Quote from: davis196 on June 17, 2021, 06:09:05 AM

Quote from: PetraGold on June 11, 2021, 09:36:11 AM

I think
The recent Sveriges Riksbank Prize in Economic Sciences or Nobel prize (as commonly known) was actually awarded to an economist (Fama) who claimed that markets are efficient and any prediction of it's movement is fruitless. Isn't the Bitcoin price random too?
Furthermore, we can even fit Robert Schiller's theory into it. There is clearly a long-term trend and crazy volatility. Also, Bitcoin tries modelling the ideal world scenario of no transaction fee as used when designing theory like CAPM.
With such similarities, why isn't research being done in the Bitcoins? There's so little to read. We pretty much end up with Satoshi's paper which is more cryptography and less economics.

Bitcoin is really simple,if we talk about the financial/economy side of BTC,not the cryptographic side.
BTC has limited supply and unstable demand,which makes the price really volatile to every change in the demand.You should read more about price elasticity and will know everything you need to know about the price movements of such financial asset as BTC.
Maybe that's why the economists don't care that much about Bitcoin.There's nothing new to be discovered in BTC,in terms of economic and financial theory.

Even if I understand what you are saying and bitcoin is in fact a very traditional asset when it comes to the economic theories behind it bitcoin is revolutionary in the sense that it is the only coin from which we know its actual maximum supply and the exact rate at which is generated each year, this is novel, in the case of gold this is not true as we do not know how much gold will be mined this year and we do not know its maximum supply in this planet let alone the whole universe.