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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by nickysielicki on Wednesday February 10, 2021 @09:07AM (#26089277)
Big balls, surely, but are we waiting to see that happen, or haven't we seen that happen? The stock market has settled around ATHs, not pushing too far down or up. Meanwhile, 40% of all US currency ever minted has been printed in the last 365 days [1], and Bitcoin is worth nearly $50k.

Maybe it's just me, but it's clear to me that markets crashed, the shockwave just hasn't been felt by everyone yet.

[1]: https://fred.stlouisfed.org/series/M1

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Re:Cambridge Bitcoin Electricity Consumption Index by maclured on Wednesday February 10, 2021 @09:14AM (#26089362)
No, I mean a depression. What we've seen is investors scrambling to find returns in riskier assets due to low interest rates, but the bubble hasn't burst yet.

Once it does, we're likely to see a depression at some point [1].

Since Bitcoin is famously volatile I'd bet that once there's a scare, people who've pumped the price up to the current highs will abandon it in droves. After all, there's a huge difference in risk between buying in <$5k vs ~$30-50k

[1] https://economicprinciples.org/

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Re:Cambridge Bitcoin Electricity Consumption Index by sub7 on Wednesday February 10, 2021 @09:55AM (#26089925)
We know exactly what happens in a rush to liquidity. BTC/other non income producing "assets" are the first to go.
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