How Bitcoin works
1. World money supply started at 50 trillion 15 years ago, now 130
2. Ever since 2010, bitcoin is eating up a new piece of that. The demand for this unusual asset is growing at t cubed
3. The asset is sticky. It is held for several years, on average 4 or more.
4 this growing demand for a sticky, finite supply asset translates into a power law with 5.8 parameter
5. Within a decade bitcoin will be at 10 percent of all money supply and we will still be far from hyperbitcoinization.
This is a long game.
Fiat won’t collapse overnight.
The “big print/big long” thesis is probably incorrect.
Regardless, the correct “allocation” is north of 50 percent
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