Nostr

IMO Bitcoin halvings are not “priced in” for three critical reasons.

1. Many individuals aren’t educated on Bitcoin halvings.

2. Some think Bitcoin’s security is flawed as the block subsidy trends to 0.

3. Today’s price bids bring miners tomorrow who sell to cover OpEx.

There is no nominal supply side response to an increase in the price of BTC, but there is an real supply side response to an increase in the price.

Miners continue mining on the supply distribution schedule, and miners usually sell to at least cover their OpEx.

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Discussion

B.O.P 2y ago

This trend seems to be diminishing as hardware see’s deflation and electricity trends towards zero over the long run

B.O.P 2y ago

Miners being sellers for opex

Joe Burnett 2y ago

Daily OpEx sell pressure from miners has likely never been higher.

B.O.P 2y ago

I guess I meant over like 10-20 years wouldnt we expect hardware and electricity to trend towards zero

dr.fred 2y ago

gemini and greyscale need to work themselves out. they need to go bankrupt or whatever then bitcoin will get rid of this parasitic drag and after a solution it can go higher. greyscale owns only 1.7% of bitcoin and gemini is highly leveraged. it can be absorbed easily and the market is just anxiously waiting what is happening with these failed speculators before it can reach a new high.

HashTrash4Cash 2y ago

How exactly is Gemini highly leveraged?