Here's a great piece from Coinshares that takes a dive into the dynamics of mining operations, how these operations stay profitable by balancing Capex and Opex, and how difficulty adjustments ensure that we do not enter a mining death spiral caused by unprofitability. There is also a great explanation of why hash power follows price and not the other way around. For some reason, this has been a heated debate for a while, yet it seems so obvious to me. Price is the lure that drives capitalists to plug in miners and chase tokens to be liquidated for a slight profit (hopefully).

Definitely check it out when you get a chance today or over the weekend and share it with anyone who is curious as to how the economics of mining work for individual operations.

Hubris will be the downfall of the incumbent system

Take two minutes to listen to an idiot from UBS throw every weak, strawman trope at Bitcoin while simultaneously displaying a lack of Economics 101 knowledge about money printing and inflation.

After that, take a look at a couple of examples of just how hubristic the incumbent financial + political system and the banks that run it have become.They believe they're above the law. Who can blame them though? We all just sit here and take it in the face.

h/t Matt Odell

Final thought...

Nothing worse than thinking you'll be home in 15 minutes only to find out your subway line is shut down, forcing you into a cab that inevitably takes an hour to get you to your bed.

Enjoy your weekend, freaks.