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Yup The problem with BTC going down is that it's a double whammy of not only BTC going down but also the cost of its shovels going up Before: BTC pays $100k b
by raverbashing 6mo ago
Yup
The problem with BTC going down is that it's a double whammy of not only BTC going down but also the cost of its shovels going up
Before: BTC pays $100k but a shovel costs $300
Now: BTC pays $70k but a shovel costs $$??
Bitcoin asked the right questions but came back with the wrong answers
- andai 6mo agoWhat's a shovel?
- metrix 6mo agoThey're using the analogy of mining for gold. the cost of a shovel/pitchfork goes up when the price of gold goes down - which is a double whammy
- shlant 6mo agoyou didn't answer the question. A shovel in this case is the equipment + energy needed to mine (GPU's etc.)
- raverbashing 6mo agoWhich is pretty much obvious to anyone who has heard of bitcoin in the year of our lord 2026 Especially since the "sell shovels during a gold rush" has been used to apply to nVidia
- latexr 6mo agoBut the person upstream hasn’t. It’s not obvious to them. Which is why a good answer has to include the detail.