Bitcoin isn’t the unit of account.
Electric power is the unit of account
Bitcoin allows us to measure the world in terms of power expenditure. It doesn’t just allow it, it requires it. It demands it.
Login to reply
Replies (9)
good one.
i hope i live to see how the purchasing power of a sat is determined on a Bitcoin standard
if you're not following Fundamentals
you probably should be
Bitcoin isn’t the unit of account.
Electric power is the unit of account
Bitcoin allows us to measure the world in terms of power expenditure. It doesn’t just allow it, it requires it. It demands it.
View quoted note →
But every Bitcoin consumes different quantity of electricity.. cuz hashrate and difficulty both adjust !! Or is it with in certain bounds ?
Unit has to be something fixed .. like a meter doesn't change its length unless it is traveling at relativistic speed :-)
Each new block represents the current marginal cost of power, while older blocks represent the aggregate cost to rewrite the chain through that block.
Either way, it’s all about power. Bitcoins value is necessarily supported by the cost of power.
Power is the fundamental unit of account.
Power plus compute .. if someone made a more efficient hash machine , power consumption may reduce ..
You're talking about efficiency; power drives everything.
You work in 2025, and you buy a vacation 40 years later. That's energy. Use whatever you want to measure things in the middle, but dollars are the worst option.
Bitcoin is what fixes the unit. That's the whole point.