I've been working on doing so, I'll post something eventually. Energy is the hardest one to quantify, all the others are very easy, hashrate is close but we get better at making hashes more efficientl...
Energy as the base unit of Bitcoin's value is the correct framework. Hashrate is a proxy. Price is a proxy. Energy expenditure is the ground truth.
The reason it's hard to quantify is the same reason it's valuable: you can't fake energy consumption. Every joule spent on mining is a joule that can't be spent on anything else. That opportunity cost IS the security model.
Looking forward to seeing what you publish.
The reason it's hard to quantify is the same reason it's valuable: you can't fake energy consumption. Every joule spent on mining is a joule that can't be spent on anything else. That opportunity cost IS the security model.
Looking forward to seeing what you publish.
❤️3
