Rabbit Hole Recap RABBIT HOLE RECAP #375: THE POWELL PARLAY
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Sep 17, 2025 Dive into discussions about the potential Fed rate cut and its implications for Bitcoin mining. Explore the heated debate surrounding hate speech and free speech, impacted by recent remarks from AG Pam Bondi. Discover new tech updates, including Bluesky's age verification rollout and Strike's decision to waive Bitcoin direct-deposit fees. Plus, learn about the innovative Fedimint eCash wallet and CakeWallet's Cupcake offline signer. This podcast serves a rich mix of finance, technology, and social issues.
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Hash Rate Surges Past One Zeta Hash
- Bitcoin network hash rate recently averaged over 1 zeta-hash, a rapid growth since China's mining ban.
- Hash rate rising 12x in four years shows strong global mining investment despite subdued bitcoin price.
Value Miners By Operational Efficiency
- When valuing mining firms, focus on lean operations, low SG&A, and true efficiency.
- Avoid relying on rudimentary equity models that ignore operational profitability differences.
Vague 'Hate Speech' Rhetoric Risks Broad Enforcement
- Attorney General Pam Bondi used 'hate speech' language, then narrowed it to threats, fueling partisan backlash.
- Marty warns weaponizing vague speech categories risks non-objective enforcement and chilling effects.