nicodemus on Nostr: If you think the eurodollar world currently sees bitcoin as stable ground, you are in ...
If you think the eurodollar world currently sees bitcoin as stable ground, you are in for a big disappointment. There is still a ton of work to be done and bitcoin, as devoted as I am to its purpose, still has a lot left to prove. I believe bitcoin is, in the long term, the best destination of value during a flight to safety - but it has yet to prove it can handle the eurodollar scale. I think it can, as-is, with some bumps along the way, but the world at large certainly does not agree, else adoption would be higher.
The idea of bitcoin being 10x higher and the stock market being 80% lower at the same time suggests a huge economic downturn (way beyond typical volatility) AND the eurodollar participants exiting the system into bitcoin. Think about all of that value leaving that system and into another, and what that means. Highly unlikely.
Much more likely is that the shift to bitcoin is slow and gradual, such that stocks are fine. OR, if the stock market plunges, it means a huge hit to production - which will hit bitcoin too.
The idea of bitcoin being 10x higher and the stock market being 80% lower at the same time suggests a huge economic downturn (way beyond typical volatility) AND the eurodollar participants exiting the system into bitcoin. Think about all of that value leaving that system and into another, and what that means. Highly unlikely.
Much more likely is that the shift to bitcoin is slow and gradual, such that stocks are fine. OR, if the stock market plunges, it means a huge hit to production - which will hit bitcoin too.