Oddbean new post about login | logout I've never liked these Bitcoin marketcap charts when being compared to companies like Meta, Google, Amazon, etc. They have shares of stock that are accessible and tradable. Bitcoin has millions of coins that are lost and inaccessible. If an asset is unusable, I don't think it should be counted. Since we have no way of knowing how much bitcoin is lost and inaccessible, then the marketcap of coins is highly inaccurate. *shrug* Just a random thought. Back to your regularly scheduled ATH excitement. nostr:note1jd3jr75vy4nxkp9zdalr28zsz58ltxrrhvwpn35nftqmnr69a5lsk8kta8
The lost and unusable coins are still part of the whole pie though
But if no one can use them then they have no value, right? I don't count the hundreds of coins I mined in 2009. Those fuckers are long gone 😂😂😭😭 If we're counting them, then I am rich beyond my wildest dreams 🥹
Marketcap as a whole is a pretty misleading metric. If everything sold suddenly, whether it is BTC or any stock, it wouldn't be for this total amount, each unit being sold lowper than the previous one. An aggregate of the transactions prices for each unit would make a lot more sense. I know it exists for BTC, I don't remember how it's called. But I doubt there's such a thing for stocks though...
Fair point.
Looks like 100K we flip Amazon and Google
This is a good essay on a similar subject. I don't think market cap is a useful metric at all https://gist.github.com/midnightmagic/c0507e283527d10de2d1ba9d4cb3e67b
Yeah, I agree. Maybe it should be called ‘Minimum Market Cap’ - MinMC.