Legacy Media Killer price

Well I've got no idea how that AI-generated list is built or how accurate it is, but I'll take it.

So trying to make sense of this post. I spent the entire evening trying to decode it. The title is "ownership of Bitcoin follows a power law". The only "power law" that exists in the data described in the post is the wealth distribution. Read carefully the post. Nothing to do with price itself. I plotted this "ownership" and it is a rough power law of amount own vs number of users with given amount. This is the straight line he mentions. How we go from this to price? It is not even a nice straight line, in particular for made up numbers. Even this makes no sense though: 1) The numbers are completely made up. Real wealth distribution data is based on addresses. Since end of 2009 we had tens of thousands nonzero addresses. He claims 1, 10, 100, 1000 users after well in 2010. We had only 10 users after 1 year? It is almost impossible to make sense of what is described. 2) He goes from ownership to total users in the system. To calculate total users in the system we would need to know users at all levels of ownership and sum them together. Does he mean 100,000 in July 2011 have at least 3 Bitcoin? It is not clear at all. 3) He has users going up at given amount of time by a factor of 10. These amounts of times are initially close to a 140 days. That is basically S2F model where you go up by equal amount in equal time. The projection is even worse because first users go up by 6 and then by 9.3. As I said before power laws have diminishing returns. 4) He claims price "matches the distribution". How? Prices cannot match a "ownership distribution" given it is not a function of time. His sequence of users goes up by a factor of 10 initially at regular intervals, and later even accelerates 6x in a year, then 10x in a year. Not a power law. Not sure what is even talking about. So to summarize the OP simply describes a bunch of made up numbers that are supposed to represent wealth distribution and claims there is a power law in the distribution of this wealth. The users and price model he claims cannot be a power laws given they don't have diminishing returns. Notice: this person contacted me 1 year ago, asking me to explain the y axis in my power law graph. He was asking to use dollars like he doesn't understand scientific notation. So I really doubt he understands what power laws are. Maybe the X account is not the real Jim618 but he claims to be.

Biggest takeaways from Farcon this week: 1. I couldn't attend it (see below) 2. Talked to several Farcaster OGs who expressed deep concerns about the culture + strategy of the app shifting, but are afraid to speak out 3. Heard several stories of censorship happening (ie. accounts getting banned simply for casting in languages other than English, accounts getting banned for speaking out against Warpcast leadership or strategy) 4. Heard the repeated sentiment that the community is elitist / exclusionary (which sounds about right based on my personal experience of trying to simply attend meetups to learn more about Farcaster and being unable to get in.) 5. Seems like being a part of the "Base Cabal" or being friends with someone at Coinbase is often times a requirement for success in the Farcaster eco 6. Sensed a division forming within the NYC crypto scene: - On one hand you have "Brooklyn Crypto" which is holier than thou, ships "vibes" and is full of Farcaster maxis - On the other hand you have "Manhattan Crypto" which is where anyone is welcome at meetups, people ship cool shit, alt-VMs and Solana are welcome, and seems to be dominated by X dot com enjoyers I really hope for this industry's sake that someone can ship a good alternative client for Farcaster that can gain some real traction Because the promise of a decentralized social graph is so damn important, and really gets me excited to participate