1/ IMO Bitcoin HODLers *can* become free riders. Clarifying my thoughts here. If you think my logic is wrong, pls comment! Economics is one of the areas I both love & hate because it’s such a pseudo-science. But it’s still important to think things thru.https://twitter.com/hugohanoi/status/1021131553336786945 …
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12/ Sliding scale not binaryhttps://twitter.com/hugohanoi/status/1021921656913068032 …
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Does this make any sense at all or am I crazy?
@real_vijay@nic__carter@TuurDemeester@BMBernsteinShow this thread
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Very interesting - I think your argument should expand to all stores of value though. Bitcoin, for all its greatness, will complement or be complemented by real estate, stocks, etc
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I think it applies to all *non-productive* stores of value. But yes, some of the value stored in BTC should be shifted to stocks when appropriate. There's probably a healthy ratio of non-productive vs. productive depending on the circumstances.
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Money is not equity, period.
When you park capital in a non-productive asset, it is OUT of the system completely. Decommissioned.
The non-productive asset value can only rise if it piggybacks on the success of productive assets.