The turn of phrase is excellent but unfortunately the central premise upon which it is founded is not.Duke that is brilliant.
Ah elac you are letting the facts get in the way of the message. My point was that the main, if not only, justification Mr Marcus has for calling bitcoin digital gold is that its price is uncorrelated with conventional asset prices. Those few hedge funds who are trying to differentiate themselves by embracing bitcoin use the same argument. There are of course lots of other uncorrelated assets, I am sure you can name some, however digital XYZ commodity is not what Marcus' former bitcoin followers want to here. These people like to Google bitcoin and see images of gold bitcoin coins and gold bullion and not pork bellies portrayed as bitcoins.The turn of phrase is excellent but unfortunately the central premise upon which it is founded is not.
It is simply not true that commodity and equity returns are uncorrelated.
This statement is broadly true in certain geographies, broadly untrue in others and somewhere in between in others! Dems the facts!
It's one thing that comes through from your ramblings, your dukeness. There's no doubt in my mind but that the main issue you have with all of this is the origin of the Bitcoin project. Afterall, Facebook has been public enemy no.1 the last couple of years and whilst I don't recognise it as a true crypto, it is a digital currency they're proposing. That you see all the good and none of the bad in that and you repeatedly dismiss the positive facets of Bitcoin betrays a less than wholesome approach to the subject.These people like to Google bitcoin and see images of gold bitcoin coins and gold bullion and not pork bellies portrayed as bitcoins.