I see models like this and I think to myself this is a good model for people who want to believe that things are orderly and quantifiable.
But the truth is that none of these models can predict dema...
My view is that mining cost follows the price, and price also follows the mining cost. They have a sort of equilibrium, dancing around each other over time.
If Bitcoin truly does go parabolic, it'll be because the hash wars have started and Bitcoin are extremely valuable strategically.
If the price alone goes parabolic it's unsustainable and will crash, if both the price and the cost to mind goes parabolic then it's hyperbitcoinization.
If Bitcoin truly does go parabolic, it'll be because the hash wars have started and Bitcoin are extremely valuable strategically.
If the price alone goes parabolic it's unsustainable and will crash, if both the price and the cost to mind goes parabolic then it's hyperbitcoinization.