Why the Stock-to-Flow Bitcoin Valuation Model Is Wrong. Maybe you shouldn’t be banking all your finances on a halving-driven appreciation in bitcoin this year. In this op-ed for CoinDesk, contributor Nico Cordeiro picks apart one of the most commonly cited theories for why many people expect bitcoin’s baked-in quadrennial money supply decelerations to boost its price.
Ethereum vs Bitcoin | Explained (For Beginners)
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So, let’s dismiss claims like those of Ethhub.io co-founder Anthony Sassano. He argued that because bitcoin token transactions on Ethereum deny miners fees they would otherwise receive on the bitcoin chain, bitcoin is becoming a “second-class citizen” to ether. You’d hardly expect people in countries where dollars are preferred to the local currency to think of the former as second class. And just as the U.S. benefits from overseas demand for dollars – via seignorage or interest-free loans – bitcoin holders benefit from its sought-after liquidity and collateral value in the Ethereum ecosystem, where it lets them extract premium interest.
I like POW (proof of work) crypto currencies where the system is ruled on the basis of how much computing power you can apply to maintaining the system. I’ve steered clear of Ethereum because it is heading towards POS (proof of stake,) a system where oligarch-sized owners of the coin get to call the shots and likely do what oligarchs do best, poop on the little people and fight to the death amongst themselves. Crypto is politics in software form, so to me the political framework of cryptocurrencies is all important. The POS future for Ethereum is a killer for me long term, but right now it is not that “in the long term we are all dead” that is the key, it is that visibility of the long term itself is all but dead.
Welcome to this analysis of ETH/BTC. ETH/BTC has been in an uptrend since February after breaking out of a 6 months long double bottom reversal pattern. Since then it went sideways and consolidated for a bit more than 3 months, from the 8th of February till the 3rd of Jun. The consolidation looks like a symmetrical triangle pattern which is a continuation patter...
Why? Is it my inflation terror driving me on? No. Ethereum is onto a new crypto winning phenomena. DeFi (decentralized finance). Well, that’s what it’s called, but most DeFi is dull and almost pointless, the exciting bit is the crypto lending part where you can stash your cryptocash in a blockchain system and get paid interest on it in a “risk free” way.
Bitcoin might be a reserve asset for the crypto community but its recent price trajectory, with gains and losses tracking equities, suggest the non-crypto “normies” don’t (yet) see it that way. Given the COVID-19 crisis’ extreme test of the global financial system and central banks’ massive “quantitative easing” response to it, that price performance poses a challenge to those of us who see bitcoin’s core use case as an internet era hedge against centralized monetary instability. Far from complying with that “digital gold” narrative, bitcoin has performed like any other “risk-off” asset. Meanwhile, actual gold has shaken off its own early-crisis stock market correlation to chart an upward course. While bitcoin has repeatedly failed to sustainably break through $10,000, bullion has rallied sharply to close in on $1,800, levels it hasn’t seen since September 2012. Some analysts are predicting it will breach its all-time intraday high of $1,917, hit in the aftermath of the last global financial crisis in 2011. To add insult to injury, one Forbes contributor even stole from the crypto lexicon to describe the state of play, telling his readers that gold prices are “soaring to the moon.”
Decentralizing Everything with Ethereum's Vitalik Buterin | Disrupt SF 2017