If your home went up and you felt like you finally got ahead, I get it. The number really did climb.
But measured against the money supply, it barely moved. Priced in Bitcoin since 2012, it's down more than 99.9%.
Same house. The ruler just got smaller.
https://t.co/Nysg8FHBiZ
@JeffStanek1@gregandriano05 I hate that they totally ruined the rivalry (IMO of course) of my Yankees vs the Red Sox for me. Just another game. Doesn’t have that mid 00s feel.
Nothing special about it anymore.
You’re right that energy isn’t stored or redeemable. “Store of energy” is sloppy shorthand and you’re correct to swing at it. The energy is spent. It’s gone. L. Nobody’s converting a coin back to kWh.
But you’ve knocked down the wrong claim. Proof of work doesn’t store energy. It stores cost. What gets preserved isn’t the electricity, it’s the proof that real resources were irreversibly burned to produce the record. That’s the property. It’s called unforgeable costliness.
The reason it matters: you cannot rewrite Bitcoin’s history without re-spending an equivalent amount of energy in the present. The expenditure being gone forever is the feature, not the flaw. A cost you can claw back secures nothing.
This person is correct that it’s not a battery. It was never supposed to be one. It’s a record anchored to a cost that can’t be faked, and that’s a harder property than “stored energy” ever was.
@xavieriturralde@ruuted@scottmelker I am half Colombian.
It’s the real football.
I love American football more than soccer but it should really almost be called something like hand egg ball lol
A limited supply bit that you can’t fake because of proof of work.
If someone doesn’t want to buy that and be left with fiat (or gold that still inflated your holdings) that’s fine.
The fiat monetary system is forced upon you, nobody is forcing you into Bitcoin.
Have fun watching from the sidelines.
One trillion seconds ago, Manhattan was buried under a thick layer of ice (roughly 31,710 years back, near the Last Glacial Maximum)
So just three words apart, we jumped from “last week” to “before human civilization.”
Now scale up.
Bitcoin’s security rests on SHA-256. The 256 refers to orders of magnitude. The actual size of the space is 2 to the 256th power, which spelled out is:
115 quattuorvigintillion 792 trevigintillion 89 duovigintillion 237 unvigintillion 316 vigintillion 195 novemdecillion 423 octodecillion 570 septendecillion 985 sexdecillion 8 quindecillion 687 quattuordecillion 907 tredecillion 853 duodecillion 269 undecillion 984 decillion 665 nonillion 640 octillion 564 septillion 39 sextillion 457 quintillion 584 quadrillion 7 trillion 913 billion 129 million 639 thousand 936.
That’s an absolutely massive number. Far larger than the number of atoms in the observable universe. The human brain literally cannot make sense of it.
Brute force attacks against 256-bit keys will stay infeasible until computers are built from something other than matter and occupy something other than space.
One trillion seconds ago, Manhattan was buried under a thick layer of ice (roughly 31,710 years back, near the Last Glacial Maximum)
So just three words apart, we jumped from “last week” to “before human civilization.”
Now scale up.
Bitcoin’s security rests on SHA-256. The 256 refers to orders of magnitude. The actual size of the space is 2 to the 256th power, which spelled out is:
115 quattuorvigintillion 792 trevigintillion 89 duovigintillion 237 unvigintillion 316 vigintillion 195 novemdecillion 423 octodecillion 570 septendecillion 985 sexdecillion 8 quindecillion 687 quattuordecillion 907 tredecillion 853 duodecillion 269 undecillion 984 decillion 665 nonillion 640 octillion 564 septillion 39 sextillion 457 quintillion 584 quadrillion 7 trillion 913 billion 129 million 639 thousand 936.
That’s an absolutely massive number. Far larger than the number of atoms in the observable universe. The human brain literally cannot make sense of it.
Brute force attacks against 256-bit keys will stay infeasible until computers are built from something other than matter and occupy something other than space.
It’s insane how over complicated people can make buying Bitcoin around these levels.
And that’s coming from someone who draws lines and looks at chart patterns 😂