Low prices won't stop Web3, here's why...
Here's an uplifting story to kickstart your week:
Coindesk's George Kaloudis was at a Bitcoin coding conference last week, where the best and brightest get together, to create solutions aimed at putting blockchain technology in the hands of millions.
While he was there, the news broke that inflation rates hadn't dropped as much as they were expected to.
Health insurance was up 28% year over year (the largest increase ever), groceries were 13% more expensive than a year ago and rent prices were up 7.2% (the highest in four decades).
As a result, Bitcoin dropped almost immediately, shedding ~$9B in value within an hour.
And...no one in the room seemed to care - not a single eyelid was bat.
They just kept on discussing solutions to Bitcoin's Lightning Network, which aims to bring BTC into global commerce (essentially making it available anywhere and everywhere).
G-Kal noted his realization:
"Builders will keep building no matter what.
So while the rest of the world is not paying attention, the developers who work on Bitcoin every day are spending time breaking things so that they can fix things to make Bitcoin even stronger."
If wild price fluctuations ever have you stressing, come back here, read that there quote, and remember:
The folks building these systems are going to continue working, regardless of the day-to-day price.
( Calming, no?)