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You sort of made no point. Bitcoin falling below a certain price threshold is implicative and interesting to a lot of people. You aren't the target for this art

by bloqs 4y ago

You sort of made no point. Bitcoin falling below a certain price threshold is implicative and interesting to a lot of people. You aren't the target for this article maybe.

mettamage 4y ago
I may not be. Then, since I don’t see it then I genuinely wonder: what do you find interesting about it? The most interesting thing to me is how correlated it is to the S&P 500. It’s interesting in the sense that people used to say it’s an inflation hedge but it isn’t. Suddenly, we don’t see the opposite message so much (that it isn’t an inflation hedge). This shows a positivity bias and points to a certain information asymmetry. Just to point out how I believe an article with the headline of it falling below 20K could be interesting. The submission here is just a chart, not interesting. I guess this comment can be seen as showcasing some factors as to why it is below 20K :P I think that the smart money is running for the hills because the FED is performing quantitative tightening. Moreover, more and more retail traders are panic selling, realizing that it isn’t an inflation hedge (but not being vocal about it). Anyway, I’m just brainstorming. How do you find it interesting?
- Maxious 4y ago
  20k was the December 2017 peak of the ICO craze. I guess NFTs are the new ICOs/DAOs?
- badpun 4y ago
  > It’s interesting in the sense that people used to say it’s an inflation hedge but it isn’t. It's still a strictly speculative instrument which target (say, in 50 years) value is still unknown - may be anything, for example $1k, $100k, $0. As such, it's currently a terrible inflation hedge. Precious metals are much better for that.
  - mettamage 4y ago
    Checkout Patrick Boyle and the Plain Bagel. One of them gave convincing arguments that precious metals are not great inflation hedges. They tend to be academic yet practical about explaining financial markets.
    - badpun 4y ago
      They're great not in that you may have to wait for them 20+ year to catch up with inflation. Still way better than crypto though.

by bloqs 4y ago

You sort of made no point. Bitcoin falling below a certain price threshold is implicative and interesting to a lot of people. You aren't the target for this article maybe.

mettamage 4y ago

I may not be. Then, since I don’t see it then I genuinely wonder: what do you find interesting about it? The most interesting thing to me is how correlated it is to the S&P 500. It’s interesting in the sense that people used to say it’s an inflation hedge but it isn’t. Suddenly, we don’t see the opposite message so much (that it isn’t an inflation hedge). This shows a positivity bias and points to a certain information asymmetry. Just to point out how I believe an article with the headline of it falling below 20K could be interesting. The submission here is just a chart, not interesting. I guess this comment can be seen as showcasing some factors as to why it is below 20K :P I think that the smart money is running for the hills because the FED is performing quantitative tightening. Moreover, more and more retail traders are panic selling, realizing that it isn’t an inflation hedge (but not being vocal about it). Anyway, I’m just brainstorming. How do you find it interesting?

Maxious 4y ago
20k was the December 2017 peak of the ICO craze. I guess NFTs are the new ICOs/DAOs?
badpun 4y ago
> It’s interesting in the sense that people used to say it’s an inflation hedge but it isn’t. It's still a strictly speculative instrument which target (say, in 50 years) value is still unknown - may be anything, for example $1k, $100k, $0. As such, it's currently a terrible inflation hedge. Precious metals are much better for that.
- mettamage 4y ago
  Checkout Patrick Boyle and the Plain Bagel. One of them gave convincing arguments that precious metals are not great inflation hedges. They tend to be academic yet practical about explaining financial markets.
  - badpun 4y ago
    They're great not in that you may have to wait for them 20+ year to catch up with inflation. Still way better than crypto though.