21 sats \ 1 reply \ @siggy47 24 Jul 2023 \ on: Riffing on the Stock-to-Flow Model bitcoin
Great article. I am generally suspicious of price models, but I also liked the s2f. Before we dismiss it, is it worth considering how any model can be affected by manipulation? I remember when Jimmy Wu "threw in the towel", albeit temporarily, out of frustration about what he perceived as paper bitcoin manipulation in the futures market. Bitcoin TINA expressed similar concerns, and sold a portion of his holdings.
Is it time we ignore the price and just focus on adoption?
Adoption will be one of the drivers of price -- perhaps the main one. It would be a more fruitful place to direct attention, but probably not a very psychologically satisfying one.
Though maybe these days it would count as therapy.
reply