Might seem counter-intuitive but it is mining difficulty that drives price not the other way around.
How on earth did you come to such an erroneous conclusion? That makes zero sense.
Makes sense to me.
Mining ⛏ difficulty is the backbone of btc.
btc is created by converting energy to coin.
more difficulty means more power is needed to mine a coin.
thus the base value of a coin is determined by power needed to mine it.
He is making perfect sense.
Any one that does not agree simply should go for pos coins and leave this thread 🧵
how is that for fighting words.
Now I stand by that.
edit if you don't it means you don’t belong here as a btc person or a pow person or a satoshi person
second edit ✍️ it is okay if you don’t believe in the POW 💥 concept that satoshi coined when he first set btc into motion.
But the whole idea is energy is used to create wealth.
POW
not POS
The market forces set the bitcoin price.
It's simple supply and demand, and the market don't care about miners expenses.
If for some reason everybody decides tomorrow that they no longer want any bitcoin and sell them all, the price will go to zero, regardless of how much power the miners use.