Oddbean new post about login | logout The stock market… worldwide… but priced in bitcoin and built on the rails of the Bitcoin network. This is inevitable. Seriously. Who is building this? I want to participate in this FOSS effort.
Amen.
I don't always look at stock charts... but when I do... I always use #btc as the currency. You know what? I have yet to find a stock that out performs bitcoin.
Saylor and Microstrategy, they use #Bitcoin
And $NVDA over the past decade. Only a small number will outperform the corn over the next decade as well, I’m guessing.
This is if we are pricing them in fiat right?? How does mstr look priced in sats over the last decade??
MSTR
A small number have over 5 yrs, inc tsla couple mining stocks https://www.pricedinbitcoin21.com/landing
Could be built on ecash.
Dave Collum had some spicy takes on the overvalued nature of stocks on @TFTC which were interesting. The repricing he suggested was incoming sounds catastrophic. If you listened, I'd be interested to hear your thoughts on it. I hadn't heard someone put it quite the way he did suggesting that prices are going to revert to the mean (of 40 years ago).
I didn’t hear his interview, but I’m very familiar with this point of view. I think most of the people who hold this view are at least one or two years early.
Blockstream is doing “tokenized finance” and “digital assets” on Liquid, but it all sounds like a grift. Regulatory arb. Still not sure. They just released their 3rd podcast about it. Ex. https://fountain.fm/episode/CT4HYbUaaFCnL4Idu0gV
Although I share your ideals- how would this work more specifically? Some tokenization that settles periodically in a federated system like Liquid? Stocks are shares of companies that exist in legal frameworks formed and enforced by state powers. Ownership rights of these shares are also enforced by the state. Who enforces the global ownership rights of shareholders even if we use bitcoin for transaction settlement? Who do I sue when a company doesn’t honor my shareholder rights… and under what court? How is bankruptcy handled and by who? There’s a lot to solve for here if you want to make something better than what has evolved to this point. — This is a comment on: https://yakihonne.com/flash-news/nevent1qqs0cmpnlpxc9xjqsse24tztvpvgnusmlxww32ejzfmphvqtt5ug7mqzyzmejmqc8cpkmuncq229hq9mmj9shavhrdnzr2rt7dtfcvepzlc86qcyqqqqqqgygyw2k
Non tradfi people talk about tokenizing stocks on bitcoin layer 2s and I vaguely remember something about inscription tokens like runes or brc20 as well. However, from what JPM and other behemoths have hinted at via pilot programs, stocks will likely be tokenized on eth for US markets— unclear if on private layer 2s or main chain.
I’ve heard the same things, and wouldn’t be surprised if it started out on ethereum or solana. But I also think that it will eventually happen on Bitcoin… and will be laughably clunky and difficult to use initially, but then will become the worldwide standard. Similar to the progression of bitcoin itself, nostr, and other open source projects.
I tend to agree with that. Getting tradfi on 24/7 token markets is going to be really interesting if there are no circuit breakers and there is global access. Will stocks and other investment instruments collapse as easily as yield farming gaming tokens tend to collapse on eth? What happens when people take on GameStop-like behavior to address unethical companies and financial tactics?
I think bitcoin will eventually create a less speculative and less leveraged society. Less, but higher quality businesses. Less trading. More shrewd and real investments, rather than the current fiat-driven market dynamics.
Real investments? Nah Why would anyone “invest” in anything that is trending towards 0.00 sats If your money is gaining purchasing power then there should be no reason to ‘invest’ in well…. Anything lol
wdym "build on"?
I think it’s actually an incredibly complex issue and I am in no way an expert. However, I imagine it will be possible to do as a layer three or layer four solution a decade or two down the road. It’s much too early to implement in the coming few years, in my opinion.
NASDAQ works great. just change the unit of account
Yup. I do this already.
I mean on the NASDAQ order book. practically
Damn dawg thinking big over heah