Replying to Avatar ₿itcoin ₿ombadil

When people say hash follows price, they mean hash follows the Ten Minute Difficulty target, right?

Because Satoshi started mining #Bitcoin  before there was purchasing power, right?

So maybe purchasing power follows some derivative of Proof of Work with respect to time + users?

New #Bitcoin Valuation Model

Purchasing Power of #Bitcoin is some function of the derivative of Total Accumulated Proof of Work with respect to Time plus or multiplied by Metcalfe’s Law. 🤷🏻‍♂️

PP of #BTC  = (dW / dT) +/* N^2

So basically #Bitcoin = the definition of Power in Physics + Metcalfe’s Law + flawless and immutable chain of accounting memory that is created by user power and user nodes.

3c
₿itcoin 1y ago

What is meltcafe's law

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₿itcoin ₿ombadil 1y ago

https://en.m.wikipedia.org/wiki/Metcalfe's_law

3c
₿itcoin 1y ago

Would you need to know how many users are on the network to know the price then?

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₿itcoin ₿ombadil 1y ago

Yes… for the purposes of this #Bitcoin valuation Model yes

But also remember… it’s only a model

3c
₿itcoin 1y ago

Yeah

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