The Ethereum market cap fallacy.

Quoth the esteemed public forum :

asciilifeform: My thought was that if you want that Toyota to run in 2040 you will probably have to buy the factory that made the, e.g., oxygen sensors, ignition comp, whatever digital crud (and its analogue tendrils) that the thing demands in order to run. Unless you want to fit a 1980s motor in there (Cuba-style). ‘Parts plentiful’ while junkyard still has’em, and then suddenly goes to 0.
pete_d: That’s easily 3-4 decades though.

trinque: But it’s a fair point; you’ll otherwise have to buy the coke machine on wheels.i
asciilifeform: 3-4 decades of ‘at any price’ availability, likely. Probably no more than 1-2 at economical-price.ii

pete_d: But you did shift the goalposts a fair but there : ‘inspected & licensed’ quickly became ‘only Toyota’. Problem ?
asciilifeform: ( One that doesn’t drive you to consider a new auto )

pete_d: OMG be less poor then. IT SOLVES EVERYTHING.iii
asciilifeform: I can’t comment on the autos of ‘less poor’ folx, never bought McLaureniv parts. But I have scrapped autos when parts replacement became -EV. Ordinary, workaday plebe autos.

trinque: Look in 2040, if Bitcoin doesn’t sling enough dick that there are sane partsv to be had, better seppuku. Sane whole machines even
pete_d: Bingo.

asciilifeform: Mechanical expiration date of bitcoin-as-we-have-it is well earlier.
trinque: Really meant $Republic

pete_d: Could be $Ethereum! which has HALF the market cap of bitcoin donchaknowvii
mircea_popescu: And the fucktards actually say that with a straight face.

trinque: Oh christ, no, I didn’t mean that. Lol.
pete_d: Haha. WTF kind a braindeads are pumping ETH to these levels anyways.viii Do govs really have that much fiat left to wash trade with ?

mircea_popescu: It’s very easy to get a bunch of “consensus”-oriented,ix state-compliant dork with no money to agree to anything, no matter how nonsensical it is. It’s not expensive, either, that’s why said dorks are the wet dream of any socialism. And that’s why stabbing them in the neck “for no reason” and “that was totally uncalled for” while they’re riding the state car is the ~best way to serve the Republic.
trinque: Fiat-demonimated “market cap” can be whatever fiat says, eh?

asciilifeform: It’s called printolade for a reason…
mod6: Yah, USGprintolade => ETH

The moral of the story being that you need be very, very careful what you believe in. Who too. Me three ?

___ ___ ___

  1. Coke machine” being here used as a term of art.
  2. “Economical price” is, of course, utterly meaningless and entirely unfalsifiable. Economical for the homeless man is not the same thing as economical for myself or a banker on Wall Street. And no, before you even go there, there’s no “economical price” for “normal people” either. What the hell is a normal person anyways and why do you persist in the delusion that they have anything to say on matters of any import whatsoever ? Have you ever met what passes for normal ? If they didn’t talk about craft beer, sports, or how much they dislike their jobs, they weren’t normal!  
  3. Alf looooves to ham up his poverty. He’s like the fast food junkie who keeps going back to McD’s on his way home from work even though he knows it’s terrible for him and he should really buy groceries instead but never does. So I like to rib him about it!  
  4. FTR it’s McLaren without the “u” but it sure does sound more feminine the way Alf spells it. And that’s a good thing ?
  5. For computers, cars, or other basic instruments of necessity for civilisation.
  6. Id est the currency of the Gods as far as non-WoTers are concerned.
  7. $39.1 bn to $20.4 bn claimed! But hey, if Whatsnapp is worth $20 bn (tn?), why not the broken smart contract thingee with the alien savant ?  
  8. Anyone who failed to take MP up on his offer ever do the math on their opportunity cost ? It ain’t pretty. Not that I’m kicking myself even. I swore off alts after Litecoin. Fool me once…
  9. *-oriented being the one lasting legacy of the great gay rights movement.

4 thoughts on “The Ethereum market cap fallacy.

  1. […] another planet of vehicular performance, and a means of bullying a road like Bitcoin does “cryptocurrencies.” So it was that I’ve ended up with another Nissan,x a turbocharged one, and one with […]

  2. […] within teh blockchainblockchainblockchain space have conspired to erode Bitcoin’s “market cap” compared to “other” “cryptocurrencies” and the time seems ripe to […]

  3. […] of altcoins, especially those not having forked from TRB-BTC and double-especially those WITH NO ISSUANCE CAP!!!11 Conversations about value that aren’t bookended by clear delineations of scarcity are […]

  4. […] say nothing of the argumentum ad populum fallacy, Ethereum market cap fallacy, and so many other logical fallacies.  […]

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