Oddbean new post about login | logout https://fountain.fm/episode/jePspvxO2Xdq2yVl2cSp Finally finally finally someone publicly says that “diminishing returns” is the sacred cow to be slaughtered / path of maximum pain this next cycle. The consensus that DR from now on is a guarantee is far too loud. Thanks @HODL
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
