That crypto correction was wayyyyyy too little and short. We're overdue for a major one.
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To play devil's advocate, Murad, if you truly believe that a SoV's TAM is $10T, then most coins are trading at a 99.998% discount to that TAM. I'm not saying that I endorse unscrupulous speculation, but in a market with no believable valuation frameworks, we have to live w/ it.
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95% of these coins explicitly aren’t even trying to be a SoV though... And in the remaining 5%, some pale in comparison to others in their security snd robustness for smart money to take them seriously as a potential SoV, imho...
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Also, the market for non-SOV cryptocurrencies, which have, for example, a payment function, might be more fragmented (see also
@jlppfeffer's paper). -
non-SoV = by definition small
End of conversation
New conversation -
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In case you're interested, we published a paper that develops a fundamental valuation of bitcoin based on Metcalfe's law. We also predicted a larger correction:https://hackernoon.com/are-bitcoin-bubbles-predictable-6aa5b830f41a …
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