#BTC    let me give you the last clue. I will write everything clearly later.

The halving are all about compensating for Moore Law. The math works perfectly.

The bubbles are a consequence of FOMO. It is like the miners build the city, new bridges, new housing, new infrastructure and people want to move in because of all the activities. It is where things are happening.

It is not a bad thing, it is an update for the system. New mining machines, new tech, new infrastructure, more security and power. it is glorious.

The 4 years is also there because it is gives enough time to recoup expenses and depreciation and also get ready and plan ahead for the update. Mining companies that do not plan ahead die, the ones they do survive and become stronger.

But people overact to this bust of activity and join the network. That is also ok, that is what happens when cities grow.

Bitcoin is a digital city.

Basically, FOMO and anticipation drives the rest. This why the price overshoots. Miners initiate the process but if you look at hash rate it never follows all the way to the top of the bubble.

All that is driven by FOMO. But after the bubble everything goes back to equilibrium and the power law.

It makes perfect sense. Now we complete understand this.

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