This may be upsetting for some bitcoiners to read but he's right, and I recommend you read it if you consider yourself a bitcoiner.
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The first 4 paragraphs building an argument that shitcoins are worth something because their combined value is trillion dollars is a joke at best. VCs with PR campaigns, Market Makers and Wall Street can run any projects dollar capitalisation to whatever size they want. So shitcoins combined marketcap is not something to go by.