@marcwparrish Yeah energy might be better. I think energy is difficult to quantify because it requires estimating the average efficiency of the average miner, and we can only guess at what machines are currently operating
@MICH__ELE@saifedean Looks like he goes harder than me. I think the price will continue to climb higher than Saif does. I just think the Fiat VC bros overshot mining investment and it will now settle into a stable equilibrium
"Esa es ciertamente una visión del mundo, pero está completamente en desacuerdo con la visión del mundo subyacente de Bitcoin, que es que los usuarios del dinero deberían tener la capacidad de asegurar los medios de su propia red monetaria como ellos vean conveniente. Y desde esta visión del mundo, los mineros entonces no son una cuestión amoral de presupuesto de seguridad, sino en cambio una cuestión de seguridad impulsada por los usuarios, donde los “flujos de caja” de las operaciones no se derivan de las recompensas de bloque, sino más bien de la solidez monetaria del protocolo que ellos hacen cumplir. Las recompensas de bloque son simplemente una pequeña solución técnica de señoreaje para el arranque de la red. Y es a esta luz que Andreas Antonopoulos explicó tan poética y famosamente la necesidad y, igualmente importante, la capacidad de la red para hacer un hard fork a un nuevo proof of work si tal circunstancia surge requiriendo que se ejecute tal opción nuclear."
@jdwagner17@21milinfinity The “security budget” idea suggests that miners need a cash flow incentive to support their role as a double spend protector. The logic here assumes miners are not also the users of Bitcoin as money, and instead are simply using their skill to acquire microchip and electricity
People would revolt if the US printed a $200 bill.
So instead they quietly doubled the ratio of $100 bills to $20 bills:
2008 ratio: one to one
2024 ratio: almost two to one
federalreserve.gov/paymentsystems…
BlackRock flagged Bitcoin miners as a risk factor in IBIT's 10-K.
The filing says lower block rewards "could result in less of an incentive for miners," which puts network security in question.
Every halving cuts the subsidy that pays for Bitcoin's security. The operators still
@kurtdoten Saylor in 2025 - I will never fund core devs. “If I wanted to destroy Bitcoin, I would fund core devs” (on video)
You in 2025 - Saying Saylor will start funding core devs is fear porn.
Saylor in 2026 - started funding core devs
@ralflmuller The funny thing is that if mining were 100 times more powerful right now, they would say the exact same statement with zero quantification. There’s never “this is how much we need” there’s always just “less is a risk”
BITO, the first bitcoin futures ETF, started trading on the NYSE in October 2021. Since then we’ve seen the worst 5-year performance in history. There are not enough cows on earth to produce the amount of bullshit required to say “Wall Street is good for bitcoin”
@AdaptiveAlph@VictorJacksonX It can but it didn’t. Look at both price performance and fees since the ETF launch, and compare that to the era before. Sorry I’m not gonna entertain the “it would have been worse without ETFs”
Agree about needing a wake up call. I’d prefer a Coinbase hack to seizure
@AdaptiveAlph@VictorJacksonX Sure that helps a bit but that tiny compared to if they actually owned bitcon, not paper. Substituting owning bitcon for owning paper has taken astronomical fees off the chain
108K Followers 6K FollowingFollow for Bitcoin & capital markets insights. CEO of The Bitcoin Bond Company, Steward of @CatholicBitcoin, host of the @BitcoinForCorps Show, Board @Strive
34K Followers 4K FollowingCypherpunk Artist infusing software, math, art, tech, and chemistry into biological interfaces. #BitcoinOnly. No Shitcoins. No NFTs. https://t.co/R0dsYMsF02
95K Followers 6K FollowingMy name's Wicked.
I'm an apple who loves art, math, programming, and Bitcoin.
Exit fiat, save in bitcoin, and take it into self custody.
Learn UTXO mgmt.
✌️🍎🍻
4K Followers 5K FollowingBitcoiner since 2013 who lost it all in the cold card hack. Rebuilding sat by sat with more conviction and grit - I will NEVER ask for donations or sympathy.
99 Followers 436 Following#Bitcoin ⚡ i only see the future, BTC for the freedom of slave money, DevOps Pow is the proof of your slavery
┻┳| •.•)
┳┻|⊂ノ https://t.co/0q89rDv156
16 Followers 95 FollowingI help to create self-custody security for Bitcoin holders. Every situation is different - your holdings, your threat model, your setup.