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Bitachon𐤊
10.7K posts
Bitachon𐤊
@BitachonHashBTC
The only constant in life and technology is change. Adapt or be left behind @kaspacurrency All in on $KAS
Kensington, London Beigetreten Ağustos 2022
642 Folgt2.3K Follower
Bitachon𐤊 retweetet
What's genuinely sad about most #bitcoin maxis is that they do not see themselves as the reactionaries they have become. Crypto was created to disrupt the status quo, but they just maintain a new one. Yet they still think that they are carrying out Satoshi's vision.
#maxitears
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Bitachon𐤊 retweetet
$KAS has gained 26% in one week, becoming the best-performing of the 100 biggest cryptocurrencies by market value. reports @godbole17
trib.al/Kai3nst
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Bitachon𐤊 retweetet
@sillystev4 @MarathonDH $KAS is a fair launched proof of work 6000x as fast as BTC with smart contracts imminent
Product of over 10+ years of research by #BTC OGs and inspired tech for many projects including $ETH and $XRP
#Kaspa is the most bleeding edge iteration and implementation of the research
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Bitachon𐤊 retweetet
Regarding @MarathonDH mining $KAS
Two things to note:
1) They started evaluating $KAS in May 2023
2) To date, they have only mined 93M $KAS, or $15M USD worth of $KAS
In the last 24 hours alone, total trading volume for $KAS was $98.2M, 6.5x the total $KAS holdings of $MARA
Therefore, the amount of $KAS that $MARA has is negligible, given the current daily trading volume
I only point this out to alleviate fears that corporate interests have the capacity to dump large quantities on the market--they don't. Why?
$KAS was fair launched and has 84% of the supply already in circulation, and the mining rewards drop EVERY MONTH (unlike #BTC's 4 year halving schedule)
For the first 18 months, $KAS was only mined by ordinary miners on GPU/CPU, as was the plan by the devs from the beginning--they specifically chose a unique algorithm for which no ASIC miners existed (so no large #BTC miners, like @MarathonDH, could immediately mine #Kaspa from the outset).
This allowed for excellent distribution of coins among the overall mining community, allowing easy access to people who simply mine on computers at home.
Further, because of this brilliant tokenomic design by @hashdag, @DesheShai, and @MichaelSuttonIL et al, the value is correspondingly designed to appreciate as the supply becomes more scarce more quickly than #BTC. At 84% dilution at present, and rewards dropping every month, MINERS NEED PRICE TO APPRECIATE LONG TERM TO MAINTAIN THEIR PROFIT MARGIN.
It's the same idea as the #BTC 4-year halving, but on a rapid schedule. And DEMAND has been there to support the rapid emissions the whole way, as evidenced in the chart.
Therefore, it's very clear that $MARA knows exactly what it's doing, sees value long term, and is clearly HOLDING most of their coins (which nonetheless, are a small percent of the daily trading volume for $KAS).
If you consider all this, it is massively bullish for $KAS that a #BTC only mining company like @MarathonDH is deciding to add $KAS to their balance sheet.
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Bitachon𐤊 retweetet
Let us imagine a world where $kas is as big as Bitcoin, what would that mean for small miners? Let's do some rough back-of-the-envelope calculation.
The going rate of an Antminer S19 is around 1350$, and it provides about 115TH/s. So mining BTC roughly costs around 12$ per TH/s (for a small miner buying retail ASICs, but let's assume for now that's everybody). Multiplying by BTC's global HR of 650M TH/s we get at a total capex of about 7.8B$.
BTC produced almost exactly 1000 blocks a week, so for an average weekly revenue a solo miner or pool needs 0.1% of the total HR which costs about 7.8M$.
In 10BPS there are 6000 more blocks so this cost drops to about 12000$. Not pocket money but definitely not corporate only sums. In 100 BPS this drops to 1200$ for a weekly block or 300$ for a monthly block.
But what about energy? The S9 consumes around 23J/TH, so roughly 2W/h per 1$ of capex. In comparison, a KS3 costs around 3000$ and produces 6TH/s, so we have about 500$ per TH/s. It consumes about 3200 W/h which is about 500W per TH/s or about 1W/h per $1 of capex. So they are in the same order of magnitude.
So in Bitcoin, mining a weekly block requires running 7.8M$ hardware which requires around 15000 kW/h, whereas in 10BPS Kaspa, it would require about 12000$ and require about 12 kW/h, which is roughly equivalent to constantly running 12 washing machines. Again, not pocket money, but far from corporate only.
Bear in mind that this computation assumes that the capex/opex ratio of Kaspa and BTC miners remain fixed. However, the W/$ ratio tends to improve over time as hardware becomes more efficient. ASIC manufacturers now have more than a decade of experience designing SHA256 miners compared to less than two years designing kHH miners. Given that Keccak is designed to be much more ASIC friendly (and maybe even the prospect of optical miners) I predict the ratios will constantly improve in Kaspa's factor.
* Remember these are back-of-the-envelope computations, carried to give a sense of scale and not definitive numbers. Using other ASICs as metrics if comparison would yield different results, but in the same order of magnitude.
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Bitachon𐤊 retweetet
@MHiesboeck To me, the trap of maximalism is mostly set for bitcoiners, and its their challenge to overcome it despite being "first". Any other following technology necessarily acknowledged that maximalism is wrong
x.com/MichaelSuttonI…
Michael Sutton@michaelsuttonil
A reminder and letter to my future self: one day, when smart people succeed on evolving things you worked on and take it a step further, never forget to stay humble, to ask genuine questions and to publicly appreciate their findings if so deserved
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Bitachon𐤊 retweetet
Once only a #Bitcoin mining conglomerate, and the largest $BTC miner - Marathon (NASDAQ: $MARA) has mined 93M $KAS #Kaspa ($15M) since September 2023.
Who owns MARA stock?
- VANGUARD
- BLACK ROCK
- JANE STREET
- SUSQUEHANNA
coindesk.com/business/2024/…
More info below...
1/4🧵
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Bitachon𐤊 retweetet
Bitcoin miner @MarathonDH is diversifying its revenue by mining $KAS token of @KaspaCurrency. It has already mined about $15 million worth of token since September. by @Aoyon_A
trib.al/VXW75d0
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Bitachon𐤊 retweetet
I acknowledge the possibility that someday a tech better than $kas might come along. This is exactly what drives us to constantly improve. However, such a tech would not come from doing something that is "better than DAG" for the simple reason that *everything is a DAG*. A DAG is the most general way to describe discrete causality. Any other structure you know -- chains, trees, parallel chains, chainweb, blockflow and yeah, even lattices -- are all special cases of DAGs.
Imposing a structure on a DAG makes it more tractable computationally, but erases useful information. A consensus based on a structured DAG will never be as responsive as one using a structureless DAG. It might be that some smart trade-off could improve efficiency through the roof while only sacrificing information of very little use, that would be cool. But current lattice techs do not achieve anything of the sort. Will they ever? I guess we'll have to wait and see.
Dr Martin Hiesboeck@MHiesboeck
Here is an explanation of why I think being a maximalist for anything including $KAS is dangerous. We now recognize #Bitcoin is a very limited, and perhaps flawed and ultimately doomed old technology. We hail the #blockDAG as the holy grail that solves the blockchain trilemma. But what this technology still needs is a sequence of blocks and the sequence of transactions. The order of things is still central to this way of thinking. However, pioneers of Blockchain technology, who think that the order of the blocks doesn’t really matter. DAGs have many mathematical problems and unintended consequences not fully explored. Academics are continuously searching for alternatives. What if I told you there is a technology that doesn’t care when and where a block is created and can always process it no matter how it enters not the blockchain but the Lattice. It is still in development and hasn’t proven its mettle in the real world, but that was the case once upon a time for bitcoin and only two years ago for Kaspa. At the heart of Convex lies a two-layer lattice system, the global state lattice, a secure layer acts as a public, foundational network, ensuring consensus amongst participants and a scalable and verifiable storage layer efficiently stores vast amounts of data using content-addressable storage and Merkle DAGs. This allows Convex dAppe to leverage virtually unlimited off-chain storage by linking value IDs directly from the Global State Lattice. What if this turns out to be superior to anything Kaspa has to offer ? What if in the years time smart contracts on KAS still don’t work as advertised while there are suddenly 10 new lattice computing chains dominating the conversation? 🤷♂️ What if artificial intelligence comes up with yet better solutions that will stun the world. 🤷♀️ Blockchain development isn’t a pissing contest. It is a continuous quest for improvement. It never stops. Human ingenuity knows no bounds. We live in a decentralized globally connected world where millions of people have an opportunity to contribute to the advancement of science. Nothing will ever be the last word on anything. That is the beauty of it. Don’t get stuck with what you think is the Holy Grail! There is no holy grail. The holy story was an invention of a French trouvère called Cretien de Troyes. We must come together to build a multichain future together. Maximalism of ANY kind is poison. And if all you care a little about is the US$ price of your pet token, you don’t deserve a seat at the table.
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Bitachon𐤊 retweetet
Yo $kas fam, I really appreciate you having my back and you know I love the conviction. But not every time I disagree with someone means that they are morons and/or have ulterior motives. Being too aggressive can easily deter people from participating in what could otherwise be a productive discussion, even if the other party initially has a dismissive disposition, or external interests to put Kaspa down. There is usually no need to call people out, the quality of our project speaks for itself. We are no longer a microcap fighting for its existence, we are arguably the third largest (and objectively the most awesome) community in crypto space. Now it is the time to leave the survivalist mode behind, be chill, and find more wholesome ways to show our love for the project ❤️
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Bitachon𐤊 retweetet
Bitachon𐤊 retweetet
$KAS is top gainer the last 24 hours and last 7 days...
New all time highs incoming and we are entering the $0.20's.
Top 10 soon 🎯
Thanks @MarathonDH and @saylor
#BTC and $KAS MAXIS REJOICE
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Bitachon𐤊 retweetet
Marathon Digital is officially mining #Kaspa.
For the moment they are allocating 1% of their energy towards it, but this will grow over time as it becomes harder to ignore the elephant in the room that is #Kaspa.
The game theory is playing out perfectly.
Plan𐤊@MikoGenno
#Kaspa's hash rate has been going parabolic recently. Marathon Mining, the largest publicly traded mining company in the world, recently shared the stage with @KaspaCurrency at the world digital mining summit 2024. Is this a coincidence? Possibly. But it is a matter of when, not if.
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Bitachon𐤊 retweetet
Today we're announcing that we have been actively mining Kaspa.
Diversification has been key to our investments in energy solutions and tech innovations, and it remains crucial in our digital asset compute operations. Read the full press release: ir.mara.com/news-events/pr…
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Bitachon𐤊 retweetet
$KAS holders are feeling vindicated today
Now many of the die hard #BTC maxis who have resisted giving $KAS a hard look are going to finally take a harder look at what @MarathonDH sees in @KaspaCurrency
You rarely get a shot to ride a coin into the Top 10 or Top 5 📈
MARA@MARA
Today we're announcing that we have been actively mining Kaspa. Diversification has been key to our investments in energy solutions and tech innovations, and it remains crucial in our digital asset compute operations. Read the full press release: ir.mara.com/news-events/pr…
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Bitachon𐤊 retweetet
Welcome to the community, @MarathonDH ! We’re just getting started. #energySolutions #kaspaMining ir.mara.com/news-events/pr…
MARA@MARA
Today we're announcing that we have been actively mining Kaspa. Diversification has been key to our investments in energy solutions and tech innovations, and it remains crucial in our digital asset compute operations. Read the full press release: ir.mara.com/news-events/pr…
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Bitachon𐤊 retweetet
There’s a reason $KAS is green.
$KAS is coming for top 10 this cycle and for good reason.
You’ve seen @KaspaCurrency around by now, do yourself a favour and do your Damn research.
Everyone claims to be revolutionary. This actually is, and price is reflecting it.
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Bitachon𐤊 retweetet
I’d rather hold $KAS than anything else in the industry
Fundamentally superior to all else if you consider the origin story of #Bitcoin and what the original innovation was that started this industry—decentralized, peer-to-peer electronic currency
#BTC was the first successful medium of electronic value exchange, but its utility is capped due to slow tx speeds and expensive fees that make it useless for every day spending, like food, travel, entertainment, reconciling with friends and family, etc.
$KAS picks up the torch and advances the original innovation that #BTC brought, by staying aligned with the ethos of #BTC (fair launched, proof of work), but adding the ability to scale via fast and inexpensive tx’s, only possible on the cutting edge 1 and 10 block/second kaspa network (eventually 100 bps)
It’s truly stateless money that can scale, and no doubt #Satoshi would be proud of what has been created, and if they are still around, you know that they are watching it unfold, because in many ways, it is more #BTC than #BTC—truly electronic cash, useful for everyday transactions, especially with smart contracts and stables coming
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Bitachon𐤊 retweetet
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Bitachon𐤊 retweetet
