don’t mind me just posting a video where Preston Pysh interviews Michael Saylor talking about how ASICs getting better means they consume less energy imagine trying to clown ”fake experts” while delivering a sub-2 IQ yourself, holy shit (rt’d by Preston *today*)

like i can understand if you erronously thought this was a good clip when you recorded it last year and then someone told you it was the most retarded take on mining they ever heard and you learned from it but wtf are you doing retweeting this garbage now??

mining 101: there is a block reward. people burn electricity to try to earn that block reward. if ASICs get better, difficulty goes up. the network still burns electricity until profit margins approach 0. better ASICs *don’t* decrease electricity use.

that brad has been in bitcoin for 12 years still has amoeba-level understanding of the basics of bitcoin is neither new nor surprising, but @saylor is a key member of the Bitcoin Mining Council (!?) why does NO ONE in his surrounding correct him on the most basic shit?

oh god. i just remembered @PrestonPysh is the brainlet who kept telling people that @saifedean could ”crush” people using Stock-to-Flow and cointegration. icing on the cake is assuring people BTC was ”completely uncorrelated” a few months before covid.

video link seems bugged, here it is:

@PrestonPysh The amount of energy necessary to generate a given hash rate has fallen from 1250 J/TH to 21.5 J/TH in approximately 8 years ~ 98% reduction in energy use for an equivalent amount of security. Network efficiency is radically improving. See pages 12-13.

@PrestonPysh > equivalent amount of security Bro, the *amount of hashes* or the energy to generate one is not a metric of security. It is the amount of money/resources (electricity+hw) spent that defines security. The number of hashes is immaterial. After a year, you should have learnt this.

@PrestonPysh @saylor You're far more surprised about this than you should be I think. When it comes to understanding BTC, Saylor is an idiot. Most maxis are idiots. It's sad but it's also true, and I see it daily when maxis discuss with people who have moved on from Bitcoin.

@PrestonPysh @saylor This is Eric's weekly "making a point for the sake of making a point" quota.. I'm waiting for next week's random half, correct half nonsense take.

@PrestonPysh @saylor preston is dumb af