Plan B, the crypto trader who made stock-to-flow charts for <a href="https://www.cryptoknowmics.com/crypto/a-comprehensive-guide-for-bitcoin-and-blockchain/">Bitcoin</a> famous in the decentralized space has responded to the criticism from Bloomberg Market's editor Joe Weisenthal on the reliability of Stock-To-Flow ratio for determining Bitcoin's price. Plan B in his tweet called out Bloomberg's editor for his limited knowledge on the chart and also pointed out to the blunder of 2018 where he has predicted the value of Bitcoin to reach zero. He wrote,
<div class="css-1dbjc4n r-xoduu5 r-1mlwlqe r-1d2f490 r-1udh08x r-u8s1d r-h9hxbl r-417010">
<blockquote>
<div class="css-1dbjc4n r-1niwhzg r-vvn4in r-u6sd8q r-x3cy2q r-1p0dtai r-xoduu5 r-1pi2tsx r-1d2f490 r-u8s1d r-zchlnj r-ipm5af r-13qz1uu r-1wyyakw">"Last year (2018) you compared bitcoin to tulips and predicted BTC would go to zero in 2019 or 2020. Have You No Shame?"</div></blockquote>
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He tweeted,
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Bloomberg and <a href="https://twitter.com/TheStalwart?ref_src=twsrc%5Etfw">@TheStalwart</a> ???
Last year (2018) you compared bitcoin to tulips and predicted btc would go to zero in 2019 or 2020.
Have You No Shame? <a href="https://t.co/KSNAzVTJbW">pic.twitter.com/KSNAzVTJbW</a></p>
— PlanB [Jan/3➞? ] (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1209455953587974144?ref_src=twsrc%5Etfw">December 24, 2019</a></blockquote>
Weisenthal was the talk of the crypto town after he bashed the Stock-to-flow chart which predicts Bitcoin price to jump over $100,000 after block reward halving. Weisenthal said scarcity can't be the right parameter to determine Bitcoin's price in future and even took a dig at Bitcoin saying the price is purely speculative where people bid on the current price of Bitcoin to take it higher. He tweeted a long thread explaining his viewpoints,
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">To get to $268 billion worth of BTC, there's no need for more coins at all. All people need to do is bid up the price of Bitcoin until it doubles. Then voila. Society's desire to hold $268 billion of BTC would be satisfied. The math is simple. Society holds what it wants. /9</p>
— Joe Weisenthal (@TheStalwart) <a href="https://twitter.com/TheStalwart/status/1209173039964930049?ref_src=twsrc%5Etfw">December 23, 2019</a></blockquote>
Stock-to-flow ratio determines the scarcity of an asset and its value suggest the amount of time that will be needed to mine the asset currently in circulation. Gold is currently at the top in terms of stock-to-flow value as it is considered as highly valuable and scarce metal, however, Bitcoin in just under a decade has reached the second spot and is supposed to even surpass gold after the scheduled halving in the first quarter of 2020.

Plan B became famous during the Litecoin Block Reward halving where LTC's price failed to pick up after the halving period which prompted many to question whether Bitcoin would meet the same feat. However, the trader used the stock-to-flow chart to make people understand why Litecoin price failed to pick up, and why Bitcoin would not meet the same feat.

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Plan B Responds to Bloomberg Editor's Outburst On Stock-To-Flow

Plan B who made the stock-to-flow chart famous in the decentralized space has responded to the criticism from Bloomberg Market Editor

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Plan B Responds to Bloomberg Editor's Outburst On Stock-To-Flow

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