From 100,000 to 70,000, who is really controlling Bitcoin? $BTC

Bitcoin has once again performed a high-altitude dive, dropping from 100,000 to 70,000, with a total liquidation of 30 billion across the network. But are price fluctuations really Wall Street cutting the grass? Don’t be naive; the real puppet masters are the mathematical tyrants in the code and the power hegemony of North American miners.

1. Mathematical Tyrant: If it doesn’t rise, it dies, Bitcoin’s ‘suicide gene’

Satoshi Nakamoto buried a timed nuclear bomb in the code: every 4 years, miner wages are cut in half. In 2024, miners will earn 3.125 coins for mining a block, which isn’t even enough to pay for electricity. What to do? Force the coin price to double! But when the price rises, global computing power becomes even crazier, and costs soar to 90,000 USD per coin, while miners curse and become slaves to the code—if it doesn’t rise, the entire network will collapse immediately. It’s like your boss saying: “This year, wages will be halved, but you must inflate the company’s stock price, otherwise we will all be unemployed.”

2. North American Mining Barons: 38% computing power = 51% death threat

Bitcoin has been boasting about “decentralization” for 15 years, yet now 38% of computing power is controlled by the American mining pool Foundry. If the coin price drops another 20%, small miners will go bankrupt, and Foundry can immediately launch a 51% attack (alter transactions, freeze accounts, it’s even harsher than the Federal Reserve). Here comes the even crazier operation: the U.S. treats Bitcoin as a tool for the dollar. While providing subsidies to miners, it is also stuffing Bitcoin into national debt reserves. Mining barons dig with one hand and trade coins with the other, while keeping a close watch on the blockchain for the U.S. government—decentralization? This is called North American-style capitalism.

3. Ultimate Paradox: Either it rises to make gold kneel or collapses to resurrect Satoshi Nakamoto

Believers are still dreaming of “hitting 1 million,” and the logic is simple: miner wages are halved every 4 years, and the coin price must double every 4 years. By 2036, before wages go to zero, the market value must surpass gold by 10 times. But what happens when it really hits 1 million? Miners will have no wages, relying completely on the retail investors to cover transaction fees. Once transaction fees can’t support the mining operations, computing power plummets → hackers rejoice → consensus collapses → coin price goes to zero. A perfect closed loop, it can be called a “suicidal perpetual motion machine.” So don’t ask “who is controlling Bitcoin,” this thing is like a game of Russian roulette involving everyone: the gun is unloaded, but the one loading it is everyone.