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489 sats \ 4 replies \ @0xIlmari 14 Feb \ on: Bitcoin is once again a trillion dollar asset bitcoin
Except that trillion is not worth as much as it was 3 years ago. As Jeff Booth would say, "you're attempting to measure the system from within itself".
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33 sats \ 3 replies \ @kr OP 14 Feb
good point, what is the best external reference point to measure against? gold?
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367 sats \ 2 replies \ @0xIlmari 14 Feb
Gold is a good one. Assets in general, like house prices (MSPNHSUS on TradingView) but also commodities - oil (proxy for energy price), wheat, beef (human sustenance) are some I commonly look at, as well as stock indices - as long as USD component is cancelled out, it makes more sense to me.
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0 sats \ 1 reply \ @kr OP 14 Feb
solar deployments are growing incredibly fast all over the world. if that continues, does that make the price of oil a worse proxy for global energy prices?
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305 sats \ 0 replies \ @0xIlmari 14 Feb
It might reduce corelation but will remain an important industrial indicator because so much of it is still dependent on burning dead dinosaurs (like, all of transportation).
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