Again, I respectfully disagree. Your assumption is apparently based on an idea that BitCoin valuation isn't a bubble. I don't share that view.
If I earn $50,000, and I need to pay my income taxes in dollars, rather than in BitCoin, then it matters a great deal if I can't convert my $50,000 worth of BitCoin back into enough dollars to even cover my tax bill. Not only am I unable to pay my taxes, I'll have nothing left to live on after I pay what I can.
That matters.
The only way valuation doesn't matter is if BitCoin completely displaces USD for legal tender. Then I get paid in BitCoin, I pay taxes in BitCoin, all investments are quoted and paid for in BitCoin, and I make all other purchases with BitCoin. If everything else is valued in BitCoin, the question of BitCoin's valuation then becomes moot for anything other than foreign exchanges into other currencies.
Until then, valuation matters.
But not being able to convert your $50,000 worth of bitcoin back to USD operates under the assumption that the bitcoin network no longer provides value to people and therefore there are no more people looking to buy tokens in order to use the network.
Again, you're reading way more into my statements than what I actually said. I will not waste time arguing the opposing side of points that you want me to argue against, but that I never made, or even oppose, for that matter.
I am assuming nothing, except that the valuation of BitCoin is a bubble.
It is a fact that the perceived value of BitCoin is priced in USD.
It is a fact that the imputed value of BitCoin is determined by a free and open market.
It is a fact that volatility, regardless of whatever incredulous, and hypothetical future, is very much in play right now.
It is a fact that it lost over $500 in imputed value yesterday. 5%+ in a single day.
It is a fact that you cannot pay your taxes in BitCoin.
It is a fact that the typical honest worker does not get paid in BitCoin.
It is a fact that nothing at any significant scale is priced in BitCoin.
It is a fact that the vast majority of all purchases must be converted into USD to consummate the transaction.
It is a fact that BitCoin is not legal tender for all debts, public and private.
It is a fact that valuation matters.
So tell me, please, which of these facts you regard as assumptions, and how the valuation
"doesn't matter." Then we can very quickly, and quite efficiently, agree to disagree.