Ryan on Nostr: I think the only reasons the bitcoin price didn’t follow the stock-to-flow chart ...
I think the only reasons the bitcoin price didn’t follow the stock-to-flow chart more closely are 1. Paper bitcoin on exchanges introducing fiat banking inflation / manipulation and 2. All these altcoins are diluting the market cap. Current total crypto market cap of 1.17 trillion ÷ 21 million equals $55,714 per coin.
Leaving bitcoin on exchanges reintroduces the banking problems that bitcoin was invented to stop. And if money is the language of value altcoins create a Tower of Babel making the network effect of the whole system less effective.
There’s also the CME futures trying to short any bull market to keep it down. Chicago CME bitcoin futures went live the day the 2017 market crashed.
Regardless, the Bitcoin network is still the same as ever, and people just need to educate themselves to use it correctly. Store all bitcoin off-line in hardware wallets so exchanges can’t sell you bitcoin they don’t have. The more that happens the more Bitcoin is going to continue doing what it was designed to do, separate money from state and redistribute wealth to the masses.
Leaving bitcoin on exchanges reintroduces the banking problems that bitcoin was invented to stop. And if money is the language of value altcoins create a Tower of Babel making the network effect of the whole system less effective.
There’s also the CME futures trying to short any bull market to keep it down. Chicago CME bitcoin futures went live the day the 2017 market crashed.
Regardless, the Bitcoin network is still the same as ever, and people just need to educate themselves to use it correctly. Store all bitcoin off-line in hardware wallets so exchanges can’t sell you bitcoin they don’t have. The more that happens the more Bitcoin is going to continue doing what it was designed to do, separate money from state and redistribute wealth to the masses.