🏴‍☠️⚡💎🙌💊🧡🚀

It's 780,063 o'block.

+++ Market-Data +++

#BITCOIN price is at $20,311.65

24h Price-Change: -7.75%

#BTC is -69.96% down from #ATH

#BTC has 232.9% left to reach last #ATH

Market-Cap: $392,153,234,656

24h Market-Cap-Change: -8.0%

24h Total-Trading-Vol.: $41,095,402,477

+++ BTC-Supply-Data +++

Circulating Supply: 19,312,881

Coins left to mine: 1,687,119

Days until next #BTC-Halving: ~417

Blocks until next #BTC-Halving: 59,937

+++ BTC-Mining-Data +++

1-Day Net-Hashrate in EH/s: 279.99

7-Day Net-Hashrate in EH/s: 316.421

30-Day Net-Hashrate in EH/s: 310.099

90-Day Net-Hashrate in EH/s: 279.006

365-Day Net-Hashrate in EH/s: 238.097

Net-Difficulty: 43,053,844,193,928

Mining-Sustainability: 56.2%

Mining-Reward-Fees in Sats: 43,374,173

Mining-Reward per Block in BTC: 6.25

#BTC ₿ #soundmoney #Nostr #Bitcoin

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!!!no financial advice!!!

This is where they need to be very specific or we will enter another "energy saver" battle. Not sure if anyone remembers but they came after every electrical appliance Americans had in the 80s and 90s. It was used to push manufacturing overseas, but I can't prove that

For large miners they might create a small disruption, like china banning mining, but in the end it'll just make individual mining more effective. You think the government has the resource to pool electricity rates and usage for individuals and prove mining is going on? They would mistake usage for refrigerators and dryers before they notice bitcoin mining rigs.

In a world of digital gold,

A currency uncontrolled.

Bitcoin, the king of crypto,

A decentralization motto.

Satoshi Nakamoto's brainchild,

A peer-to-peer network compiled.

The blockchain, its immutable trail,

Transfers without banks or mail.

A finite supply, no printing press,

A digital asset, hard to suppress.

Mining for coins, a computational chore,

A trustless system, we can't ignore.

The value fluctuates, a rollercoaster ride,

Speculation or a hedge to provide?

A store of value, a medium of exchange,

Bitcoin, a financial gamechanger, no change.

Correct… it would just change the relative future distribution of bitcoin.

It the mining reward is effectively a socially agreed upon “tax” that gets redistributed by POW. In the current mechanism that tax is decreasing in absolute terms. In the mechanism you just mentioned it is decreasing in relative % terms, and you could also imagine a mechanism where it remains a constant % and increases in absolute terms.

I’m basically just asking what the trade-offs of these 3 policies really are. Again, fully aware that actually trying to change bitcoin would have its own major negative implications for social consensus.

3. Mining Mania: How to Get Rich (or at Least Try) with Bitcoin Production

Ah, Bitcoin mining – another way to get rich, or at least try to. But what is it exactly? Well, mining is the process by which new bitcoins are put into circulation. And how does it work? Well, that's a good question that I would like to answer if I really understood it myself.

But seriously, Bitcoin mining is a pretty complex process that uses special devices called mining rigs to solve complex mathematical equations. Anyone who owns a mining rig can participate in this process and be rewarded for contributing to the solution of these equations.

And yes, you heard that right, you can actually earn money by solving these equations. But be warned, it's not an easy feat. You need special mining rigs that consume a lot of power and can create noise. But if you do it right, you can earn a good amount of bitcoins.

However, there is a catch. The difficulty of mining constantly increases, meaning it becomes harder to earn bitcoins the more people participate in mining. You also need to consider the costs of electricity and maintaining your mining rigs.

If you're willing to overcome all these obstacles, though, you can actually make a lot of money. But as with anything in life, there are no guarantees. Mining can either be a golden opportunity or an expensive hobby. It all depends on how you approach it.

And of course, as with anything in the Bitcoin world, remember: Don't panic! If you don't have the necessary know-how or resources for mining, there are still other ways to get bitcoins. For example, you can buy bitcoins and keep them in a cold storage wallet to ensure they are safe and secure. So don't be afraid of mining, but also don't be afraid not to do it.

It’s been 3650 Days, almost 10 years exactly since Bitcoin has had a second of downtime.

All the madness of the last decade - hash rate increasing 100 fold, China mining bans, bank runs, market volatility. Nothing stops the network.

Tik tock, next block.

Green peace uses more diesel fuel than all Bitcoin mining companies combined.

They are not interested in a clean Earth.

fiat mining introducing new team member…

PowerPoint slide: family photo and hobbies: skateboarding and bitcoin

🤙🏽

“Leave my Bitcoin toaster alone!"

- Awesome 🔥 quote from hosts of the Simply Bitcoin YouTube channel (on US Congress Hearing for Cryptocurrency & the Environment)

Topic was what effect does Proof of Work mining have on the energy sector?

Well holy crap, my favorite girl from Wyoming... Hats off to you 🤠and major props🙌 to Sen. Cynthia Lummis for properly grilling that sacrificial lamb goofball from PennFuture. 👏👏👏👏

But the best part of the featured clip was Nebraska Public Power District External Affairs VP Courtney Dentlinger as the assistant to Lummis' slam dunk on the guy at the end! So satisfying!

Also, the guys at SIMPLY BITCOIN keep putting out great content. Keep it up fellas👍👍

ALSO X2... I used to watch sports like a caveman, but this is wayyy more entertaining to me lol 🤣🤙

Not seeing an off grid option that's heats itself via bitcoin mining or produces food.

Neither.

We had only 3 (out of 33) halvings, whatever you think, we're still way too early in #Bitcoin.

I was thinking of the testnet you've mentioned earlier, I don't think there was any. There were other tries for decentralized money but all of them failed due to the need of someone in the middle. You might have been mining one of them. The closest to #Bitcoin was Bitgold from Nick Szabo but it was only a paper and to this day, nobody claimed to write a code for it. Hal Finney developed another currency before 2008 that had to be mined, can't recall it's name now. Keep digging and keep me posted, please.

Do you seriously think the energy cost is up due to #Bitcoin mining? An honest question. Yes or no, please.

The Chinese government has been winning so much from the mining, they decided to ban it completely. Sure you know what you're talking about. Keep going troll.

After 2036 the Bitcoin block reward will no longer play a role, the only thing that counts then is vbyte/sat fees.

With that information on mind we can do a simple calculation:

300 EH/s currently that support the network to fight for the approx. 6.4BTC.

so 300 EH / 6.4 BTC == 46.875 EH/BTC

In 2036 assuming the same distribution (mining pools and so)

300 EH / 0.4 BTC == 750.0 EH/BTC

So mining now till 2036 is ultra profitable if you do not need to sell BTC and can keep all more than 0.4 BTC per block you mine.

If you are a miner and you have to sell more than (6.4 BTC - 0.4BTC=) 6 BTC it means your BTC holdings decrease over time and you are already mining at a loss in satoshi terms. (This 6 BTC include all HW, maintenance, defects, electricity, infra, people, salarys, insurance , new miners, new hardware, advancements, etc.).

Every halving will make it much more (2x ) difficult for you to keep up and keep a positive mining to satoshi balance...

So in 2024 this will even go lower, meaning your budget per block mined has a maximum of 2.8 BTC in total cost!

So in my view BTC mining will without increase in efficiency plato out after 2026 ... At this point Miners are in a bubble territory (in satoshi terms) and have to sell more than they get...

All this leave anything related to USD out... This is purely based on mining and keeping as many sats as possible. None of this big mining pools will be able to compete with private small miners that use completely free electricity where ever they get that.

Depends how long you’ve been using it. Ever run Bitcoin-Qt? Did you know people used to fuck up and enter the send value as the mining fee?