Avatar
Lau 1y ago

The best #bitcoin denominator is not the US dollar.

Reply to this note

Please Login to reply.

Discussion

Avatar
Jeroen ✅ 1y ago

Makes sense as oil is the backbone of energy

Avatar
Lau 1y ago

Chatgpt fucked up the years in the graph, but the timeline is 2013-2024

Avatar
GHOST 1y ago

Now do it using Eggs

Avatar
Lau 1y ago

Chatgpt is now just fantasizing, but here you go.

Avatar
Reed 1y ago

I was looking at bitcoin vs gold and noticed that we havent even really come that close to a new ATH in gold terms... new ATH in gold terms should happen around 100k

Avatar
Lau 1y ago

Ratio is variant in this inflationary system, I think commodities help to understand real terms better.

Avatar
Reed 1y ago

I'm not sure what that means 🤣

Gold is better money than fiat, so I find it useful to compare where Bitcoin is at compared to Gold. Thanks for the zap!

Avatar
Lau 1y ago

Crude oil, Bitcoin and gold are commodities. They relate better to eachother than an inflationary currency like the dollar.

Avatar
Davidwirth 1y ago

You mean Crude oil is?

Avatar
Lau 1y ago

It is better because it adjusts for inflation. But crude oil demand is not absolute in character because it will adjust to market sentiment, so there's variance there that doesn't scale very well.