The energy given to Bitcoin is mostly energy that has no other buyer, and without Bitcoin has no value as waste energy.

The fascinating thing is because the energy has no other buyer it has no value other than what Bitcoin offers for it. Two things with otherwise no value, give value to each other.

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Hey! Thanks for the counterargument, without being able to defend our position how are we to really determine the correct position to hold? Appreciate you.

You are correct, the value is subjective.

Although the value of everything is subjective. There's subjective value in products that are created, which represents the subjective value of the time and energy used to create them that is saved by buyers who don't make the products themselves.

Bitcoin itself is trading coins for energy, the amount of energy given has subjective value that is exchanged for the coins given in return.

The energy given to Bitcoin is mostly energy that has no other buyer, and without Bitcoin has no value as waste energy. The fascinating thing is because the energy has no other buyer it has no value other than what Bitcoin offers for it. Two things with otherwise no value, give value to each other.

Gotta give the gang in charge their protection money.

Then find merchants who accept Bitcoin directly. Strike has to do a lot of work to build the functional bridge between the FIAT economy and Bitcoin and they deserve to get paid for it.

Plato's allegory of the cave.

https://en.m.wikipedia.org/wiki/Allegory_of_the_cave

Interesting thought, though it's not likely due to the fact that it requires humans to actually create the energy to give to it.

Bitcoin isn't physical, so it can't destroy our 3 dimensional reality with never ending desire for energy.

The only reason we want energy is to live better lives, but we're also getting better at using energy more efficiently. Things are getting cheaper and quality of life is getting better, all over the planet. It's doubtful that a future humanity that has an abundance of energy, and resources acquired with that energy, will go so far as to destroy itself for more Bitcoin.

Accounts are effectively permanent, only your access to it can be lost. Take a break but don't burn your key, you may want to come back to the same account in the future.

FBI analysts have good and bad mornings too.

This morning is better. GM everyone. 🙂

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The difficulty adjustment is a network declared value adjustment.

The price on the energy market (mining) goes up or down with the difficulty.

The price on the FIAT market seems unrelated but it isn't, as it is closely tied to the movements in the marginal costs of new coins.

If the difficulty regularly goes up, then the value is going up. If the price isn't going up but the difficulty is, then it's in a crash which is a good time to sell FIAT for Bitcoin and HODL.

If the price is going up FASTER than the difficulty is, then it's still a good time to acquire Bitcoin and HODL (with caution though, there is always a correction) but it's also a better time to use Bitcoin to pay for reasonable life expenses.

Avoid buying FIAT with Bitcoin if it's below it's mining average cost of production, instead just borrow FIAT to be able to continue to HODL while it's undervalued until it returns to a price that's above it's average mining cost, and avoid selling FIAT for Bitcoin if it's more than 3x it's mining average cost of production.

Don't trade, just buy HODL and sell based on whether coins are overvalued or undervalued relative to their production cost for miners. That's it.

The more people do this, the more the price will be anchored to it's marginal cost and the more stable it will grow to be able to be used as a global unit of account.

😂

I wish we invented a pet rock that turned energy directly into money sooner!

I never find these funny like most people. I just see men being shamed for their genetically required responses to visual stimuli.

The female body is attractive to straight males. There's nothing wrong with that and there's nothing to be ashamed of for accepting it.

You can have great art that you love and cherish at home, and still enjoy beautiful art that you see at a restaurant or museum.

Real relationships are not threatened by looking at what's around us, it is after all who we choose to spend our time with that matters much more than what we occasionally look at.

Let your partner enjoy a look, it is often involuntary and done without conscious thought. If you're relationship is weak then being fearful and shaming will hasten it's demise. If it however is strong, than it (and you) has nothing to fear.

*The mining network hashrate does not reduce by half to maintain the previous valuation per coin, instead it (the valuation) has doubled against the time and energy input by the mining network every 10 minutes.

Bitcoin's real affect on the world will arrive when nation states shift from a strategy of acquiring Bitcoin with their money printers, to one where they battle for control of as much of the network hashrate as possible.

Accelerating the growth of the mining network which further increases the value of the coins received in exchange.

That shift to a world of "hashrate wars" only occurs once we all stop accepting their printed debt bonds. We each decide when that is possible for ourselves, and we each get to help others figure that out as well by leading by example.

Just imagine instead of headlines of new violent conflicts between enemy nations, they instead announced new energy generation projects. World War 3 can be a war of value creation instead of value destruction.

Bitcoin is like nothing that has ever come before, it is the greatest invention in human history because it unifies us on a system of honesty and sound money that will be understood by everyone across all languages.

Bitcoin is abundance, Bitcoin is peace, Bitcoin is freedom, Bitcoin is truth.

Buy the truth and do not sell it.

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What determines the price of 1 Bitcoin?

It is the value of the energy used to mine it.

The network itself is paying humanity for the energy needed to be both functional and secure. This value continues to grow in real terms while it drops in relative/nominal terms.

Bitcoin is paying humanity with units of itself, both declaring the value of the network overall and the value of the units within it, in exchange for the value of the energy and time fed into it for functionality and security.

It then revalues itself every 4 years against that energy when it reduces the subsidy by half. The mining network hashrate does not reduce by half to maintain the previous valuation per coin, instead it has doubled against the time and energy input by the mining network every 10 minutes.

Every time the halving occurs, the value of all Bitcoin's is declared worth twice as much time and energy as before. When the hashrate continues to climb after this declaration then we know it is accepted by the market.

This market acceptance has occurred every time and will likely continue to occur due to the fact that nothing else exists that offers direct value in exchange for energy without a middle man creating something to sell first.

Bitcoin turns all sources of electricity into sources of money. The cheaper the electricity is to create, the more money there is to be made. This changes humanities relationship with energy generation, and gives us a way to create abundant energy the likes of which the world has never seen.

Doge and Monero will never be the foundation of the new world. Scaling on chain isn't necessary.

Every 10 minutes Bitcoin stays functional represents an increase in value.

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Couldn't agree more.

Hey there, Google Play cancelled my subscription to Primal premium claiming I didn't confirm it in the app. I resubscribed but it says it will cancel my subscription again if I don't confirm in the app. There's nowhere to confirm in the app. What do I do?