S2F, Gold & the Big Reset with Plan₿ & Willem Middelkoop

 
 
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“Because it is the best money and it’s so superior to fiat money, it’s so fucking dangerous to central bankers, and the elite and everyone in the system because this house of cards is on the verge of collapse. And then you have Bitcoin, which could eat it all.”
— Willem Middelkoop

SHOW DESCRIPTION

Location: Remotely
Date: Friday 6th August
Company: Independent & Commodity Discovery Fund
Role: Bitcoin Quant Analyst & Chairman

In early 2019, PlanB released his now widely regarded Stock-to-Flow model (S2F). This model was built around the four-year halving cycle and is a way to track the scarcity of an asset. 

At current levels of issuance, Bitcoin has a stock-to-flow of 50, meaning it would take 50 years for miners to mine enough Bitcoin to match the current Bitcoin supply. When applied to non-digital assets such as gold and silver, stock-to-flow becomes a benchmarking tool. Gold, for example, has a stock to flow number of ~58, slightly higher than Bitcoin.

While the Stock-to-Flow model is an incredibly popular tool amongst bitcoiners, it is not without its critics, and with Bitcoin’s drop from ~$64k to ~$29k, the model is coming under increasing scrutiny.

So, is the model broken, or is Bitcoin still heading for $100k+ this year?

In this interview, I talk to Bitcoin Quant Analyst & creator of the popular Stock-to-Flow model, Plan₿ and investor, entrepreneur & publicist Willem Middelkoop. We discuss S2F, gold vs Bitcoin and whether we are heading to a big reset.

TIMESTAMPS

00:03:30: Introductions
00:04:48: Willem's background
00:08:39: Why Willem became a gold bug
00:10:59: Suppressing the price of gold
00:16:47: A diversified portfolio
00:19:05: The jump from gold to Bitcoin
00:25:35: Willem's Bitcoin thesis
00:32:21: The stock-to-flow model
00:39:11: The overnight repo rate explained
00:44:21: The imminent big reset
00:53:03: Failure must be allowed to exist
00:55:45: Replacing the dollar
01:00:33: It's not a crash, it's a reset
01:02:55: How to prepare
01:09:01: Technocracy
01:11:07: The Infrastructure Bill
01:16:40: Final comments

 

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SHOW NOTES

PodcastPeter McCormack