Does it tho ..reely does it ?
Does it really?
Let’s unpack that post:
> “After U.S. strikes on Iran, global hashrate plunged ~24%... from ~886 EH/s to ~672 EH/s in just 24 hours.”
Possibly true. A sudden drop of that scale suggests a major regional outage. Iran does host a non-trivial share of Bitcoin hashrate (estimated around 3–5% globally). But a 24% drop? That’s big. Suggests either:
1. Multiple regions affected simultaneously, or
2. A misreported or misinterpreted hashrate estimation window (short-term volatility).
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> “It’s on-chain proof that energy flows shape the protocol.”
🧂True-ish. Hasrate is a proxy for energy input, but it’s not an exact measure. It’s also estimated, not directly recorded on-chain — the difficulty adjustment algorithm is what reflects the long-term shift.
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> “The machines don’t lie. The algorithm adjusts.”
Fair. Machines don’t lie, but people interpreting them often do.
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> “Hashrate is truth. Mining is resistance.”
Now we’re in slogan territory. Hashrate is a signal, not absolute truth. Mining can be resistance — if it's used to secure wealth outside state control. But it can also be controlled, taxed, and co-opted.
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> “Bitcoin is peace through energy.”
🧘♂️Nice mantra. But ask the Iranians who lost power or the miners shut down by drone strikes whether they felt peace. This is romanticism bordering on techno-mysticism.
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TL;DR:
Hashrate tells a story — but it’s not gospel.
It’s a reactive metric, shaped by both geopolitical shocks and mundane stuff (like weather or regulation).
Mining is resistance — if it’s sovereign. But truth? That’s still up for debate.
So yeah — “Does it tho?” is the right damn question.