"Time Preference”- 52nd Edition
FOMC / Mid Week Update

1. Full nodes (reachable): 23,602 (+6.82%)
2. LN nodes: 17,342 (-0.06%)
3. LN capacity (BTC): 5,706 (+7.82%)
4. BTC addresses > 1M sats: 12.758M (+0.13%)
5. BTC addresses > 10M sats: 4.49M (-0.03%)
6. BTC addresses > 100M sats: 975k (+0.02%)
7. Hashrate (EH/s): 931 (+2.39%)
8. Price: $76,323 (+10.61%) (yesterday’s close)
9. Price/Hashrate: 82 (+13.32%)
10. Michigan businesses accepting BTC (btcmap.org): 199 (+9.34%)

% change figures from previous edition *

We’ve got some momentum! I wasn’t far off last report, we ripped to 79.2k in about two weeks. Price action looks really good, IMO which stinks because I enjoyed accumulating cheap sats down here. $92k comes quickly it seems.

The real important stuff though is still addresses and businesses accepting bitcoin, thanks @Cash App and @jack - apparently a new business is accepting bitcoin every 8 seconds right now. We can keep arguing about the centralization aspect of this or how it’s taken is so long to get here or whatever else there is to argue about. At the end of the day, we can spend our bitcoin at significantly more places than we could just a couple months ago. Really exciting stuff in the journey to seeing Bitcoin transition to money.

Address counts over 1M sats are a hair shy of new all time high. I expect we breach that level come next report, no big deal though right?

Plenty of grifting at the conference for sure this week, but at the same time I’ve really enjoyed listening to some of the presentations and discussions online. Last night there was one with @ODELL discussing bitcoin as a sovereign tool - it was my favorite yet and I’d recommend checking it out if you haven’t already.

Cheers, everyone—have a great rest of the week!

#bitcoin #timepreference #mining #Einundzwanzig #michigan #LightningNetwork ⚡️
#stayhumbleandstacksats

Masters Week!!!

Nothing better honestly. Especially as a culmination to the most dreaded cyclical period of the year for me, mid Feb to early April. Excited for more sun, warm weather and golf.

#golf #masters #mastersweek

"Time Preference”- 51st Edition
Easter Sunday/Monday, Alleluia!

1. Full nodes (reachable): 22,096 (-11.79%)
2. LN nodes: 17,353 (-0.37%)
3. LN capacity (BTC): 5,292 (+3.94%)
4. BTC addresses > 1M sats: 12.74M (+0.74%)
5. BTC addresses > 10M sats: 4.49M (+0.38%)
6. BTC addresses > 100M sats: 975k (+0.06%)
7. Hashrate (EH/s): 954 (-8.55%)
8. Price: $68,999 (+2.68%) (yesterday’s close)
9. Price/Hashrate: 72 (+12.28%)
10. Michigan businesses accepting BTC (btcmap.org): 182 (+9.64%)

% change figures from previous edition *

Hiatus complete, it wasn’t perfect but in a positive light, I feel in a much better place today than I did Ash Wednesday. My goal is to let things come the rest of this year rather than force my hopes, wants and dreams.

On to the report - price has...checks notes… not fallen! It’s been a long time saying this but we’re slightly up in price over lent by 2.68%. It’s probably just me being antsy now but we look ready to rip to $80k here imo. Let’s see. Price/hashrate does look like it could’ve been (and still is) deep value. Up 12.28% in ~40 days.

The real star of the show though and will be for the next few reports is address counts and businesses accepting bitcoin! Addresses over 1M sats, my favorite metric, is SO CLOSE to setting a record high, previously at 12.60M in December 2023. 0.75% jump in 40 days! Businesses accepting bitcoin almost 10% jump in 40 days, thanks @Cash App @jack !?

Last couple things to keep an eye on are full node count dropping over 10% and hashrate almost 9%.

Cheers, everyone—have a great rest of the week!

#bitcoin #timepreference #mining #Einundzwanzig #michigan #LightningNetwork ⚡️
#stayhumbleandstacksats

"Time Preference”- 50th Edition (Ash Wednesday, see you next on Easter Sunday!)

1. Full nodes (reachable): 25,049 (+5.22%)
2. LN nodes: 17,417 (+0.26%)
3. LN capacity (BTC): 5,092 (-10.75%)
4. BTC addresses > 1M sats: 12.65M (+0.38%)
5. BTC addresses > 10M sats: 4.47M (+0.26%)
6. BTC addresses > 100M sats: 975k (-0.05%)
7. Hashrate (EH/s): 1,043 (+4.30%)
8. Price: $67,200 (+1.05%) (yesterday’s close)
9. Price/Hashrate: 64 (-3.11%)
10. Michigan businesses accepting BTC (btcmap.org): 166 (+6.41%)

% change figures from previous edition *

Taking a nice little hiatus during lent this year from all markets, news, social media and etc. wish me luck! Fortunately I have my faith, friends and family to guide me through finding new and more productive ways to spur dopamine in the brain :)

On to the report - price has fallen out the window in short time yet hashrate bounced back from the weather related event and we’re now sitting at what I’d like to consider DEEP value in my hashrate/price metric. 64 takes us back to October 2023 again. Caveat, although I do feel it’s take a loan out of the 401k value here, it usually takes time to grind out of this. In true time preference form, don’t expect a quick return, however the asymmetry is skewed quite favorably to be buying bitcoin here I think.

Also, address counts over .01 have a nice little chart forming. Very curious to see how that looks come Easter. It’s been since January 2024 since we set a record in that number but the smoothed trendline looks like we might take that high out and soon.

TLDR: stay humble and stack sats. Under the hood node counts, address counts and hashrate are churning and bullish. Enjoy the ride!

Cheers, everyone—have a great rest of the week!

#bitcoin #timepreference #mining #Einundzwanzig #michigan #LightningNetwork ⚡️
#stayhumbleandstacksats

"Time Preference”- 49th Edition (17th months later!)

Percentage changes are from the 48th edition (June 2024)

1. Full nodes (reachable): 23,806 (+30.48%)
2. LN nodes: 17,372 (+34.45%)
3. LN capacity (BTC): 5,705 (+14.01%)
4. BTC addresses > 1M sats: 12.59M (-0.10%) !!!
5. BTC addresses > 10M sats: 4.46M (-2.18%) !!!
6. BTC addresses > 100M sats: 975k (-3.60%) !!!
7. Hashrate (EH/s): 881 (+55.38%)
8. Price: $75,662 (+10.70%) (yesterday’s close)
9. Price/Hashrate: 85 (-28.76%)
10. Michigan businesses accepting BTC (btcmap.org): 156 (+1,460%)

% change figures from previous edition.

Wow, it’s been a minute! Lots to unpack here. The 17-month gap sheds light on where things stand today.

What’s awesome? Full node and LN node growth! It’s great to see more people participating in the network.

What doesn’t look great? Address counts. This doesn’t surprise me—I’m of the opinion we haven’t had a true bull market in years. You could argue for 2021, but a case could be made for going back to 2017 if you ignore price. Looking at addresses over 1M sats, there’s been no blow-up/blow-off action since then—just steady growth that’s turned stagnant or slightly declining over the last year and a half. That said, factors like Lightning adoption, SegWit, and price itself affect address counts. The bullish sign is that this smooth line is starting to trend up slightly (0.01 BTC address count) 👀

What’s wild? Hashrate—up 55%, despite a 20% drop in the last two weeks (weather-related? Miner capitulation?)—while price is only up 10%!!! This ratio of 85 has been a great buying opportunity in the past (e.g., September 2024 and Jan/Feb 2024). After all, it kinda feels like we could send this thing to zero anyway, doesn’t it?

Cheers, everyone—have a great rest of the week!

#bitcoin #timepreference #mining #Einundzwanzig #michigan #LightningNetwork ⚡️

GM - is the almost 20% drop in #bitcoin hashrate weather related? Anyone got a line here?