93. The resilience of stock-to-flow with PlanB
The Bitcoin Standard Podcast
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Bitcoin Is a Capital, a No Bell Price Winning Model
There is very distinct relation between risk and return. So you cannot have te return without the risk. You know, ifif, if there was no risk in volatility involved,. But it has to be there, because this is a process of discovery, and knowledge is not. This is the key thing i think. As the price goes up, people become over leveraged. And as the price goes down, new production increases. It's kind of self correcting away that we can't just have that supercycle. I've never seen a an asset that does have only u and no volatility. In fact, it's a capital, a surprising modela, famous, no bell price winning model
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