https://www.heartoftheart.org/?p=1230
Because of the mining network subsidy, the difficulty adjustment, and the halving, Bitcoin's price in energy is growing exponentially. But the energy itself costs less as we get better at making it, which dampens this effect on the value.
Bitcoin is programmed to have a maximum of 64 halvings. But unless further division of the network receives consensus as Satoshi himself mused may occur (https://satoshi.nakamotoinstitute.org/posts/bitcointalk/46/), then mathematically only 32 halvings will ever occur.
We're still on the first 4 spaces of the King's (Global society's) chessboard, and we've only increased the granules of rice (joules of energy) per space (halving epoch) to 8 grains of rice (total input from excess energy production).
On space 32 of the chessboard shall be placed: 2,147,483,648 grains of rice, and the subdividing of that space on the chessboard will be into only 488,888 Sats.
Each new halving leads to an epoch where the energy input at least doubles per coin. This is due to the fact that the amount of time and energy required is doubled to get the same number of coins as before.
Humans get better at making energy cheaper all the time, but this effect is offset by the networks continually growing hashrate even between halvings. Stimulated by the difficulty adjustment.
The Bitcoin networks value relative to time and energy is growing exponentially.
Considering "8 grains of rice" (the total value of the mining network represented by 8 grains) is currently being exchanged for 656,350 Bitcoin (total block subsidy over 4 years), the price per Bitcoin is 1/82043.75 or 0.00001218862 "grains of rice".
By the 32nd space in the chessboard of the Bitcoin Blockchain, 1 Satoshi will cost the King 4392.6 grains of rice. That sounds like a lot, too much even, but to meet this unending demand the King has increased rice production enough to meet it. So 4392.6 grains of rice is only 1/488,888 of the total mining network energy input over the 4 years of that epoch.
I have no idea what the excess energy production of the world, and the fraction of it given to Bitcoin, will be at that time; but whatever it is the value of all that energy in the 32nd epoch will be divided into only 488,888 Sats.
You are not bullish enough.
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.
Yes!!! Time is the ultimate source of value, and every 4 years the network reprices itself relative to BOTH Time and Energy. It's beautiful.
Can you elaborate on what you meant though by entropy creation/resolution?
Bitcoin IS priced in Joules.
Bitcoin and Joules are also priced in Dollars.
Bitcoin/Joules/Dollars provide us a value tracking triangle that allows us to see if one of the markets is unbalanced.
If the price of both Bitcoin and Joules skyrocket equally, then we know it's more likely the dollar that is collapsing.
If the price of Bitcoin rises in Dollars far faster than Bitcoins price in Joules, or Joules price in Dollars, then we know that Bitcoin itself is climbing on its own due to fomo (this occurs in the last few months of the bull runs).
We need to get those young whippersnappers into this revolutionary global group chat!
GN
Hopefully they find it soon!
#Nostr is like a global group chat where each individual gets to choose who's messages appear in their feed or not. Even able to personal remove people from it if desired through muting.
This is amazing. I love Nostr!!!
Diversification of stash location. Not a bad choice TBH. But corporations are not the only option. You can custody part of your stack with trusted family members. You can also custody some of their stack in return. Ensuring each other against catastrophe without involving strangers.
This is the #1 way that I use to stack a lot of extra, EASY bitcoin.
I'm not even *buying* it.
~$8,000 worth in 1.5 years... not a joke.
People really dismiss this combo, but it makes a huge difference if you use them consistently. 👇
Shout to Fold, nostr:npub18tcc00lqpysdsurg567dllzg7jeyr5wcyk2v6w23rx3s3ygyze2qv32nxx and nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 for the setup that makes this work. 🫡
nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 + 2% cash back credit cards beats this.
Share the base wallet key among multiple trusted family members with everyone having the wallet loaded onto hardware. Each family member has their own wallets within their own passphrases. 50% of each of their funds held in their own passphrase, the rest split among the wallets held by family members who also store some of their balances on each others passphrases.
You each help each other secure your Bitcoin and reduce the chance of anyone having catastrophic failure.
Are you suggesting you not even share custody with your spouse?
This is what Bitcoin really means. It's the why behind the enthusiasm to grow the network.
Bitcoin = Freedom, peace, & prosperity.
It's the penicillin to our societiy's FIAT sickness.
Clip from: God Bless Bitcoin
There is! The QR code just links to a short URL that redirects to the link you give them. I could update the QR codes at any time to go somewhere else, but the links directly printed underneath would obviously never change lol.