Hardhat Chad ⛏️ retweeted
Proof of Work is Dead & Bitcoin Killed it
–––––––––––––––––––––––––––––––––––
00:00 PoW: A Very Expensive Parade
01:55 What Satoshi built
02:47 OG Developer on early Bitcoin (@xer0c)
03:15 Bitcoin’s four connected jobs
04:40 Consensus and who gets paid
06:28 What pool mining taught me
06:54 The security bill
08:10 OG Miner on Bitcoin’s economics (@JerkTerror)
08:27 Pearl’s launch curve
09:42 Bitcoin and AI had a kid
12:45 ORE changed the distribution
14:24 Keep the ledger, change the rules
15:18 A compute service on an existing chain
16:11 Shared Infra > Reinventing the wheel
16:38 What does the extra network buy?
17:01 The strongest objection
17:36 Build a fire escape
19:44 Who can compete with the capital?
21:32 BONAFIDE
22:25 Design the money first
22:59 Back to the truck
23:45 Odometers are not a great way to distribute a world-reserve currency
Hardhat Chad ⛏️ retweeted
Some early results: seeker users are finding more success connecting and mining $Ore
Thank you for seeker connect @solanamobile
Hardhat Chad ⛏️ retweeted
Robust article - I’d add that with the parimutuel removal and ML odds being reduced ORE functions a lot more like mining with variable production cost as opposed to the lottery analogies.
Completely agree about the accessibility piece: it is crucial for a SoV to be easy to use.
Hardhat Chad ⛏️ retweeted
there is no good reason for why using revenue to dampen downside volatility (instead of funding security) should put something outside the category of money
in fact, it can be an advantage
Hardhat Chad ⛏️ retweeted
Bankless writing and posting about $ORE from Main
Hardhat Chad ⛏️ retweeted
Wrote about how @ORE works, whether it can be considered a store of value, and what it's strongest case "for" being a SoV may be.
Hardhat Chad ⛏️ retweeted
Can ORE be a store of value without proof of work or its own consensus? Here's how it works and the cases for and against.
Hardhat Chad ⛏️ retweeted
if u think $ORE touches 200 t0day smash the hart
Hardhat Chad ⛏️ retweeted
I like @ORE man, it's cool. Piece on it later today.
While it doesn't have PoW or even own its own consensus, arguments resonate about it being a response to inaccessibility of mining (home miners are not realistic, sad) AND being a cultural foil to Solana (SoV in a land of quick flips).
Hardhat Chad ⛏️ retweeted
.@PhoenixTrade is the only venue to offer perpetuals on Solana ecosystem tokens solana:METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta and solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp.
teapaw.org/PhoenixTrade/status/21…
teapaw.org/PhoenixTrade/status/21…
$ORE perpetuals are first on Phoenix.
@ORE is proof-of-work on Solana. Anyone can mine it, and supply is capped at 3 million tokens.
phoenix.trade/ORE
Hardhat Chad ⛏️ retweeted
every new week is a celebration with ore
and there's gonna be so much mORE
The ORE Reserve has crossed $500,000.
Another $150,739 in liquidity was added this week, averaging more than $21,500 per day.
The Reserve has now received $592K in total deposits, $77K of which has been used to acquire 729.8 ORE at an average cost of $105.52.
The Reserve now provides buy-side support for approximately 8,206 ORE across its liquidity positions.
Hardhat Chad ⛏️ retweeted
Sounds good to me. A new form of money or SoV doesn't need to be tied to the same properties of preceding versions. Sometimes people are prisoners of their own minds. @ORE SoV² ⛏️🤙
Hardhat Chad ⛏️ retweeted
on ore and monetary premiums
agree that establishing a monetary premium is the most important thing. disagree that ore's design prevents it from doing so
the reserve simply preserves some of the revenue that would otherwise go to miners (in the btc/zec model) and repurposes it as buying power during downturns
it doesn't have to be fancy. and done correctly it can make for a better SoV (almost by definition)
re ohm, the differences are meaningfully different. for one, original ohm had no limits to supply expansion. so not a great analogy
ohm does demonstrate that the reserve cant establish or sustain a monetary premium. on this we agree
ore still has to establish lasting monetary demand. but i think the reserve can support this
basically there is no good reason for why using revenue to dampen downside volatility (instead of funding security) should put something outside the category of money -- i think you only get to this conclusion if you anchor too hard on what has worked so far
Hardhat Chad ⛏️ retweeted
Gen Z doesn't buy Bitcoin. Gen Z mines $ORE.
Hardhat Chad ⛏️ retweeted
If @ORE has a billion fans, I’m one of them
If @ORE has a million fans, I’m one of them.
If @ORE has ten fans, I’m one of them.
If @ORE has only one fan, it’s me.
If @ORE has no fans, I’m no longer on Earth.
If the world is against @ORE , then I’m against the world.
gmORE
Son hope you’re winning on $ORE
Repost and preach the gospel of @HardhatChad the brain behind the best token on solana chain