Bitcoin Is Older Than the Stock Market

Bitcoin, a network that launched in 2009 is older than the equities stock market that has existed in its current form since President Nixon took the dollar off the gold standard in 1971.

How is that possible?

1971 is clearly much older than 2009.

On a personal note, that is roughly the age difference between my father and my little brothers—and I am not sitting here saying my little brothers are older than my father.

But, from an active trading hours perspective, Bitcoin is older than the fiat-era stock market.

The Bitcoin Network accepts trades, buys, and sells, 24 hours a day, seven days a week, 365 days a year. Every ten minutes a new block verifies a new set of transactions. One could argue, and Jack Mallers did (go to 19:28 into the presentation linked below), that Bitcoin found a way to define time in the digital world.

Its uptime is longstanding and without fail.

Tick-Tock, next block.

In the case of the equity stock market, it only trades on business days from 9:30 a.m. to 4:00 p.m. Eastern time. Holidays and weekends see the market’s doors close.

When you are comparing 6.5 hours a day to 24, it’s obvious how Bitcoin has closed the gap so quickly.

But why is this important?

I think this perspective brings legitimacy to how long Bitcoin has truly been available. When you speak in years, 2009 is much younger than something born in 1971. But speaking in years does this comparison a disservice because the years are not equal. Years of being online 6.5 hours a day, roughly 5 days a week is not the same thing as years of being online 24 hours a day, seven days a week, 365 days a year. This perspective is an instrumental counterpoint, based in fact, for people who argue Bitcoin is “too young” or “still needs to find its footing.” The trading hours are the trading hours, and Bitcoin is growing ever older than the equities market with each passing day.

I also believe this perspective helps bridge the gap from a technological perspective. In the technological world, many innovations occur exponentially, not linearly. Bitcoin and its ability to always be on, without having to take breaks, is just another exponential innovation that came about due to technological advancement.

The fiat equities market has market hours because of the stockbrokers and equity managers who man the desks, computers, and phones as buys occur. If anything, the rationality for why these markets are not open 24 hours, seven days a week, 365 days a year is becoming obsolete as technology and algorithmic trading and forecasting have improved. Bitcoin and its ability to be always open is an exponential improvement from the human constraints that define the equity markets.

The human element of the fiat stock market is deemed all-important and as a necessity.

Bitcoin doesn’t care if you go to sleep, get sick, or go on vacation, it continues to produce block after block, building its time chain through cyberspace.

Bitcoin is a technological innovation that will continue to thrive as the world trends evermore digital. It is specifically built for cyberspace. 15 years in cyberspace is centuries in the real world. The iPhone 3GS was unveiled on June 8th, 2009. Compare that to the phone you have now…

Countless other apps, inventions, and gadgets had their weeks, months, or couple of years of success before fading to irrelevancy. Bitcoin has only seen its legitimacy, reach, and recognizability grow year over year. Bitcoin isn’t just built to withstand any passing fad in the technological world, it’s built to be the leading currency of the digital world and eventually, the world.

Bitcoin is only “new” to you when you use years as your lens for comparison. By switching your lens you can see how “old” Bitcoin really is.

Stack SATs.

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