The three vectors? Block reward, price, mining competition?
No matter the effort by miners, the block reward is fixed.
#m=image%2Fjpeg&dim=1571x755&blurhash=Z1R%3AHH04008w9D%5E%5E0J0000004VHr_N%3FZ-5%3FvM%7CWa00yDNFxZV%5B%25hIA4Tx%5D8%7D59x%5DnN%25L%3FFND-.4T&x=34533a4012dc61911cf52ae0572a258243ffb29915d926d1cf0de14a260188ba
I'm excited for you and eagerly watching what you come up with while you focus on those orange blocks.
Value of block reward = ((subsidy+fees) * BTC market price)
https://on.soundcloud.com/SWxw6
this is a long talk but when you get to the cypto section it will be explained
but basically you get BTC two ways buy it or mine it if it's less expensive to mine it will bring price down and vice versa
So market participants either buy BTC with cash, or the mine it. Ok.
Doesn't the difficulty adjustment take price out of the equation? - there is only so much block reward, and it is doesn't matter how much mining you do, you can't mine more (or less).
The marginal price of mined BTC will (eventually) follow the value of the block reward.
I like bech32m, but I'm not a normal person.
Seedwords are great for users. (Though, I wish that more thought had been out into choosing the BIP39 word list. But alas, that ship has sailed)
I curious about your perspective though.
Mining doesn't determine price.
Price determines mining.
Special thanks to nostr:npub1jf093k8ayzwe4pyelpcf4jpd4nxj6hygf2xgxercu6y099jsazdqt9w2uw nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424 nostr:npub1lck4ea3wjk4tgxds0dhc57m4609nqeh6ufwxk39vurulxrzexq7ssjg5k4 nostr:npub1hymqekqgkf8vhlgr2a0n6cmmre3v48l2g9dvv7mvtvg7790j35rqh3ntt0 nostr:npub1uq6dv4yq94704gk5r22jsqg9gy2wpxkk5dft9q5gugc8tj53nq2qg5q22d nostr:npub1mcneaunh0n9qy54sse0vr06nwhejzghumfjlmu3r54ugwx83qhlshqwtll for helping with my lightning node questions!
You are all verified for the help. Welcome to the Tavern. 🍻
🤝
#m=image%2Fjpeg&dim=1080x1347&blurhash=_69%406b-S9Fsq%25MxtD*%3F%3FRQ4nxt%3FboeWA%25QoL9ExZ%3Fao2aw%7EVs%2CD%25s%3B%25MWBRj%3FGNGM%7Ct7t7RjazI.xut7NGRjR*j%5D01Iq-%3Bt7IURjt6V%3BNF.8bv9FfkWqD%23j%3D.8NG9GR*t8&x=f8dc81d822ea84d9169e677169133829f996ae23d7c55e161996ee60d6cc9a09DM me a 100 sat invoice. Every successful invoice helps the gossip network
Ah, thanks
No matter where you buy, always withdraw to self custody.
Corey was a shitcoiner before he was a Bitcoiner. I thought all that was behind him...
Both.
But I'm usually happiest with decisions made by gut.