toxicbitcoiner on Nostr: I know causal coiners, who even self custody, who think $1M/BTC is outlandishly ...
I know causal coiners, who even self custody, who think $1M/BTC is outlandishly bullish. What they and so many others don’t understand are two things:
1. Veblen good effects
2. Total addressable marketcap
For TAM, $1M is a ~$19.7T marketcap, which is only 2.2% of the ~$900T of total global wealth. All they have to do is run the numbers, but they have a cognitive block for some reason. They only think in $ price per coin 🤦♂️.
You ask them “what’s the TAM for SoV? Where does the value come from as Bitcoin appreciates in price?” Blank stares. So early.
Published at
2024-05-15 01:13:15Event JSON
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"content": "I know causal coiners, who even self custody, who think $1M/BTC is outlandishly bullish. What they and so many others don’t understand are two things:\n\n1. Veblen good effects\n2. Total addressable marketcap\n\nFor TAM, $1M is a ~$19.7T marketcap, which is only 2.2% of the ~$900T of total global wealth. All they have to do is run the numbers, but they have a cognitive block for some reason. They only think in $ price per coin 🤦♂️.\n\nYou ask them “what’s the TAM for SoV? Where does the value come from as Bitcoin appreciates in price?” Blank stares. So early. https://image.nostr.build/da63a44224582b30b0db749da30b18c28d1a7fd16fe00bfee305fa55189f5588.jpg https://image.nostr.build/e62b27303dbaddbcf6d9cc5f9dc21091c64767ea059c229b7b747f3e589b6c72.jpg ",
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