Spent the weekend analysing Cambridge’s bitcoin consumption index CBECI.
Conclusion: was accurate but has lost tune since the China-ban. Now overestimating by around 20%.
Data and pretty charts to come
This is their latest one, or last years?
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The latest CBECI version is still overestimating. Especially when bitcoin price goes up it overestimates how many additional low-efficiency machines rejoin the network.
Working behind the scenes to build a better global estimate.
🙏
