Brian Armstrong(@brian_armstrong):Interesting point. The first one feels temporary. The second one more durable. But hash power or energy going to Bitcoin mining doesn't determine its price (the network difficulty adjusts if miners go offline to keep the same pace of block mining). Long term, Bitcoin price is mostly a measure of how much people fear inflation, and there seems to no end in sight to democracies everywhere running deficits.

Brian Armstrong

@brian_armstrong

Co-founder & CEO @Coinbase. Creating more economic freedom in the world. Co-founder @researchhub @newlimit. Not investment advice.

Joined April 2008

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Brian Armstrong@brian_armstrong

2026.07.20 01:57

Interesting point. The first one feels temporary. The second one more durable. But hash power or energy going to Bitcoin mining doesn't determine its price (the network difficulty adjusts if miners go offline to keep the same pace of block mining). Long term, Bitcoin price is mostly a measure of how much people fear inflation, and there seems to no end in sight to democracies everywhere running deficits.

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