The Bitcoin Standard by @saifedean is phenomenal. BUT Stock-to-Flow ratios in crypto are complicated: best to model StF of the staking resource, not just the coin. BTC hashing power had an awful StF ratio!
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I mean that units of the crypto asset acquired at t2 require ≫ staking resource than ones acquired at t1. It's a security problem for PoS currencies. Mostly an economic problem for PoW ones, in that it makes ownership of the PoW-mined assets less efficient as "proof-of-wealth."
Thanks. Twitter will use this to make your timeline better. UndoUndo
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