We need to get vaccinated against vaccines.

#btc #bitcoin JUST IN: Michael Saylor's 'Strategy' has approved selling $1.25B worth of Bitcoin He doesn’t have to, but he can.

#bitcoin #nostr #extinction

#bitcoin #btc #ai This time, bitcoin miners won't come back Jun 26 for 15 years, bitcoin's difficulty adjustment has been its immune system. it only heals the network if the miners come back. in 2026, they finally have somewhere better to go. hashrate is falling, machines are going dark. we've been here before. in october 2025 hashprice, the daily revenue a miner earns per unit of computing power was around $52. by late february 2026 it was $28, the lowest in 5 years. bitcoin now trades under $60k while the average all-in cost to mine a coin is near $70k, which means the typical miner is $10,000 underwater on every coin produced. on june 14 difficulty fell 10% in a single adjustment, one of the eleven biggest downward moves in bitcoin's history. something like a fifth of the network's computing power has switched off since the october peak. if you've watched a bitcoin cycle before, you know that's the classic behavior. and for 15 years, it's been right. why it worked bitcoin has a thermostat. every 2,016 blocks, about two weeks, the network retargets how hard it is to mine, aiming to keep blocks landing every ten minutes. when miners switch off, blocks slow down, and at the next adjustment difficulty drops to match the smaller network. every machine still running suddenly earns a bigger share of the same rewards. margins for the survivors recover. the bleeding stops on its own. the cleanest proof is july 2021. china banned mining and half the global hashrate vanished in weeks. difficulty fell almost 28% in one adjustment, still the largest drop ever recorded. within months the network had fully recovered, because the banned machines didn't die. they got on boats, found cheaper power in texas and kazakhstan, and switched back on. the thermostat did its job. Image when difficulty falls, survivors earn more, the network heals. it has happened every cycle. this time will be different the thermostat only heals the network if the machines come back. every recovery in bitcoin's history runs on the same premise: a miner who powers down is pausing, not quitting. the rigs sit in a warehouse waiting for difficulty to fall or price to rise, and when it flips green they hum back to life. but in 2026 the machines are ripped out. galaxy didn't idle its helios site in texas, it physically removed the miners, took the write-down, and handed the building to an ai cloud on a fifteen-year lease. Image core scientific's ceo calls his own mining operation "in runoff." bitfarms renamed itself keel and said "we are no longer a bitcoin company." these aren't pauses. they're 15-year, take-or-pay contracts, financed 75-85% by project debt, poured into liquid-cooled halls built for gpus that can't mine bitcoin. the power that left isn't waiting in a warehouse. it's gone, on paper, into the 2040s. in 2021 the hashrate went on boats. in 2026 it's going into concrete. a miner was never a bitcoin business to see why, you have to be honest about what a bitcoin miner actually is. it was never really a bitcoin company. it was a leveraged bet on cheap, energized power, a business that turned electricity into hashes because, for a decade, hashing was the most valuable thing you could do with a stranded megawatt. that is no longer true, and it's not close. mining earns roughly $80 to $150 per megawatt-hour. ai compute pays $1,600 to $4,000 for the same megawatt-hour. an ai hosting contract throws off $1.5-2 million per megawatt per year at 80-90% margins, against a mining business whose gross margins collapsed toward single digits this year. when a buyer shows up offering ten to twenty-five times your revenue per unit of the one thing you actually own, power, you sign directly. and they signed. over the past year the public miners have contracted something like $110 billion of power to ai, about six gigawatts, roughly a tenth of every ai data center under construction in america. bernstein stopped calling them miners. it calls them "the power landlords of ai." the wrong winners this inverts the whole capitulation story. the operator everyone celebrates, disciplined, low-cost, still mining, is earning a thin spread on a falling asset, collecting a bigger slice of a shrinking pie. the operators who "capitulated" signed the richest contracts in the industry's history and got re-rated for it: miners with ai leases trade around twelve times forward sales, the pure hashers at six. public miners change hands near $3 million per megawatt; private data-center power closes near $8 million. to fund the switch, public miners sold a record 32,000 bitcoin in the first quarter alone. the thermostat is still doing its mechanical job, difficulty fell, the survivors' margins improved. but it's healing a network the best operators are walking away from. the field isn't consolidating around the strongest miners. the strongest miners are leaving. the bill comes later here's why that matters beyond this cycle. for 15 years the difficulty adjustment let bitcoiners wave away every scare with "it always recovers." it did, because mining was always the highest-value use of cheap power, so the capacity always came back. take that away and everything falls. it numbs each squeeze while the network's best capacity migrates somewhere it won't return from. transaction fees are about 1% of miner revenue today, down from 7% in 2024. the block subsidy, 99% of what pays for security, halves again in 2028. for the dollar value securing bitcoin to merely stay flat, the price has to roughly double every cycle. that was already a demanding ask. now mining has, for the first time, a richer bidder competing for its oxygen, paying 20 times more for the same megawatt. justin drake calls it a ticking time bomb; peter todd thinks it ends in permanent mining centralization. the field doesn't clear. it changes hands. capitulation is here, and it still looks like a collapse: dark racks, falling charts, miners dumping coins. the mechanism underneath is as orderly as ever. but the conclusion everyone draws from it, don't worry, it always comes back, is expiring, because for the first time the capacity that leaves has somewhere better to be. AI pays much better.

Monero is what many use for real currency.

Agreed. This is the fungibility problem. And when governments decide to weaponize this it will be a nightmare for bitcoiners.

1 BTC should equal 1 BTC that doesn’t resolve the fungibility problem though.

I am extremely peaceful also. So fucking peaceful I fart the word peace harshly.

More people are needed. Shutting down x “twitter” where the people are, is where bitcoiners and Nostr folk should be promoting Nostr, not talking here only in a tiny echo chamber. Promoting the decentralized platform like Snowden did back in the day is why I came. I don’t even like bitcoin. To me Monero is the only real currency.

#bitcoin #btc #satoshi And freezing tainted bitcoin that was used in criminal transactions. Might as well, that will make law abiding slaves richer right? 🤷🏻‍♂️

#58k #58kgang #bitcoin #btc #foreva #asknostr

London 2058 #bitcoin #coffeechain #immigration

#monero monero #xmr

#monero #xmr monero Don’t give up your privacy.