How does society adjudicate scarcity given that humanity hasn’t reached a sci-fi utopian post-scarcity existence? Infinitely abundant energy does not allow us to consume whatever we want whenever we want, which obviates the need for money. Therefore, we must use...
its a great post with all factually correct statements, but king arthur you do not finish your final point.
ofc this cycle can go on indefinitely, but the planned credit and monetary expansion assumes no economic or other type of calamity- namely, inflation or some kind of bond market implosion.
The easier answer is ETF flow is preventing a boom bust cycle by maintaining a permanent bid which was always absent in previous run ups causing the price to collapse. (But perhaps this bid is underway for the very reasons outlined in the essay). Moreover the market is way more mature with hedging and exchange quality than the shit shows of 2013/2017 (BTC collateralized perps) and 2021 was the helicopter money FTX/Luna bubble crash.
Declines in 2018 and 2022 affected all asset groups. People only analyze Bitcoin. You need to look broader at the market. Tables with different asset classes added by @charliebilello on X: https://x.com/charliebilello/status/1975553873185006060/photo/1
ICO stands for Initial Coin Offering. The most famous ICO was the EOS one where Block.one extracted $4 billion from suckers worldwide.--> And the bedrock from which Tether was born
Curious does Japanese liquidity play a role big enough to influence the cycles? We are hearing a lot about potential Japanese deleveraging happening. Thanks.
its a great post with all factually correct statements, but king arthur you do not finish your final point.
ofc this cycle can go on indefinitely, but the planned credit and monetary expansion assumes no economic or other type of calamity- namely, inflation or some kind of bond market implosion.
you lay the bull case, but you omit the risks!
The easier answer is ETF flow is preventing a boom bust cycle by maintaining a permanent bid which was always absent in previous run ups causing the price to collapse. (But perhaps this bid is underway for the very reasons outlined in the essay). Moreover the market is way more mature with hedging and exchange quality than the shit shows of 2013/2017 (BTC collateralized perps) and 2021 was the helicopter money FTX/Luna bubble crash.
Interesting argument and insightful as usual, but your writing reads like you went from single to married, or even got a vasectomy. AI?
Arthur, you sir, are the king 👑
Declines in 2018 and 2022 affected all asset groups. People only analyze Bitcoin. You need to look broader at the market. Tables with different asset classes added by @charliebilello on X: https://x.com/charliebilello/status/1975553873185006060/photo/1
ICO stands for Initial Coin Offering. The most famous ICO was the EOS one where Block.one extracted $4 billion from suckers worldwide.--> And the bedrock from which Tether was born
Death, taxes and printing money.
Bitcoin = Debt Forgiveness
Curious does Japanese liquidity play a role big enough to influence the cycles? We are hearing a lot about potential Japanese deleveraging happening. Thanks.