BBO_x34

bitcoin_Mining

Got a Bitaxe

Around 50-55°C normally, now closer to 60°C with the heat wave in Europe. 

@BBO_x34's bio

Been running this thing for like 2 months now. Thought I'd share some random thoughts since people keep asking about it.

## The Numbers Are Brutal

Made about $4 in Bitcoin. Spent probably $15 in electricity. Math is not mathing but whatever. 

Wife keeps asking why I'm paying money to heat the office. Hard to explain that I'm "participating in the network" when she sees the electric bill.

Actually found a share yesterday that took like 6 hours. Variance is wild on these small miners. Sometimes you hit 10 shares in an hour, sometimes nothing for half a day.

## Pool Hopping

Started on Ocean, moved to Braiins for a bit, now back to Ocean. Honestly can't tell much difference in payouts. We're talking about fractions of fractions here.

Tried CK Pool too but their minimum payout is annoying for something earning pennies. Took forever to reach the threshold.

Some guy on Twitter is solo mining with his Bitaxe. Absolute madman. Respect though. If he hits a block I'll probably buy 10 more of these things immediately.

## Firmware Updates

They keep pushing updates. Usually install them, sometimes forget for weeks. Hard to tell if they actually improve anything at this scale.

Latest one supposedly improves efficiency but my hashrate looks the same. Still bouncing around 380-420 GH/s depending on temperature.

## Random Stuff I've Noticed

Room definitely gets warmer. AC is needed now. 

The thing has been running 24/7 for months with zero issues. More reliable than my WiFi honestly.

LED color changes based on status. Red when something's wrong, green when happy. Very simple.

Sometimes the web interface crashes and you have to restart it. Not often but happens.

## People's Reactions

Showed it to my neighbor. He asked if it was a router. Then asked if I was making money. Had to explain I'm basically paying for a very expensive space heater that occasionally finds digital pennies.

My kid thinks it's cool that it's "making Bitcoin" even though I've explained it's more like playing the lottery every second.

Tried explaining difficulty adjustments to my uncle. His eyes glazed over. Just told him it's a computer that helps keep Bitcoin secure.

## The Addiction

Check the stats way too often. There's this little dopamine hit when you see shares being found. Completely irrational given the amounts involved.

Started following difficulty adjustments more closely. When it goes up, my already-tiny rewards get tinier. When it goes down, I feel like I'm winning even though nothing changed.

## Technical Stuff

Temperature sits around 50-55°C. Seems fine. Fan noise is minimal.

Power consumption is steady at like 14 watts. About the same as an LED light bulb.

WiFi connection has been solid. Was worried about that since my router is upstairs.

## Is It Worth It?

No. Obviously not from a financial perspective. 

But it's fun in a weird way. Like having a pet that costs money and occasionally poops out satoshis.

Also feels good to contribute to decentralization, even in this tiny way. Every hash matters or whatever.

## What I'd Do Different

Maybe buy two next time so I can try solo and pool simultaneously.

Definitely get a better desk fan for summer. This thing plus computer plus monitors made the room pretty toasty.

Should have started tracking exact costs from day one. Now I'm just guessing on electricity usage.

## Bottom Line

It's a toy. An expensive, electricity-consuming toy that makes me feel like I'm part of the Bitcoin network.

Will probably keep running it until it breaks or I get bored. Neither seems likely soon.

If you're thinking about getting one, just know what you're getting into. You're not starting a mining business. You're buying a very expensive lottery ticket that also functions as a space heater.

But hey, maybe I'll get lucky and solo mine a block. Probably not. But maybe.

## Current Status

Running Ocean pool, ~400 GH/s, earning about $0.05/day, spending $0.20/day on power.

ROI: never
Fun factor: surprisingly high
Wife approval: low but tolerating

Cypherpunk building parallel systems | Bitcoin maximalist | Privacy advocate | "A pesar del sistema, construiremos nuevas comunidades" | Barcelona

bitcoin

Look, I've been thinking about this whole HODL vs circular economy debate, and honestly, most people are missing the point. Everyone's acting like we need to pick sides, but maybe the real question is: can we actually HODL our way to hyperbitcoinization, or are we just deluding ourselves?

**TL;DR**: HODLing works great for pumping the price, but it's probably not enough by itself to flip the global monetary system. We likely need both diamond hands AND people actually using Bitcoin as money.

## Why HODLing Actually Makes Sense (Even If It Sounds Dumb)

Let's be real - the HODL meme exists for a reason. Bitcoin has a hard cap of 21 million coins. Period. No central banker can print more when they feel like it. So when a bunch of us decide to never sell, basic supply and demand kicks in hard.

The math is pretty simple: if demand goes up and supply stays the same (or even decreases because people lose their keys), price goes up. And unlike every other asset in existence, Bitcoin literally cannot increase its supply no matter how high the price gets. Try explaining that to your gold-mining buddies.

But here's where it gets interesting - every time someone new buys Bitcoin, it makes everyone else's Bitcoin more valuable. It's like a network effect but for money. Facebook gets more useful when your friends join. Bitcoin gets more valuable when your friends buy some.

This creates what game theorists call a "coordination game" - if everyone expects the price to go up, it becomes rational to buy and hold, which actually makes the price go up. It's a self-fulfilling prophecy, but with sound money.

## The Numbers Don't Lie - HODLers Are Winning

Right now, about 70% of Bitcoin hasn't moved in over a year. Almost half hasn't moved in three years. Think about that - while the price went from $15k to over $100k, most people just... didn't sell.

Even crazier: during this latest run to six figures, fewer coins are moving than during previous bull runs. Usually when price moons, people start selling. This time? Different. The HODLers have literally diamond-handed through a 10x.

And it's not just retail anymore. MicroStrategy owns over 580,000 Bitcoin and they're not selling. Ever. El Salvador keeps buying. ETFs are sucking up supply. These aren't weak hands - they're institutions with decades-long time horizons.

## But Wait - There's a Problem

Here's the thing that keeps me up at night: if everyone just HODLs forever, does Bitcoin actually become money? Or does it just become really expensive digital gold?

The volatility is still insane. Bitcoin moves 10x more than major currencies. You can't price a coffee in Bitcoin when it might be worth 20% more or less tomorrow. No merchant wants to deal with that.

And if nobody spends Bitcoin because they're all HODLing for number-go-up, how does it ever replace fiat? We end up with the world's most expensive collectible instead of peer-to-peer electronic cash.

There's also this coordination problem. The HODL strategy only works if enough people do it. But there's always an incentive to be the first one to sell - especially when you're up 100x on your investment. Game theory says this coordination can break down.

## The Circular Economy Crew Has a Point

Look at what's happening in El Salvador, or Bitcoin Beach, or some of these other places where people actually USE Bitcoin daily. They're not just HODLing - they're earning in Bitcoin, spending in Bitcoin, building businesses around Bitcoin.

The Lightning Network is finally making this possible. Near-instant transactions for pennies. You can actually buy coffee with Bitcoin now without waiting 10 minutes or paying $20 in fees.

These circular economies solve the utility problem. Instead of just hoping Bitcoin becomes money someday, they're making it money right now. Local businesses accept it, people get paid in it, kids are learning about it in school.

## The Real Answer: Why Not Both?

Here's my take after going down this rabbit hole: we probably need both.

The HODLers provide the foundation. They create scarcity, drive up the price, and give Bitcoin the monetary premium it needs. Without them, we're just another altcoin that pumps and dumps.

The circular economy people provide the utility. They prove Bitcoin actually works as money, build the infrastructure, and create real economic value beyond just speculation.

Think about it like this: the base layer is for HODLing and settlements. Lightning and other layers are for spending and daily use. You can have both.

## What the Smart Money Actually Thinks

Michael Saylor thinks we should just HODL Bitcoin forever and use it as collateral for everything else. He's probably not wrong for institutions and treasury reserves.

Jack Dorsey thinks Bitcoin fails if it's not used for payments. He's probably not wrong either - money that doesn't move isn't really money.

The truth is probably somewhere in between. Different people in different situations need Bitcoin to do different things. Rich people and institutions can afford to HODL. Poor people in countries with broken currencies need to actually use it.

## The Path Forward

Look, I'm not saying stop HODLing. Keep stacking sats. Keep those diamond hands strong. The supply shock is real and it's working.

But maybe also think about using Bitcoin sometimes? Support businesses that accept it. Try Lightning Network. Help build the circular economy.

Because at the end of the day, hyperbitcoinization means Bitcoin replaces fiat money. And money that only goes up but never gets used isn't really money - it's just a really good investment.

The endgame probably looks like this: a solid base of long-term holders keeping the price stable and providing monetary credibility, plus a thriving ecosystem of people actually using Bitcoin for commerce, payments, and daily life.

We don't have to choose between being digital gold or digital cash. We can be both. That's the real superpower of Bitcoin - it's programmable money that can serve multiple functions at the same time.

So yeah, keep HODLing. But maybe also spend and replace sometimes. The circular economy isn't going to build itself, and pure price appreciation without utility might not be enough to flip the entire global financial system.

Just my two sats. What do you think?