bconnorwhite

Thanks!

"...banks issued their own currencies, which they sometimes refused to redeem for their purported value in gold or silver."

Fortunately the government stepped in with its own currency to refuse to redeem for gold

The economic stimulus has certainly been a success for asset prices, in dollars...

know something we don't = difference in how you price risk of various outcomes. Not necessarily new information

Uber without drivers is a very different business. You get clown numbers if you try to model the profits if Tesla can make 20M cars / year

Tesla's rise this year is obviously extreme, but it also traded sideways from 2013-2018. Over a decade AMZN is up 25x, TSLA 150x

The problem with Tesla is that the opportunity for FSD is insane. Either the market is mispricing the risk or the shorts are, but the asymmetric upside if Tesla succeeds makes it a risky short. Asymmetric downside.

The market is usually right, but the market doesn't have all the information either.

"Why would one person want to reduce the ability to apply economic policy in their country?"

What do you think happens to your currency when they print more of it?

One problem with gold though is that we know where plenty of gold is, its just too expensive to mine. Once the price of gold rises, more gold becomes profitable to mine, supply increases, and the price goes back down.

Price action would seem to agree with your typo

I can't tell if you're agreeing by saying "its only been 12 years," or if you're disappointed by a 10 million % appreciation in 12 years

I think the difference is that currencies fluctuate against each other, whereas if everything is priced in Bitcoin, its whatever you're pairing it against that's fluctuating. Goods (ex: loaf of bread for 200 satoshis for example) would stay stable