The CFV underestimates networks like eCash because it only considers transactions of the underlying asset (XEC). However, even ignoring half of the architecture, it already detects value. Fair value ≈ US$ 34 billion XEC = currency CFV treats everything as a “coin economy” (market already “defined”) 💥 But in practice, value is migrating to tokens XEC = currency XEC = infrastructure that allows money to exist (Stablecoins) “token economy on infrastructure” (infrastructure in formation) Example: Internet TCP/IP infrastructure Google / apps perceived value In eCash XEC would be like TCP/IP Stablecoins the financial apps ♟️The value may be in the infrastructure, not in the currency.
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