That crypto correction was wayyyyyy too little and short. We're overdue for a major one.
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Replying to @iam_preethi
BTC down 70%, most things down 80-85%....seems like a pretty standard correction to me.
12 replies 3 retweets 202 likes -
Replying to @AriDavidPaul @iam_preethi
Most of these things would still be overvalued if they fell 98%
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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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Replying to @MustStopMurad @cryptorae and
Also, the market for non-SOV cryptocurrencies, which have, for example, a payment function, might be more fragmented (see also
@jlppfeffer's paper).1 reply 0 retweets 1 like
non-SoV = by definition small
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