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How Can BTC Decouple from NASDAQ and the Stock Market?
262 sats \ 6 comments \ @spiderman 21 Aug bitcoin
So, we have been hearing the narrative that Bitcoin should be a risk-off asset, and fundamentally speaking, should decouple from NASDAQ, not positively correlated. I agree with the idea, and understand what the proponents (and Bitcoiners, me included) mean.
Yet, that is obviously not supported by what is happening, i.e. the data. So I am just curious, what exactly needs to play out for that to happen, and the sentiment to shift (from positive nasdaq correlation, risk-on asset to Bitcoin as a hedge, risk-off asset)?
I know nobody can predict the future or be super specific about numbers and timelines, and that is not what I am looking for either. But I am looking for some possibilities or events that might happen that (slowly, then suddenly) catalyse this shift in mindset to look at Bitcoin as the money rather than NASDAQ on steroid that trading desks ride the wave on and short at the first sign of trouble.
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5 sats \ 5 replies \ @fiatbad 21 Aug
This is the result of pushing the NGU narrative, and downplaying the importance of utility and MoE narratives.
I think Bitcoin decouples from speculative markets when it starts being used for commerce, and not only for "investing" or "savings" use-cases.
This would happen sooner if Bitcoiners who own companies either stop accepting fiat or at least charge a "fiat premium". Start pricing products in Sats, natively, where the fiat value is the variable instead of the Sats.
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12 sats \ 2 replies \ @standard_sats 21 Aug
Simply put, "Bitcoiners should lead by example". It doesn't have to just be Bitcoiners who own companies. Even Bitcoiners who are employed by a firm or are self-employed should start asking for paychecks in Bitcoin.
Imagine if every Bitcoiner were like Russel Okung from the NFL.
I love the idea of "charging a fiat premium".
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0 sats \ 0 replies \ @fiatbad 22 Aug
Exactly.
What's bothering me so much is that Bitcoiners don't seem to be trying very hard to take down the fiat system. They are fine just using Bitcoin as savings tech, and have no desire to use it as a medium-of-exchange. This is NOT what Satoshi envisioned, and it's not what I'm here for.
We have to actively make a stand against fiat.... not bend over for it and continue to let it rape our civilization and our future generations.
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0 sats \ 0 replies \ @spiderman OP 22 Aug
I suspect small time Bitcoiners (like me) cannot do it, until we see wider adoption of Bitcoin though. But of course, the bigger the collective warchest of Bitcoiners, the stronger our voice. Some desirable possibilities
  • Landlords with a lot of rental properties start demanding rent in Bitcoin (but bitcoiners say they are selling their houses to buy Bitcoin instead)
  • People listing their properties on AirBTC instead of AirBNB
  • Uber drivers start demanding Bitcoin instead of Fiat, or some competitor springs up that facilitates lightning driven ride sharing
  • Craiglist sellers start asking Bitcoin
Funnily enough, many more companies springing up to buy Bitcoin as treasury asset than accepting Bitcoin as a revenue
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0 sats \ 1 reply \ @c0f73c5bcb 21 Aug freebie
Easier said than done. How can you price in sats when your costs are in fiat?
I believe this shift needs to come upper in the chain first, maybe BTC valued salaries could be a good start.