mykopikid's avatar
mykopikid
npub1rwep...q2h4
mykopikid's avatar
mykopikid 2 years ago
Is this a good representation of the bitcoin overview? image
mykopikid's avatar
mykopikid 2 years ago
Trying to figure out the relations between hash rate and price. Are they connected? I wondered if the following is sound: - When hashrate goes up, difficultly adjust and goes up. - when difficulty goes up, the cost of mining goes up. - when the cost of mining goes up, the price goes up. Is this correct?
mykopikid's avatar
mykopikid 2 years ago
Coffee: El Salvador Las Brumas Process: Washed Cafe: MyEspresso Cafe, Malaysia Brewing method: V60 Dosage: 16g Temperature: 92C Yield: 250ml Extraction time: 1.30min Taste: Sweet, citrus, smooth, clean
mykopikid's avatar
mykopikid 2 years ago
Money as a representation of value: Imagine you wake up everyday, expand your energy in a productive enterprise. 1. You make coffee, someone appreciate your coffee and exchange your coffee with a value. 2. You swept the floor for someone, they appreciate your work and exchange your hard work with a value. 3. Like David Beckham, you score a tremendous goal and bring a moment of joy to millions and they show their appreciation and you received millions in value. Now, imagine you must spend all the value in a single day else they degrade to nothing by tomorrow. Most will think that is horrible. But what if they degrade in a week? Or a year? Or 10 years? Would you prefer to store all the value into something that does not degrade? That is why gold has been a store of value for thousands of years. They can hardly degrade but their supply does gradually increase even though at a slow rate. But when you store them in fiat currencies, the degradation is a certainty. In Malaysia, the Ringgit has degrade over the past 12 years in the range of 30% - 100% depending on how you measure them. Bitcoin fixes this. Store your value in something that do not degrade.
mykopikid's avatar
mykopikid 2 years ago
Dosage: 19.2g Temperature: 92C for extraction Espresso output: 30ml Cup: 210ml Milk temperature: 60C
mykopikid's avatar
mykopikid 2 years ago
Bitcoin monetary system is audited every 10 minutes.