Junson Chan – Bitcoin Clown World #47 – Bitcoin Whales Confused While Metcalf’s Law Shows $500k BTC
I confused Moore’s law with Metcalfe’s law, which is basically the same principle. The value of a network or something is the square of the sum of users.
Basically 1 squared is 1 but 2 squared is 4, not 1×2 = 2. Bitcoin is a network and as adoption increases, it’s value increases exponentially, if not geometrically.
Bitcoin interest for the average user is still low, so bitcoin whales are trading against themselves or with each other.
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