Replying to Avatar Jack K

Each block, miners create entropy by searching a 32-bit search space for a valid nonce, which is scaled by difficulty, and on the inverse a valid nonce resolves the entropy created by the number of possible microstates a block could take (unknown until mined), which is weighted by fees.

The energy of the entropy generated is equal to the energy of the entropy resolved. Knowledge of this process is how we use thermodynamics/physics to deterministically measure the amount of joules within Bitcoin the system.

Each block is associated with energy flowing into the system, this is the real NGU. Energy of Bitcoin in joules is increase as long as the Coinbase + Fees of the block is non-zero.

You can deterministically measure the amount of energy within Bitcoin from Genesis to present without any fiat and just joules per btc or joules per Satsoshi….its just physics.

In almost16 years, I’m shocked no one has done it. Everyone is stuck in the abstraction of 21M scares units.
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TheBitcoinBattery 1y ago

Very interesting! I'd love to see an in depth article or chart showing the joules of the network and the joules per Bitcoin over time.

IMO the 21,000,000 number is basically irrelevant and a marketing ploy (Sacrilege!). What's more relevant is that the total supply will never be meaningfully debased, instead the new supply halves every 4 years so the energy and time input per new Bitcoin continues to grow which drags the price on the open market up along with it.

Bitcoin's market cap is capable of going significantly higher than everything else combined. Because the market cap is meaningless. The average cost of production of new coins in Time and Joules is what matters.

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Jack K 1y ago

We are working out how to release something this properly. Again the implications of this are not to be taken lightly at all. Bitcoin fixes physics, meaning every single person’s world view on reality is not based in a fully truthful foundation.

It’s been ~16 years and bitcoiners, physicists and engineers have failed to actually capture and quantify bitcoins innate nature; energy. This is why nobody can agree with what Bitcoin is. Everyone is larping based on their view of the abstract 21M units, and it’s such a shallow rabbit hole. The bitcoin space in this framework is incredibly stale.

We’re going much much deeper. After the new year expect to hear some news.