Tangent: Bitcoin Mining Transaction Fees -- Which Spiked Momentarily -- Are Now BELOW The Pre-Halvening Levels... Hilarious -- Market Discipline.

The largely silly claim -- last week -- in crypto-booster papers, was that the debut of Runes, inscribed onto the blocks of mined Bitcoin would drive a vast increase in fees paid to miners. And true enough, the actual 480,000 block miner was paid about $2.6 million, in fees overall -- but that was for the novelty of writing things onto that "Halvening" block.

Almost immediately, fees began falling over the weekend. They are now at under a third of where they were, at peak and slightly below the pre-halvening Levels.

In sum, the $80 or so per block in fees will never cover the fact that miners now face about four times more "squeezing" via the doubling in needed added capital for faster and more rigs, to the fact that the mining results in only half as many coins, as a reward, per block solved.

There is almost no chance Riot will be profitable -- unless Bitcoin stays above about $160,000 for a full year, now.

Fairly valued, this is a sub-$3 stock, though it is trading near $10 this morning.

Onward -- into the Spring sunshine of Earth Day 2024! Be excellent to one another!

नमस्ते