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Bitcoin’s Full Potential Valuation, by Jesse Myers (2023)

Although it may be old news for Bitcoin OGs, this article by Jesse Myers offers valuable insights into Bitcoin's ($BTC) full potential valuation. It's definitely worth reading, particularly for newcomers to Bitcoin.

The core thesis is basically:

Bitcoin isn’t competing with currencies or payment systems — it’s competing with value itself.
It’s taking aim at gold, real estate, bonds, and fiat reserves — the traditional assets people use to store wealth.
Bitcoin’s true market is the global store-of-value market.

The article is also the original source that Michael Saylor ($MSTR (-3,86 %) ) used for his calculations and projections.

Article: https://www.onceinaspecies.com/p/bitcoins-full-potential-valuation

03.06

Bitcoin

Acheté x0,005783 à 105 000,00 $US

607,22 $US

www.onceinaspecies.comBitcoin's Full Potential Valuation

10 Commentaires

Harald@Madhatter5566

"My turds are limited. Only a few are generated each month and when I die there wont be anymore turds created.
The Value is soooo high because of scarcity. Get your turd today" -Every Trustmebro in existence

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21SatsCapital@SatsStacker

@Madhatter5566 In the end, it comes down to this question in my opinion: Is Bitcoin a new asset class? If not, it will either go to zero or stop growing. If it is, it will probably capture market cap from other asset classes.

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Harald@Madhatter5566

@SatsStacker Its an speculative Asset without any real claim. You "own" a number, you can exchange this number with other people, but you cant do anything with it. You own nothing.

So yes, it may be that people exchange real values to get a number assigned, in the end it will be like nfts.

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21SatsCapital@SatsStacker

@Madhatter5566 Personally, I don't consider Bitcoin as a speculative asset. It's the first time humankind has discovered or invented absolute digital scarcity through Bitcoin and its network.

From my perspective, Bitcoin is a store of value and a new asset class currently undergoing monetization and price discovery—a phenomenon we rarely witness in our lifetime. The same process occurred with gold, but it took centuries to establish gold as a store of value or hard money.

Ultimately, the free market for stores of value will decide whether Bitcoin adoption happens or not.

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Harald@Madhatter5566

@SatsStacker there is no digital scarcity. You seem to consider that you have a claim on a String of numbers in the Case of Bitcoin. I think this is bogus like nfts. Sorry.

And there isnt even real scarcity. As your Token is dividable without loss, if you consider "transfering" the number as a function, of function. Its not like that you need XYZ amounts of Bitcoin to do anything. You could transfer any amount of Money with 1 Satoshi.

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21SatsCapital@SatsStacker

@Madhatter5566
A monetary system or protocol like Bitcoin, with its first-mover advantage and unique properties, is unlikely to be replicated. It embodies digital scarcity through its fixed 21-million-coin supply, secured by a decentralized network with unparalleled mining power.

Divisibility does not negate scarcity. Dividing Bitcoin into smaller units (like satoshis) does not increase the total supply. The supply remains hard-capped.

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Harald@Madhatter5566

@SatsStacker doesnt matter that it is smaller, as it remains functional. It would be like having Gold, but any amount of gold is enough for everything.

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21SatsCapital@SatsStacker

@Madhatter5566
To be clear, 1 Bitcoin can only be divided into 100,000,000 fractions called satoshis on the main chain. That's it.

When you have a pizza and slice it into 16 pieces instead of 8, do you have more pizza?

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Harald@Madhatter5566

@SatsStacker No. Exactly. But you cant satisfy your Hunger with 1/16 Pizza. So 1/8 is more valuable as 1/16.

If you could divide a Pizza 100 Million times and that smallest piece does also feed you, the scarcity of Pizza would be irrelevant.

1 Satoshi can do the same thing as a Bitcoin. Its doesnt loose function. As such your Bitcoin or the functionality doesnt depend on how many Bitcoins there are.

The scarcity of Bitcoin doesnt matter.

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Marcel@di_marcello

@Madhatter5566 trust you bro?

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