This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. A recent tweet storm from a disgruntled financial pundit set crypto twitter on fire in a storm of memes and sarcastic rebuttals.“This is it. We have reached peak insanity. A Google search of, “Sol Price,” founder of FedMart and Price Club (Costco), mentor to Jim Sinegal, and retailing legend, turns up a page and a half of the price for Solana, evidently some 3rd-rate cryptocurrency. The world has gone mad.” You can view the tweet HERE.This huge fanboy of massive retail stores with low prices was incensed that a simple google search of “Sol Price” ignores legendary entrepreneur Sol Price, the father of modern warehouse stores. To help support his case and add insult to injury, the Tweet thread compared Solana to both Doge and Costco.“I look at crypto prices for about 30 seconds a week. Looks like Solana, at $44B, has surged past the dog’s $20B. Maybe work on the next Costco instead? You could buy it in 2004 for $13B, earn $13B in special dividends, $11B in regulars, and own a $231B debt-free company today.”Is this a fair criticism, or can it be dismissed as nonsense?The comparison of Sol Price (the person) and Sol Price the (asset) is ridiculous. Outside of the 12 people on earth who have made an obsession with the creators of large stores that have cheap prices their personal demigods, few famous people are remembered, and a similarly named asset is not an affront to their legacy. Should we also be concerned that we have forgotten about Tim Berners-Lee, the inventor of HTML? I had to Google it. What about Ray Tomlinson, the creator of email. I also had to Google that one. What about Alan Emtage, the creator of the world’s first search engine? Ironically, I Googled that too. I think you see where I am going with this. Even the inventors of earth shattering technologies are largely forgotten. Ideas live on, evolve, and influence our lives. They are what carry significance across time.What about comparing Solana to Costco, or for that matter comparing any digital asset to any particular company? Is that logical? After all, Apple is bigger than all cryptocurrencies combined by market capitalization.Comparing a company to a base layer infrastructure for a new technological class is illogical. This is a false equivalency, and a trap that we fall into in many arenas, comparing completely unrelated things and pretending they are linked. The tweeter assumes that Solana and Costco are comparable because they are both investible assets. In reality, there are an infinite amount of random combinations of investible companies and assets that have nothing to do with one another.I can't believe you bought your 6 year old Pokemon cards instead of Amazon stock!You bought a family car when you could have had the world's largest collection of vintage rubik's cubes!?Similarly nonsensical.(Side note, you will argue that a family car is not an investible asset, but used cars currently sell for more than they were purchased for, years after being bought and driven)The tweet thread is also dismissive of growth potential. The entire planet is talking about cryptocurrencies because they solve real world problems. And they are in their infancy, barely scratching the surface of what is possible. We should be excited that Solana is smaller than Costco and that crypto is smaller than Apple. Market cap is the only thing that they have in common - the comparisons should stop there. His argument makes no sense, but attempts to force crypto into a framework and context that he understands. He is completely blind to the concept of exponential growth, which is possible with Solana and not with Costco.Weak.The excitement around cryptocurrencies is justified. One could argue that the masses are not excited enough and that we have just begun.One thing I am quite sure of - most base layer cryptocurrencies will exceed the marketcap of the world's biggest retails... and it doesn't matter. They have nothing to do with one another.In This Issue:The Tale of Sol PriceBitcoin Thoughts And AnalysisAltcoin ChartsOn-Chain Signs Of Conviction - IntoTheBlockControl Your EmotionsBill Proposed To Limit CBDCTurks Using Crypto As Inflation HedgePoliticians Beat The MarketThe Wolf Of All Streets Podcast Ft. Justin KanMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #413 - The Tale Of Sol Price
The Wolf Den #413 - The Tale Of Sol Price
The Wolf Den #413 - The Tale Of Sol Price
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. A recent tweet storm from a disgruntled financial pundit set crypto twitter on fire in a storm of memes and sarcastic rebuttals.“This is it. We have reached peak insanity. A Google search of, “Sol Price,” founder of FedMart and Price Club (Costco), mentor to Jim Sinegal, and retailing legend, turns up a page and a half of the price for Solana, evidently some 3rd-rate cryptocurrency. The world has gone mad.” You can view the tweet HERE.This huge fanboy of massive retail stores with low prices was incensed that a simple google search of “Sol Price” ignores legendary entrepreneur Sol Price, the father of modern warehouse stores. To help support his case and add insult to injury, the Tweet thread compared Solana to both Doge and Costco.“I look at crypto prices for about 30 seconds a week. Looks like Solana, at $44B, has surged past the dog’s $20B. Maybe work on the next Costco instead? You could buy it in 2004 for $13B, earn $13B in special dividends, $11B in regulars, and own a $231B debt-free company today.”Is this a fair criticism, or can it be dismissed as nonsense?The comparison of Sol Price (the person) and Sol Price the (asset) is ridiculous. Outside of the 12 people on earth who have made an obsession with the creators of large stores that have cheap prices their personal demigods, few famous people are remembered, and a similarly named asset is not an affront to their legacy. Should we also be concerned that we have forgotten about Tim Berners-Lee, the inventor of HTML? I had to Google it. What about Ray Tomlinson, the creator of email. I also had to Google that one. What about Alan Emtage, the creator of the world’s first search engine? Ironically, I Googled that too. I think you see where I am going with this. Even the inventors of earth shattering technologies are largely forgotten. Ideas live on, evolve, and influence our lives. They are what carry significance across time.What about comparing Solana to Costco, or for that matter comparing any digital asset to any particular company? Is that logical? After all, Apple is bigger than all cryptocurrencies combined by market capitalization.Comparing a company to a base layer infrastructure for a new technological class is illogical. This is a false equivalency, and a trap that we fall into in many arenas, comparing completely unrelated things and pretending they are linked. The tweeter assumes that Solana and Costco are comparable because they are both investible assets. In reality, there are an infinite amount of random combinations of investible companies and assets that have nothing to do with one another.I can't believe you bought your 6 year old Pokemon cards instead of Amazon stock!You bought a family car when you could have had the world's largest collection of vintage rubik's cubes!?Similarly nonsensical.(Side note, you will argue that a family car is not an investible asset, but used cars currently sell for more than they were purchased for, years after being bought and driven)The tweet thread is also dismissive of growth potential. The entire planet is talking about cryptocurrencies because they solve real world problems. And they are in their infancy, barely scratching the surface of what is possible. We should be excited that Solana is smaller than Costco and that crypto is smaller than Apple. Market cap is the only thing that they have in common - the comparisons should stop there. His argument makes no sense, but attempts to force crypto into a framework and context that he understands. He is completely blind to the concept of exponential growth, which is possible with Solana and not with Costco.Weak.The excitement around cryptocurrencies is justified. One could argue that the masses are not excited enough and that we have just begun.One thing I am quite sure of - most base layer cryptocurrencies will exceed the marketcap of the world's biggest retails... and it doesn't matter. They have nothing to do with one another.In This Issue:The Tale of Sol PriceBitcoin Thoughts And AnalysisAltcoin ChartsOn-Chain Signs Of Conviction - IntoTheBlockControl Your EmotionsBill Proposed To Limit CBDCTurks Using Crypto As Inflation HedgePoliticians Beat The MarketThe Wolf Of All Streets Podcast Ft. Justin KanMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO