Extremely high-level analysis, thank you for posting it.

"Notice once again the problem with Metcalfe’s law: A single bitcoin going for $5 billion or more in 2023? Not likely, and perhaps not even possible. By contrast, the implied n log(n) intrinsic value looks much more reasonable."

Very astute observation. Are you saying we won't all be billionaires in un-depreciated currencies? =)