Bitcoin, explained from the data up
Essays on the metrics, mechanics and monetary history behind Bitcoin — what hashrate actually measures, why the halving shapes the cycle, what changed when money left the gold standard — alongside monthly reports read straight from our own live data. No hype, no advice, just the numbers arranged into a short read.
Lump Sum Usually Wins. Most People Should Still DCA
The evidence says investing all at once beats averaging in about two thirds of the time. Why that finding is real, and why it is still the wrong advice for most people.
EssayThe Tail That Wags the Spot Market
Funding rates, open interest, futures basis, liquidations and long/short ratio — what each one actually measures, and what to believe when they disagree.
EssayNearly a Tenth of the Denominator Is Dollars
Bitcoin dominance is a ratio whose bottom half nobody checks. Stablecoins, 19,000 listed tokens and three providers who disagree by two points.
EssayCoins Are Leaving Exchanges. That Proves Less Than You Think
Exchange reserves have fallen for years and the supply-shock story is only one explanation. Where the coins actually went, and the year the signal failed outright.
EssayThe Most Over-Read Number in Crypto
Max pain is real, measurable, and far weaker than the internet claims. What the academic evidence actually found, and why crypto expiries pin less than stocks.
Monthly ReportUp 23% in a Month, Still 38% From the Top
August's rally pushed Bitcoin to $78,100, but MVRV, Mayer Multiple and cycle-top signals stay far from euphoric extremes.
EssayMinus 48%: What Bitcoin's Bear Markets Actually Look Like
Bitcoin's four bear markets fell 94%, 86%, 84% and 78% from peak — each shallower than the last. Where the current drawdown sits, and what it does not mean.
EssayAre We There Yet? What MVRV Z-Score Actually Measures
MVRV Z-Score explained: how realized cap reveals what holders paid, what the bands mean, and why every cycle's peak reading has been lower than the last.
EssayBad Money Drives Out Good: Why Nobody Spends Bitcoin
Gresham's Law explains why the harder money stops circulating. What happened to US silver coins in 1965, and why low Bitcoin velocity is not a flaw.
EssayThe Year the Anchor Broke: 1971 and the Chart Everyone Keeps Posting
On August 15, 1971 Nixon closed the gold window and money floated free. What that changed, what the famous charts get right — and where they overreach.
EssayThe Cost of Lying: What Bitcoin's Hashrate Actually Measures
Bitcoin hashrate explained: what a hash is, how difficulty self-corrects every 2,016 blocks, what it really measures — and why it does not predict price.
EssayThe Four-Year Clock: How the Halving Drives Bitcoin’s Market Cycle
How Bitcoin’s ~4-year halving cuts new supply in half and has historically shaped its boom-and-bust cycle — and why that pattern may be weakening.
EssayBitcoin vs Gold: The 5,000-Year-Old Money Meets Its Digital Rival
Bitcoin vs gold compared: scarcity, portability, verifiability and market size — how the two hardest monies stack up, and where each one still wins.
EssayThe Engine of Value: Why Scarcity Defines Money — and How Bitcoin Solved It
Money needs scarcity to store your work over time. Here is why gold and fiat fall short, and how Bitcoin achieved absolute digital scarcity in 2008.
EssayThe Economist Who Saw the Future: Milton Friedman and the Genesis of Bitcoin
In 1999 Milton Friedman predicted a reliable internet e-cash — anonymous, peer-to-peer, like handing over a $20 bill. Nine years later, Bitcoin delivered it.