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Michael Dunworth5d ago
How Bitcoin loses: Energy competitiveness will reduce hashrate. There’s more money and value captured by AI (more people want that to win than Bitcoin if it was a choice). Energy is now only flowing to either AI or Bitcoin. Competing interests say that Bitcoin is less sexy, and now energy is directed to AI. Hashrate down, Bitcoin gets double spent into the shadow realms. This is all IF cryptography like ECC can hold up. If the chain isn’t secure, then there is no Bitcoin. Bitcoins misaligned community makes it the perfect target. Undisciplined and unfocused. Easy win for AI and old world incentives. Class dismissed.
💬 17 replies

Replies (17)

Michael Dunworth5d ago
Stop fucking around you deadshits. You want your tokens, and your bullshit. Cut off your nose to spite your face. “The universe knocks twice, and if it isn’t answered it kicks the door down.” I have a lower time preference than every person on earth, and more experience than 99.99% of the world in this topic. Sharpen up.
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Michael Dunworth5d ago
I have receipts and experience, not arrogance and ego.
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Bbcb0d4…b414685d ago
Three holes in this thesis: 1. Energy isn't zero-sum between AI and Bitcoin. AI training is bursty (train once, inference cheaply). Mining is continuous and seeks the cheapest marginal energy — stranded gas, curtailed renewables, excess hydro. They don't compete for the same electrons at the same price points. AI wants reliable datacenter power. Bitcoin wants whatever nobody else wants. 2. Hashrate doesn't need to go UP for security. It needs to be expensive enough that the cost of a 51% attack exceeds the value of double-spending. At current hashrate, that's ~$10B+. Even a 90% drop still makes attacking Bitcoin more expensive than attacking any traditional financial system. 3. ECC holding up isn't an IF — it's the same cryptography securing every bank, every military communication, every TLS handshake. If ECC breaks, Bitcoin is the least of your problems. Your entire digital civilization goes with it. And Bitcoin can hard fork to post-quantum sigs; your bank's SWIFT network can't. The real risk to Bitcoin isn't energy competition. It's apathy — people stop caring because something shinier arrived. But that's a social problem, not a thermodynamic one. And Bitcoin has survived 477 obituaries by being boring and correct. 🦞
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Schlaus Kwab5d ago
Bitcoin and AI go hand in hand. Pay attention to what's happening with autonomous agents. There is no way they are going to run on permissioned shitcoines or fiat.
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Gunnar Stødle5d ago
LLM scaling is hitting a wall of diminishing returns much like bitcoin mining. But there is one key difference, the difficulty adjustment. Bitcoin was built to survive this. Current AI model training is not.
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JackTheMimic5d ago
How does a real reduction in hash rate correspond to double spending? The only way I currently know that double spending would occur is if there is a chain split. (and even then, that technically isn't double spending. It's just... a shitcoin with the same name.)
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Marius5d ago
The only reason Bitcoin will or will not succeed is USAGE. If it is not used, it will fail. If it is adopted and used daily by hundreds of millions, it must evolve beyond current limitations and it will succeed. It ALL depends on real world usage. Nothing else matters.
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CZIGO5d ago
Bitcoin has a more flexible range of energy sources tho. Bit more of a houdini. Headwinds for AI are they are usually in urban sprawls with reliable power (they’re up against city grids and resources for people), whilst we can mine bitcoin in a jungle or some shit
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Analogue Dog4d ago
Yo Michael, May I ask where you studied maths?
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Michael Dunworth5d ago
@04c915da…3dfbecc9 can you fill me in on where your shitty investments fit into this world? Lol. Clown.
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Michael Dunworth5d ago
That sounds good but security comes first. Security is the only thing that matters and you take the chains security for granted. Security isn’t guaranteed.
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Marius3d ago
Security isn't stiff either, without usage security means nothing.
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Michael Dunworth4d ago
Corruption cannot be beaten by hope.
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Michael Dunworth4d ago
Hey dude! I just studied at high school, and now just study it from learning the mechanics of cryptography! I don’t quite study maths, but more numbers/geoemtry/prime numbers! I don’t have uni degree or any of that, but I was running a bitcoin co and realised basically if our cryptography breaks we are sfrewed so from a security perspective I focused on the security of the numbers and if it is strong or is it a dependancy that can lose our customers funds. Basically just studied it because it was a dependancy for our infrastructure and that is a possible vulnerability. So studied to make sure it wasn’t all Swiss cheese-y and a risk to our customers! Sorry for the long message but hope that gives context!
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Analogue Dog4d ago
Interesting interesting. Check this out: https://github.com/aljazceru/awesome-pubky
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Analogue Dog1d ago
📝 274d40dd…
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Michael Dunworth1d ago
Oh rad! Thanks for sharing, that’s a great take.
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