Oddbean new post about login | logout I can understand why you might think that, Infact it was my position a few years back. Now I have come to understand that its mostly a volatility damper. Something that is necessary for a assest be closer to medium of exchange.
Hmmm thank you for following up, i really do appreciate this response. Although i’m not necessarily talking about bitcoin, which we hope to become a widely used medium of exchange, but active trading in general like stocks and such too. Doubt that makes any of what you just said, aside from the MOE part, any less true though 😅