43. Bitcoin and market efficiency
The Bitcoin Standard Podcast
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Is Bitcoin the First Constant in Economics?
The ability of the Bitcoin price to continue to match the expectations from the stock to flow model is in my mind, absolutely amazing. And I think it's why it's what drives me to suspect that this is indeed the first constant in economics because we see it now in Bitcoin but maybe we'll start seeing it in other parts of economic calculation. So long as we have that constant, everything can be measured against everything else in a more quote unquote efficient way.
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