A $500 billion blockchain exists because a 15 year old cried himself to sleep over a World of Warcraft update
In 2010, Blizzard nerfed Vitalik Buterin's favorite Warlock spell in World of Warcraft
His own words: "I cried myself to sleep, and on that day I realized what horrors centralized services can bring"
Quit the game. A year later his dad showed him Bitcoin.
He couldn't mine it and couldn't afford to buy it.
So he started writing articles for a crypto blog for 5 BTC each, worth about $3.50 at the time.
Those 5 BTC are worth $335,000 today for ONE article.
Co-founded Bitcoin Magazine at 17.
Applied for a job at Ripple.
They accepted him but couldn't sponsor his visa.
At 19 he proposed major changes to Bitcoin.
The community said no.
So he wrote his own whitepaper. Called it Ethereum.
30 developers reached out within weeks.
Dropped out of college. Got a $100K Thiel Fellowship. Sold ETH at $0.31 in the ICO and raised $18 million.
One person spent $310,000 on 1 million ETH in that sale worth around $4.3 billion at peak.
Another one invested $263 and got 850 ETH now worth over $1.7 million.
Ethereum launched when Vitalik was 21. Peak market cap: over $500 billion.
All because Blizzard nerfed a Warlock spell.
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Bitcoin at $45k still feels mispriced for 2024 ETF inflows and halving excitement
Market consensus is that ETF is long term bullish for $BTC which is correct, but the frontloading of ETF flows is underappreciated
Consider that gold ETFs have $120B AUM with an average expense ratio of 0.6%. That's $720m a year in fees. Net Present Value of these fees is ~$10-20B+
So from launch day, ETF issuers will be fighting an all-out land grab for $10-20B in future fees where every marketing dollar spent in 2024 is 10x more important than marketing dollars spent in 2025 since once customers choose an ETF, they don't really switch
And with asset management, you have a business where customer value continues to increase over time which means getting every customer counts. A kid that puts in $1,000 today could have a position worth $250k in 10 years as they mature in their career and the price of BTC grows
When you think about the size of the opportunity, it shouldn't surprise us to see marketing/ad spend on the scale of 2021 bull madness. When you consider the importance of timing for issuers, maybe we even take it a level further. It's going to be a bonanza.
Being a #BossLlama is definitely a privilege.. and I'm definitely thankful for everything I've been blessed with in the NFT space!
Not to forget.. non of this matters if you haven't found happiness and satisfaction with a simple life!
Love is the key! ❤🙏