"But nobody in their right mind would pay $5,000 for each coin."
The number I gave was just an example. Furthermore, I said in the post that each coin was further divisible so you've immediately fallen for unit bias. That coin valued for $AU5,000 could be divisible into 10 units, meaning $AU500 each, or divisible by 100,000 meaning the smallest unit would be valued $AU0.05c
"If people don't understand the difference between circulating and maximum supply,"
So you seem to understand this, but then refer to 'Market Cap'? Furthermore circulating supply is also a useless metric. I could send coins back and forth from my own wallets all day and make it look like a tonne of economic activity. There is no method to measure true economic activity by either market cap or circulating supply data. These are useless metrics.
