Jumps in bitcoin correspond to central bank and regulatory action.
When the monetary authorities impose a restriction, bitcoin responds fastest. This forces bitcoin onto the asset list. The bounds on central bank innovations is a conserved quantity; so the better bitcoin measures CB innovations, the less some other class will measure it.
Independently, high speed trading was forcing the derivatives industry to auto-trade. This is the 60 Trillion derivatives industry which really has one purpose, measure the distribution of 'fails to deliver' in units of time. Most of this driven by government insurance guarantees.
Travel industry is very much interested in hedging CB innovations, especially airlines. Airlines operate on the global cost of fuel, and if the supply chain operates about that estimate, the system is efficient. Bitcoin removes the CB volatility in global fuel flow. The energy industry should be interested.
The idea that we will keep the old money technology is absurd.
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