Interesting thoughts but I think "the sum of transaction fees people will spend in the future" is better as a value for mining (after rewards go to 0). "Holders" really aren't wanting anything to do with transactions.
My Bitcoin valuation:
Bitcoin is worth as much as it costs to move to another blockchain.
That's the "first-mover advantage" basically and I'm afraid it's much closer to $200 million than $200 billion.
My Bitcoin valuation:
Bitcoin is worth as much as it costs to move to another blockchain.
That's the "first-mover advantage" basically and I'm afraid it's much closer to $200 million than $200 billion.