Green
Stranded (unuseable)
Wasted (overbuilt hydro, gas flaring etc)
The best miners will setup + innovate on the above. They create a DIRECT non gov subsidised incentive to setup green, wasted or stranded energy capture and price out fossil
2/
@LindenJohan@kenoshaking What most critics fail to do is consider the problem beyond 'it uses lots of energy'.
Human have NO SHORTAGE of energy. We simply lack storage and TRANSPORT capacity over long distances.
Lots of energy, cant move it.
So we build energy near populations (consumers)
3/
@LindenJohan@kenoshaking Well Bitcoin will happily setup in Iceland over a geothermal vent with no energy transport needed except an internet connection.
Or next to a chinese hydro dam that was OVERBUILT and wastes the energy anyway.
or capture methane from oil fields that is vented or flared anyway
4/
@LindenJohan@kenoshaking The reality is, Bitcoin is the greatest, best and most reliable demand source for energy we have. A constant baseload that will naturally price out fossil fuels and incentivise the creation, research and build out of renewable and green tech.
Completely changes everything.
fin.
@LindenJohan@kenoshaking I should add, the importance of this being a free market and not government lead initiative is why it is so important.
Bitcoin forces the private sector to take green tech seriously, makes non viable projects viable and does so without government fuckery and inefficiency
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The #Bitcoin Taproot🌱Activation debate is fascinating to see it play out. Given it is quite a complex topic (Bitcoin governance), let me lay out how I see it and my perspective.
I may have elements wrong but this is my current and best understanding.
Thread👇
Premise:
The Taproot soft fork implements Schnorr signatures and additional output scripts that enhance privacy and functionality, especially for lightning and multi-sig setups.
Overall, the code is widely regarded as uncontentious, well constructed, reviewed and high quality.
Activation:
Code is fine, but how do you activate in a PoW rough consensus?
The goal is to have the whole network running compatible code, miners in particular, to avoid any chain-split potential.
2/ Decred launched into a developed 2016 GPU mining industry where it was dual mined by Ethereum miners.
A study following PoW mined coins supports anecdotal evidence that GPU miners dumped en mass 80% of their DCR.
Chart shows % of DCR income sold (solid) or hodled (dashed)
3/ Conversely, ASIC miners have invested around 25-30% into tickets. This trend has stabilised (yellow lines) showing that Decred miners have serious skin in the game.
That said, profitability has been challenging to obtain and as the next tweets show, few managed to break even.
There are so many bottom formation + undervaluation fractals at play for #Decred.
This thread covers some of the highest conviction on-chain metrics and the impressive alignment of direction.
Generational confluence on-chain.
Strap in 👇 1/
Miners: As covered in my last research paper, PoW $DCR miners have endured challenging conditions.
With unforgeable costs, PoW miners are known to 'Put the Bottom in'.
The cumulative PoW reward paid (USD) has entered a generational low fractal alongside difficulty squeeze. 2/
The Puell Multiple measures the current USD PoW income against the yearly rolling average.
Miners are long term thinkers and when incomes are challenged, the weak switch off their mining rigs and the reward coins are distributed to the strong.
2/ I establish fundamental reasons why I have studied #Decred further as a contractor as well as explain the similarities and differences between monetary policies.
I conclude that in the realm of digital, immutable, sound money, both #Bitcoin and #Decred are best in class.
3/ Undertaking regression analyses for $DCR, $BTC and $LTC over multiple timescales, I present stock-to-flow models for all three assets.
#Bitcoin continues to impress, R2 = 0.90 #Bitcoin at age 3.67 has R2 = 0.66 #Decred at age 3.67 has R2 = 0.70 #Litecoin no valid fit R2<0.5