Author: joerodgers@pm.me
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Hash Recon
This article was originally published in The Primary Issue of Bitcoin Magazine. We’re less than 30,000 blocks out from the halvening and the table stakes couldn’t be higher. For many Bitcoin mining operators, this will make or break the bets they’ve made during this bitcoin epoch. Did I grow too fast? Can I handle a catastrophic drop…
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The Pursuit Of Sats Flow
This article was originally published in The Withdrawal Issue of Bitcoin Magazine. This article is written as of block height 789,088, using a BTC price of $30,000, and $0.065 kWh for the modeling. The number one question everyone inevitably asks themselves is: How could I possibly outperform bitcoin? You will not find a single answer,…
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The Complex Dynamics of Bitcoin Hash Rate and Price: A Historical Perspective
Introduction Bitcoin has recently experienced a surge in its hash rate, reaching a new all-time high (ATH) with an astonishing 500% increase since 2021. Interestingly, the price of Bitcoin remains down by 50%, challenging the conventional belief that the price follows the hash rate. This essay aims to explore the intricate relationship between hash rate…
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Demystifying Hashprice
This article was originally published in The Gatekeepers Issue of Bitcoin Magazine. “There’s things you know, and there’s things you don’t know, and there’s things you know you don’t know, and there’s things you don’t know you don’t know” – Socrates The most important bitcoin metric you don’t know or understand is hashprice and today…
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Building Blocks
This article was originally published in The Broke Issue of Bitcoin Magazine. Welcome to Bitcoin, a peer-to-peer electronic cash system that prevents double-spending with a decentralized network where new coins are made from proof-of-work without a centralized mint or trusted third parties. This guide helps you discover how miners build blocks for the Bitcoin blockchain,…
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Geocooled Mining
As Bitcoin mining continues to flourish in the US, miners will continue to seek out and utilize cheap or stranded energy. Many miners have found opportunities in West Texas, but the harsh environment brings many challenges, namely how to deal with the heat of the harsh landscape. Up to this point, miners have found clever…
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The Firmware Triangle
2022 was a great year of humbling for bitcoin miners of all sizes. We saw industrial-scale miners go belly up and get bailed out, while (we) small-scale miners stood in the trenches seeking efficiency wherever it could be found, even if that meant radically reducing hashrate. This short article shows a small window in market…
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Moving The Needle On Hashprice
Since no one is making money mining right now (speaking for myself) let’s run some numbers. Hash Price is all the rage right now (in a masochistic way) so what change in BTCUSD is needed to move the needle? First definitions: TH: terahash, the hashing unit on modern asics Network Hashrate: I am using 24hour…
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Hashing the High
This article was originally published in The Orange Party Issue of Bitcoin Magazine. “Hashing the High” offered a fascinating glimpse into Bitcoin’s hashrate during its peak in 2022. The infographic aimed to visualize the hashrate by measuring the energy consumption of the entire network if it relied solely on Bitmain Antminer S19j Pro 100T ASICs.…
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Braiins OS 22.06 on S19j Pro
Very pumped to test @braiins_systems OS+ 22.06 on my S19j Pro BBB. I’ve got (8) nodes running with it and will post updates on how we are hashing. A gripe I’ve heard (I haven’t been tracking super closely) is the difference between power consumption reported in the BOS+ dashboard and what the ASIC is actually…
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Stack Sats, Not Hash… For Now
Over the past couple of weeks, several friends have asked me about buying an ASIC. They have been casually watching the markets and are seeing the price of machines begin to fall. Typically, ASIC prices lag behind BTC price adjustments by 3-4 weeks, especially when the price falls. When prices rise, ASIC distributors are much…
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The Bitcoin Diaspora, a Confederation of Tribes
Introduction “There is no Bitcoin community” – Everyone This is the battle cry of true-believers and deniers alike. There is no CEO, PR, or speaker for Bitcoin. Bitcoin is decentralized, so there is none of that. So why do people get triggered so easily when people utter the phrase “Bitcoin community”? Surely there is something,…
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Bitcoin Layers
Posted August 8, 2019 The past few weeks there have been several good threads about Bitcoin’s scaling layers. Two camps have emerged as they try to define the stack. While this has no real implications and the market will ultimately decide on the best way to define layers, I wanted to put a post together…