BTCMeansFreedom4All on Nostr: It's an equilibrium. Price follows mining cost and mining cost follows price. It's a ...
It's an equilibrium. Price follows mining cost and mining cost follows price. It's a dance. The 2021 Bull run was cut short primarily because of the China mining ban which reduced the cost to mine significantly and the price couldn't be supported at a level so high compared to the mining cost.
Published at
2024-10-31 15:48:16Event JSON
{
"id": "dffa4047631723962a9161c1fa56f574285bfd39b0abd0d1180d41ec2491d777",
"pubkey": "b7cfd472ff903441ec6cd55bb506f9744211a6e68e52525d42445169bda03f5a",
"created_at": 1730389696,
"kind": 1,
"tags": [
[
"p",
"fad6540c8f2fd2a16a25d0d82dd95d3bad7890d435d1690848a0a77d2883a447"
],
[
"e",
"a854d0580a9cd62ca283ac74486e4f75c3a36f499d90bd43f396b78fc4f68a4d",
"wss://relay.damus.io",
"root"
]
],
"content": "It's an equilibrium. Price follows mining cost and mining cost follows price. It's a dance. The 2021 Bull run was cut short primarily because of the China mining ban which reduced the cost to mine significantly and the price couldn't be supported at a level so high compared to the mining cost. ",
"sig": "a577033208fd873b6c2651898e2cc1e5c549a1bb4a1f74f15bd1f0bb4a55b5c781f2c0a10c3acf16f3832507ceba97d7aef7d0ee12732da8b7fc53a96781ca18"
}