@JoshMandell6 And falling hashrate means the security you're selling to sovereign institutions is quietly eroding underneath them.Bitcoin's architecture for settlement success is the same architecture that starves its security model.
@JoshMandell6 The core contradiction is this:
Settlement layers work precisely because they have few transactions. But few transactions means a thin fee market. And a thin fee market means underpaid miners. And underpaid miners means falling hashrate.
Bubble size reflects transaction value at postcode-sector level, with on-screen markers highlighting major market milestones and shocks, including the financial crisis, Help to Buy, the Brexit referendum, COVID lockdowns, the stamp duty holiday, and the mini-budget shock.
A 30-year animated race of UK counties ranked by rolling 12-month total house sale value.
Watch how Greater London, Greater Manchester, Surrey, Kent, Essex and other counties move through the dot-com crash, 2008 financial crisis, Brexit, COVID lockdown, stamp duty holiday.