LOL.
So Bitcoin is in step with the Nasdaq index like a couple synchronized swimmers...
So Bitcoin is in step with the Nasdaq index like a couple synchronized swimmers...
It's an US tech-stock now
To decouple from the stonk market bitcoin needs to be unit of account. To make this happen a lot of work is needed to improve usability of lightning wallets. Looking at the price chart under self hypnosis all the day long is not enough.
To decouple from the stonk market requires teaching masses of clueless n00bs that Bitcoin is not a stock, it is nothing like a stock, and thou shalt not treat Bitcoin as “like a stock”.
It is only one reason to teach that, firmly and without compromise. The primary reason is honesty: The asset is actually nothing like a stock, so the prospectus must inform new investors accordingly. Also, we need to avoid throwing the door open to the SEC and other securities regulators, who have jurisdiction over all stock-like things. And also, we need to decouple from the stock market! This coupling is ridiculous.
Bitcoin is NOT A STOCK, it is NOTHING LIKE A STOCK, and I will rain hellfire on any suggestions that treating it like a stock is somehow acceptable behaviour. I have an absolute, no-compromise, non-negotiable zero-tolerance policy for mistreating Bitcoin as if it’s a quasi-stock.
Usage as money also deters the catastrophically detrimental error of treating Bitcoin as a sort of a quasi-stock. When you buy Bitcoin, your dollar equity is zero. You are exchanging one currency (USD, etc.) for another currency (BTC).
(I doubt that BTC can be a unit of account for more general usage in business, in consumer transactions, etc.; after having wished for that for many years, I doubt it. 1 BTC = 1 BTC is more than a motto: It is critical to understanding the nature of Bitcoin, in itself. Pricing of goods and services is a distinct, albeit overlapping problem. But that is a separate discussion, probably beyond the scope of WO.)
