Why do we say that Bitcoin will definitely rise above 150,000 in a bull market?
7 out of 10 real bigwigs in the cryptocurrency circle are miners.
What do they mine? Naturally, they mine BTC.
Do you think mining means that people mine and sell, and then make a profit from the difference between electricity bills and coin prices?
NO NO NO, they just sell the cost of electricity bills and hoard the other coins.
They just hoard coins by mining, from small to big. 10 machines become 100 machines, and then become 10,000 machines.
It’s not that they sell after mining, turn it into money, and the money becomes so much.
Bitcoin will never allow such a high seigniorage.
Halving is actually to eliminate some backward miners.
This is very beneficial, allowing the coin price to rise higher.
Originally, a miner could mine 6.25, but now he can only mine 3.125.
Then those who have poor mining machines and high electricity bills will go bankrupt.
The coins they want to mine are mined by more powerful people. Let more powerful people dig more.
So the price of the coin is higher. Originally, they could pay the electricity bill by selling 0.8 BTC. At this time, because the price of the coin is high, they can pay the electricity bill by selling 0.4.
Then the coins sold will be less.
Then because it is a bull market trend again, they are more reluctant to sell, so the supply is further reduced, so the price rises higher. They sell less.
The less they sell, the higher it rises, and the higher it rises, the less they sell, double helix growth.
I heard someone say that the income of Bitcoin miners has decreased, and they have to rely on Bitcoin inscriptions and runes to increase the handling fee.
This logic is wrong.
You see, the increase in handling fees is just to make miners dig a little more. For example, miners can always dig a lot.
Then people with high electricity bills, poor mining machines, and poor production capacity will not go bankrupt. They will keep selling coins.
As long as they can make money, they will keep selling. Produce one coin and sell 0.9 coins. How can the price of the coin be increased?
So Bitcoin inscriptions and runes are just on-chain commissions collected by miners. They cannot increase the price of Bitcoin.
The logic of losing money by playing inscriptions and runes is that miners have a lot of pumping, which leads to faster losses.
Please note that I did not say speculation on inscriptions, I said playing inscriptions.
However, speculation on inscriptions will definitely increase the activity of playing inscriptions, and playing inscriptions can increase the on-chain handling fees.
This will increase the possibility of selling coins and increase selling pressure, so Bitcoin will rise more slowly.
Only when there are more buyers and fewer sellers, will the price rise higher and fewer sellers.
Because miners actually make money by hoarding coins for a long time. Not by high seigniorage.
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