Oddbean new post about login | logout Are you talking about the idea that the price appreciation will decrease with every cycle? What's the logic behind it though?
Yes. I’ve posted about this a lot. I’d say liquidity begets liquidity and eventually Bitcoin should destabilize then eat the bond market, which will make it act like a Veblen good. https://image.nostr.build/d60058dd86e8546f5d0b201c10163faab7ade75ec98c12323f55d58c2ddc0284.jpg
