Nostr Web Client

Yeah but *cycles*. It's nonsense.

(Talking about price of course, not halvings. I guess i opened Pandora's box, efficient markets..) but even other-coiners use this language..

Matt Corallo 1y ago

The term developed, I think, because the rest of non-Bitcoin crypto also goes in cycles. Many of those folks aren’t really all that aware of the Bitcoin halving, even though the usual pattern is a Bitcoin price spike post-halving, then some of that money rotates into ETH/etc as the Bitcoin run-up loses steam, then as the ETH/etc run-up loses steam the shitcoin/memecoin/garbage pump starts.

Lots of the ETH/memcoin bros don’t really think about Bitcoin’s halving so they just see a cycle, even though it’s driven by Bitcoin.

Reply to this note

Please Login to reply.

Discussion

niftynei() 🇺🇸💸🧡 1y ago

sort of insane to think the bitcoin supply might just come to define consumer economic cycles

Matt Corallo 1y ago

Bitcoin preventing the post-high-interest-rates 2025 recession that everyone is predicting would be kinda wild.

waxwing 1y ago

Wait, how would it prevent a recession? I guess it could impose discipline on monetary policy, but wouldn't that result in higher interest rates (tending in direction of 'austerity'), so more recession?

Matt Corallo 1y ago

Sudden distribution of cash to a bunch of people could cause a nontrivial bump in spending, offsetting the crash in spending being predicted due to layoffs and other economic headwinds. It was mostly a joke, though, I don’t think there’s that many people with that much bitcoin trying to sell that much bitcoin with that much demand for bitcoin…