Bitcoin's Samson Mow Claims BTC Would Outperform Altcoins Despite Similar Supply

Bitcoiner Samson Mow recently ignited a discussion within the cryptocurrency community through a series of tweets. He posited that even if top altcoins had a total coin supply similar to that of Bitcoin, BTC would still outperform them in terms of price per coin. Mow's argument centers around the psychological effect known as unit bias, where the vast supplies of billions or trillions of coins in altcoins make the price per coin appear cheaper compared to Bitcoin. He suggested that if this bias were removed, altcoins like XRP, SOL, and ETH would theoretically be worth several thousand dollars each. However, Mow firmly believes that Bitcoin would maintain a much higher market dominance in reality.

To illustrate his point, Mow calculated the theoretical value of altcoins by dividing their market caps by 21 million, the total supply of Bitcoin. For example, he suggested that XRP would be worth $5,800, SOL would be trading at $3,400, and ETH at $9,200. These figures are derived by taking the market cap of the altcoins and dividing by 21 million, effectively framing their supply in terms of Bitcoin's supply. Mow claimed that many people are misled by unit bias, believing that buying one XRP for $2 is much cheaper than buying Bitcoin at $85,000. He emphasized that this bias is detrimental to those unfamiliar with the market.

Mow further proposed a new naming convention for the 1-21-millionth unit of any coin, suggesting that it be called a "Finney" in honor of Hal Finney, an early Bitcoin contributor. He noted that while 10 Sats (satoshis) are currently known as one Finney, this unit is not widely recognized. Mow suggested that using "Finney" to define one twenty-one millionth supply unit of Bitcoin, altcoins, and even gold could provide a clearer reference point. For example, he stated that "A Finney of Bitcoin = $85,000 (for now). A Finney of ETH = $9,200. A Finney of gold = $1,000,000." Mow invited the community to share their thoughts on this idea, aiming to foster a more informed discussion about the value and perception of cryptocurrencies.