$75/MWh is near the top of the threshold for mining profitability today. Any miner operating in an area with orange and red dots on this map is likely not running with prices this high unless they're off-grid or have a unique power contract.
Did the Unites States' attack on Iran affect bitcoin hashrate?
If it did, it was likely marginal. The bigger driver is the Summer kicking into full gear in the US and miners shutting down to divert electricity supplies to residential consumers.
These properties make it a great liquidity hedge - it is liquid when you need it to be and other things aren’t.
This use case is shining today. People are preparing for market open tomorrow and getting as liquid as possible. Bitcoin is the only market trading over the weekend.
Considering the gravity of the situation and the amount of capital that is likely moving behind the scenes, bitcoin hovering right below $100k is highly encouraging. May still go a bit lower, but the dip will be temporary.
Bitcoin’s feature set is growing in demand at an accelerating pace.
Having @OppCostApp downloaded and in bitcoin-only mode for over a month has led me to do an internal audit of our software expenses at @TFTC21. We've canceled 5+ subscriptions so far.
Forcing myself to think in sats is going to have positive effects on the business long-term.
- Japan admitted their debt is unsustainable - Ukraine hit Russia with a drone attack - Tariff data came in better than expected - CPI lower than expected - Closest to overt WWIII we've ever been
Bitcoin price is where it was 30 days ago. Very bullish IMO.
Things aren't as bad as the algo would lead you to believe. They're not great, but they're not that bad.
It's never been easier to take agency over your own life via tools like bitcoin and AI. They won't solve all of your problems immediately, but if you put in the work you'll be pleasantly surprised with the results.
We're living through a period of insane productivity gains that can be matched with the hardest money that has ever existed.
Internalize this, take action and combine the two.
The only tried-and-true strategy within bitcoin over the long term is to stay humble, stack sats, and hodl like you are "the man in the coma" or the man who was thrown in a cage.
If only there was a neutral distributed monetary protocol immune from the whims of powerful people. Seems like it would be a great thing to have during these volatile times.