
SLP390 Dan McArdle - Which Bitcoin Narratives Are Dead?
Stephan Livera Podcast
00:00
Is There a Line of Attack for Bitcoin?
I think the counter argument there is just like, kindf acknowledging the nature of markets, right? Like, these cycles are massively redistributive in their effects. So you really have to look at its structure in comparison to the alternatives. And we do see the jenny coefficients going down overtime. Itits very noisy data, but i think you can draw at that trend. I would argue ces likely the kind of e steady state going forward for many banks for the next ten, 20 years. That's where picoin does not have that dynamic at all.
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