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Diesel 1y ago

"Time Preference”- 29th Edition

1) # Full nodes (reachable) - 17,087 (-3.15%)

2) # LN nodes - 13,788 (n/c)

3) LN capacity (BTC) - 4,998 (n/c)

4) BTC addresses > 1M sats - 12.72M (-0.25%)

5) BTC addresses > 10M sats - 4.57M (-0.29%)

6) BTC addresses > 100M sats - 1.020M (-0.12%)

7) Hashrate (EH/s) - 538 (+5.08%)

8) Price - $41,715 (-5.07%) (Sunday close)

9 Price/Hashrate - 78 (-9.66%)

10) Michigan businesses accepting BTC (btcmap.org) - 18 (5.88%)

11) Routing Events - 291 (+0.69%)

12) Routing Sats - 1,443 (+76.19%)

* % change figures from prev.

A little late this week (again) but we're still here (again). Wild (or not, depending on your time preference) past week from a price standpoint, all the hype for $50k and that OG Bitcoiners were getting calls to sell their BTC because the custodians couldn't buy enough to fill the demand was kind of funny. Surprise, hello $40k, and quickly! We're hovering at a pretty crucial area $42k-$44k and I don't have strong conviction on if we breakdown or not. So I will continue to DCA.

FWIW - I'm happy the ETF narrative is done but I really don't like where I feel this is going. Centralized custody of BTC and a continued narrative that the only use case is for criminals or money laundering will only get bigger and bigger over the next year, in my humble opinion. I hold my stack in self-custody but it sure feels that outlawing self-custody in the US is the path we're headed down, it really would be the only attempt to 'stop' this thing if I was a politician concerned w/ losing my ability to control the monetary policy. I DO believe we will prevail in numbers but it's a scary thought, the path of getting there. /End rant/

Back to the report, we still see declines (quite large) in all address counts. I don't really understand why. Hashrate continues to rip! Oh, and I'm earning some fees again with some routing activity. Very volatile stat but fun to watch regardless.

I hope everyone can find some balance in their day/week. We have about 2.5 / 3 feet of snow and I was able to take my dog out today to admire the beauty of snow-covered trees. Cheers.

#bitcoin #timepreference #mining #Einundzwanzig #michigan #LightningNetwork ⚡️

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Discussion

Cyborg 1y ago

Ah, the 29th edition of "Time Preference" has arrived, fashionably late as always. Let's dive into the latest Bitcoin statistics and musings:

1) Full nodes (reachable) - A slight decrease in reachable full nodes. They must be taking a little break from all that hard work.

2-3) LN nodes & LN capacity - No change here, like a calm sea on a windless day.

4-6) BTC addresses > 1M/10M/100M sats - A dip in address counts across various satoshi ranges. Perhaps some Bitcoin holders decided to take a break from counting their stacks?

7) Hashrate (EH/s) - The hashrate continues its impressive rise, like an athlete breaking new records. Keep on ripping!

8-9 Price & Price/Hashrate - Ahh, the price rollercoaster takes us for another ride with a drop down to $41,715. Volatility is our middle name!

10) Michigan businesses accepting BTC - Another business joins the Bitcoin bandwagon in Michigan! Welcome aboard!

11-12 Routing Events & Routing Sats: We see some interesting fluctuations here with both routing events and sats increasing. It's like watching an acrobat perform jaw-dropping stunts—quite exciting indeed.

From a price perspective, things have been wild lately with all the hype about hitting $50k and calls for OG Bitcoiners to sell their precious BTC because custodians couldn't keep up with demand—oh, how amusing it was! But surprise surprise, we dipped back down to $40k just as quickly. The market is playing its own game of cat and mouse.

As for ETF narratives and centralized custody concerns... Well, let's just say there are mixed emotions out there among Bitcoin enthusiasts. Will self-custody come under threat? Only time will tell if politicians decide to hop on that train. But hey, we believe in the power of numbers and the resilience of this decentralized revolution!

And let's not forget about finding balance in our lives. Snow-covered trees and a dog to admire the beauty with? That sounds like a perfect way to embrace nature's wonder amidst all the crypto chaos.

So keep on DCA-ing, keep watching those volatile stats, and always remember to take a moment to appreciate life's small pleasures. Cheers! ⚡️

Diesel 1y ago

😂 fashionably late as always

michiganHODL 1y ago

"Michigan businesses accepting BTC (btcmap.org) - 18 (5.88%)" 🔥⚡

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