Demand will increase and the price increases. It’s one of the many things that makes bitcoin special.
Beyoncé is not a country music artist. Her two releases are objectively terrible, she's got her same hip hop voice overlaid on crappy country pop tracks. Yet Apple is pushing them on the country playlists I listen to. I immediately skip them...I hope they take the feedback.
If you put your capital at risk today and don’t get “SATS FLOW” for 4 years, that might not be as good as just holding Bitcoin and spending it slowly while waiting for the next bull run. Depends on the discount rate you assume.
Using what discount rate? nostr:note165xjkkf64smt4f7q2vpa28wpay4cgykn47ryta2me34dzvcadhlsqcnsx5
Any and all VC-fund backed / publicly traded companies eventually see the equity (and the governance hoops required to manage the equity) become the shitcoin.
But are they more profitable than buying bitcoin with the original capital allocation? And at what discount rate are they profitable? These are the key questions facing someone who is deciding whether to buy or mine. Obviously there are privacy and security considerations, too. But for only profit…for most people at this time in bitcoin’s history…buying bitcoin is a better capital allocation vs. mining.
I can get onboard with that angle but it’s different than your original comment. Not everyone needs to (or should) mine.
are you only asking the question of "can you afford to?" or are you also asking "i.s mining bitcoin a better allocation of capital vs. buying bitcoin?"
which method of bitcoin accumulation gives you the best return for your fiat tokens?
I’m not, well not if you have to pay for electricity. The protocol is literally striving to make the least efficient miners not profitable … and does it every two weeks.
If one does not have access to cheap electricity, one should not mine. Just allocate that capital to savings using bitcoin.
This tells me the “Andrew Sorkin”-types finally understand what bitcoin really is. Took them awhile (mostly hubris mixed with some ignorance) but now they see it and they’re terrified about what this does to their own livelihoods.
Who needs SquawkBox when you can just stack sats and stay humble?
So far miners have spent $15B+ on ASICs, Bs on development costs, $1B/year electricity cost all for the chance to be awarded some of this “thing.” The fact that they think this “thing” has value has set its value at $52k … without 99% of the world participating. The miners (with their investments) and the other voluntary participants in the network are what sets the value of bitcoin and protects it from attacks.
Also, bitcoin mining is impossible to stop: China, the most successful authoritarian government tried to ban bitcoin mining in 2021 and they’re still the 2nd biggest country by hashrate in the world.
also every time i try to type two letter words that start with the letter "I" II autocorrects to II ... doesn't matter the word: II II II II II
Narrator: “It wasn’t that important.” nostr:note1ugvrty322vs8y3s7ykdujk3q6ltqrqyn75jxy3fcy8dhk00sv7aq70qwr0
maybe those $1M/bitcoin predictions weren't totally whack
My use case is getting rich and becoming free. Put that in your pipe and smoke it Jamie and SquawkBox. nostr:note12udr569sdlly3mszganm3nle4r72rfeheu0csl6r4qjycmmdtatqf0u5t2
If we want to “solve climate change” or “cool the planet” just raise interest rates to 50% and reduce consumption globally.
The solution is pretty simple and they choose not to do it. That’s how I know this isn’t about the climate.
//
Scientists Resort to Once-Unthinkable Solutions to Cool the Planet https://www.wsj.com/science/environment/geoengineering-projects-cool-planet-weather-f0619bf7?reflink=integratedwebview_share