Elon's tweets may have made the L7 the most profitable miner in terms of purchasing power earned since it was released.

I sold a L9 on June 20th for $12784. I listed them today for $18,369.

They appreciated that much because of Elon's tweets

I don't know what to make of it. I can't confidently say that buying a $18,000 miner is a good idea, but for a lot of people, it was one of the smartest or luckiest things they ever did last cycle with the L7.

For example, the last gen SHA 256 miner equivalent of the L7 is the S19 J pro which is worth $500. Part of the reason is SHA 256 has more people mining it because Bitcoin has more value than being a meme coin that Elon tweets about (Which he refuses to tweet about).

Probably because all the billionaires are front running everyone and are waiting to have positions before Elon starts tweeting it.

But this is the world we live in. Technical analysis based on speculations of what Elon might tweet and how it impacts mining economics.

I might be making the same mistake but I find it hard to bet on memecoins. I'm looking at my broken J Pro sitting next to my desk imaging it being a L7 🤣.

I would not be surprised if L9s are a great purchase. The guy who bought it for just under $13k feels like a genius 🤣🤣.

What all this goes to show is the power of information channels, influential tweets, emotional reactions to things, market inefficiencies, and hardware manufacturing constraints.

Scypt miners likely make up a small portion of Bitmain's miner sales

I don't see why they would have an incentive to flood the market with hash in the same way they do with SHA 256. Larger miners are less likely to want to justify mining Elon's meme coin.

The circumstances in mining can change at a drop of a hat.

But there's a serious potential for Bitcoin mining to become so profitable that I turn on every watt of hash I have in my home at a horrible power rate.

When the media which Elon is a big part of become pro Bitcoin, there will likely be a once in a lifetime opportunity.

I see 2 outcomes:

or

I'm betting on number 2 which is why I weathered the bear market doing sales at a time almost no one wanted to buy mienrs

I think a lot of people are going to miss that window, but the ones who are scrambling to deploy right now have pretty good odds of being absolute legends.

Most of us know that if you have been buying Bitcoin between now and since it was first sold, you will be seen as a legend

This is going to be one of the most exciting and interesting times. The future is going to be fast paced, chaotic, and wild.