By Bitcoin 杂志 - 1 年前 - 阅读时间：4 分钟
针对 Bitcoin, 情感和价值不是一回事
而 bitcoin’s price might be “down,” the metrics that indicate the growth of Bitcoin are on a true course to the positive.
这是 Mickey Koss 的一篇观点社论，他是一名西点军校毕业生，拥有经济学学位。 在过渡到财政团之前，他在步兵团呆了四年。
Sorry guys. Time to pack it up. Bitcoin died again.
只是在开玩笑。对于 Peter Schiff，我只是为了好玩而留下下面的黄金 10 年图表。过去 17 年增长了 XNUMX%，相当疯狂。我以为这些金人应该是低时间偏好的？
（资源： 宏观趋势)在我 原创文章, I discussed the difference between signal and noise and how mass media incentivizes clicks through misleading headlines. I decided to write a follow-up to discuss the Bitcoin value signal I’ve seen over the past week or so.
由于所有普通人都对最近跌破历史高点的市场崩盘失去了理智，我试图通过识别散布在互联网上的恐惧文章中隐藏的价值信号来保持客观。
价格与市值
做了一些研究 硬币市值, you can clearly see bitcoin’s price breaking the previous all-time high amid massive capitulation, liquidation and general bearish sentiment selling.
(硬币市值 比特币价格图表）如果将图表更改为市值而不是价格，它会描绘出略有不同的画面。
(硬币市值 BTC 市值图表）While the shapes are similar in appearance, if you dig into the numbers you can see the difference more clearly. In 2017, Bitcoin peaked at a $296 billion market cap with $14 billion in 24-hour volume. As of June 19, 2022, Bitcoin has bottomed (for now) at a market cap of $367 billion with $44 billion in 24-hour volume.
如果你在这段时间内平均美元成本，你不仅会在一个可信执行的、数字稀缺的网络中占据更大的份额，而且如果你有出售你的硬件的不可想象的冲动，你还可以访问一个更具流动性的价值网络。赚了硬币。
钱包、HODLers 和算力哦天哪
（资源： Glassnode见解)钱包的增长似乎也在上升。右尾有一点点噪音，趋势明显向右上方，过去两年增长了近 45%。
（资源： Glassnode见解)In addition to nonzero wallet growth, wallets with 0.1 to 1 BTC have been on the rise since July 2021. In my eyes this indicates the steady growth of the serious pleb-level investor, rather than a pattern of panicked tourists leaving the market. Perhaps skin in the game incentivizes the proof of work required to learn the value of bitcoin rather than focusing on price alone.
（资源： Glassnode 推特)In terms of HODLers, the amount of bitcoin held by long-term holders increased by nearly 20% since April 2021 and has remained relatively constant, even with the slow grind down from the all-time high last fall. This doesn’t look very bearish to me. The ones who sold barely made a dent in long-term holder supply.
最后一个是算力。有很多关于的耸人听闻的文章 哈希率下降 和矿工投降。但如果你真的读过这篇文章，你会发现它并没有那么令人震惊。算力已跌至近……四个月以来未见的低点。令人震惊、可耻。
Will Clemente paints a darker picture, yet my conclusion is still the same. If I remember correctly, Bitcoin was still secure two years ago and was able to avoid attack and exploitation. As miners fall off the network, difficulty should adjust downwards over the coming weeks, making it more profitable for those who are able to hang in there. It’s a self-correcting system.
Bitcoin is not just secured by a wall of pure energy through the miners. It is also secured by a massive army of scarce and expensive computing equipment; The equipment is scarce as well.
即使您奇迹般地拥有了攻击网络的电力基础设施，祝您好运，获得计算能力。我想我们会没事的。
Even with the recent downturn in hash rate, the macro trend is still up and to the right. As Nico from Simply Bitcoin likes to say, incentives are stronger than coercion. Incentives take time to play out. Don’t let the short-term noise scare you out of your position.
停止喂养鲸鱼
“我们少数，我们幸福的少数，我们一帮兄弟； 因为今天和我一起[持有他们的筹码]的他将成为我的兄弟”—— King Henry V on Bitcoin, 大约 1599 年
（资源： Glassnode见解)停止喂鲸鱼。随着商人和游客恐慌抛售并获得他们的货物 清算，鲸鱼开始大餐了。什么是他们知道而你不知道的？他们看到采用率几乎每天都在增长。
沃伦·巴菲特说，当别人贪婪时我要恐惧，当别人恐惧时我要贪婪。怎么样：平均成本，贪婪而不管其他人的想法或感受。 （当每个人都吓坏了的时候，也许有点额外贪婪，就像现在一样）。
永远不要忘记美元的不断贬值。在大公司开始真正弄清楚之前，抢占绝对稀缺的数字房地产的所有权。我知道这就是我要做的。如有疑问，请保持冷静，缩小并堆叠卫星。
这是 Mickey Koss 的客座帖子。 所表达的意见完全是他们自己的，不一定反映 BTC Inc. 或 Bitcoin 杂志。
原始来源： Bitcoin 杂志