Satoshi said in an email: “The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.”
The bitcoin price today is far below production costs. Probably a good time to stack.
TEB2048 / Pleb34
npub13j…zppfu
2024-05-02 16:50:14
in reply to nevent1q…4jvz
Author Public Key
npub13j8z3jsnyj70xewlw3r9dp4kv5dl0ccftv2x7fyl3v7v3zy76apqdzppfuPublished at
2024-05-02 16:50:14Event JSON
{
"id": "74d03fa0250a177f350f0dd2c780a949a2a237f24122bd9f5b46f856d368e288",
"pubkey": "8c8e28ca1324bcf365df74465686b6651bf7e3095b146f249f8b3cc8889ed742",
"created_at": 1714661414,
"kind": 1,
"tags": [
[
"e",
"493cf3e802263f7492ec8fc0c07fca9342407b6ad4229df88f0a310aa60a60ce",
"wss://a.nos.lol",
"reply"
],
[
"p",
"d5415a313d38461ff93a8c170f941b2cd4a66a5cfdbb093406960f6cb317849f"
],
[
"e",
"493cf3e802263f7492ec8fc0c07fca9342407b6ad4229df88f0a310aa60a60ce",
"wss://a.nos.lol",
"root"
]
],
"content": "Satoshi said in an email: “The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.”\n\nThe bitcoin price today is far below production costs. Probably a good time to stack.",
"sig": "debded17e6c42c4f1be0404904a124cf37ec1c2d16e1fda86ddceac734b08d322d9b5038fdf5b48d2a8df8463ba4043ab8b6925b078a5f5f8d29ce3d629cdd42"
}