since when is FIAT stable

car fuel costs have increased by 50% and then corrected buy 15%
the dollar to british pound moved 9% in a fortnight

electricity prices have doubled in some area's

instead of thinking crypto should be stable. people need to realise that FIAT has never been stable

people have just got used to price changes of goods in fiat.. being mascaraeded  as "seasonal premiums(near christmas high prices) and then the "sale/discount periods

i wouldnt say paths..

i would say strings of thread that satoshi weaved together into the tapestry known as bitcoin

ok...
for all those interested. im the supposed troll

firstly i have been calling out CSW as a scammer since 2015!!
stop being a social drama queen liar to defend your silly opinon

and no dont pretend 100%(an unnatural occuracne to even exist) of btc were segwit supporters in mid 2017. and now dont even dare to try to say i am saying that i am comparing the whole BTC community as CSW's
how dare you stoop so low

YOU= your 11 buddies are such queen's of drama. just stop with the drama and understand the context. and the details and the actual words and the actual meanings of actual things.. and realise what the question and my response was actually about

the question and my response:
so i poked at a certain group of people (only 3-4 of them were in the hodlenaut topic asking a genuine question, which i found hypocritical of those 3-4 to ask based on previous experience of them) because:

certain people in the hodlonaut topic asked(not verbatim) why do idiots blindly stay loyal to other idiots who tell a story that is only backed up by quotes of other idiot friends of theirs.. but that story does not align to actual proof. such as blockdata. historic events, actual code.etc

see a genuine question. that deserves a genuine answer

here is the link to the post
https://bitcointalk.org/index.php?topic=5413844.msg61008060#msg61008060

i noted the hypocrisy of these certain peoples question.. so thought i would let them solve their own question by using an example of when THEY personally decided to trust friendship loyalty over hard fact data

 i called out a group of people for using social bias and loyalties to push a different narrative(about a different event) that does not fit the real blockdata version of events.. so they can get some prospective of the reasons. because those asking the question are involved in a false social drama narrative of the other event i poked at..

thus they could ask themselves and answer themselves why they believe in loyalty of human trust rather than evidence of immutable hard fact data

so windfury is upset because I called him out on a topic.. even though i didnt use his name. he seems to have outed himself.. by biting

poor lad.. he cant be bothered to read blockchain data so wants to point fingers and name call to defend his opinion that bitcoin upgraded without controversy, without a hard fork(his buddy group narrative).. even though there was controversy and a mandatory hardfork to remove the opposition, to activate a bitcoin upgrade

shamefully he then wasnt to push any that disagree's with the tactics used to get the upgrade activated, must somehow belong in the same group as scammers and thieves and scumbags

windfury.. put your social drama to bed.

..
its funny that now he is still trying to defend that his opinion remains strong. and thinks i am trying to confuse him to the point of insanity and manipulate his mind(gaslight) and i must just be a troll for trying to get him to actually look at the evidence that opposes his opinion about events of bitcoin..

oh well windfury.. stop crying. stop posting social drama and JUST READ THE BLOCKCHAIN DATA.. you have had YEARS to do it

---

one major thing you should learn
bitcoin does not upgrade unless it shows high majority flag accepting to upgrade.

if people veto, object. this does not mean they are following some scammer team. it means they dont like the path an upgrade wants to take and are simply objecting to an upgrade. which normally means the upgrade proposers go away and tinker with their proposal and come back with a compromise..

it does not mean mandate the upgrade to activate anyway by removing non-flagging blocks to fake a 100%(which is an unnatural amount to ever accomplish but they did) and hen do social drama calls that objectors must be on some other team of scammers.

GROW UP.

the point of the question was not to debate the whos on what team of some civil war event that fits their narrative..
 it was to point out that even in BTC there are people that would rather cause social drama by faking history to fit their story of drama creating crap that they just want to entertain each other with for years by echo chambering the fake versions of history just to make more drama

---

last thing. if you want to start another social drama debate (you did by making this topic)
atleast try to provide evidence. and not just shwow you emotions and try pigeon holing people into some scammer group becasue you think if they disagree with your opinion they must be some troling scammer..

now go read the blockchain data of the event you continually want to social drama lie about. get your facts straight. realise the truthe and move on with yourlife

oh and by the way core devs actually admittted that the controversial hard mandatory hard fork occured..
so dont turn this into a 2022 debate about calling out the devs.
its about calling out just 12 idiots that still cling on to a version of event that didnt not occur the way they want to present it

so read the blockchain data, own up to your mistake. and make that group number, one less

give it time

eth traders are trying hard to keep the speculative price pumped in the +$1300 for as long as they can. but gradually over time that price will step down, and step down and step down.. multiple times until it settles to a new level closer to its new lower SoV

yes bitcoin might have a maximum of a 4-5x bubble ATH premium ontop of value..
($15k->$70k)

but ethereum went from a 4x max speculative window during PoW times of value ($900value->$3.8kATH)
to where stats hours before the merge was ($900value with $1.7kprice) (2x)
but after the merge the value dropped under $40 meaning the market price is being highly pumped by a factor of 30x+ ($1300 price)
trying its damned hardest to not just instantly fall within days to a safer store of value speculative window of 4x

but dont expect this 30x+ of value to remain held up... the speculative bubble pumps cant last forever. they are unsustainable
..
same goes for gold if everyone could mine for $2 in their back yard. gold would not be on the market for $1.8k. it would be on the market for under $10
..
as for thinking that NFT will keep the prices of ethereum in the $1.3k range.. it wont

because although someone bought a $17k NFT for say 10eth during the last days of PoW
in the future when selling it for $17k to break even..  a buyer would use fiat. buy ethereum at a new low of say $40/eth-$160/eth and hand that NFT seller 106eth-425eth to make the seller happy to break even

thus NFT wont help keep eth price pumped.. people will just buy more eth at a lower price to make good on a NFT holders break even cost

a few things to tell you.

A. when bitcoin goes to new ATH. it ALWAYS corrects back down
bitcoins ATH are not a point of sustained value where bitcoin should remain. the ATH are the temporary events that are high premium speculation bubble that pop and correct back down to value

B. value is not found at the top where the dip/correction is the surprise. value is found at the bottom where the ATH is the surprise

C. the new "bottom" aft a new ATH is a higher bottom than the previous bottom before the ATH

D. if you think that people selling today can buy back in at 20x less. you do not have a clue about the value cycles and the underlying value function..

E. the underlying value where NO ONE is stupid enough to sell below (the bottom of the bottom.. the non zero value. the no mans land that supports the market above that line.. has an actual thing supporting it)

f. that thing is the underlying most efficient method to acquire bitcoin where no one on the planet will get it for less.. which is the most efficient mining cost.
at the moment this sits at $15k. and by the next halving cycle will be more then $15k meaning the market orders above this amount will also be higher

ethereum for instance went into a change where the underlying cost of acquiring ethereum has taken a 20x drop.. so expect ethereum to do as you dream of having a 20x fall.. this is because PoS is alot cheaper to mint new coin..

but bitcoin is different. it has actual hard costs in its creation of new coin. people that cant afford to mine it. instead buy it. and so they are wiling to pay a premium(ontop of the underlying cheapest cost) to get it with the convenience of getting it without the effort and time of mining it. which makes the market above the underlying cost.

if you understand the things involved in price discovery. you would understand for bitcoin to drop 20x the underlying costs have to drop by that amount

.. remember the ATH are not the value/sustained price.. the ATH are the temporary events.
so calm down when you cry that you bought at a ATH and didnt realise that it was going to correct.

because now you have learned. you can take advantage of bitcoin now that its near the low. and cheap to buy. to be in the buying phase now..

so last point

G. buy low sell high.. dont buy high cry low.. bitcoin is at its LOW. not its high

i doubt saylor will just want to become yet another node of the existing LN network weak policy guidelines, nor want to just make another wallet based on current LN weak policy

i think he will get developers to look at all the flaws of LN and develop another network that is a hybrid of LN but with less flaws and less ways to break pegs, less ways to create false balance and have less ways to cause liquidity bottlenecks without people having to set up multiple channels of X value each when they only want to spend X total in LN. and then have to try to shuffle funds around which causes more bottlenecks

but hey i think most people in this topic are just salivating and getting hormonally excited that someone of big name influence mentioned their brand of altnet

ok so i have a tough question to ask the last 4 people that posted..
it might seem harsh and tough to answer and may seem like a poke. but i feel the answer will answer their own biggest question of why is CSW lying and his partners believe/follow him even when there is evidence that debunks what he says

i am not interested in yet another social drama debate. im not even asking you to answer which would out yourselves, but just think about the answer for your own purpose

so first a describer
within the last 5years . some individuals that dont like researching have been fooled via social bias and echo chamber games of a narrative they trust due to social allegiances/loyalties  where the story is that there was a btc upgrade that was, in their belief a natural, soft consensus upgrade.
.. but the only proof ever shown of their narrative was each other quoting other people as their source of proof(echo chambers)
vs
the hard facts of node code of mandatory hard fork. petition/agreement document of economic nodes agreeing to flag for the mandatory effort to activate it with a fake promise of a extra upgrade later to appease the upgrade objectors.
and backed up by the hard immutable data of the blockchain plus the data of the altcoin created at the date. which all show that the mandatory contentious hardfork occurred..

where these people have been loyally and robustly trying to push the fake narrative soft upgrade narrative for upto 5 years. and want to cause debate if anyone talks about the real events

so the question (its rhetorical and i dont need to know it. just answer it in your mind for your own enlightenment)

why after 5 years do certain people still prefer to follow the social drama narrative of lies, just to back up and be obedient to their buddy group.
rather than admit they fell for social drama lies
rather than just come clean.
rather than realise there is actual evidence that debunks the narrative. rather than admit they were wrong, get over it and move on with their lives

i dont need to know the answer. the answer is for yourselves to think about and realise that people are too easy to trust other people based on some social/greed reason. where they even want to play dumb or ignorant at the hard data that debunks their beliefs

---

CSW has never shown good knowledge of his supposed IT, data forensics degree's but he really is well versed in his theology degree and he uses it more then any other degree he supposedly has

theology: the study in how people believe in something unseen/mystical without needing proof

the other thing CSW forged which many are not talking about and CSW didnt do much care in editing to seem plausible to his timeline. is that "his first version" of bitcoin code (0.0.8 ) which was meant to be released to specific people CSW knew before 2009.. had a genesis hash.. of a block that contained the quote of a newspaper headline that was not even published until 2009
edit
(not the "version" in latest case reveal. but one he released as "2008 proof" a couple years ago.. (he loves to edit. then edit then edit then edit changing his story multiple times over the years))
..
you have to remember 2 key points about CSW motives
1. he doesnt care, win or lose..
2. he sees each public event he attends, every debate, every interaction, every court case as a recruitment campaign..

he doesnt want to show accurate information. he wants to show things with flaws.
why.. because if idiots contact him and believe his narrative he automatically knows the person contacting him is a idiot that believes anything
thus an easy new victim to con

its also a display of how he can scam people and get away with it. which is another recruitment method. greedy immoral people seeing a guy get away with scamming people. going to court but never seeing prison makes greedy other scammers want to get in on the game

scamming people in the amounts of millions but only having to pay hundreds of thousands in court costs.. is what some call "cost of doing business", as it scares off his victims from trying to sue him. knowing it ends up costing them more than they lost individually

BELOW not AT
ABOVE not AT

i never said AT only you did

also the 20% is a number the share/stock/forex marketeers of wall street thought up decades ago.. a long time before millenium

its a known thing in wall street

yes technically(functionally) bitcoin 2012(price $6) could buy something worth $120 by giving the retailer 20btc
just as easy technically(functionally) as bitcoin 2022($20k) giving a retailer 0.006btc

so functionally yes bitcoin can pay retailers X amount at any token amount representative of a price
.....
as for your endless question your not satisfied with.. the reason for the price being at $20k/btc and not at $6/btc is again related to the mining /acquisition costs that propelled the underlying value up which then propels the price speculation above it up

the price is important because mining costs now do not cost the same $3+ per coin cost of 2012 GPU mining

if mining now was still say $3+/coin underlying cost, the speculative market would not be in the $15k-$70k range
it would be in the $4-$130 range

you are seeing ethereumPoS now learn this. they are trying their hardest to now pump ethereum speculative price up in a bubble to keep it up as long as possible but eventually the price will correct down to the new value level thats atleast 20x lower than its PoW underlying value last month
yep ethereums underlying cost has significantly dropped and the markets are responding and some pumpers are trying to fight that response. but they wont be able to pump it forever
..
anyway back to explaining the bitcoin market
most investors are minnow (small) investors doing trades of $400-$600 per order average
back in 2012 bitcoin sellers had costs of ~$4 and were wanting a lil speculative profit so selling 1 coin for $6 and obviously when a buyer had $400 on offer, a seller would give them 66 coin for that $400

now it costs $15kmin so those lucky miners want a lil profit so sell for more then $15k by offering the small minnows ~0.02btc for $400
which equates to ~$20k/btc

no one today would give someone 66btc for $400
because no one is foolish to sell for that kind of loss amount

as i said if they really need that $400.. they end up giving the buyer 0.02 to get the $400. but without selling at a loss

you wont find any seller today that really needs one of those $400 minnow offers. hand over a whole coin or 66 coin. they would give 0.02btc though. because thats a fair price for $400

---

bitcoins summer autumn 2022 price of $17k-$24k isnt just some random price picked out of a hat and set magically today.. its a build up of 13 years of price discovery based on the increased underlying costs of mining bitcoin which has increased over 13 years

the reason why bitcoin did not stay at $70k ATH this year.. is because the difference between the $15k bottom of this year and that ATH.. is the speculative price window.. not value

where $70k was not good value. it was not supported.. it was inflated/pumped into a bubble of unsustainable premium/greed. which reached its peak and corrected back down to good value because $70k was a unsustainable price.. and not supported to stay at that level

many people throw around "bull" and "bear" whenever there is a up or down movement.

but a true bull market is when the price moves and stays above 20% of a previous low for 6 months

for instance the 2020 low was $4.8k (+20%=$5.7k) .. we are still way above the $5.7k of the previous low

a bear is when the price drops below a ATH by 20% and stays below that amount for over 6 months

EG the last ATH was $70k(-20%=$56k) bitcoin stayed below $56k for more then 6 months so yes a bear market occurred

as for now where 2022 low reached $17,600 (+20%=$21k)
but we have not stayed above $21k for 6 months so its not a bull market. we are still in the bear of last year.. but.. still in bull of the last 2 years

yep if you bought in 2020 low. you are bullish today
if you bought in 2021 you are bearish now

i got most of my haul in 2012.. so im always bullish on bitcoin

bulls and bears are not changes daily. they are descriptors after assessing the last 6month+

three things regulators can do if certain things align change or are pushed.. (worse case scenario

so lets get real
they can tell their regulated bitcoin BUSINESSES (exchanges) to stop servicing BTC much like you see american exchanges like coinbase not list monero

if bitcoin was regulated by CFTC(commodity regulator) then extra regulations become applicable where environmental concerns are allowed to limit/prohibit things. such as asking power companies to not service large electric using industries if the power companies are fossil based. this can impact mining farms.
(CFTC coverage also causes limitations on many commodities like environmental impacts of cattle farming and fertiliser use on crop farming)

corporations that employ the main bitcoin devs with merge/commit/maintainer privileges of bitcoin core can have their employers pushed to push their employees to develop new forks that are doing different algo's/features and functions that regulators want

but here is the thing. even if regulators push for a fork and make exchanges in america only list the fork as "btc". the community could rally around a campaign to just stop using those exchanges and declare those exchanges as fake bitcoin traders. losing exchanges money  via less customer use

yes it could make bitcoin take a few steps backwards in its growth and have to then popularise the exchanges that are not US regulated. much like when MTGox disapeared it took a while for people to trust other exchanges as the main price discovery sites.

but thats all just temporary drama of yet another fork yet another mining farm location shift and yet another change of the most popular exchanges to use as price discovery

bitcoin experienced all these sort of games in the past, brand stealing, forks mining bans and exchange popularity shifts.. and bitcoin still remains

but with al that said. there are many things to do before any of that happens to mitigate the drama, minimise the impact and even prevent the risk of there being any attempt/effort to push those regulators into doing anything



you are confusing value vs price
the store of value does not follow price. they are separate measures

SOV is a amount BELOW the market bottom. its the no-mans land of trading where no one trades below. but its not a daily change figure. its a long term milestone amount.
so while the price jumps around daily, the store of value amount sits below that healthily and slowly rises per quarter-year

al assets have a SoV amount. but like i just said none of the SoV amounts are the price..

lets use gold
the SoV amount is ~$900 and the market price is $1700
SoV is ~53% of price

ethereumPoS has a SoV of $35 and its market price is $1300
Sov is ~2.7% of price

bitcoin has a SoV of ~$15k and the price today is $19k
Sov is ~ 79%
..
bitcoin at its current price allows people buying to store more of their wealth than if they bought gold

yes try to avoid buying bitcoin when the price is high.. but thats common sense
buy low sell high. dont buy high sell low.

no where in history has store of value ever meant that it stores all of price as value and locks in that value to never lose anyone any value when they buy an asset
no where no time no asset has ever made that promise and neither has SoV concept meant every cent of peoples purchase is locked in and saved/secured

prices always change so SoV has never been the price amount
SoV is about have a non zero 'bottom' no one sells below thus protecting a certain % of peoples buy price

if the price is low and closer to its SoV then that is called GREAT VALUE

yep when the price goes down its good to then buy because the percentage of your buy is protected more due to being close to great value thus locking in more of your value

when the price is high.. thats the speculative bubble. and not a good time to buy less of your wealth is protected

bitcoin. or any assets VALUE is NEVER i repeat NEVER sat at the ATH. value is ALWAYS sat at the LOW

when the price corrects after the bubble ATH the correction down is not "losing value" its infact the price returning to great value prices where people can protect more of their wealth

bitcoin never asks for your birth certified names or house location

chain analysis works with BUSINESSES that do.
its art of the GSC portfolio so it graps BUSINESS customers details

bitcoin is pseudonomous but BUSINESSES are not

the DCG subsidiaries are the main BUSINESSES at the edges of bitcoin
just look at all the businesses sharing info between each other and to chainanalysis

https://dcg.co/portfolio/
just to name a few  coinbase, bitpay, gyft, ftx, kraken all share info on their customers

but bitcoin transactions never ask for user info. no blockchain data includes peoples names or locations

for employees that just take payments.. they dont need the jargon explained. they just need to know how to acept payment

no business does training days to tell their staff that bank notes are based on inflationary debt where its not actually made of paper but some cottonpaper mixture.. they just say here is the cashtray of a Epos system, type in the amount press total, the tray opens and you put the bank note in and give the customer any change owed


simplest way to accept bitcoin and acknowledge payment

have them book mark a bitcoin price calculator site.
so that when selling goods for $xx.. they can calculate how much btc that totals and ask customer to pay

get your employees to bookmark the blockchain.info/btc/[your address]
on their phone so they can watch for new payments,
the site also displays a QR code for that address the employee can show to customers
.
then the employee just watches for the payment to show in on the page

you could also then code up your own app that automates all of this

the silly thing with americans is

they say they want the days of wild west again. where there are no laws.
yet everyone saying it never actually lived in that uncivilised violent society of disease, theft and rape/pillage

they say they want no laws.. yet america is "sue central" a country that loves laws and ability to sue each other for even the smallest things

they say they dont like tax waste, yet they get very patriotic about wasting military money to invade other countries but want to say that america should not have used even a third of that tax waste on medical care for its own people

yea they think people should pay less tax but the things they want that smaller tax treasury budget to be used for is mostly to fund businesses and wars not the people

seems america doesnt know what it truly wants

lets take bitcoin
most American bitcoiners loved the idea of bitcoin going mainstream when governments legalised it as current in ~2014
where by the repercussions is that being  legally recognised currency meant that currency regulations then applied to businesses.

they thank people who invade countries thousands of miles away, but treat people being turned away from hospitals as scum that dont deserve respect
...
as for bitcoin libertarianism
yep before being defined as a currency bitcoin was just a tradable product. like pokemon cards or beanie babies. it had a value/price.. but not the silly regulations of AML/KYC and tax reporting
heck even the "privacy" laws changed.. because personal property privacy laws are difference to financial privacy laws. so yep bitcoin lost alot of privacy rights when it was declared a currency. and now only the privacy privileges of the bank secrecy act apply. which are where financial services can monitor its customers financial activity and report it to government if they find suspicious activity

crypto is no longer in the libertarian era of adoptors.
and a libertarian government is not happening soon when america politics is just a 2 party choice between the dems and reps

even in the UK there is the pretense of a 3 party race between conservatives, labour and lib dem.. but its actually just a 2 party race of labour and conservatives
where lib dems are used by conservatives as the tool to dilute/syphon votes away from labour to strengthen conservative chances of winning

and politics does not care about meeting the majority of citizens needs/wants.. it believes in just getting a majority vote to then do as the winning side wants

take UK politics when they had a coalition        C   LD   L
you would think if there was say a election of  48 - 7 - 45  you would think a political party wanting to meet the needs of majority of people would choose a coalition of C+ L to have goals that meat 93% of citizens needs. but instead they went 55% by siding with LD to ensure the conservatives won and conservative control was majority

libertarian is a fantasy. its the "pursuit of happiness", "follow your dream".. which no where in those phrases do they mean. achieve, get, fulfil

its much like pretending citizens can help change laws.. but governments dont educate people to use lobby groups or petitions that are filed in government buildings which legally cant be ignored. instead the game is to tell people to cry/shut in street protests.. which has NO legal/lawful path to law changes

yep organise a 1m street protest.. laws dont change.. organise a 100k petition, makes politicians atleast have to discuss the context of the demands for change
uk:
"Create or sign a petition that asks for a change to the law or to government policy. After 10,000 signatures, petitions get a response from the government. After 100,000 signatures, petitions are considered for debate in Parliament."

so all this libertarian street protects for 1m people.. do nothing and have done nothing.

im all for less laws less regulations and also efficient use of treasury money to go to help the citizens. not business/other country profits/invasions
but americans version of "libertarianism" which is just to make people stay asleep, dream and follow dreams without waking up.. well no not gonna happen and people need to wake up

no one can predict accurately the exact moment it will rain because of wind patterns and such.. but

if you know summer of 2021 had exceedingly high temperatures it = extra evaporation of water. that goes into the sky.. and what goes up.. must come down.. its simple physics

no one can predict exact date WHEN but if you know X billions of gallons are in the sky = Xbillions to fall out the sky

however if this years temperatures were not as hot it = 0.Xbillion gallons of water in the sky = 0.X litres to fall.

no one can know when. but maths is easy to know amount..

if the right conditions apply like a windy end of summer. that wind blows vapour together to combine to create larger droplets which become white puffy clouds. and if wind remains strong they combine and make bigger droplets to make dark grey clods

other factors like if when evaporating they reach the upper atmosphere they cool into ice droplets which if slammed together by wind can form sleet, snow or hail

too man y factors to accurate predict on the daily. but over the course of 3-6 months they can predict the odds of things happening but just not when.

..
oh and for the whole "climaate change" debade
its not carbon.. its actually the water cycle that affects temperatures more
notice hw 2 days of bot equal earth tilt towards the sun = equal rays of light on both days, differ.. even though carbon lingers around for moneths-decades..
thus carbon change on the daily is not affecting the daily

but water.. that can change temperatures by MULTIPLE degree's fast.
and here is the human caused effect

instead of letter rainfall run down streams, rivers and soak into neighbouring land to cool the soil and allow easy evaporation to complete the water cycle. most water ends up in vast reservoirs which are harder to evaporat a gallon of water compared to it being spread out on land as a think layer
then its pumoted into pipes thus not having much exposure to the sun. also when it does rain instead of rain soaking into fields.. it hits concrete streets and pushed into drains. thus again less sun exposure to evaporate.. and then its all pushed out to the sea..

thus compared to 1850.. far far les rain reaces open soil land to evaporate to make more rain..

the rain forest.. emphasis RAIN forest is important to climate.. but not due to carbon.. but RAIN.. hint is in the name
each leaf of a tree is like a small frying pan. it holds droplets of water and as the sun hits the leaves, it heats the water causing evaporation and that evaporation takes the heat away keeping the leaf and the air surrounding it cooler. (much like how human sweat cools people)

bitcoins halving 2012 - november
price pre halving $6 price post halving $13

bitcoins halving 2016 - july
price pre halving $400 price post halving $960

bitcoins halving 2020 - november
price pre halving $5k price post halving $11k

halvings as the name suggests only cause a doubling of cost..
2x trigger

but comparing the mining rates of asics. from say the 2016 2020 generations
they have a factor of 3-5x deficiency
which can push the mining and market dynamics at play up by a 3-5x

yep cpu only managed 1mhash.. GPU managed a 100mhash
hense the $0.30 ->$32.00 first ATH

GPU 'rigs'(multiple gpu per mainboard) managed 0.6Ghash.. first asics were 60ghash
so the 2012 $12 became the late 2013 $1200 ATH

the 14Thash s9 become the 85thash s17
this pushed the 2017 ATH to be a 2021 of $65

right now miner owners are swapping out old gear where say if they had 1petahash
=12 asics of ~85thash at 2.9kwh each (34kwh total/h)
it becomes
=7 asics of ~140thash at 3.01kwh each (21.07kwh total/h)

this has caused the 2020 bottom window to drop from ~$25 to ~$15k
once you account for all costs

but that spare rack space and less electric used allows miners to expand and put another 41% on later this year to come back up to costs of last year

and then push further if they choose.. but we just are not at the trigger point of adding more asics.. we are still at the deficiency sway zone before the next hashrate push


thats where the dynamics play out

yes there are the utility factors, such as compared to fiat(inflation) bitcoin(deflation) offers many things
you can set up off shore fund holding without a bank manager/lawyer
you can set up family trusts without bank manager/lawyer
you can move more then $1k value without having to ask a bank or being questioned
some see the fee's as being worth 6 minutes of min wage labour.some see fee's as being a days labour

lots of different factors and reasons people like bitcoin more or less

aswell as factors already mentioned are the cost factors..
in hawaii, germany and japan. they have highest electric prices. and so they are not inclined to want to mine unless the price was high but they are willing to buy bitcoin at any price because any price is below their mining cost so they see the price as being great value at any price individually. its these less efficient regions where people are willing to buy for more than the low. because its still cheap value for them to buy. but even they have their limits. which is the ATH top window effect

all bitcoiners are bitcoiners..
those that have courage and wealthy pockets and risk takers will invest in hardware and if they are the more savvi,organised. their acquisition price would be at the low end
those less courageous and just want get in and out quick become buyers and sellers where they take the premium speculative route for the convenience, ease, preference

read through the bitcointalk posts of early 2010 when the first market places were opening where people were describing "price discovery" where even then 12 years ago they understood the min price being at or above mining cost

as for mining vs buying decisions its the same as
EG if you could buy land and plant an apple tree vs just going to a fruit market to buy an apple. which would you choose
EG if you could spend a couple weeks learning how to fish or going to market to buy a fish. which would you choose
convenience to just grab what you want when you want. or have to wait around for getting rewards

they all have reasons to want bitcoin and fight others to get it both in mining and on the markets.

if only a couple hundred people were interested then it, and most were of african decent where their disposable(spare/investable) income was small.. then yes the value line and price would be like a crappy PoW altcoin of low value and low price..

the more people interested, the more they are willing to buy/acquire, the higher everything goes due to the competition.

there are other factors at play in the markets

although in 2012 there were only ~11m btc in circulation. the price was about $6-$13
now there is 19m in circulation. but the price is not lower. as some think more supply =less price..
the thing is on the market there are not 19m coins on the market order books

what occurs if you check out the statistics is that most small investors (majority) only invest about $400-$600 per order
and with those holding bitcoin knowing the costs and prices go up. they dont just pander into buys demands of selling whole coins for $400-$600
instead they only offer out small decimals of coins

so when people think its a if there is $xbill fiat vs xk btc the numbers play out to that ratio.. they are wrong

..
there are alot of factors that play into price discovery but you will find that their triggers and reasons all fall back to the underlying costs to make it on the planet at the lows and highs.. where peoples buying demands fall within that window
and where no seller wants to sell below the bottom of the window. which creates a non-zero zone of no mans land that supports prices being above a non-zero amount. which currently sits at $15k.. and no one wants to buy above a certain amount which creates another no mans land line at the top where everyone gives up trading above.

in each country you can have both the urban or nature life. by choosing to live in the capital city or rural town
so all countries have this option

next up is climate
if you love heat. choose a location nearer the equator, at sea level ..if you love snow, choose further away from equator at elevated ground level

next up is economy
price of goods might seem cheap if you are arriving with life savings.. but once you acclimate to the economy and get a job you might find the job doesnt pay living costs
so the choice is to look at the different economies based on if you have savings to retire, or looking to work

up next is the social/political mood
is it a calm and peaceful country or unrest country

and lastly
social security/tax
is it a high tax low public service country or a low tax high public service country. do they expect you to pay tax to fund public service or pay public service instead of tax.. or.. coming soon.. where "money printing" by gov funds public service so people dont have to pay tax/service
..
im pretty sure someone can.. or probably has made a website that lists al 200 countries. and rates them in a system of the 5 measures i mentioned where people can put in their preferences and find the top scoring country of their preference

phase one is to ban it.. phase to is to then licence/permit it under rules. obviously if you dont follow the rules then you get punished to the same extent as the ban.

this is because its a presumed consumer protection where stablecoin ICO creators need to insure and ensure that the peg/swap rate is secure and reserves are held to honour the peg rate so that no one loses

i welcome that consumer protection where stablecoin ICO creators have to be audited and transparent about the reserves so that each pegged coin is actually backed by its rated amount

what you will start to see is stable coins have a "spread" that widens if the ICO creators spends/takes a fee

EG if its a 2% fee. then the market rate of stable coin is:
101 buy 99sell at a fixed stable rate
if the ICO creator steals/syphons 10%
then that spread widens
105 buy 95 sell at a fixed stable rate

my favourite phrase
WE are ALL unique.... just like everyone else

thus we all share the same thing

..
equality is thinking paying 2 people the same, even though:
someone that can lift 20 bricks per walk, on a construction site, thus get a brick house build 4x faster than someone who can only lift 5 bricks at a time

equity is thinking paying strong person upto 4x more then weak person

in-equality is thinking men deserve more then woman even though
if a woman can produce more work than a male counterpart, she still gets paid less

and yes.. if you read the construction site example and you imagined 2 guys hauling bricks.. you are wrong.. woman can haul bricks too