not sure if this is entirely correct, though it doesn't feel entirely wrong either
NGU is just an expression of how much people value bitcoin at a given time. Things can be overvalued or undervalued at times based on sentiment.
You can get lots of NGU and still lose some purchasing power since fiat is a flawed political metric.
The real engine behind NGU is utility value, that's what has been working for bitcoin since inception - the real engine. Growing bitcoin economy. More goods and services, more payments demanded in bitcoin = more capital to work with, including more NGU.
From bitcoiners perspective, what you actually care is number go down - constantly decreasing prices expressed sats and key indicator of bitcoin growth. From normie's perspective, sure - NGU is all that they see at first but we really want people to come and stay for the utility value and native offerings rather than having a digital pet rock for flipping on fiat rails.
tl;dr: NGU is a dollar-centered, distorted view, not the engine. Real value creation necessarily involves risk and is expressed in NGD.
Maybe I'm just retarded but the above seems more accurate to meπ
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