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Note added:

What is really important for bitcoin price to rise is M2 liquidity (blue color), we have had bull runs like 2017 where dollar liquidity (orange color) did not increase.

That said, I also expect that starting in September the liquidity of the dollar system will start to grow.

Why this happens (That has more importance the global m2 liquidity than the liquidity of the dollar system for the price of bitcon, being the dollar the world reserve currency) is something I do not know, the formula I use to measure the liquidity of the dollar is:

WALCL - (WDTGAL +RRPONTSYD)

Where:

WALCL = Total assets held by the Federal Reserve.

WDTGAL = general account of the U.S. Treasury

RPONTSYD: Overnight reverse repurchase agreements, which are Treasury securities sold by the Fed in temporary open market operations.

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Discussion

frphank 1y ago

Without fiat Bitcoin would have no purpose whatsoever, or so it seems.

Nice and Kind Vic 1y ago

what is money

JackTheMimic 1y ago

Not sure if this is a troll or a misunderstanding of what purpose means. The purpose of a thing is what it does. Bitcoin is a finite amount of information shared over a network. What it does, is allow people to transfer energy and value into the future.

Fiat is a non sequitur to bitcoin. What fiat does is allow people with counterfeiting permissions to steal from those who don't have that permission.

What fiat does and what Bitcoin does have no overlap and thus cannot share a purpose.

Being able to exchance fiat for bitcoin is the equivalent of defrauding people out of the best way to store value for the promise of immediate liquid fraud that they can defraud others with.

TL;DR Bitcoin's reason for existence is not its purpose. One should not conflate the two.

frphank 1y ago

If there is no overlap then why does nostr:nprofile1qqs0eac2gh86s9l24qfmnw52xawhz0f3d862yleaetpafygjmanaxlspp4mhxue69uhkummn9ekx7mqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqpr4mhxue69uhkummnw3ezumt4w35ku7thv9kxcet59e3k7mf0c5x5xu drone on about fiat.

halalmoney 1y ago

Fiat currency and Bitcoin are two competing monetary systems.

The former is dominant in terms of usage, familiarity and volume. For most people, there’s little choice but to use it. Arguably, it is rooted in injustice.

The latter is nascent with a small but committed group of adherents. Participation is currently voluntary which makes its current value all the more remarkable. Arguably, it is more ethical than fiat.

Developments in fiat will inevitably have an impact on Bitcoin so it makes sense to analyse fiat data and extrapolate an impact on the other system.

An overlap, an ebb and flow between the two and cross-references are inevitable until one is completely vanquished.

JackTheMimic 1y ago

He's looks to be an advocate for using the liquid fraud to take value from those who would exchange for it. There is no purpose overlap. Only a market one. You can commit crimes and receive Bitcoin because the crimes have a subjective value and ALL value can be transmuted.