Crypto Bomb:

Ok, I'm leaking some GMI early... (not published yet - tomorrow a.m.)

I will eventually publish in Real Vision too (this article only). I push back strongly the Pfeffer view and the "shitcoin" view.

It's all Metcalfe's Law, baby... and ETH = BTC, like it or not.

You are your behavior....

Network value...(Metcalfe's Law)

Same is true in market cap...

Looks same asw BTC but early (BTC pre-dates ETH by 5 years)

Ooops... ETH looks just like BTC - Metcalfe's Law seems to be the key to price for both ETH And BTC...

But ETH market cap is growing faster than BTC at the same point ( from first 1m active addresses)

"Oh shit, really? Is ETH identical in price structure to BTC when it had same number of active addresses?? But, but ,I thought it was a worthless shitcoin???"

"No, it can't be... the prices and price structure are identical in log terms too??? WTF? But BTC is the one truth...this cant be!"

"Oh shit, it is true...to the very dollar, its the sane in price...fuck.. it's alll just Metcalfe's Law with a different narrative for each ecosystem!"

Yeah, ETH might well go to $20,000 this cycle... (exact same as BTC last cycle, by market cap ETH will be bigger)

BTC = ETH. Fact. Different assets, different ecosystems, same adoption, same behavioral economics = same same but different...

Enjoy the mind fuck.

All your assumptions are just behavior.

Doesn't make them wrong... but different narratives are equally powerful.

#humans. #irresponsiblylong #Bitcoin #ETH

Thanks @adam3us for pushing me to read the original article. It made me think...a lot. Great article. The full GMI article is 8000 words on this entire topic but tweets are a mere flavor of my findings/thoughts.