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.
Ryan
npub1l2…au2yj
2023-04-09 22:31:40
Author Public Key
npub1l2lp635jh5es2r00zcrmjn7029g2ntkgunhhcjf3n2yxmn6ztutqsau2yjPublished at
2023-04-09 22:31:40Event JSON
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"content": "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.\n\nLeaving 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. \n\nThere’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. \n\nRegardless, 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.",
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