If you measure your net worth in sats and have net income then dips (however prolonged) are beneficial.
It’s only when you measure your net worth in fiat that dips become stressful.
You could argue that with fiat denominated liabilities and lower price that your purchasing power has declined. That’s unavoidable.
Until you’ve onboarded all of your dependencies (food supplier, energy, etc) onto the network you’ll have to play the fiat games. This is why merchants accepting bitcoin is critical. Ideally directly and in self custody since in that case the trade can truly be denominated in sats.
Having a corporation in the middle, even if well intentioned, leaves room for fiat shenanigans to creep in and where possible should be avoided. This is not to say the recent work by Block is bad or unhelpful because I do appreciate their role in introducing bitcoin to millions of people. We just have a lot more work to do.
We would do well to learn from how Microsoft used their “embrace, extend, extinguish” strategy [1] to co-opt open standards for their benefit at the expense of basically everyone else.
Imagine an influential company like MSTR (or even a seemingly benevolent company like Block) doing similar with the Lightning network for example.
1.
