He believes prices must rise for crypto to succeed, not just see on-chain adoption.
Crypto has not taken over to a point where you can pay your bills with it, and so you're always going to be wanting to value it against the dollar. If you have a problem with this, if you have a problem with people wanting to take profit into dollars so that they can live a better life, number one, that's crazy. And number two, why don't you start valuing your portfolio in Bitcoin? Why don't you wake up and actually value your portfolio against Bitcoin if that's your money, or Ethereum if that's your money? Trust me, no one's gonna care, you know what, no one's gonna care about that first of all. And your system that you're living your life in is in dollars, so it's actually going to make your life really hard, uh, to do that. So my point here is there's always going to be a group who is valuing their crypto against dollars, and therefore that's always going to exist, and we need to make it matter. It's unfortunate because the US dollar is a crap coin, uh, that they print into oblivion. Now, who knows what money turns into, uh, in 10 years, right? It might be everything is tokenized, everything runs on blockchain, Um, but you know, they can make things run on blockchain without making the prices go up. So this is the other issue I'm identifying. You have to do the prices, man. The prices need to go up.
