To think that a hard monetary asset, with a perfectly inelastic supply, could go from a $0 market with no infrastructure, liquidity, or demand, to a global monetary instrument with vast infrastructure, the highest market liquidity, demanded by billions, but that this could somehow occur *without* volatility in the price, is an absurd & deeply ignorant claim. Thoroughly debunked by Parker Lewis in the continuation of his amazing "gradually, then suddenly" series at Unchained Capital.
Bitcoin is Not Too Volatile:
https://www.unchained-capital.com/blog/bitcoin-is-not-too-volatile/
You can support this show, ensuring all the best work in Bitcoin gets the audio version it deserves, AND get access to the Cryptoconomy Crew Telegram by becoming a patron below!
https://www.patreon.com/thecryptoconomy
"With his choice of words, Taaki had outed an elephant in the room. It was true, Nakamoto had enacted soft forks, but by late...
"Human civilization is at an inflection point. Inflationary monetary policy against the backdrop of technological deflation means either that ever more power will become...
"Simple “bubbles” don’t survive through several 70%+ drawdowns over a period lasting thirteen years and counting; it looks more like Metcalfe’s law of network...