I wish #Strategy stopped buying for six months ..
Don't you want to know the real price of #bitcoin ?
#askNostr
Discussion
1. How would the “real” price of Bitcoin exclude real people who value it? 🤔
2. IMO, Everyone has an absurd idea of what Saylor’s tiny contribution to liquidity actually means in the market. The amount of daily volume is half of everything Strategy even holds after years of accumulating. He has almost zero lasting effect on the market because of buying a couple thousand bitcoin spread out across weeks.
If Strategy is a component of the market, then the current price is the real price.
Strategy is kinda a market maker ... Not a component of market ... Because their charter is never to sell ... If you are not buying the dip and selling the peak , you are not part of market
Where’s their proof of reserves?
Bitcoin is measured by physics in joules, all will be humbled by trying to price it in fiat.
The greatest of follies is even thinking about bitcoin through fiat.
That is a great pov .. how many total joules ( work ) in creating a block ... Is that what you mean
Yes, each block and its creation has a defined temperature and a defined entropy traversed through a known nonce search space scaled by difficulty (defined action). Landauers principle can be extended to a minimum amount of energy to write an immutable block of information.
Crystalized immutable information is the structure of the energy. I believe this is the final law of thermodynamics and terminal end of energy in any thermodynamic cycle.
If I’m correct, our understanding of everything changes.
But how that is any different from casting a bar of Gold ? Each bar has all that what you said !
Well for one because bitcoin has no centralized observer (measurement) and each block is openly verifiable by the entire network. Each block is defined by a standard unit of measure (hashes) and has network consensus regarding said measurement. This resolves the observer problem in quantum theory.
This is not possible with gold and verification is costly and requires trust. We also cannot audit the energy required to make gold atoms as it occurred in the creation of earth. You could theoretically only capture the measurement as you transmute the gold into different bars/coinage (UTXOs).
Bitcoin is open and auditable from Genesis. Nothing is needed to calculate joules except what is already native to the ledger.
The real "price" of Bitcoin is whatever rate people are willing to exchange other forms of money for it