/biz/ - Business & Finance

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Each of the four identified BTC clusters has a very different S2F-market value combination that seems to be consistent with halvings and changing BTC narratives.

BTC “Proof of concept” (S2F 1.3 and market value $1M)
BTC “Payments” (S2F 3.3 and market value $58M)
BTC “E-Gold” (S2F 10.2 and market value $5.6B)
BTC “Financial asset” (S2F 25.1 and market value $114B)

Like water and US Dollar these four BTC clusters represent four different assets, each with different narrative and characteristics. BTC "Proof of concept" with S2F 1.3 and only $1M market value is a totally different asset than BTC "Financial asset" with S2F 25 and $114B market value.

With the phase transition perspective of BTC clusters as different assets, I can now add other assets like silver and gold to the model. This makes it a real cross asset model. For silver and gold I use stock and flow numbers from recent analysis by Jan Nieuwenhuijs [8] and ultimo December 2019 prices from TradingView.

5. Silver S2F 33.3 and market value $561B

6. Gold S2F 58.3 and market value $10,088B