⚠️ QUANTUM DOOM ⚠️ Bitcoin is dead. Again. Or… we could explain how quantum computers actually work and what the real threat is. 👇🧵

Got asked a great question at Mining Disrupt this year: "What unique knowledge do you have about bitcoin mining, energy markets, and related topics that's widely misunderstood?" Here's what I said:

DID YOU KNOW that before Coca-Cola ads, Santa wasn’t red? For centuries he was most often shown in green or brown. The power of propaganda. Merry Christmas 🎄

Bitcoin network hashrate every Christmas Eve: 2009: 9 MH/s 2010: 108 GH/s 2011: 8 TH/s 2012: 22 TH/s 2013: 9 PH/s 2014: 271 PH/s 2015: 709 PH/s 2016: 2.3 EH/s 2017: 14 EH/s 2018: 39 EH/s 2019: 99 EH/s 2020: 134 EH/s 2021: 177 EH/s 2022: 240 EH/s 2023: 521 EH/s 2024: 779 EH/s

Christmas Day bitcoin difficulty adjustment: +0.04% The last adjustment of 2025. Had difficulty dropped, it would've been 4 decreases in a row for the first time since 2021. But miners kept adding hashrate despite the bearish mood.

Something that was different this bitcoin cycle: The price of bitcoin miners did not skyrocket like it has done in past bull markets. Not only has it not skyrocketed, Bitmain is having to slash prices severely in order to sell units.

Last year, oil companies flared enough gas to power bitcoin 10x over. The great thing is that bitcoin miners can show up anywhere with a generator and use that stranded gas, turning it from a cost into a revenue generator for oil companies. Bitcoin mining isn't "wasteful", it's

Bitcoin mining difficulty every New Year's Eve: 2009: 1 2010: 14,500 2011: 1,160,000 2012: 2,980,000 2013: 1,180,000,000 2014: 40,600,000,000 2015: 93,400,000,000 2016: 318,000,000,000 2017: 1,870,000,000,000 2018: 5,100,000,000,000 2019: 13,000,000,000,000 2020:

These are the “Magic 10” Under the Trump administration, this group turned Bitcoin from a regulatory target into a governed asset class in 2025, across multiple agencies. Let’s break down what each one actually did. 🧵👇

The capture and extradition to the US of Nicolas Maduro is great news for Venezuelans everywhere. A communist dictator who destroyed one of the wealthiest countries in Latin America is finally facing justice. I'm genuinely happy for every Venezuelan who had to leave their home

Bitcoin mining difficulty just adjusted down by 1.2%. That's five negative adjustments out of the last seven. Some relief for miners after the Q4 price slump.

Bitcoin is up 2,653% in Iranian Rials because the currency is collapsing. Iranians who held bitcoin preserved their wealth. Iranians who trusted their currency lost 96%. Everyone deserves money their government can't destroy.

A while back Chamath Palihapitiya suggested hyperscalers should pay some of local communities' electricity costs so they can build data centers nearby. Now Microsoft is doing exactly that, vowing to pay higher rates to "shield locals" from AI data center costs. But is this just a cheap PR

How it started vs how it's going:

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Bitcoin is 300 blocks away from a -13.37% difficulty adjustment. The biggest decrease in difficulty since the China mining ban.

Bad news: bitcoin hashprice hit an all-time low of $27.2/PH/day. Good news: there's a 13% difficulty decrease coming in ~200 blocks. The bitcoin difficulty adjustment is the most elegant self-regulating mechanism in any network, ever.

Unpopular opinion: you have to be braindead to use WhatsApp in 2026. I remember in Summer 2023 at the Miami Mining Disrupt Conference, how I activated microphone permissions for WhatsApp to send a voice message to a CEO of PubCo miner in USA. I forgot to turn that permission

It's official: bitcoin just had its biggest downward difficulty adjustment since the China mining ban in 2021. This has helped make up for the loss in $ revenue that miners will be experiencing from the recent price dump. Hashprice is currently $35/Ph/day from an all-time low

So SpaceX wants to build data centers in orbit because Earth supposedly can't meet AI's power demands. I think that's the wrong framing entirely. We're not running out of power. We have enormous amounts of stranded energy around the world that nobody can use because the grid