Wendler 5/3/1 chart for powerlifting! Enjoy! https://image.nostr.build/1652793292142c0c2e6278f29c0524255ba8d57d829af0b14cbf34e3b46995d8.jpg#m=image%2Fjpeg&dim=767x501&blurhash=rVO%7C60OtcGs8xYs8t7S5ozRPkDbIa%23ayaxj%5Bjsj%5Bu6nNnhbHWUbbaxjsjsM%7Dofflayayayj%40fRj%40tnadnhbIaybIayjZjsIuoJoejYf6a%7Dj%40a%7Djs&x=ff8dd050b0298cea59915b278d6fde83936aa07601f2e06e237a4dde8950c980

MOAR ₿ITCOIN! https://image.nostr.build/ff133358d0e9c88f2596cec8160d90c40ee85976ef3309b0d07c1afa10be0e86.jpg#m=image%2Fjpeg&dim=624x511&blurhash=%23SBMo%7DMwT1WXxFogt7n%7EWVVUoMW%3BbbRkt7jsayfiI%7ExvaKt7azWVR*azjtnbM%7Bt7s-oLR*ayj%40aztpM_ogR%2BNFofWBWVays%25f8j%3Fj%5DjZoebHayjsRit7WBj%40ofayjua%7Cf6&x=361d2c9180d2cb0b9266327b8bc49de96e061c60e04228e1bcf8505fb87e629e

This time is different, and why we will have a super cycle. Last cycle there was a lot of talk about a possible “super cycle” and, bitcoin having a small pull back, but then continuing up and breaking the 4-year cycle trend. Chain of Events and Catalysts Leading to Super Cycle: In Q1 2024, according to many experts… we will be getting the bitcoin spot ETF. Likely in the first week of January, 2024. We will also are likely to get rate cuts in Q1 or Q2 2024. Which will make capital flows increase by making cost of capital cheaper. In Q2 2024, we will be getting the bitcoin halving, currently looking like the first or second week of April. In Q2 or Q3 (if not sooner) we will also likely see massive money printing before the US Presidential Election in Q4 2024. In Q1 2025, the FASB accounting rules for Bitcoin will go into effect, although it has already been approved… I think that many institutions will wait for this. In 2025, many banks and institutions will hold bitcoin on their balance sheets, which will further push adoption and may increase the allocation by other funds and institutions. I think that the FASB accounting, and banks adding bitcoin to their balance sheet, along with the spot bitcoin ETF will eventually lead to pension funds and sovereign wealth funds putting bitcoin on their balance sheets. This is likely to occur in 2025-2026, in my opinion. Michael Saylor, and others in the space with vast knowledge of business and investing have discussed how long it takes for businesses to be able to make purchases and get approval for investments through their company. This could stretch into 2026-2027. In 2027, I think we get more people trying to front run the halving, that is likely to occur in Q1 2028. Below are some links about FASB accounting in bitcoin and one on banks holding bitcoin on their balance sheet: FASB:

Thomson Reuters Tax & Accounting News

FASB Unanimously Votes to Finalize Proposal on Accounting and Disclosure of Crypto Assets

The FASB on Sept. 6, 2023, unanimously voted to finalize proposed accounting rules on crypto assets—one of the board’s quickest decisions recen...

Bitcoin Magazine

FASB Votes In Favor Of Fair Value Accounting For Bitcoin

The rules are set to go into effect as soon as 2025, but companies will be able to apply them earlier than that.

Banks:

Bitcoin News

Federal Reserve, FDIC, OCC Discuss Allowing Banks to Hold Crypto on Balance Sheets

A group of U.S. banking regulators is working on how banks can be allowed to offer crypto services and hold cryptocurrencies on their balance sheet...

MOORE’S LAW IN THE DIGITAL AGE: IMPACT ON BITCOIN MINING, CLOUD COMPUTING, AND BEYOND / Blog / By Matthew J Moore’s Law in the Digital Age: Impact on Bitcoin Mining, Cloud Computing, and Beyond Moore’s Law, introduced by Gordon Moore in 1965, has been a cornerstone in the world of technology, predicting the exponential growth of computing power over time. This article explores the enduring relevance of Moore’s Law in 2023 and its impact on various technological domains, with a specific focus on bitcoin mining, cloud computing, and the broader landscape of computing technology. Moore’s Law and Bitcoin Mining: One of the critical applications of Moore’s Law is evident in the field of Bitcoin mining. Moore’s prediction of doubling transistor count every two years has driven advancements in hardware, resulting in smaller, more powerful, and energy-efficient electronic products. This exponential growth in computing power is crucial for the security and stability of the Bitcoin network. Bitcoin miners, such as KnCMiner Mercury, AntMiner S1, and HashFast Baby Jet, demonstrate the rapid evolution of mining hardware with increasing hash rates. As the hash rate grows, the security of the Bitcoin network strengthens. However, Moore’s Law also presents challenges, such as the potential centralization of the bitcoin network through mining pools and centralized mining, prompting the need for continued innovation and adaptation in the bitcoin space. Moore’s Law and Cloud Computing: Moore’s Law significantly influences the capabilities and architecture of cloud computing services. The continuous improvement in server technology allows cloud providers to offer increasingly powerful virtual machines and data storage at affordable prices. However, this progress raises concerns about data centralization and potential security vulnerabilities. The rise in processing power, driven by Moore’s Law, emphasizes the importance of robust data security and privacy measures. As hardware becomes more potent, the industry faces the challenge of addressing sophisticated cyber threats through enhanced encryption and security protocols. The Evolution of Moore’s Law in 2023: While Moore’s original theory of doubling transistor count every two years has undergone changes in practice, its underlying principles of technical growth and innovation persist. The technology sector continues to prioritize the development of more powerful, energy-efficient, and inventive computing technology, albeit with a more nuanced understanding of Moore’s Law. In the context of bitcoin, the constant increase in processing power has led to the development of more durable cryptographic algorithms and longer key lengths. This adaptation aims to counteract potential security risks posed by the benefits derived from Moore’s Law. Conclusion: As Moore’s Law continues to shape the trajectory of technological progress, its impact is evident in diverse fields, from bitcoin mining to cloud computing. The industry’s pursuit of more potent, energy-efficient, and innovative computing technology remains unwavering, even as the exact doubling of transistor count may have slowed. The future of technology relies on a dynamic interplay between Moore’s Law, hardware evolution, and the resilience of various sectors to address emerging challenges and opportunities. Miners by advertised hashrate. Hashrate denoted in Mhash per second: KnCMiner Mercury: 100,000 AntMiner S1: 180,000 BFL 230 GH/s Rack Mount: 230,000 KnC Saturn: 250,000 Avalon2: 300,000 HashFast Baby Jet: 400,000 KnC Jupiter: 500,000 BFL 500 GH/s Mini Rig SC: 500,000 Bitcoin Ultra Enigma 1: 750,000 Avalon3: 800,000 HashCoins Hermes: 1,000,000 HashCoins Apollo: 1,000,000 AntMiner S2: 1,000,000 Black Arrow Prospero X-3: 1,200,000 HashFast Sierra: 1,200,000 HashCoins Poseidon: 1,344,000 HashCoins Zeus: 1,600,000 CoinTerra TerraMiner IV: 1,600,000 ROCKMINER Rocket BOX: 2,100,000 AntMiner S3: 3,000,000 KnC Neptune: 3,000,000 BTC Garden AM-V1: 3,500,000

METCALFE’S LAW: THE NETWORK EFFECTS OF BITCOIN / Blog / By Matthew J Metcalfe’s Law: Metcalfe’s Law is a fundamental principle used to comprehend the network effect of communication systems such as cryptocurrencies and blockchain networks. Metcalfe’s Law was first used in the telecommunications industry, and has subsequently been applied to several social and technological networks. Metcalfe’s Law was created by Robert Metcalfe, the co-inventor of Ethernet, and is used to assess the importance and influence of networks based on the number of connections between its users. According to Metcalfe’s law, a network’s value is directly inversely proportional to the square of its users or nodes: Formula: V = n ^ 2 The network’s value is represented by V, while the number of users or nodes is represented by n. Metcalfe’s Law indicates that as a network’s total number of users grows, so does the network’s value. This is because, in a decentralized network, more users mean more potential for transactions, and network effects, which in turn can lead to greater adoption and value appreciation of bitcoin. According to this law, the value of the bitcoin network increases not linearly with the number of users but quadratically. This model suggests that the adoption and practical applications of the bitcoin network determine its worth. The more users who find value in using bitcoin for various purposes, the more robust the network’s growth potential is. Metcalfe’s Law also suggests that the size of the network directly affects its value. As more users utilize bitcoin for transactions, investments/hodl’ing, or other purposes, the demand may increase, which leads to price appreciation. Types of network effects in Bitcoin Various types of network effects in bitcoin are explained below: The user adoption network effect, which occurs as more users join the network, increases the network’s value and utility, draws in more users, and is one of the main network effects. The security network effect emphasizes the significance of a large number of miners or validators participating in a network since security is of the utmost importance in bitcoin. As more miners are added bitcoin becomes more secure, preserving the integrity of the blockchain and the transactions that take place there. I will be delving into Moore’s Law in a different short article. Moore’s law is a better fit for the network effect of mining and security, in my belief. Some people suggest that Reed’s Law or Odlyzko’s is a better fit for bitcoin price models, but I disagree. Why does Metcalfe’s Law matter in bitcoin? Metcalfe’s Law is an essential concept in the bitcoin space, as it highlights the significance of network adoption, decentralization, the network effect, market valuation, scalability, and security. Network adoption and value Metcalfe’s Law, which highlights the significance of network adoption, is particularly relevant in bitcoin. The bitcoin network’s value increases non-linearly as more people join it. This increase in value has the potential to draw more users, creating a beneficial feedback loop cycle. Decentralization Metcalfe’s Law supports the idea that a larger, more widely dispersed network is more secure and more difficult to attack. The risk of single points of failure or control decreases as the network gets more decentralized due to the growth of nodes. I will be making another article about Moore’s Law, which has a correlation to the mining and decentralization aspect of bitcoin’s network effect. Does Metcalfe’s law help explain Bitcoin’s price formation? Yes. Metcalfe’s Law can help explain Bitcoin’s price formation. It is relevant to Bitcoin because it implies that the value and utility of the Bitcoin network rise quadratically/exponentially with its number of users and participants (holders, investors and traders). The adoption of Bitcoin has been accompanied by a positive feedback cycle in which increased users have resulted in a rise in bitcoin’s value, drawing even more people in. Bitcoin had a small user base in the early days, and its value was relatively low, this has been accelerating and increasing over time. Possible downsides of using the Metcalfe’s law model to determine Bitcoin’s price projections or changes. There are numerous factors, such as market sentiment, governmental changes, macroeconomic trends, overall global money supply liquidity, and technology improvements that impact the bitcoin price. Additionally, because of Bitcoin’s volatility, speculation can greatly impact short-term price changes. Metcalfe’s law does not account for all variables, but still can be a useful and worthwhile metric. Further and More Advanced Understanding Resource: There is a resource below that is much more in depth on Metcalfe’s law and how it applies to bitcoin and the bitcoin valuation: 📄.pdf

PROOF OF WORK / HASH RATE / COMPUTATIONAL POWER / Blog / By Matthew J Intro: Bitcoin, operating on the principles of mathematics and cryptography, relies on key concepts such as digital signatures, hash functions, and the intricate relationship between hash rate and proof-of-work mining. This short article aims to elucidate these concepts and their significance in securing the Bitcoin network. Hash Rate: Hash rate, a pivotal metric in the world of cryptocurrencies, measures the computational power employed to process and secure the Bitcoin network. The security of Bitcoin hinges on the mathematical properties of cryptographic algorithms, ensuring the network’s resilience against manipulation. Higher hash rates indicate increased computational speed in solving complex mathematical puzzles, thereby enhancing the security of the network. Proof-of-Work (Mining): Mining in the Bitcoin network involves solving intricate mathematical problems, referred to as hash puzzles, through computational power. Miners engage in a competitive race to be the first to solve these puzzles, earning the right to add a new block to the blockchain. The hash rate, akin to the speed of solving these puzzles, plays a crucial role in determining the efficiency and security of the network. The current mining reward, or block reward is 6.25 bitcoin. This will be reduce to 3.125 in 2024, this is called the halving, which occurs every 210,000 blocks. Hash Functions: Bitcoin employs cryptographic hash functions, such as SHA-256 and others, to generate unique, fixed-size hash codes from input data. Blocks in the blockchain are linked through the hash of the previous block, creating an immutable chain. This cryptographic structure ensures the security of the blockchain, as altering a single block would require changing all subsequent blocks. There are online tools available to see how a hash works, please see:

SHA256 Hash Generator Online Tool - Coding.Tools

This online SHA256 Hash Generator tool helps you to encrypt one input string into a fixed 256 bits SHA256 String.

Computing Power: Computing power in the Bitcoin network represents the collective strength and efficiency of connected computers. Analogous to workers in a factory, these computers aim to solve the cryptographic puzzles, validating transactions and creating new blocks. More powerful computers or a higher number of workers enhance the network’s ability to solve puzzles swiftly, contributing to overall efficiency. Relationship with Security: The correlation between hash rate and security is evident – a higher hash rate signifies a more secure network. As the computational power increases, the difficulty of manipulating the blockchain rises, safeguarding the integrity of transactions. In the event of an attempt of a 51% attack of the bitcoin blockchain, it would cost millions in mining equipment/hardware, electrical costs. A 51% attack is when a person or group tries to gain control of a majority of the blockchain, to try to corrupt the network. If successful, they would end up mining an empty block and not collecting their block reward… because bitcoin nodes would reject the block. Nodes validate transactions, and they would not validate someone trying to create a double spend/51% attack. TLDR: It is more profitable to mine bitcoin and join the network, than to attack it. Changes in Hash Rate: Fluctuations in hash rate indicate shifts in network activity. An increase implies heightened security, greater computational resources, and increased electrical power consumption. The Bitcoin network has a difficulty adjustment approximately every two weeks (2,016 blocks), ensuring equilibrium as the hash rate evolves. According to Moore’s law, the observation that the number of transistors in an integrated circuit (IC) doubles about every two years. This can be related to the increase in computing power nearly doubling, approximately every two years. Popular Proof-of-Work Blockchains: While various cryptocurrencies employ proof-of-work, Bitcoin commands about 99% of the total hash rate. Other notable blockchains include Ethereum Classic, Dogecoin, Litecoin, Bitcoin Cash, and Bitcoin SV. The distribution of hash rates among these networks reflects their strength, security, and adoption. Bitcoin is the only relevant blockchain, as seen by the 99% hash rate dominance. Conclusion: In summary, hash rate, proof-of-work, and computing power are integral components of the Bitcoin network’s architecture. Higher hash rates contribute to increased security, efficient mining, and overall network robustness. Understanding these concepts is fundamental to comprehending the intricacies of the cryptocurrency landscape, especially in the context of Bitcoin’s dominance in the proof-of-work paradigm. I would be remiss to not mention the importance of PoW mining to decentralization and the role it plays in game theory as well. Looking ahead: Over the last 24 months the bitcoin hash rate is up from 146 EH/s to a peak of 575.3 EH/s. I am predicting that we will reach 1 Zettahash/second (ZH/s) by the end of 2024.