Category: Bitcoin
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Bitcoin Mining Economics Simplified
This article was originally published in Bitcoin Magazine The Privacy Issue. Bitcoin mining is a competitive industry where profitability hinges on understanding and managing various factors including power cost, hashprice, BTCUSD, network hashrate, hardware costs, efficiency, and more. One of the simplest yet most crucial metrics miners use to gauge their efficiency and profitability is…
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Strategic Bitcoin Reserve
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This is a transcript from YouTube for the Trump speech at Bitcoin 2024. I have NOT checked to make sure it is 100% accurate. I am sure there are some mistakes. My spot check confirms it looks correct but that is not enough for any academic purpose. I plan on sharing thoughts on what is…
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Expanding Hashpro(phet)
Over the weekend, I expanded my research on Hashpro(phet). While the line charts are informative, I wanted a comprehensive view of hashprofit in a large table format to identify potential risks in hashrate and price. To achieve this, I used the same S19j Pro 96t machine and created a table showing hashprofit versus hashrate and…
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Hashpro(phet)
Post-halving mining has been extremely challenging for many of us small-scale miners. Many have shut down their machines to weather the storm, hoping that BTCUSD will rise and drive up the hash price. However, things look bleak as we are in peak summer, with no signs of a significant hash price increase. We are left…
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Laser Eyed Larps
Last week, the US Senate voted to overturn an SEC Accounting Bulletin1 that prohibited banks from custodying digital assets. This decision directly opposes the platform of Senator Warren2 and President Biden3, who are staunchly against cryptocurrencies. This bipartisan victory4 in the Senate is intriguing because it demonstrates that crypto is an issue that transcends party…
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Ordinals Unleashed
Bitcoin, Not Blockchain Bitcoin, not blockchain. This has been a prominent meme throughout the past two epochs, guiding noobs towards a Bitcoin-only way of life, away from the fraudulent “cryptos” promising greater “blockchain tech”. Yet, here we are, more focused than ever on the blockchain. But this time it’s different: The whole world has a…
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Long Live The Degens: The Battle for Attention Between Bitcoin Magazine & Swan Bitcoin
Over the past year, a battle for attention has erupted on Bitcoin Twitter between two prominent players in the media game: Bitcoin Magazine and Swan Bitcoin. While both companies are deeply embedded in the Western Bitcoin ecosystem, their different monetization strategies and ethical stances have led to a noticeable division among Bitcoiners. This divide, intensified…
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Fifth Epoch Prophecies
This post was featured on Bitcoin Magazine → This post was featured on Zero Hedge → Updated on 6-10-2024 to include a Stablecoin market cap prophecy. Death and taxes and 21 million Bitcoin. That is what we know to be certain. The rest is conjecture. Today I wanted to share my big bets on the…
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Pick Your Poisson
This article was originally published at Bitcoin Magazine in The Halving Issue. Calculated probabilities were calculated by Greg @ learnmeabitcoin.com Block 840,000 is not just another block in the blockchain; it triggers the Bitcoin halving where the block reward is reduced from 6.25 BTC to 3.125 BTC, cutting the amount of BTC mined each day…
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The Blocks Tell A Story
As I write this, we are 605 blocks away from the next Bitcoin Halving. This epoch has been tumultuous, marked by the COVID-19 pandemic, economic stimulus checks, mandatory vaccinations, the Russia-Ukraine conflict, a shift in Chinese mining operations, and a record-setting Bitcoin price. Through it all, Bitcoin has continued to operate as designed. In my…
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Soulbound
An unseen battle of cosmic proportions, the very essence of our being is at stake. The forces of darkness, led by the ruling elite, are seducing us with earthly riches, alluring us into relinquishing something far more precious than materialism—our soul. These dark agents work to oppress and enslave, hoping to weaken our spirits and…
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Mining In This Epoch
It has been an insane epoch for Bitcoin mining. We saw a revolution in ASIC efficiency, new entrants in hardware, the Great Hashrate migration and Chinese Exodus, liquid/immersion technology became a thing, firmware maturity, mining farm management software, new pools, nation-states hashing, Pubco’s rage, and so much more. The Hashprice and Hashrate chart is one…
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The Horses In The Stables
After 3 years at Bitcoin Magazine I still struggle in articulating how dollars are created and “Why is it so difficult to understand?”. It is designed complex precisely so you won’t be able to understand it. It is a boring topic, something you couldn’t possible be interested in, and so complex that only economists can…
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The Long Boys
No one is longer than miners. The Great Mining Ban in China, the Exodus of Hashrate to North America, Next Generation ASICs, Liquid + Immersion Tech, Pub Co.’s leveraged expansion… this is remarkable. As a small scale miner, you don’t have a lot of things in your control. Really the only thing you can secure…
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To Dust You Shall Return
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Consider a doomsday scenario. You spend the past couple years diligently dollar cost averaging and withdrawing to your wallet. You have a ton of small UTXO’s and bitcoin transaction fees rise so much that your bitcoin turns into dust. You’re now unable to spend your bitcoin. For some bitcoin users, this is not a doomsday…
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Pricing Out Inscriptions
The battle for the future of Bitcoin is raging in real time on twitter as we are on the cusp of global economic contraction, thanks to 50+ years of the USD fiat regime, and are eagerly waiting for the approval of a spot Bitcoin ETF by the SEC. Yet, in the trenches on Twitter, the…
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Brian’s Big Bags
What is the dollar amount where the Banking Cartel starts asking tough questions like “Who’s holding the bag?” and ” Who’s holding our coins?” As we are near the approval of the ETF, I can’t help but wonder to myself “Who’s carrying the bags?”. And while everyone on Twitter seems to be ETF experts and…
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Then They Fight You
All great revolutions encounter resistance as social change moves its way through the people. This can happen gradually then suddenly, but resistance will be there. People do not easily change their world views. We (Americans) are about to experience the next chapter in the great monetary war, by way of a Bitcoin ETF approval. This…
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70602
Freedom technology is freedom technology. It is free and open source. It is freely distributed. It is free for all to access, use, and remix. Freedom is inevitable. Unfortunately, our world is ruled by evil men who want to enslave us and prevent us from our God given sovereignty. Thankfully there are rebels out there,…
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So You Call Yourself A Bitcoin Maximalist
So you call yourself a Bitcoin Maximalist? What kind of Bitcoin Maximalist are you? Are you a Monetary Maximalist or a Blockspace Demand Maximalist? Choose Wisely Purity Tests are helpful, especially if you are the one conducting them. Other times, they might feel harmful or even cringe. At this very moment we are seeing purity…
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Hash Recon
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This article was originally published in The Primary Issue of Bitcoin Magazine. We’re less than 30,000 blocks out from the halvening and the table stakes couldn’t be higher. For many Bitcoin mining operators, this will make or break the bets they’ve made during this bitcoin epoch. Did I grow too fast? Can I handle a catastrophic drop…
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Trump, Tucker, and Bitcoin: A Winning Ticket for America
Trump and Tucker might not explicitly support Bitcoin, but their political views align very much with that of many Bitcoiners. If you want to trigger the establishment right and left in American politics, mention these two names together and see what happens: Donald Trump & Tucker Carlson. Now run the mental model of a Trump-Tucker…
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The Pursuit Of Satsflow
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This article was originally published in The Withdrawal Issue of Bitcoin Magazine. This article is written as of block height 789,088, using a BTC price of $30,000, and $0.065 kWh for the modeling. The number one question everyone inevitably asks themselves is: How could I possibly outperform bitcoin? You will not find a single answer,…
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Outsmarting the State
How many people work at the Federal Reserve? And how does their work translate into USD? With AI in the mix, the brainpower per dollar should go up. More computational power used by the Fed should mean higher dollar value, or something like that. If you believe AI is running things at the Fed, then…
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The Complex Dynamics of Bitcoin Hash Rate and Price
Bitcoin has recently experienced a surge in its hash rate, reaching a new all-time high (ATH) with an astonishing 500% increase since 2021. Interestingly, the price of Bitcoin remains down by 50%, challenging the conventional belief that the price follows the hash rate. This essay aims to explore the intricate relationship between hash rate and…
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Demystifying Hashprice
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This article was originally published in The Gatekeepers Issue of Bitcoin Magazine. “There’s things you know, and there’s things you don’t know, and there’s things you know you don’t know, and there’s things you don’t know you don’t know” – Socrates The most important bitcoin metric you don’t know or understand is hashprice and today…
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Building Blocks
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This article was originally published in The Broke Issue of Bitcoin Magazine. Welcome to Bitcoin, a peer-to-peer electronic cash system that prevents double-spending with a decentralized network where new coins are made from proof-of-work without a centralized mint or trusted third parties. This guide helps you discover how miners build blocks for the Bitcoin blockchain,…
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Geocooled Mining
As Bitcoin mining continues to flourish in the US, miners will continue to seek out and utilize cheap or stranded energy. Many miners have found opportunities in West Texas, but the harsh environment brings many challenges, namely how to deal with the heat of the harsh landscape. Up to this point, miners have found clever…
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Fellow Frogs
This post was originally published on Citadel21 in Vol.21 Fellow Frogs, As we continue our march towards freedom and encounter “the next great thing”, a crisis looms — the Federal Reserve system is crumbling around us. It is imperative to remain steadfast in our ways and stay true to what we hold dear: truth. We…
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The Firmware Triangle
2022 was a great year of humbling for bitcoin miners of all sizes. We saw industrial-scale miners go belly up and get bailed out, while (we) small-scale miners stood in the trenches seeking efficiency wherever it could be found, even if that meant radically reducing hashrate. This short article shows a small window in market…
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Moving The Needle On Hashprice
Since no one is making money mining right now (speaking for myself) let’s run some numbers. Hash Price is all the rage right now (in a masochistic way) so what change in BTCUSD is needed to move the needle? First definitions: TH: terahash, the hashing unit on modern asics Network Hashrate: I am using 24hour…
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Hashing The High
This article was originally published in The Orange Party Issue of Bitcoin Magazine. “Hashing the High” offered a fascinating glimpse into Bitcoin’s hashrate during its peak in 2022. The infographic aimed to visualize the hashrate by measuring the energy consumption of the entire network if it relied solely on Bitmain Antminer S19j Pro 100T ASICs.…
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Stack Sats, Not Hash… For Now
Over the past couple of weeks, several friends have asked me about buying an ASIC. They have been casually watching the markets and are seeing the price of machines begin to fall. Typically, ASIC prices lag behind BTC price adjustments by 3-4 weeks, especially when the price falls. When prices rise, ASIC distributors are much…
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Lightning Network and Email Newsletters
Bitcoin is disrupting everything… if you think email marketing won’t be disrupted then you can GTFO. Time for some #reckless thoughts. Traditional email marketing has a couple different key metrics. Open rate, click rate, lead gen, subscribe rate, unsubscribe rate, are some of the most important. Influencers, brands, or anyone managing a big list are…
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The Bitcoin Diaspora, a Confederation of Tribes
Introduction “There is no Bitcoin community” – Everyone This is the battle cry of true-believers and deniers alike. There is no CEO, PR, or speaker for Bitcoin. Bitcoin is decentralized, so there is none of that. So why do people get triggered so easily when people utter the phrase “Bitcoin community”? Surely there is something,…
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Bitcoin Layers
The past few weeks there have been several good threads about Bitcoin’s scaling layers. Two camps have emerged as they try to define the stack. While this has no real implications and the market will ultimately decide on the best way to define layers, I wanted to put a post together to show the two…