Bitcoin

the level of arrogance necessary to completely botch the "Ultrasound Money" economic forecast then brush if off and confidently claim to be able to forecast the long-term economics of PoW Bitcoin mining is honestly impressive

The security of Bitcoin PoW is a ticking time bomb.

Bitcoin fees are at a 13-year low—less than 10 BTC/day. Despite 2016, 2020, 2024 halvings, miner revenue from fees is at a 9-year low—just 1%.

low fees → low security budget → low security

Bitcoin's security model is https://t.co/tAnP0tEt3Q

Justin Drake

the level of arrogance necessary to completely botch the "Ultrasound Money" economic forecast then brush if off and confidently claim to be able to forecast the long-term economics of PoW Bitcoin mining is honestly impressive

https://x.com/drakefjustin/status/1928025981270519924?t=GGRQ3hTiImnbTjLM_RNxuQ&s=19

incentivizing things @ poidh.xyz - come chill /poidh + follow @poidhbot

Haha 😂 yes

A lot can happen a lot in 100 years…

Beauty matters - Wannabe Polymath. Interested in art, music, history, philosophy and faith.

> Bitcoin is founded on the idea that humans are bad at forecasting long term economic outcomes

> Justin Drake thinks he's smart enough to forecast long term economic outcomes and that's why Bitcoin will fail