Dunno about the latest jump. Bitcoin should be an accurate predictor of secret outflows, still. Digital networks are not defeated. China credit expansion isn't working as planned, dunno. I am sure to find out soon if China dunnit.
Net value, rule of thumb
Assume bitcoin will only measure central bank out of equilibrium moves. It has no other market, bitcoin is just a fast FX market, unregulated. Right now, what central banks are doing, requires a flow of 400 billion a year. Bitcoin, as a market maker, measures the flow to 3%. Bitcoin likely gets half the market. I get about $200 billion in net present value. But that is a profitless rule of thumb. Add profits and its NPV should go down, profits seen as a liability on value..
No comments:
Post a Comment