Just 137 crypto miners use 2.3% of total U.S. power

Re:Just 137 crypto miners use 2.3% of total U.S. power by pton_xd on Friday February 09, 2024 @12:33PM (#39317674)

> According to the graph below, BTC goes up when inflation goes down. That is the opposite of a hedge! It proves that Bitcoin is not valuable due to "not having sound monetary systems."

> https://charts.woobull.com/bitcoin-inflation/

That graph is charting BTC price to BTC supply inflation, not general economic inflation (which is what I'm talking about).

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Re:Just 137 crypto miners use 2.3% of total U.S. power by teachrdan on Friday February 09, 2024 @01:30PM (#39318428)

I apologize, I think you may be correct there.

Could you please refer me to a graph showing the relationship between BTC and inflation? Because inflation over the last 12 months is relatively low, at 3.4%, while BTC is very high, at $47,621. Then again, BTC hit a high of $65,000 back in November of 2021, when inflation rates were indeed high at 6.8%.

This seems to suggest a weak relationship at best between BTC and inflation rates.

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